Starting A Company Means Keeping It Real

We have certainly seen our fair share of economic woe recently, some of us a lot more than others, and there are many of us who aren’t sure where they can possibly look to find work, but one thing that has often been overlooked is that the best time to start a new business is in the middle of an economic downturn. It’s hard to start a business at any time let’s be clear about that, but there is at least the current advantage that the financial climate has a lot of room for improvement.

Some people derive business ideas by using specialist software to analyse markets or sectors and thereby identifying opportunities. This is all very well but some of the best businesses were started to deal with issues that are sitting right out in plain sight. If you can see a common problem that typically faces a lot of people and can see a way to solve that problem, you may be on the way to creating the next airbag or bath mat. The important thing is spotting a need and a gap in the market.

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The next point to ponder is what you will need to bring in to achieve your aims. You usually don’t need to buy in a great deal of equipment to get off the ground, and with your own computer and printer, you can use Skype and get video-conferencing at very cheap rates. You will definitely have enough computing power to look after the finances, administration and ins-and-outs of the business. If you do have a computer and internet access, and are prepared to use a bit of tech savvy you will already be able to get yourself some publicity – embrace Facebook, twitter, and any social media avenues you can, and go networking crazy to publicise your products. With any luck and some smarts you might even manage to come up with a snappy bit of advertising and go viral.

Those three factors – that downturns lead to opportunities, that the easiest way to find a business niche is when you’ve experienced the market gap yourself, and that a decent computer and internet access can achieve a hell of a lot of networking – are amongst the most common bits of advice that entrepreneurs give out to anyone thinking of starting a business. If you want to start a business then your idea doesn’t need to be amazing, it just needs be useful and you just need to let people know about it as vocally as possible.

John Harald is a business start-up adviser and he wrote this piece on company formation after a conversation with

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