That clever idea for a business that once occupied a tiny corner in the back of your mind is now at the forefront of your thoughts. You’ve visualized operations, promotions, locations, and products. You know you’ve got something unique to offer because you’ve looked for your product in other stores, and it was nowhere to be found. If only you could get your product in the hands of customers, you know they would love it, and your business would take off.
We get the energy and restlessness that makes you want to take that dream and bring it to fruition, and few things can be more exciting than seeing your vision take shape. We must warn you that the journey from inspiration to business launch can be an uphill climb, but also a very rewarding one if you’ve got a great implementation plan. Here Hayes and Associates would like to offer you some insights to determine if fall is your season and your company’s time has finally come.
Why Launch in the Fall?
Plenty of reasons exist for establishing your business in the autumn. A research study conducted by Redbooth discovered that workers are their most productive in autumn. If that is true, then that extra burst of energy and motivation can enhance the labor required of getting your business started. Additionally, the fall is typically viewed as the “get back to routine” time of year. With the children in school and vacations over, the fall is a great time to get focused on your business launch.
Retail businesses benefit from taking advantage of the seasons of gathering and shopping. As people are out-and-about more, buying gifts and catching up with friends, your venue or products may be the must try find of the season. A coffee shop with seasonal lattes, a housekeeping service to get customers’ homes ready for the holidays, an event venue with room to host company functions, or an online retail boutique with fair trade merchandise are just a few examples of business types that would benefit from tying their marketing and product launch to the fall and its approaching holidays.
Consider the Economy
You may be wondering, are we really in a recession right now? In the United States, we’ve found ourselves facing a strange phenomenon in 2024. Economic data says our country is doing well. Our GDP is up, and employment is down. Inflation is falling.
However, if you survey the average American, he will likely tell you “yes” based upon high inflation and difficulty of stretching income as far as we once could. As costs remain high for housing, groceries, vehicles, and more, the cost-of-living strain, and the number of people working two or three jobs to make ends meet are leading people to a “feeling” of recession, and it’s proven to be persistent. This could suggest that right now is a perfect time for a business launch.
It may feel counter-intuitive, but when the economy is not at its best, entrepreneurship thrives. In 2008-2010, one of history’s more recent recessions. numerous businesses that have since thrived got their start, including: AirBnB, Kickstarter, Whatsapp, and Uber. There are several practical reasons for this. Professional service providers and suppliers with whom you will work are “hungry” and looking for business, so you may find better prices and more reasonable service fees. As companies have coped by underpaying and reducing hours for their staff, more people are having to work multiple jobs to make ends meet. People are weary and looking for opportunity. Finding eager employees who will buy into your vision and labor toward future rewards may be easier than at any other time.
YOUR Right time for a Business Launch
No matter the season, starting your own business is a demanding undertaking, financially, emotionally, and timewise. Your first step toward preparing for a successful business launch is getting yourself ready. Ask yourself these questions to begin a self-assessment of your preparedness.
- Do you have the time and energy available to devote to this venture?
- Are you in, or heading into, a major life change?
- Do you have the support of loved ones?
- Do you have a strong desire and commitment to make your business work?
- Do you believe in what your business will offer?
- Have you researched your target audience and the local market?
When entrepreneurs launch a new business, they almost universally struggle with finding a healthy balance between work, personal life, and family obligations. Your business will demand much of you, especially at the outset, so have conversations with those who will be most impacted by your long hours at work and proactively develop strategies to help your business to sustain its most valuable asset…you!
Develop and Action Plan
When you’re feeling ready and committed to making your business happen, you’ll need the support of a financial advisor and an accountant. They will help you develop your business plan and to help you know the legal and taxation requirements for your business. That’s where Hayes and Associates comes in. We understand small businesses, the vision that inspires them, and the practical steps that bring them into existence. We would love to set you up for a wildly successful business launch this fall. Give us a call to schedule your consultation today.
