To all millennials now is a great time to start a new business. With the financial crisis of 2008 companies have since been closely monitoring their budgets and operating leaner each year. As company continues to cut headcount and the decline of job stability on the rise many millennials are left wondering if they will even have a job each coming year. With a splash a creativity many millennials can fill in the disparities created with all of the job cuts. Companies like Lyft have created an opportunity for patrons to cut cost and provided opportunities for those looking for work.
Here are three reasons why you should start your business now is the perfect time
1.) Technology has made starting a business cheaper
It use to cost thousands of dollars to create a website, however, with tools such as wix.com, Etsy and more creating a website or e-commerce website takes only a few clicks. Entrepreneurs no longer have to be technically savvy to navigate and create a website. These sites allow entrepreneurs the ability to track sales with reporting widgets and monitor/analyze their website traffic.
2.) There are more creative ways to secure funding
In the past, to secure funding, you would have to write out a business plan, create the product and have so much in inventory for consumers to purchase in order to be successful in business. Websites such as Kick-starter have allowed entrepreneurs to skip over incurring production or inventory costs. These sites allow entrepreneurs to produce the product only if their funding goals are met.
3.) Advertising is cheaper and much easier
With the creation of social media, advertising has gotten much easier, however many don’t realize that television advertising is as cheap as $2 to $4 for 15 to 30-second slots. Additionally, advertising companies are savvier and have demographic information to assist entrepreneurs with making the best advertising selections for their target audience.