Back in college I had this amazing professor called Cashier Myricks, a phenomenal teacher and someone who really helped to shape my view of business. One thing which Cashier would always talk was the importance in business of spotting an opportunity and capitalizing on it. In fact we used to do studies about businesses which had failed to take the bull by the horns when the time came and ultimately those businesses suffered in the long run. It is fair to say that this has been a terrible year and we have already seen so many businesses being forced to close their doors. This then is an opportunity for anyone out there who is looking to start a business, and 2021 will be the year to do so.
Concerns
The first thing to mention here is the concerns which you probably have around starting a business during this global crisis. What is important to remember however is that you will be launching your business from scratch, in the middle of this situation. Those businesses which are struggling or which have been forced to close, they have been in operation under a normal situation and then been plunged into crisis.
Premises
If you are looking to launch a brick and mortar business then grabbing a great location is not always easy. Given what has happened this year however there is going to be some great spots that become available which have heavy footfall and which are set in a prime location. What you may also find is that these locations could be found at a lower cost than normal because those who own the premises are desperate to get some money coming back in.
Staff and Equipment
Those businesses which have been forced to close down will have sold off all of their equipment and gotten rid of high quality staff. Once again this is something which is going to work in your favor as you will be able to acquire both staff and equipment without too much trouble, and of course at a lower price than you may have anticipated.
Market Share
Something which both online and offline businesses will vie able to count on following the events of this year is the chance to eat up a large chunk of market share without too much difficulty. If a village has a bakery which is forced to close its doors, where do the villagers get their bread from? Now if you launch into the village with your baked goods, you’ll see a huge spike in custom from day one, now take this example and apply it to any industry around the world, and a very similar thing will happen.
Unfortunately, the world of business is a cruel one but simply because many have failed, this is not to say that you should not look to capitalize on this fantastic opportunity and launch your very own business in 2021.