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Fabrice Grinda writes:
There is no better time to start a company!!
The opportunity cost has decreased as many high paying jobs have
disappeared and employment opportunities in general have lessened. If
you have a job, companies will have less room to give generous bonuses
and/or raises.
It’s going to be harder for entrepreneurs to raise money, but
competitive pressures decrease dramatically in downtur
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Comments
10.16.08
I agree yet I am still freightened by this thought.
For a new business this time of scramble is an opening to develop and fill niches that may be unexplored and underexplored in the marketplace.
Remember that most of these new businesses will not make it and many people who started these businesses will return to work after the economy recovers.
People are reacting and scrambling - this is why saving is important.
Staring a business is a great prospect - and I encourgae all to do it!
10.17.08
Hehe, nicely said- the fundamentals of business certainly haven't changed.
The downturn will show those companies that had a legitimate business model, satisfying an actual need, with a well managed burn rate compared to those that were trying a fund and flip.
While it is a scary time for businesses overall, it /is/ also a great opportunity. Smart strategic maneuvering can really put a company ahead of its competition now, and perhaps it will also help in forcing some more long-term orientation that some companies may otherwise have lacked.
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