When is the right time to start your own business?

A woman sits on her sofa working on her tablet while she contemplates starting her own Amway business.

If you are like some people, joining the ranks of entrepreneurs is on your bucket list.

You can imagine being your own boss, having the freedom to set your schedule and using your many talents to make your clients happy.

If that’s the life you want, but you continue to put it off, you may be creating another barrier keeping you from your goal.

Racing the clock

According to the 2018 Amway Global Entrepreneurship Report (AGER), people’s confidence in their ability to start a business declines as they get older.

The survey of nearly 50,000 people around the globe found that feasibility—people’s belief in their ability to start a business — reaches the highest score for respondents between the ages of 35 to 49.

Similarly, stability—people’s ability to stay determined against social pressure—is highest among respondents younger than 50 across the globe.

Looking for the ideal

So what is preventing people from starting a business when their confidence is peaking? It may be false assumptions about challenges.

Just over half of U.S. residents surveyed by AGER believe that the economic situation is beneficial for starting a business (57 percent) and that dealing with taxes is manageable (55 percent). While just under half (44 percent) believe that rules and regulations around starting a business are easy to understand.

The report also showed that today’s entrepreneurs are looking for low-risk options, the support of a community and a venture that includes personal interaction with others.

The direct selling route

While launching a business can seem like a giant endeavor, it doesn’t have to be. Many options allow people to test the entrepreneurial waters before going all-in.

Direct selling is a frequent path for millions of potential entrepreneurs because it doesn’t require a big financial investment, a particular educational background or specific work experience.

Direct selling companies also have already done the groundwork of product research and manufacturing and often have an established business support system.

That doesn’t mean it’s easy. Like traditional business ownership, this micro-entrepreneurship model requires effort, sacrifice and time to reach a substantial income. And experts will tell you to do your homework when considering direct selling options to ensure the company is reliable.

So, find out how long a company has been in business. Check out the quality of its products. And investigate the company’s reputation in the direct sales industry.

Low cost, low risk

One of the oldest and biggest direct-selling companies is Amway. The company provides high quality products, such as cosmetics, nutritional supplements and home care essentials, including air and water filtration systems.

Reputable companies like Amway make it easy to get started. For example, in the United States it costs $62 to become an Amway Independent Business Owner. And the company’s AmwayPromise includes a return policy if you decide being in business for yourself isn’t right for you.

This low-cost, low-risk entry to entrepreneurship is what appealed to Anthony Melillo, who signed on as an Amway Independent Business Owner in 2011.

“I compare this business to my traditional business where I have rent, I have overhead, where I have to pay overhead whether the money comes in or not,” Anthony said.

The AmwayPromise also offers a 100% satisfaction guarantee, warranties, extensive customer service and the right to know the details of all consumer protections and inventory buy-back policies.

So, as you take inventory of the pros and cons of starting a business, don’t let timing keep you from following your dream.

After all, as Mark Twain once said, “The secret of getting ahead is getting started.”

Leave a Reply

Your email address will not be published.