Why are you considering starting a business in a recession? In the economy as we experience now, it is very difficult to decide what to trust. One minute we were told that there was no money to get around, then we were told that the economy was recovering.
Many people will notify you not to think of starting a business today, in this uncertain age. For them I say, garbage
If you look back for years, you will see that there is always a number of uncertainty, but you will also find that there are always many opportunities when the economy is in a state of constant change.
Here are five very good reasons to consider starting your business business now or starting the motor forward if you have started your new business.
1. Recession forces you to be economical
When you start a business without money, you are very quick to learn the discipline needed to run a business while being economical. Obviously it needs to be taken into account every penny in your business but if you don’t have the money it is an absolute need and when these lessons learn, they are remembered forever.
Having limited money forces you to be more creative and maintain strict expenses, this forces us to do a thorough test over all our expenses and to question all the sources that try to part with us with our money. We also found good suggestions even more important.
2. Recession forces you to focus more
One of the failures of entrepreneurs is to fall in love with an idea, you will develop and maintain a product even if it is based on defective ideas. A business built around defective products, is a business built on the foundation of sand and even though you will look like you are fine, in the long run that the business will collapse.
But during the period of economic uncertainty, a good entrepreneur would see the idea very close before jumping in.
You will ask yourself a question like:
Will there be a market for this product?
Is the market big enough to defend it?
How in the market?
Do I have the capital to see this project?
Will the product benefit the market in bad times and also good?
This and many other questions will force you to look old and hard whether the product is good enough to be brought to the market.
3. The team you form will be made during the recession
It is a fact that during the wonderful times it’s easy to find work, but during recession, the work isn’t as easy as it comes, therefore anyone you take to work with you will be far more committed to adventure because they don’t want to be redundant and will Trying harder to make your business work.
This is of course if you can make anyone to work with you because if they already have a job, they will be reluctant to let him join your new company, but if they join you, they will be truly committed to that business.
4. Your time will be asked
Every time you start your new business, you, like other people have to start from zero. But if you have found a good niche and you have done research and your market target has a disposable income then there is no reason to think that this won’t work.
A man you might have heard, started his business during the recession and had done well, called ‘Sir Richard Branson’ and the answer, let’s do it.
By taking action now you will start with the head in all competitions sitting on the sidelines waiting to start after the recession is complete.
5. Recession strengthens you
A recession like a really difficult winter, during the very hard winter all bugs were killed and came spring everything was fresh and new and the new balance was restored, this was like a recession.