2020 forever changed the landscape of our economic market. It changed the way businesses do business. The pandemic changed how we all work and where we work from. What did we discover? We can work almost anywhere. With that new found realization and opportunity, we found ourselves with a plethora of creative entrepreneurs who decided a pandemic would be the perfect time to learn how to start a business!
According to the Census Bureau, more than 4.4 million new businesses were created in the U.S. during 2020. While that sounds like a huge number by itself, it was a 24% leap from 2019 and over 50% increase in the average number of businesses started between 2010-2019. When surveyed as to the biggest reasons people were starting their businesses in 2020, two reasons rose to the top.
- Creativity with time to create.
- The opportunity to Be Your Own Boss!
Now we have startups everywhere and new businesses that we all want to support and buy from. However, prices and costs to manufacture have never been higher! We are seeing a major strain on costs to create products as well as costs to simply keep employees on payroll. So, what do new businesses or new business entrepreneurs need to do to compete during these uncertain times of high inflation?
Warren Buffet was interviewed during the pandemic and asked, “During times of inflation, what advice would you give to people investing? What should they change? What should they do?” His answer was simple and surprising. He didn’t have some amazing investment opportunity or a million-dollar idea to sell. His advice was, “The best investment against inflation is to improve your own earning power, your own talents. Very few people maximize their talents.” He goes on to say, “Increasing your own talents can never be taxed and no one can ever take it away.”
No one can ever take that away from you! Your earning potential! Your skillset!
See 10:02 through 11:48 Warren Buffett Explains How To Invest During High Inflation
So what are you waiting for? Stop looking for ways to cut costs. Stop looking for ways to increase business overnight. Stop looking for ways to produce cheaper or sell higher. Improve your earning power by investing in yourself! Do YOU have what it takes to successfully build your business? Do YOU have the traits, the knowledge, the skill set to truly create, construct and build your product base into something successful?
I’ve started and successfully run 18 businesses. I’ve learned some things along the way and I want to help you. I can help you invest in yourself and in your business by improving how you go about starting your business. Being Your Own Boss has never been easier than it is right now. My entrepreneurial academy is a simple to follow program where you get to truly invest in yourself. Invest in your knowledge and understanding of how to start your own business. What are you waiting for? Click the link below to get started investing in yourself!