Should You Start a Business in a Pandemic?
It might be the best time ever!
Posted Dec 10, 2020
This post was written by guest blogger Brian Wallace.
As we continue to struggle through uncertain times in the pandemic and are bracing for what is emerging as another wave of lockdowns and restrictions approaches, many of us are embracing new styles of work. Many are working remotely for their jobs, and a record number of people are signing up to start new businesses—the largest number of U.S. business registrations since 2007. You’re not the only one dreaming of your own business—a full 65 percent of Americans are dreaming of running their own shop!
Mentally finding the way to a new normal
While it might at first sound crazy to start a business during COVID-19, history shows us that many successful businesses have come out of uncertain times (9/11, housing market crash, and the like). Starting a business as a side gig or freelance opportunity is also a healthy expression of the mind.
The importance of naming a business and the reasons behind it, I feel, are so important right now as there are aggressive stressors that are threatening the very fabric of society, main street, and small business. This feels like a good time for people to start developing ideas and believe it would help many people.
Doubting yourself and your skills—and how to overcome it
Many people suffer from Imposter Syndrome—they may have worked in a career for some time or have advanced skills in their passion projects. While they may have the skills to run a successful business, they think that running a business is for the other guy, and they feel inadequate. Now is a unique time to share your gifts with the world and not let fear and self-doubt hold you back. Steve Jobs was famous for saying that real artists ship. There’s no need to wait for perfection—many businesses are rewriting the rules, and the time to execute your business idea is now.
Leadership is misunderstood
While you might think that a leader is a type A, hard-charging taskmaster, our times call for greater emotional intelligence, empathy, and understanding. A true leader leads by example in these times and most effectively attracts clients, their tribe, and the best employees that will do the best work for them.
Also, there is a difference between being a subject matter expert and running a business. Do make sure that you have the skills or can have professionals help you with setting up a business properly, make sure you have proper sales and marketing, and find the right business name and focus of the business.
Need some inspiration in coming up with your business name? This business name generator should help.
Brian Wallace is the Founder of NowSourcing.