It’s Easier Than Ever To Start a Business: Here’s Why
Many people mistakenly assume that the entrepreneurs of the past had it easier than those of today. While it’s true that competition has grown fiercer, it’s actually easier than ever to start a business. Learn why so you can pursue your entrepreneurial dreams with confidence.
The Barrier to Entry Is Lower
You used to need a lot of personal financing or the help of large investors to get enough capital to start a business. Nowadays, you can start a business from scratch with no money. Why is that?
For one, business-building tools are more accessible, cheaper, and even free much of the time. As an example, platforms like Shopify or Etsy allow you to quickly set up an online store with minimal costs. Moreover, if you need funding, you can secure it with crowdfunding sites like Kickstarter and GoFundMe or have an easier time getting approved for business loans at a bank.
Additionally, you can get creative with how you establish your endeavor. You don’t need a brick-and-mortar store since the Internet can be your office. Because of this, you can start out with a low-cost service-based business, like freelance writing, consulting, or coaching.
More Tech and Resources Are Available
Modern technology has leveled the playing field, giving entrepreneurs of all sizes access to powerful tools and knowledge. Take a look at the following core business functions that modern tools can assist with.
Basic Operational Functions
Tools like Zapier and HubSpot can automate repetitive tasks, saving time and resources. Likewise, AI-powered chatbots assist with customer service, enabling you to run a lean, efficient business.
Security
Both physical and cybersecurity have come a long, long way. Nowadays, business owners have unparalleled peace of mind for their assets. For instance, the evolution of door entry technology has made it easier to control building and room access. Likewise, cybersecurity has improved to strengthen defenses against the increasing barrage of online threats.
Learning and Training
Coursera, Udemy, YouTube, and more all offer free or low-cost training in business strategy, marketing, and technical skills. You can use these platforms to constantly upskill yourself and your team without expensive courses or degrees.
Outreach
You no longer need to work within the confines of your physical location. With cloud-based conferencing and collaboration platforms, your business can hire and work with people from all over. This expands your client and talent pool, giving you a greater chance of finding the best for your business.
The Internet Has Broken Down Gatekeeping
The Internet has democratized nearly every industry, allowing new entrepreneurs to bypass traditional barriers and reach their audiences directly.
Instagram and YouTube, for example, enable direct communication with customers. Paid ads on these social media platforms allow for highly targeted marketing that doesn’t cost a lot.
Online marketplaces, including Amazon and eBay, connect sellers with millions of potential buyers worldwide. Subscription and digital product models allow businesses to scale without increased effort.
Finally, blogs, podcasts, and video content give entrepreneurs the opportunity to uniquely tell their stories and get rewarded with higher visibility in search results. It’s essentially free marketing!
A New Era of Opportunity
Overall, it’s easier than ever to start a business, despite growing competition. Today’s world is packed with resources, connectivity, and tools that empower any entrepreneur willing to pursue their dreams. Will you?
