Is Now the Time to Open That Business?

The economy is looking better than it has in a while. Could it be that time ... that time to finally open the business you've been thinking about?

Many people love owning their own business, whether they are the sole employees or if they have some people working for them.

Either way, being your own boss is a blessing to many.

Getting started could be tough, but here are some keys if you think it could be the right time:

1. Be passionate - Loving something is half the battle. It's hard to work every day on something if you don't love it, even if you are making money. If you have a skill that is in demand, say home contracting or design, it's a great time to head out on your own. Maybe you love making cupcakes or planning parties. Whatever it may be, if you love it, you'll want to wake up and do it every day. It will also show in your work and that will be to your advantage.
2. Find an emerging niche (or be unique) - A few years ago, people were excited to see frozen yogurt shops here and there. Now with one on every corner and every strip mall, it may not be the best time to open your own fro yo business. But if you get in at the right time with something just starting to explode, you could be a big winner. Think about what you love, and what's hot right now. That could be the ticket to opening your own business. Or maybe it's not emerging, but you've got a unique, awesome idea. Go for it!
3. Network - Whatever your new business may be, tell everyone about it. Shout it out on social media, advertise in your kid's school directory, tell your friends at the gym. People do like to support local business and the more people you tell about your new business, in whatever way you can, the bigger the pool to pull clients from.
4. Check your credit - Unfortunately, if you don't have funding, it will be a tough road to start a business. If you have good credit, you can find a loan, but without money, you may have to wait even if the timing in the economy is right. So check your credit, and try to clean it up if it's now where it needs to be.
5. Have a strong business plan - You can't go in willy-nilly or even the most passionate dreams will crash. You need budgets and goals and timelines and more. If you are having trouble in this area, seek some guidance. A strong business plan will get you off on the right foot.

When Do We Move Forward?

As the following article looks at, it can be hard to tell when or why it's a great time to start a business, but if your gut and finances are in agreement, it may be just the time.

The economy is good and people are excited to support local, small business.

Even the big names often start tiny - take a look at some of these creative businesses from Business Insider's Coolest Small Business list:

• Crock Spot - A food truck serving customizable slow cooked meals.

• Gatherball - A social website for vacation planning.

• PhotoMoto - A mobile photo booth in an old VW bus that can be booked for events.

Good luck and don't be afraid to think outside of the box - now's the time!