When is the Best Time to Start a Business?

Updated: September 12, 2023

When it comes to starting a business, we all get several windows of opportunity.

Our life is full of instances and scenarios when becoming an entrepreneur is just one step ahead, and all you need to do is take that leap of faith.

So when did these windows of opportunity occur and when will they happen again in your life? I’ve listed them down below along with select stories from ordinary individuals who took the chance, started a business, and succeeded.

When you’re still a kid

You don’t have big responsibilities yet, and your innocent view of the world is an ingredient for creativity and big ideas.

Nick D’Aloisio was 12 years old when he taught himself how to make a mobile app. His news aggregator app Summly was eventually bought by Yahoo! for $30 million.

He became a millionaire at the age of 17.

When you graduate from school

You’ve spent years learning, now it’s time to use and apply what you’ve learned.

When you break up with someone

It will be easier to get over someone if you’re busy doing something productive. Trust me on this one.

When you get your first job

Time to learn and hone your leadership and management skills. You’ll need them in running your business. Meanwhile, start saving money from your salary to fund your first venture.

When you get sick and have to stay home

It’s a great time to reflect and think about your passions in life. You may be lying in bed, but your mind can work and brew a business idea.

When you quit or lose your job

Finally, you have all the time to focus on starting your own business.

Jason Spencer lost his job when his company went bankrupt. With no savings and a family to support, he knew he needed to act fast. A couple of years after, his internet marketing business Tribe.ly, is generating almost $20,000 in revenue every month.

When you get a new job

Cashflow is no longer a problem. You can now eat 3 times a day while you work on your business during weekends. It’s possible and financially practical — start a business while keeping your day job.

When you just bought a new car

You’ve got your dream car, now it’s time to build your dream business.

When you get married

Now you have a business partner you can trust and who’s probably willing to work as hard as you.

When you just got kids

Start a business now, so you can eventually help and teach your child how to become an entrepreneur someday.

When you just moved to a new home

If you were able to afford a house, then you can certainly afford to save money to use as business capital. It’s now time to do just that.

When things are stable and you’re just doing fine

Because there’s not much stress in your life, it will be easier to plan and start a business.

When you just retired from being an employee

You’ll eventually get bored sitting at home and doing nothing. Start a business and leave a legacy.

Colonel Harland Sanders, at the age of 65, took his $105 from his Social Security check and began selling franchises of Kentucky Fried Chicken.

He died 25 years later as a billionaire and leaving an entrepreneurial story that will be retold for generations.

When is the best time to start a business?

The window of opportunity to start a business is always open. Sometimes it’s wide and accessible, other times it’s just a small gap and you need to push the panes and unroll the blinds to see the whole view.

Every life event, whether positive or negative, can be turned into an opportunity to develop, plan, and start a business. So don’t wait for that perfect timing, because that rarely comes.

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Photo credits: cuppini, jetsetwilly and divienna