Uber, Groupon, Venmo, Square, Airbnb, Hewlett-Packard, Hyatt Hotels. All of these companies share something in common. They were started during times of economic downturns, times when people were ready to change how and where they do business. Times like these shake up the status quo, break established routines and habits, and open the door for anyone to become an entrepreneur. We are in a moment when everyone, from the one-woman show to the largest of companies, are reimagining what the “new normal” is going to look like for them, and now is the chance for you and your business to become a part of that.
Reflecting on my many different experiences as an entrepreneur, one of the most exhilarating and empowering moments for me is when I commit to starting a new company. For anyone, including a seasoned entrepreneur like me, it always gives you those butterflies in your stomach that come when you take the most exciting leaps in your life.
During a recession and economic meltdown I started Tikatok from my kitchen table while raising my two daughters. I didn’t know then that one day I would sell it to Barnes & Noble. Daring to dream during hard times, knowing that you are taking your first step towards bringing your vision to life, and being able to make that vision support and work with your life is unmatched.
And now might just be the best time to begin. According to the Wall Street Journal more than 3.2 million entrepreneurs have already applied for Employer Identification Numbers in 2020, up from 2.7 million at the same time in 2019. The ways people live their lives are changing so rapidly it is sometimes hard to keep up. Families are in need of new ways to educate and engage their kids, parents and soon-to-be rising seniors are looking for guidance on navigating the ever changing college admissions process, companies are looking for new ways to connect with their customers, and people are evermore realizing the value in having a business or life coach.
This is the time. Take the leap, turn the confidence up to 11, try that idea you have always wanted to, and start your business!