It's December and it's that time of the year when you start to think about the coming new year. That's assuming you're one of the fortunate few who actually have time to 'think' during this silly season. If you are, please read on...
It's always a good time for new beginnings, however the Christmas / New Year period is a wonderful time to brew your ideas and make a positive launch into 2017. They say in Melbourne that no business deals are done between the Melbourne Cup and Australia Day. That's good news for startups because during that time you can brew your ideas, develop your website and get prepared for when business is ready to get done.
The recent GDP fall of 0.5 percent in the September quarter suggests that Australia is on the edge of a recession. This is both an opportunity and a need for more people to get into startups. It's a opportunity because in a declining market, the economy will need new ideas for growth and hence it is those entrepreneurs that are familiar with developing and driving new growth, who will thrive.
A declining market also shakes out poor performing business models and provides the space for better business models to thrive. As such, if you're an entrepreneur in this space you'd be in a prime position to capitalise on the 'shakeout'. This means that there will be opportunities to pick up assets for less and consolidate for when the market picks up again.
A declining market also creates some necessity to get into entrepreneurship. Quite simply large businesses (and small businesses alike) will begin to shed staff. These people won't be able to find work and as such there will be a need to self-invent. This might come in the form of spending 10s of thousands of dollars on retraining or courses, or if you ask me, invest that money in starting a new business (and learn that way). This is because knowledge is free these days and there is everything you need online.
What is lacking, is people, networks and guidance to get you started on a new career. I'd suggest investing more in this than just taking up any course thinking that there might be a job at the other end. CEDA report indicates that over half the jobs in the future will be self-created, so it would be wise to stay ahead of the curve and build your entrepreneurial skills early.
A good place to get started brewing your business idea during this Christmas period is a great coworking space. There are over 70 listed on this website and I'd encourage you to get in touch with one near you and start a conversation. If you get stuck, feel free to send us a message via this website.