Whenever a crisis hits the globe there are opportunities that arise. If you have or are considering starting a business or side hustle, now is the best time.
If your work and pay have been affected by Covid-19 you may want to consider starting or growing a side hustle. Ask yourself questions, like;
- What can I do to withstand a pandemic?
- Where are the opportunities today that will help me come out of this more successful?
- Is what I’m doing, sustainable and require me to be “always-on” or can I automate and digitalize all or part of it?
- What are the essential services and products that are needed when public gatherings are limited or shutdown?
Write down all your answers and ideas and select one that you can start or promote in the next 30-90 days. I say 30-90 days because the hype around a crisis tends to wane, and everyone will be either have a head-start or have become numb to the crisis, thus diluting the potential impact of your business idea.
If you need help fleshing out your ideas, reach out to 3CX and its group of companies. You may also want to read 10 Things All Entrepreneurs Must Do To Grow.
Lean startup is a methodology, for developing businesses and products, that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning. [Wikipedia]
The lean start-up methodology is all about innovating as you go. You want to get your idea into a minimum viable product as quickly as possible, measure its successes and failures, and adjust accordingly.
One area people get stuck is thinking they need a complex business plan to start. I agree that every business should have a detailed plan, but only when you have a viable business. Starting out, you want to test your ideas as quickly as possible, with as little overhead as possible, while learning as much as possible. A great way to do this is while in the process with a Business Model Canvas. You can download the kit below.
Get Up and Running
Once you’ve decided on the idea that you want to get started with, you’ll need to put a stake in the ground and register a domain and setup hosting.
If you have any questions, you can reach out to one of our consultants as 1-888-499-1115.