2020 has been a funny old year, hasn’t it? I don’t know anyone that hasn’t been affected by the Covid-19 pandemic that has swept across the globe.
Many people, who thought they had a secure job, have lost their jobs through no fault of their own as a result of the pandemic (1). If you’ve lost your job, or are worried about being made redundant, have you thought of becoming your own boss? If so, here are 5 reasons why now is a good time to start your own business:
1. Turning a hobby into a paid passion
If you have a hobby that you thoroughly enjoy, have you considered if you could make some pocket money from it, or even turn it into a full time business? Many people can be quite crafty when they put their mind to it (think sewing, crafts or baking to name a few!)If you’re unsure of your skills, you could always use family and friends as guinea pigs to test your ideas out on. Then, if you think there’s a viable market for your products, you can start to market out to your target audience.However, you might not want to use a hobby to make money if you think that in the future it would destroy the happiness you currently enjoy from your hobby.
2. Quit the 9-5 rat race
When you work for yourself, you don’t need to work to set hours (unless, of course, you want to!). Have an appointment? No worries, you can always work the hours back on a weekend!Are you a night owl and struggle to get up in the morning? Then start at lunchtime, and work through the afternoon and evening when you are most productive. Do other commitments mean you would miss out on important social time? Fit your hours to suit you!Try not to work all hours every day and night though, as you’ll soon burn out and become unproductive. Make sure you take plenty of breaks, studies find that if you take frequent breaks your productivity actually increases(2).
3. No more daily commutes!
One of the biggest pro’s that people who have worked from home during the pandemic have discovered is no longer needing to make the daily commute into the office, and people have saved hours every week. A massive bonus is no more sitting in the drudgery of traffic that crawls at a snail’s pace, and now people have more time in the day to spend on the things that make them happy, not staring at the back end of a car, or pretending they’re elsewhere in the world rather than on an overcrowded bus or train.
4. Be your own boss – don’t answer to anyone else
When you work for yourself, you only have yourself to answer to. Gone are the long meetings where a room full of people argue over trivial details, you make the important decisions your business needs without having to gain approval from your peers.
5. Make money for yourself, not a boss
This is a sentiment that struck a chord with me a few years ago, in that when you work for someone else, you are earning money for them. Sure, you take home a wage every month, but it’s peanuts compared to what you are earning for your boss. Cut out the middle man, and start earning that money for yourself.
If the above sounds convincing and you’re thinking of starting your own business, there’s a high chance you will need at least a logo creating, if not more of a brand identity. 95% of business have a poor logo (3), which means in the long run they are likely to be forgotten in favour of their competitors. Here at Startup Business Branding, we offer fantastic packages that are great value, and we help take the hassle out of branding your business. Please visit startupbusinessbranding.co.uk for more information.