Why do you want to start a business in 2021?
I wanted to talk about a question that is really targeted towards someone who is interested in maybe launching a business and whether 2021 is a good time to launch a business.
Launching a business happens in different steps. You’ve got the initial kind of setup stage. And this phase really is all about getting the mindset, working out what kind of a business, what you really want to get out of that business, and so on and so forth.
I want to focus on that part in this video, the why of that business. The first question you need to ask yourself if you want to start a business in 2021 is why do you want to start this business?
Making money is not one of the answers. It cannot be one of the answers. I’ve said this in many of my videos, that if your intentions are right, if your brand is properly built up from the ground, then money would follow.
If you are targeting the right kind of customers and if you tell the right kind of brand story, if you have an authentic brand personality, and of course, if you have the right kind of product or service that really serves your target audience, then money would follow.
So why do you want to start a business?
Is it because you are stuck in a kind of a dead-end job, or maybe even a very uncertain kind of job marketplace or a sector. And you’re trying to think ahead in case something goes wrong. So you will have something to fall back on, or is it because you have a fantastic idea, at least you believe you have a fantastic idea for a product or service that you think there is a marketplace for, and you want to get that out there, or is it because you feel that you want to have a passive income, something on the side while you’re still working nine to five, and you want that to argument your kind of revenue.
Especially if things go from bad to worse, then at least you have multiple sources of income.
2021 could be a tricky time to start a business.
If it’s an online business and you are, you have a product or service that can be delivered digitally online, or even physically, but you sort of all your marketing and all your customers you kind of sales process is online, then you probably okay.
But if you’re thinking of any of the traditional kind of business ideas that require a shop or an office then you will have to reconsider in terms of business ideas.
Now there are no wrong ideas or right. Ideas. I mean, you’d be surprised at the kind of businesses that are really taking off since 2020 now, especially more so in 2021, based on the reaction and the changing culture shift in people’s mindset, because of the pandemic cleaning services are something that’s really picking up. Not that you would go out and do the cleaning.
If you can do that, that’s fine. If not, it’s all about coordinating. Maybe you can start a business where you have a platform, you hook up almost like an Uber for cleaning services. There are services like that, but because this is geographical, there’s always space to enter that market.
Consulting Services
What about consulting? If you have the expertise, you are an expert at something, or at least you have a lot of experience. Why not provide that experience as a consultant?
This could be done online with zoom, video calls, phone calls, things like that. It could even just email if you’re really providing that kind of consulting.
Meal Prep
What about meal prep? That’s a great idea. Lots of people are working from home. Of course, that means that they actually have more opportunity to cook, but at the same time, if they’re working remotely from home, then if you ever work remotely, you know that there is no cutoff period.
You may not even have the time or the motivation of the will to cook. In that case, a meal prep business could be fantastic. You could meal prep and then distribute. You’ve got lots of people now entering the career market segment. People making deliveries – moving products from point a to point B in the future with drone technology, with Amazon sort of pioneering, that kind of delivery service, how could be even more feasible. You create boxes of meals, food, and then in the future, you got drones to deliver that. But at least for the moment, you’ve got a lot of options. Uber eats things like that. Now that I think that if it’s a nutritious kind of meal and you are providing a high-quality service, that is a fantastic business to really think about.
Therapy Sessions
People now more than ever need to talk to people. Loneliness is one of the biggest kind of side effects of the pandemic. A lot of people are at home. Because of the lockdowns because people can’t move. In some countries it’s very to the extreme, like for example, if you look at England right now, the UK, they’re at a tier four lockdown, a lot of tier three and tier four, which is as good as a total national lockdown and America. So loneliness is a big thing.
Of course, this therapy thing needs licensing. It is regulated. So you can’t just put up a website and say, call me and I’ll talk to you. You gotta research that you gotta find out and see what you can do.
Day Trading
What about trading day trade, swing, trading, day trading, stock investing. That could be a fantastic kind of business to start. I didn’t say career, but I said business, because if you want to day trade, if you want to get into trading, then you’ve got to look at it as a business course, even before thinking of it as a business, you need to think of it as an education. You need to educate yourself. You need to spend three months, six months. In fact, if you can, eight to 12 months educating yourself, learning everything that there is no about technical analysis, right?
