When in one's life is a good time to become an entrepreneur?

There's never been a better time to be an entrepreneur: you can start with hardly any money at all and there's loads of advice available. On Business Ideas at least.

Isn't it better to catch small fish by yourself than work in a big factory?

Now's the time for employees, even if they have a full job. A project can be simplified to be tested on a small scale, within a few hours a week, before being expanded.

Now's the time for students, projects that are part of their studies can be extended to become a small business for a small cost.

Now's the time for the unemployed, be your own boss and prove you can do much better than people would think.

Comments

How can I balance my cashflow and my product development?

Unless you have a regular source of income that covers all of your product development spendings, you'll have to continuously make sure you don't overspend. This has hard consequences: postpone work that isn't top priority, be frugal when dealing with salaries, focus on revenue growth instead of quality. Bootstrapping a startup requires to make hard choices to preserve your cashflow! Cashflow is king for most startups: even if you hand team problems skilfully, maintain a upbeat pace compared to competitors, money problems are still able to kill your business relatively quickly. One way of handling this is to have several regular revenue streams that make it possible to invest in building a quality product over time even if you don't get any funding. Stable resources are the key to a sustainable product roadmap!

What if my idea already exists?

You may have already experienced the frustration to realise that an idea you had already exists on the Internet. You don't have to have a unique idea to succeed, what matters most is how you make your business unique We're not 6 billion individuals on the planet for nothing, even though not everyone has access to the Internet chances are your new ideas already exist in a shape or form somewhere. Don't let it discourage you! Your Ideas are unique because you are unique. You may have similarities with existing projects but shortly your personality will show and make your whole project unique.

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