Starting a Business in a Post-COVID World as a Career

• Author: Jessica Williams
• Posted: 2024-06-11

All kinds of people have all sorts of things that they want to do as a career. When little kids are asked in school what they would like to be when they grow up, the answers seem to be more than mere jobs. They seem to be visions of an actual career. They say things like politician, astronaut, a police officer, etc. Nobody says they want to stock shelves, bag groceries, or swing a hammer as a laborer. Unfortunately, however, many people end up doing those sorts of things for a living. There's no shame in it at all. Being an honest, hard-working person is rewarding, even though it might not be where you pictured yourself when younger. Most people want a career, not just a mere job, but life always tends to have other plans about what people end up doing. It's one thing to want to go through college to become a doctor; it's another thing entirely to make it through that obstacle course to have it happen. This is why a lot of people turn to starting a business as a career.

Though is it even worth it to try to start up a business in a world that's still ravaged by a pandemic? Well, if you're in America, then you exist in two worlds at the same time, sort of like Schrodinger's Virus. In some states like New York, Connecticut, California, and Illinois, the virus is still in its beginning stages and so many businesses are still closed down. Though in southern states, Florida, Texas, and the Dakotas, people there are existing in a post-COVID world, and many are starting to open businesses that are flourishing.

It's not a guarantee that your business will survive. Even without government intervention possibly shutting it down, as they shut down 80% of small businesses in 2020, you still have to understand that about half of all businesses end up failing within the first year. It's a very competitive market out there. Though if you're looking to do something and truly make a career, your own business might just be the way to go.

Low Expectations Equal Lower Capital Risk

The first thing you have to do is to check your expectations, at least initially. There's nothing wrong with having huge expectations and aspirations for your business. However, by doing so, most people end up believing that their idea is just so great that they can invest a whole lot more money because it's going to pay off. So, if and when the business fails, these people are taking a much larger financial hit because they invested a lot of extra capital that they didn't need to.

The point here being simple: If you're opening up a new business as a career for yourself, measure your expectations and invest in a very frugal manner. Once you start experiencing actual success, you can increase your investment in this career to hopefully increase your profits and market share.

Think Small and Locally

A great tip to use here is to start off thinking very small. Think about a local business. Did you know that McDonald's started out as a local business? They sold 10-cent hamburgers in a parking lot, along with sodas. That's all they did. It was started by brothers who wanted to open a little diner. Of course, from that local business, it revolutionized the fast food industry. Of course, your business might not; but the point here is that something big can grow from a local business and you can truly make a career out of it.

Fill a Market Void

Another thing you want to do is try to fill up a void in the market. If there are a bunch of furniture stores in your area, but furniture is your specialty, then maybe think about furniture repair and upholstery. There may be a void in the market here, leaving you the only person to repair the furniture, despite a lot of places selling it. This means you have the market cornered and have filled a void. And you have filled it as a necessity, to counter-balance the goods being sold. Think this way if you're thinking of a career for the long term.

Businesses still pop up constantly and flourish. Being your own boss and owning your own business might just be the smartest career choice you can possibly make.