Start A New Business During A Recession? Yes!

With so many people out of work these days, some are deciding to venture out on their own by starting a new business. Many prominent businesses were started during a recession. Allstate Insurance, Microsoft, Disney and almost half of Dow Jones Index companies started during a recession. In the July 13, 2009 issue of Time Magazine, Robert Kiyosaki, the Rich Dad, Poor Dad author stated,

“When times are bad is when the real Entrepreneurs emerge. Entrepreneurs don’t really care if the market’s up or down. They’re creating better products and better processes.”

How do people make it during down times? They become more creative. They are willing to look at things differently, because things are different. Many people are still operating in the Industrial Age mindset of going to college and getting good grades, so you can work for a large corporation and retire.

But we are now in the Information age. Many are finding college too slow and expensive. Since 2007 many graduates are finding themselves deeply in debt and needing to work for lower wages if they can find a job at all. Meanwhile, self-educated entrepreneurs are becoming the business owners who hire college grads to work for them. The business owners may obtain similar debt, but they have a company that is making profits, which provides an income and debt service.

But how does that affect traditional industries like restaurants? A lunch wagon owner in Los Angeles is using Twitter to alert customers where they will be in 30 minutes. They are arriving and finding customers lined up to buy their food. Delis are providing small discounts to their customers who E-mail their lunch orders by 10 am. That way the deli can make orders up ahead of time. They are even providing a separate pick up lane for those prepaid orders. The customers are happier and the deli is becoming more profitable.

Others are looking at network marketing, the concept of being able to become a franchisee for a major company and their products. It saves the manufacture millions of dollars in advertising and allows common individuals to build a business that they own. No more downsizing or layoffs. It is their company, which can be handed down to future generations. These business owners can duplicate themselves by helping others do the same thing. This is providing residual income for hundreds of thousands of individuals throughout the world.

So don’t sit at home wondering what to do, investigate owning your own business.    Send article as PDF   

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