Economic Downturn = Opportunity
By The Tim on Nov 7, 2008 in Commentary
Here’s another article on the subject of starting a business during an economic downturn: Entrepreneurs see upside in downturn
The faltering economy, tanking retail sales and a real estate market rife with foreclosures didn’t keep Ritsuko Miyazaki from launching a ceramic art store.
“I know some people would think now is not a good time. But you never know. Tomorrow may get even worse, and this is something I’ve wanted to do for a long time,” said Ms. Miyazaki, owner of Clay Mix in Fresno. “So why not now?”
Experts generally agree. Despite a tough economic climate, starting a business now has advantages for entrepreneurs with solid business plans and adequate financing.
“These tough times really force people to practice good business behaviours,” said Melissa Chang, founder of Massachusetts-based Pure Incubation, a business consulting firm. “It helps you persevere and understand that difficult times happen.”
There’s nothing particularly new in this article that I haven’t covered in past posts, it’s just nice to see another bit of press affirming that startup businesses can be successful in a period of economic turmoil.
In related news, this month’s revenue picture is shaping up to be even better than the last. It would seem that my motivation and performance in the business lately has been inversely proportionate to the shape of the economy.
Hey, you’ve made it half a year and your still at it and your revenue is going up.
Regardless of whether you work for someone else of yourself, it’s all about how much each person produces either on their own or as part of a group and is it enough to justify their existence.
Congrads on the revenue increase, sounds like you may have been at one of the ol do or die stages :-)
Stephen | Nov 14, 2008 | Reply
How are things going for you Tim? Do you have an update to show the score at 12/31/2008?
HandyMan | Jan 27, 2009 | Reply
It’s been a year and a half. How have things gone?
Joel | Mar 11, 2010 | Reply