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Leveraging Low Rates and Large Talent Pool to Start a New Business in 2020

This year has been a trying time for many, but 2020 still offers bountiful opportunities if you can look at it with an eye towards various silver linings that might be present. For example, the fact that many businesses are discounting their services and the economy is in flux actually makes it so that there are lower rates and a broader talent pool that can be leveraged by savvy business owners.

Of course, if you don’t yet have a business launched, it might seem tenuous to make that decision during a year in which a global pandemic is raging. Nevertheless, there are actually a few ways you can make the most of the situation if you’ve been sitting on a business idea for a few years just waiting for the right time to get started. Here are a few ways that forward-thinking entrepreneurs can leverage low rates and a large talent pool to start a new business in 2020.

Save on your IPv4 addresses.

If your business involves having its own IP addresses, it can be difficult to parse through what’s a good deal and what might be just a tad shady. Sadly, most IPv4 addresses are on some sort of IP block list, meaning that you could actually damage your business’s reputation by purchasing and using the wrong IP address. Thankfully, there are websites out there that do help you buy addresses that have a clean reputation and are good-to-go. If you’re not quite sure where to start, just Google “buy IPv4 address” and see what your options might be.

Attract the best employees by using ZipRecruiter.

Millions of Americans who’ve filed for unemployment, which means that there are hundreds of qualified individuals on the hunt for jobs. This makes it an ideal time to get top talent to join your new entrepreneurial venture since the likelihood that you’ll receive high-quality applicants in just the first week of posting your job is quite high. Using a website like ZipRecruiter can make the recruitment process much more straightforward and easy, automatically connecting you with qualified candidates. ZipRecruiter automatically posts your job on dozens of job sites, ensuring that your job posting will attract the interest it deserves.

Take out a bridge loan to help fund your launch.

Of course, starting any new business requires money to get the ball rolling, especially if you’re looking to hire top talent. It might make sense to look into local private lenders in order to find the best rates when it comes to getting a loan. After all, if you don’t compare different types of loans, such as bridge loans or hard money loans, you won’t know which is right for you. Head to Google or another search engine and type in “bridge loans Oregon” (or wherever you are) to see what sorts of details you can find out about lenders in your area. Many lenders offer bridge loans in a variety of sizes without FICO minimums or bank statement requirements.

Align your team with powerful OKR tools.

Once you’ve launched your business, it’s important to clearly define your goals. Especially for the first few years, knowing what needs to get done each quarter to meet company goals can pay major dividends and help you actually achieve what you want to as a new company. One way to ensure that everyone on your team is on the same page is to use a framework like OKRs to help define and meet your priorities. OKR stands for “objectives and key results” and refers to a methodology of goal-setting pioneered by two of the founders of Google. There are even software solutions that help you define, measure, and assess your OKR objectives and OKR key results, which can be a major boon if you’re new to the OKR ideology.