Starting A Business – The Three 'Ps'


 Starting A Business – The Three 'Ps'

" "It's never been easier to start a business. Legally speaking, you don't need a lot of money and there are fewer resources available to starting entrepreneurs than ever before."

The success rate for small businesses started in the last five years is 83.5% versus the overall US rate of 63%. From Instagram apps that sell for hundreds of thousands all the way down to local shops that offer something unique, America has plenty of accessible opportunities for budding business owners.

But before you run out into the world with your head held high, it’s important to understand what factors will contribute more towards your success as an entrepreneur in 2018 than ever before: The three ‘Ps’.

Start Up Costs Are Lower Than Ever Before!
There are many ways to start a business today: The traditional company model, selling online, selling on your own website or app, and even franchising. But with all of these options, one thing remains consistent: The costs to get started are lower than ever before!

In fact, the average startup cost in 2015 was $19,249.61 – This is down from $25,000 in 2011 – but that’s not the end of the story… In 2017, it dropped further to $18,716.

While this is startup cost that was spread over the first 2 years of opening the business, it’s still a monumental feat to catapult the US economy faster than ever with the lowest startup costs in history.

To put that into perspective, some of today’s tech startups (like Uber) have a lower startup cost than starting a medium sized business 40 years ago! With all these options, opportunities and reduced costs to start your own business – what are you waiting for?

Marketing Is Increasingly Easy and Accessible
The second ‘P’ is that marketing has never been easier – even if you have no budget to work with. From Google Analytics to social media and marketing automation – it’s never been easier to monitor and optimize your marketing efforts.

Lastly, many small businesses and startups today utilize social media to promote their enterprise. However, over the past decade, budgets have been fluctuating wildly with less of a focus on the long term; this is how social media companies grew so large in the first place!

With all these options on the table – what are you waiting for? You can probably start advertising today with little out-of-pocket. Tech has made all of this possible – now take advantage of it! You can probably start advertising today with little out-of-pocket. Tech has made all of this possible – now take advantage of it!

In-House Labor Costs Are Lower Than Ever Before!
Don’t underestimate the amount of help that you can get from your own employees. In 2018, some in-house labor costs are expected to be $35,900. This is a dramatic reduction from $56,714 in 2011 – but what do you get for that cost? You get to spend your time on other things like growing your business and implementing new strategies.

Additionally, if you have concerns about overpaying employees on a monthly basis – there are many programs available to help offset your overhead costs and even ‘specialize’ based on employee skills and abilities.

With all these options at your fingertips, you have little reason to not consider in-house labor as a strategy for your business.

When you consider all of the above together… And extrapolate that out to the millions of businesses and potential entrepreneurs out there, what opportunities lie ahead! These three ‘Ps’ are helping to propel the US economy – and with partnerships like Shopify + Amazon helping small business owners worldwide, these numbers will only increase!

Many people say that the American Dream is dead. But it isn’t – it’s just changing…

The American dream is alive and well. It’s just evolving. Entrepreneurship is one of the best possible ways to live out your American Dream and you don’t have to risk a lot of money or even quit your current job to do it!

The 3 Ps can help you launch a business that’s easier, cheaper and more accessible than ever before – and ultimately reap the benefits. Which P drives you? Let us know in the comments below!

Sources:, Inc.,,,,

* Featured Image Credit: Johnny Silvercloud via VisualHunt / CC BY-SA

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