THIS ECONOMY SUCKS!
Yes, we all know this. The past two years in particular have been extremely rough for even the employed, but there is a silver lining in our dark cloud. What is it you may ask? Well, according to many analysts, this is the perfect time to start your own business and I could not agree more. The truth is, we've been through this crunch before. So let me put my History degree to work for a moment so I can get you to thinking about taking the plunge.
First, let's jump into the time machine back to 1973. Nixon was in office, the economy was not the best, the US was still in Vietnam, and the world was experiencing the oil crisis. During this time, the cost of the gas rose 50% and there was gas rationing. Although times looked bleak, some very famous start-ups began, including: Famous Amos Cookies, Supercuts, Chili's and a little company called Microsoft.
The truth is, many of the companies on the DOW were started during an economic downturn, including McDonald's, Proctor and Gamble and Disney. I'm not saying that everyone will make a killing, but this economy is offering an economic opportunity to be independent and have the life you want; and even if it does not work out, you still do not have much to lose.
The Wall Street Journal just published a story recently about the tech boom happening in New York away from Wall Street and big businesses. This should definitely ring a bell for those old enough to remember the economic shambles the country was left in due to trickle down . This allowed many young people to start their own business in the 90s with the then groundbreaking internet.
The truth is, our economy has been kept afloat by not big business, but the power of small businesses for 20 years now. If you've been thinking about opening your own business, I challenge you to really start making moves to make it happen. Start putting together real ideas of what you want your business to look like. Start really researching where there is a need for your idea. Start pricing locations if your business needs an actual building. Just start. Research is always free and you may not need as much capital as you think. Besides, you may surprise yourself and will make your dreams come true.