What is the perfect time to launch a startup
The coronavirus pandemic has overturned most aspects of day to day life including the way we work. For many, it has brought a period of extended uncertainty and possible job insecurity. https://towtruckfairfax.com/ and related industries have been affected. For many aspiring entrepreneurs, it has also created a window of opportunity for many to succeed. As Eric Ries puts it in his lean startup book, the best times to be an entrepreneur is when everyone else is looking for exits.
Some of the greatest companies you know such as IBM, General Motors, Toyota, and HP were born in crisis, in the wake of economic downtime. If you are an aspiring entrepreneur and wondering when is the best time to launch a startup, let’s have a little discussion.
When you have a clear plan for your customers
If you really have a plan of giving your customers what they want, then you might be closer to launching your startup. Most times, people rush to start a business without having a clear plan for customers. You don’t have to have everything while launching a business because when you listen to your customers, you will understand what they need. However, be ready and precise with what you can offer.
Appetite for digital
There has never been a better time with an appetite for digital than now. When every component of the world seems to be going digital, you can make a kill overnight with just one application. There is more room for your product to go viral than never before, powered by internet penetration and the sharing power presented by social media.
When you have a competitive edge
Most of the products being brought to the market today are just a copy of famous products and a replication of a product’s success. There are no outstanding or unique features that create a difference in how the product being introduced to the market differentiates itself. If you have a unique selling proposition, then you have a great opportunity to introduce your product to the market. You can make an edge over big brands through differentiation.
Harness the power of social media
In this information age, if you are not able to extract the maximum power and potential that is presented by social media, then your brand will be missing out. The use of social media is imperative if you want to have a maximum spread of awareness for your product. Consumers today make use of social media to decide if to buy a product or not. There is no better advertising platform now than what the internet gives us. Putting your products or services on Facebook and Google will present a great way of having your product seen by millions of potential buyers.
Once you have a product you are convinced would sell well, don’t overthink that it’s too early to launch your business. Pounce on any opportunity that comes along the way. Never be shy to take risks, great things never happen to cowards.