Starting a business today might seem daunting.
Just ask these young entrepreneurs, all of whom agree that the prospect of getting started can feel overwhelming.
According to Richard Branson, however, things are actually much easier now.
The billionaire spoke to Forbes about what it took to start his first business in the 1970s.
Remember, this was a time before cellphones and the internet.
It’s tough to imagine a world where those things don’t exist. I have a vague memory of having to call up friends to make plans using a landline. I still have no idea how we managed to actually coordinate our schedules.
Back to Branson:
“Customers are just as happy to buy from someone based at home as they are from a business on the high street, and this brings the cost of starting a business down dramatically. You don’t have to commit to expensive global advertising campaigns but can do your marketing and market testing at the touch of an iPhone.”
He also points out that it’s easier to accumulate the funding you need to start a business with schemes such as crowdfunding and Start Up loans.
That said, even with crowdfunding some businesses are doomed to fail. Nobody asked for a pizza fork and nobody wants one.
If you have a good product or idea, however, there are ways to get funding without having to go to the bank.
“While competition may be fiercer, I believe that if you have an idea for a business that solves a problem and makes people’s lives better, as a result, you have a good shot at success,” he says.
Other big business owners agree. Mel Pledger is the founder of personal development program DNA Light Up, a company that delivers training and development programs to a broad customer base.
“The challenge today is standing out and maintaining integrity in a market that becomes flooded with imitations the second a product or idea seems to be a good one. For me that is the greatest difference between being an entrepreneur then and now.”
The focus today, she says, is on authenticity and having a genuine interest in connection and humanity.
You have to admit that making that connection becomes a lot easier when you have access to the internet.
If you’re starting a business, or thinking of starting a business, you can find some handy tips from people who’ve been where you are.
[source:forbes]
