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The COVID Small Business Boom

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Photo by Artem Beliaikin on Pexels.com

The Commerce Department said on Thursday, July 15, 2021, that business applications reached a seasonally adjusted 448,553 in June, 2021. In total, Americans have started 6,714,318 new businesses since the pandemic began last March, which is an all-time record.

According to Julia Pollak, an economist with ZipRecruiter, COVID created a very unique set of circumstances that made ideal conditions for people to start a business.

  • Many people were laid off on furlough and suddenly had time, but they didn’t have time that they needed to use to spend desperately searching for work because they also got a little bit of fiscal support. So there are many people who took that stimulus check and decided to take their $1,000 and use it to start a business.
  • Also, starting a business now is really fast and really cheap. You can register your business for just a few hundred dollars. And a lot of these companies are really little. It’s like a little store on Amazon or on Etsy. The startup costs for these businesses are super-low, so a stimulus check for $1,000 can make it happen in a way that it couldn’t have even 10 years ago.

If you are ready to start your business, contact us and let’s discuss the right path for you.

Believe in Yourself

There is a lot you can achieve if you believe in yourself.

Truth

An Instagram post from one of our clients.

The path to success is rarely linear or the same as for others.

An interesting fact

Genghis Khan - Your Startup Guru
Genghis Khan

After the murder of his father, Genghis Khan went into poverty, even being enslaved at one point. It wasn’t until he was in his 50’s did he rise to power and become the Khan of Mongolia.

Wash 2020 Away

Wash 2020 Away.  It is a new year and a new opportunity to build something great - Your Startup Guru

It is a new year and a new opportunity to build something great

Begin today

Make the right choice

Money is extraordinarily tight for most people right now so starting a business is a pipe dream that has been put on hold indefinitely. However, you can make the choice and do the many things you can do with little or no money to continue to make incremental progress.

One of the most important yet least expensive things you can do is gain knowledge. Research into who your customers are, who your competitors are, what it costs to launch, who can supply raw materials for your product, etc. is relatively inexpensive with a simple online search but a critical. Research is an important task because it also tells you if your idea is feasible. A feasibility study is done to consider the various aspects of a business to see if it is a viable undertaking. Very briefly, feasibility studies are curtailed business plan-like documents where you outline your product/service, the business model, your competitors and your customers, expected revenues/expenses/startup costs. A well done feasibility study can save hundreds of hours and thousands of dollars in sunk costs.

Your Startup Guru offers price matching, discounted fees, and revenue sharing options to work with tight budgets. Contact us to get started on your feasibility study.

Make the right choice — do not go back to sleep and just dream.

Keep going

If you're going through hell keep going.  Winston Churchill.  Your Startup Guru

Things are quite difficult right now. When things are difficult it is best to keep going. As British Prime Minister, Winston Churchill once said at a time when Germany had a strong grip on Europe during World War II, “If you’re going through hell, keep going.”

Relevant words during these tumultuous times.

Don’t let a lack of discipline undermine this opportunity

Your Startup Guru.
Find the Silver Lining in Every Opportunity.
If you don't come out of this quarantine with:
A new skill, Your side hustle started, More knowledge.
You never lacked time, you lacked discipline.

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