Top 10 Reasons to Start a Business in a Recession
Very interesting article on Entrepreneur.com, written by Brad Sugars, founder of Action COACH, a business coaching franchise company, and author of a number of books including The Business Coach. (Highly recommended!)
Top 10 Reasons to Start a Business in a Recession
“More publicity. Less competition. Talent waiting to be scooped up. Here’s why starting in a recessed economy may give your business a better shot.”
Having started multiple businesses with varying degrees of success, I can say that one thing to keep in mind that it’s not easy to be your own boss. It takes discipline, the ability to wear many hats, understanding your market, your customer, and much more. Starting out with a fair amount of capital can help greatly, as it expands your options and can help you reduce the sweat you put into the early stages.
That being said, running your own show can help you stretch and grow in ways you never thought possible, and even if your business fails the experience you gain can be very valuable should you decide to jump back on the so-called “traditional” career path.
It can also help you move toward the financial freedom that just working for someone else is less and less likely to achieve. There are lots of small businesses, internet businesses, and more that can be started on a shoestring and become quite lucrative. More on that in future posts - stay tuned!
To your success,
David B. Wright
Author, Get A Job! Your Guide to Making Successful Career Moves
www.thegetajobbook.com
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At the Career Reboot Camp (Oct 26 - 27) in San Rafael, CA the subject of starting a business as an alternative to looking for a job will be discussed by several business startup experts.
In a typical recession 1 in 25 job-seekers eventually decides to start their own business. The current rate during this recession (when there are six job-seekers for every available job) is 1 in 12.
You bring up a good subject that all job-seekers should contemplate. This recession may be the kick in the pants that many corporate types need to strike out on their own. Nothing engenders creativity and persistence more than when the wolves are at the door.
There’s usually a silver lining to every negative occurence in life if you look hard enough. The recession may well be the best thing that could ever have happened to many people willing to be entrepreneurs.