A lot of you are asking if now is the right time to start a business.
Many entrepreneurs have started successful businesses in uncertain times.
So can you.
Obviously in my case, women want to know if it makes sense to open a party/etiquette business catering to younger kids right now.
Success in business is all about filling a need. You’ve always heard that, right?
You’ll be happy to know that new businesses are forming despite the epidemic, albeit at a significantly slower rate than before.
I didn’t realize there has been so much activity, but there have been more than 500,000 applications for an employer identification number since mid-March, according to the Census Bureau.
Although that is down nearly 20 percent from a year ago it’s still quite a bit given the circumstances. Between mid-March and mid-April, the Small Business Administration issued nearly 300 start-up loans worth about $153 million, not nearly as much as a year ago, but certainly more than you would have thought.
So, that alone is a pretty compelling story about the American entrepreneur. Nothing keeps us down for long!
While I don’t have all the stats at my fingertips, my guess is that it’s not only determined entrepreneurs entering the arena, but also quite a few people, perhaps just like yourself, having either been displaced or understandably feeling uncertain about their jobs, deciding to go ahead and take their livelihoods into their own hands.
According to a professor at the University of Michigan, “Downturns or challenging times are seen as good times to start a business for two reasons.” “One is, there is less competition for resources. The second reason is that whatever changes we face, positive or negative, bring up new customer needs. And customer needs are at the core of any business.”
Here’s what I know. There’s never the perfect time to do anything in life. You make the perfect time by doing one thing. Taking action!
I can only speak to the business I’m in, which is children’s dress up parties and etiquette training. We’ve succeeded throughout the years in every condition that’s come our way so far, and we are succeeding under the current situation.
Luckily, birthdays are in endless supply and the need to celebrate them never goes away, rain or shine. And I doubt anyone would put up much of an argument right now concerning the value of some etiquette training for kids at an early age.
3 Keys to Why it Works
Catering to younger children; smaller groups of 10 or less; limited number of adults present (1)
While nothing is absolutely immune from circumstance, children celebrating birthdays with friends, and parents’ desire to see their children happy by providing a unique experience has proven to be darn close.
A party venue that delivers a stress free solution for parents and a memorable experience for their child, while adapting to local protocols is well worth it and definitely meets their needs.
Here’s what else I can tell you…
Doing your research and being prepared are the foundation of a successful new business. If you have found something that really interests you, like Children’s Tea Parties and Etiquette Training, now is the time to gather resources so that you are well prepared to hit the ground running in the near future as we move past the current situation.
I like to be optimistic and hope for the best.
I can tell you from current experience that parents are anxious to get their kids back into some normalcy, and they are excited to give their child a memorable birthday experience.
Just think how much the kids want to get out and lose themselves to their imagination for an hour or two and just be normal kids having fun!
I have been in this business for 21 years.
Working within local guidelines and protocols I have made adjustments, which are working.
The nature of children’s parties makes it easier because you are catering to smaller groups (10 or less) of younger children with a limit on parents being present. So it is not much different than normal.
Some parents have requested that the parties be held at their homes instead of my retail space. That’s fine, in fact, it has opened up a new “mobile” service for me that I had not regularly offered. I’ve found that they enjoy the security and comfort knowing that they are hosting an intimate party with close friends and family. Personally, I have worn a mask, take temperatures (by request), and use our usual sanitary procedures.
Depending on your area, and restrictions, you can adjust to hosting parties or etiquette classes successfully.
Fortunately, with the clientele that this business caters to, it adapts well without too much interruption. On the flip side, with kids and parents having been cooped up at home, I expect the pent up demand for parties and etiquette to be explosive.
So, would it be crazy to think about starting a business right now?
No, and if you want to be more successful in life, you have to start working on it.
Now is the perfect time to get prepared so you are ready to meet the demand!