We Are Living In The Best Time To Start A Business

Credits to Gary Vaynerchuk

We are living through the greatest era of communication change since the printing press, and this brings the greatest opportunities in recent years.

We often take advantage of the tools and knowledge that the internet provides.

The internet came about in the ’90s and has since generated a new age of wealth, particularly among younger individuals.

Today we hear stories about 14-year-olds becoming a millionaire by creating a Minecraft server, or teenagers earning millions from YouTube and selling merch. These feats were unheard of pre-internet times and are all thanks to this magical new technology.

Biaheza, a 20-year-old internet millionaire

Today you can start a multi-million dollar business with ZERO money down. All you need is a computer, a smartphone, and access to the internet—which I’m assuming you have since you’re using it to read this article.

Not every business needs to disrupt an industry or invent a revolutionary gadget to be successful. Many successful businesses earning millions a year reap in the shadows of fame while still providing tons of value to customers. As new industries arise, so do new problems and inefficiencies that are waiting to be solved.

There are both small and large opportunities for solving problems with new products. When the smartphone was invented, people needed a way to protect it from scratches and damage from daily use. People also wanted a way to personalize their phones. So entrepreneurs developed phone cases ($21.4 billion market in 2018).

Also within the mobile phone industry, entrepreneurs developed games and apps ($582 billion market in 2020) for users to get more enjoyment and utility out of their phones. As a result of the smartphone, apps, developers, cybersecurity, graphic design, and many other business opportunities were created. The same domino effect happens in all other new industries as well.

Another example is a company that helps clients send mass email campaigns inside of Gmail automatically. The founder was originally working on another product when he had a problem with sending mass emails to his clients. He became so tied up with this problem that he decided to create the solution himself. It is nothing but a Gmail plugin, and yet it earns him over $100,000 per month.

With industries constantly changing and joining the digital ecosystem, there is an abundance of business opportunities to be of service to people, even if it’s just online.

So what is so special about the internet, and why does it help us in business?

  1. We can learn practically anything with a quick Google search or a YouTube tutorial. Traditional schools are slowly becoming obsolete for being the best place to acquire knowledge.
  2. It’s free. Universities can cost tens of thousands of dollars while you can find the same information on the internet if you look in the right places.
  3. Younger people are being respected in business because of their tech-savvy nature. Just ten years ago a teenager would never have been respected without noteworthy certifications and credentials.

Technology is the only area of life your parents ask you for advice. And the market now values it more than experience and contacts.

Well, what if we are going through a global pandemic and the economy is taking a hit? Bestselling author of The Lean Startup, Eric Ries says that there is opportunity within crisis. If you actually look at the healthiest companies today, a good portion of them was created during or benefited from an economic crisis.

General Motors, IBM, Toyota, Disney, and HP were all created during an era of economic downturns. There is always an opportunity to serve through business no matter the situation. Money never stops flowing.

We are lucky to be living in a time where the internet has hit its maturity level. And as more businesses and customers move to the internet, someone (YOU) is needed to supply the increased demand.

The barriers to entry have loosened. The playing field has leveled. New industries created new opportunities. Now is the best time to start a business.

The internet is no longer a web that we connect to. Instead, it’s a computerized, networked, and interconnected world that we live in. This is the future, and what we’re calling the Internet of Things.”

Bruce Schneier, Security Technologist & Author