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Is now a good time to become a business entrepreneur?
I've always wanted to start my own business, but I'm worried that this isn't the right time. Should I put my dreams on hold? I'm trying to pursue the telecommunications industry or something along the lines of lead generation. Any advice or resources would be very helpful.
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3 Answers
Congratulations on recently graduating! Exciting stuff. I wouldn't tell you to put your dreams on hold, but the reality of start up companies being successful beyond the first year is slim to none. I don't know the exact number, but its somewhere around 10% succeed and that number could be smaller. Make sure you do a lot of research in your industry and find a business mentor or lawyer to answer some of your difficult questions. It's a big time commitment to run your own company, so make sure you're fully invested into this company. You'll have a lot of responsibility if your company continues to grow. I did a simple google search for start ups, so hopefully this will help you in figuring out your next steps. Best of Luck!
http://sbinformation.about.com/od/bizopportunities/a/startup101.htm
Hello Paul,
You haven't specifically mentioned what kind of business do you intend to have? If you could explain that then I would be in a better position to help you out. Why do you want to put that on hold. Every business start up is associated with a high level of risk. But as it goes "High Risk , High Return. No Risk, No Return" But you need to do proper thorough research about your business. Make a business plan and seek some professionals help. If all goes well then go for it.
Believe in yourself and you will do a good job. Best of luck.
If you need further help, feel free to contact me.
Jesicca
Paul
Hands down, I would recommend the lead generation industry over telecom.
The rate at which telecom is changing and the proportional rate at which the margins are shrinking make it a very tough business to thrive in.
Most of the big boys are losing their shirt so it is very hard to raise capital for a startup in this space.
On the other extreme is the lead generation space. It is an absolute gold mine of an arena especially if you can figure out a way to generate qualified leads for small to mid-sized companies.
Leads are the lifeblood of the business world and you cannot lose supplying leads (barring doing something really boneheaded - which every entrepreneur is entitled to do at least once in their life).
I've built a couple of lead generation companies in my past and they were all rocket ships of growth.
Do your homework. Build a strong strategic plan. Find some really strong competitive advantages and hit the market hard. There is huge demand for outsourced lead gen these days.
Joe...
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