How a difficult situation can lead to a great business idea
For some individuals, the desire to be an entrepreneur is something they are born with. Having a vision, tenacity, and a willingness to defy convention are some of the traits of successful entrepreneurs.
As we’ve discussed previously, entrepreneurs and veterans share many of these common traits, making veterans especially suited to run their own small business. ABC news reported a story that illustrates an example of this point. The source detailed the story of a former member of the U.S. Air Force, Frederick Hutson, who always had an entrepreneurial spirit. He started two businesses when he was 19 years old and in his early twenties.
However, when Hutson was 30, he experienced a setback that landed him in prison for several years. During this time, Hutson noticed that it was difficult to stay in touch with family and friends, and a new business idea was born.
“Even though you have family members that love you and care for you it is very hard for people to live in a digital world to stay connected with someone who lives completely in the analog world,” Hutson told the source.
Because of this experience, Hutson saw an opportunity to create a service called Pigeonly that would allow better communication between inmates and their family and friends. He now runs his own company, which has ten employees.
Sometimes a difficult situation can lead to a great business idea. As Hutson’s story shows, the ability to be resilient and persevere through difficult situations can also contribute to entrepreneurial success.
Entrepreneurs looking to start a small business venture should consider the benefits of incorporating. An online incorporation services company can provide the information small business owners need to be informed about their incorporation options.