How stocks move, how, how the price action, the price movement, how buyers and sellers, their, their psychology, what happens in the markets because of news what’s happening right now, patterns technical that allows a chat analysis, all these things you got to learn while maybe even kind of trading with a simulated account before you put any real money in, but it’s a viable option. If that is something that interests you, then it is a great option. You can put even as little as $500 or even a thousand dollars, $10,000 into an account and see if you can treat that.
But like I said, you only trade with real money after at least six months, ideally eight months, 12 months, ideally a year spent with a simulator account and with, you know, educating yourself, reading and learning almost like a university kind of degree.
The Right Mindset
Well, these are some ideas, but what about the mindset? Governments have been shelling out billions of dollars or pounds or whatever to do small businesses, businesses that have closed down the restaurant industry. So where are the governments getting all this money from? Right? So it, it will have an effect eventually inflation and so on and so forth.
Are jobs dying?
With all that going on, the job market seems to be quite stagnant. Imagine all the jobs lost in the restaurant sector, the hospitality industry, even regular shops, almost all small-scale businesses are in one form or another struggling. Most of them shut down.
Bigger businesses that have a lot of cash flow capital to move around. Even they are sort of making fundamental changes to their business models. They’re simplifying their products, their offerings, their processes. So in terms of reducing the cost footprint, a lot of the businesses are really taking big measures.
Robotics is going to come in 2021, maybe 2022 for sure. So lots more jobs would be arrest at risk. I’m not saying that jobs are done but at the moment if you’re looking at it, should you go for a job or should you sort of think about launching a business?
And then I would say that launching a business is probably a better option, a small business. If you’re already doing a job than setting up a small side business is a must, of course, make sure that it does not conflict with your primary job and that it does not jeopardize that because you don’t want to lose that before your business has really picked up speed.
Think from inside out
Whatever you do, if you want to launch a business, always think of it from the inside out, not from outside in most people start on in the past, it worked not anymore.
And it’s going to get even more difficult as we move forward, but it is not about, okay, there is a target market out there. There’s this product I want to sell it. So I’m going to start a business. Instead, you’re going to start from inside.
Who am I as the founder – what is your purpose in life? If you do not have a purpose, spend some time figuring out what that purpose is, you know, and then what is this business about?
Why do I want to do this business? If it is just to make money, then think again, because you will not be making that much money. If just money is the why of your business or whatever venture you want to do, even trading.
That’s why I said day trading, but do not think of it as you know, I want to get into the market and make a million overnight. No, that’s not how it works. And there are videos and people, and on YouTube and around the internet guru’s sort of spewing out this nonsense about how to make easy $15,000 a month day trading, or doing this, doing that.
Nothing is easy. And in fact, all they’re trying to do is probably set a course or a membership option or something like that. So for your own sanity, you got to look at it from your own perspective, in terms of what motivates you, what is it that, that excites you?
Is there a change you want to bring into this world? You know, something to do with that, if your motivation stems from the internal core, and then you say, okay, I want to do this business because of this, this purpose, that you’re, you, you have a great start.
And of course, then you figure out the business aspects of it and the brand aspects of it. You need to build the brand first, you know, the days of where just slow getting a cheap logo, slapping it on, and then getting into business are long gone. Believe me, they’re long gone. They may not appear to be because it is really insidious. This is a kind of mindset of quick wins and quick money that is very insidious. Everyone has it because it is fundamental. It’s human. It stems from greed, right? But the people who recognize that and who observe it as a third party, right? Everyone has it inside. But if you’re able to detach yourself, look at yourself from outside and say, yes, this is greed. And how can I, you know, no one can get rid of greed and no need to, as that movie, uh, wall street, I think greed is good.
But it has to be managed. It has to be controlled and you need to have an Atlantic higher purpose. The people who do that are the ones who are going to be successful in 2021, 2022, and beyond whatever happens to the world. This could be over in the blink of an eye.
The vaccines could work out and Corona COVID could be gone. Even then, there has been a fundamental shift in our culture. Last year has shown us that the world can be brought down to its knees. And so things are going to change. People are going to change and you need to change too, and you need to change from inside.
Conclusion
Don’t be afraid. Go for it. You can start a business in 2021. You can be successful. If you look at all these things, start with starting with the why. And of course, whatever business that you want, thinking off, do not think of it from a monetary perspective, because if you’re under pressure, if you start a business and you expect, or you want that business to pay your bills right from day one, then you’re going to make the wrong decisions. And it’s not going to really work out whatever it is.
You need to build the right kind of brand story.
You need to express that story.
You need to connect with your audience and then the sales happen. And then the business happens before that. It’s all relationship building.
