Читать книгу Small Business for Dummies - Veechi Curtis - Страница 23

An experienced entrepreneur once said to me: ‘If real estate is all about position, position, position, then business is all about timing, timing, timing.’ He’s right, of course. If you were selling fondue sets in the 1970s, chances are your business would be successful. Try to sell the same fondue sets for a living these days, and it would be slim pickings indeed (although my mother does have very fond memories of cheese and chocolate fondue dinner parties).

If you’re not sure whether now’s the right time to start your business, consider the following:

  Fickle fashions: Humans are capricious creatures and what’s hot today may be ice-cold tomorrow. Whether the latest craze is kids going nuts about a Disney action doll or adults getting worked up about a big sporting event, make sure you’re not the one who suffers when everyone gets bored and tired. Try to jump on the bandwagon near the beginning or during the build-up — don’t leap in at the peak.

 Industry trends: The difference between a trend and a craze may seem hard to pick at first, but the difference is both real and important. Be aware of trends in your industry and capitalise on opportunities. For example, the long-term and growing interest in low-carbon and energy-efficient building supplies is a positive trend that indicates a whole host of business opportunities.

  Lead times: If you’ve got a long lead time for your project, research the project well. I remember a client who decided to build storage units in a busy country town. The demand seemed guaranteed, because there weren’t any at that time. Three years later (after prolonged development applications through council and a $350,000 construction), the units were ready. The only snag was two other developers opened units that same year, creating a glut of supply and fierce price wars.

 Bleeding edge or cutting edge? You may love being leader of the pack, but creating a product or service that customers aren’t ready for yet is pointless.

 Seasonal variations: If you’re planning a business that is highly seasonal, factor this aspect carefully into your timing when making your business plan. Give yourself time to plan carefully for the peak season so you can take full advantage of that period.

My last comment about timing is that Australia’s business environment is shifting faster than ever, and what might seem to be perfect timing right now could end up being horrendous timing in hindsight. Evaluate how robust your business idea might be in the face of natural disasters, pandemics, recessions or changes in government policy, and how you can design your new business to be as agile and responsive as possible. A business that responds quickly to change will be much better positioned to thrive than one that isn’t.