The recent COVID-19 pandemic has literally turned the world upside down. Many people have lost or been furloughed from their jobs. There is high anxiety all around.
This Is A Great Moment For Reflection
It is never easy to lose your job or sense of security. However, this can be a great blessing in disguise because it forces you to reevaluate your life. Are you someone who just knows that they do not want to continue working for other people? The pandemic might be the right time to leave your comfort zone and strike out on your own. We will explore some of the reasons people are too intimidated to take the steps to become an entrepreneur.
Economic Hardship Often Spurs Innovation
A great number of amazing companies like Uber, Square, and Instagram were birthed in the last recession. Hardship often leads to amazing innovation. It will not be surprising if we see many innovative companies coming out on the heels of this pandemic. Think about how many talented people have been furloughed and now have the time to devout their energies elsewhere. Millennials and Gen Z have shown that they are generations that embrace the challenges of being an entrepreneur.
Job Security No Longer Exists.
Many people think that starting a business is just too risky. However, the workforce no longer offers the security it once did. Companies do not take care of employees for a lifetime and then provide them with a large pension for retirement like they did a generation ago. People are often replaced and those who switch employers regularly, actually make more money. There is a sense that there is no longer any loyalty on the part of employers or employees. This type of environment actually makes starting your business not seem so risky.
Only The Rich Can Start Businesses
It used to be that you needed quite a bit of money in order to start a business. This often meant taking out high-risk loans or being at the mercy of a strict venture capitalist. This is no longer the case. Modern technology has made starting a business extremely simple, even if you do not have tons of money for investment. Cloud bases services like Shopify, allows you to have an e-commerce shop for very little money. There are also ways to make money by just having a website that does affiliate marketing. Travelerrr is a great place to begin if you want to start a business in the multi-billion dollar travel industry.
Lack Of Knowledge
Often people have not really been exposed to entrepreneurship and therefore simply do not understand the process of starting a business. However, today’s world provides vast knowledge on the subject. There is a vast number of entrepreneurs networks that you can join. Here are just a few:
- PartnerUp
- StartupNation
- Biznik
- Perfect Business
These networks are great ways to learn about entrepreneurship and make a lot of great long-lasting connections.
Take Hold Of Your Destiny
Some people are scared of the stress that often comes along with managing a business. They think that will not be able to handle keeping up with the ever-changing marketplace. What they often do not take into account is that day to day job can be just as stressful. Often, employees have to live up to unrealistic expectations of several managers. Being an entrepreneur gives you more control over your own destiny, rather than have your fate be in the hands of other people. This way you can shape your life according to your needs.
Corporate America Is No Longer Stable
Perhaps you love your job. There is nothing wrong with being fulfilled by your work and enjoying a corporate environment. This can change very quickly when your company merges or is sold to new owners. It is not unusual for things to change completely just on the resignation of key officers. This can make the workplace atmosphere you once loved has suddenly become unbearable. You might now be in the predicament of proving yourself all over again even after many years of loyal service. It is better to work for yourself and be the master of your own destiny.
Being An Entrepreneur Is Hard Work
There is no doubt that being a successful entrepreneur will require hard work and dedication. However, the younger generations are no stranger to working several jobs and/or side hustles and still barely making enough money to pay the bills. This is not a comfortable life and will quickly wear anyone down. Comparatively, you will be working hard in your own business but it will feel much more worthwhile. The money will be much more satisfying and you will be motivated and challenged in a whole new way.
You Feel Uncomfortable With Self Promotion
Being an entrepreneur means constantly having to sell your services or products. However, you are and have been selling yourself your whole life. When you go to a job interview, you have to convince employers that you are the best candidate for the job. Perhaps you actually have to sell your employer’s company at networking events. Employees are always having to prove or sell themselves to hold on to their positions. Transferring these skills to your own company is surprisingly easy.
Getting A Tax Resale Certification Is One Of The Best Things You Can Do As An Entrepreneur
If you decide to start a business, a tax resale certificate can really save you money on taxes.
In short, a tax retail certificate allows you not to pay sales tax on items that you plan to resell. This can also apply to supplies that are going to be used in products that you will resell, such as wood for a cabinet.
However, the process can be difficult and the rules are different for each state. That is why TaxResaleCertificate should do all the hard work for you. We can make sure that you get all the advantages of a tax resale certificate without having to deal with the hassle of government red tape. Let us handle the hard stuff so you can proceed to run your business with confidence. Make sure you check out our second blog in this series so you can learn even more valuable information about tax resale certificates.