Launching a Small Business in 2020

Running a small business is extremely easy today; there are hundreds of places that can help setup the process of sales and connecting with prospective clients.

If we used to be limited by the city we are located in – in today’s world it’s significantly easier to launch an online business from a remote area and therefore have a lower risk of failure due to the cost of living.

I am familiar with a few bloggers and sellers that chose to live in remote locations due to their ability to get work done and require lower amounts of money to get things sorted out.

One of the few skills I’ve learned over the years is how to go from 0% to 60% in a consistent manner.

To me the starting kit contains a few essential tools

  • Deep understanding of your market needs and habits, this will help you understand where you will advertise (freely or paid) and then convert people into sales
  • Clear brand that resonates with the clientele and yourself
  • Website, a Facebook page & an Instagram page
  • Dedicated phone number for the business

Once those are ready – you can move on to getting content flowing and seeing how the brand expands from there.

It is critical to not overextend ourselves and avoid getting everything perfect from the first shot. Often we will be able to realize that our expectations on things should be don’t actually materialize and we require an adjustment. It is therefore much easier to do it when your time investment to get things rolling was too big to avoid the sunk cost fallacy.