If you’re in your late 20s or early 30s you are likely to be in an awkward position as far as careers go. Many people in this age bracket have recently graduated from higher learning but find that jobs in their fields are hard to come by. According to recent NPR articles, this age group is experiencing the least amount of growth and the most frustration of any age group before it. For many people it seems like there is no upward mobility. Others report that they feel trapped by the day-to-day workload and are not free to reach their full potential. What this means is that more and more people are taking the risk and striking out on their own in the hopes that they will reach their full earning potential and be happier in their career path.
How Tech Savvy Are You?
It’s true that the advent of iPad credit card readers and linked software make it simple for anyone to open a storefront. However, you have to be comfortable with that technology before you even start using it. The problem that many people have is the lack of a true tech support system for small business and start-ups. You have to be self-sufficient in these areas or be able to afford the help. It’s not as easy as simply plugging your Square or PayPal reader into your phone or iPad and going off to your next event. There are things to be installed and programs to run alongside the hardware before you even swipe your first credit card.
If you are worried about understanding the technology, you should try looking at local community outreach programs and see if anyone is offering classes. Many cities, like Columbus, Ohio, are trying to revitalize their older business districts with a push for small, local businesses. These innovations tend to come with a built-in support network that can be pivotal to your success.
Can You Work Long Hours?
It’s no secret that small businesses are a lot of work. Ask anyone who has their own and they’ll tell you about long hours and the times they had little to show for it. Just because your local small brew house is only open from 4pm to 10pm three nights a week does not mean that that is the only time that they work. There are hundreds of behind-the-scenes things that need to be done for every small business. Before you embark on your start-up, make sure that you understand exactly what you will be getting into. Take the time to visit other businesses that will be similar to yours and see if you can get your foot in the door at local small business and startup gatherings.
Certainly with the invention of things like credit card readers, anyone who has a talent or a skill can open a small local shop or home-based business. It is true that starting up a company involves less overhead cost than there has been in the past. It’s also still true that most small businesses fail; starting a small business is a risky endeavor. However, that does not mean that it’s not worth it. If you think that you have a handle on the technology and feel like you are able to pull in the work, it may be exactly what you need to reach your potential.