So, the first of the year is upon you and your thinking should I pursue my idea to start a small business now? Many people may think that the first of the new year is the best time to sharpen your skills as an entrepreneur. However, there are several factors to consider that may move your project well into another time of the year. What are those factors?
Factor 1: Is the nature of your business seasonal? For instance, are the items you sell or the service you provide strictly focused on the time of year? Or, can you profit from your business throughout the year? This factor is pretty much self-explanatory.
Factor 2: The area of the country wherein you start this business is an essential element. If your area of the country feels the effects of seasonal bitter cold, then you should consider if your service or product will do well or not. An example of this is residential pressure-washing. In the mid-eastern part of the states pressure-washing might be profitable in the spring and summer. However, in Florida, it might be profitable year-round.
Factor 3: Is your business or service indoor or outdoor. Outdoor elements would need to be considered. Can your product and/or service withstand the outdoor elements? Or better yet, what is your physical stamina if the weather elements are extreme or always fluctuating? Again, timing and consideration of the environment are mandatory. Don't forget indoor services. Many people do not like to spend time at home in the summer months. As such, they may or may not be interested in a service that will keep them home for a specified period of time. Or, the opposite, wintertime might serve to keep many folks near the fireplace.
Yes, timing is an important aspect of starting any business whether big or small. In any event, whenever you decide to begin your small business remember to be licensed properly, save those receipts for year-end deductions, keep good records, and above all be honest and have fun.
If starting a small cleaning business, don't forget to take a look at my short-read
How to Start a Cleaning Business on a Poor Man's Budget.
