But the reality is that this recession is a once-in-a-lifetime benefit for those who have the courage and who are in the financial position to start a business. Many of the most successful businesses were started during economic downturn. Microsoft comes to mind.
1) High quality people are available for a reasonable price–after all, it’s a buyer’s market.
2) Same goes for building and equipment–that is, if you still need a building to contain your business. The garage attached to your house or your basement makes a perfect “building” for your start up. Think the early days of Apple.
3) The same high quality people that you’re working with from Item 1, are even Less risk adverse now. They understand that with the largest companies firing some of their best employees, there’s no such thing as a secure job.
4) Your team will be completely focused on your Strategic Objectives and fulfilling your Mission as quickly as possible because your exit plan will need to focus on being net margin Positive. This exit strategy has been unheard-of during the last 5 years. Today, convincing people to actually purchase your product or service at a profit will be the last word on your success. The days of selling your business during the early venture stages are gone. This is a good thing since ideas are $0.10 a dozen, those who succeed by having a good idea AND executing their business plan will truly be successful. Especially if you’re able to make it during the present economy.
And that opens up a whole new world of control for you, the entrepreneur. After all, if you have a successful business in this economy, you may decide to become the next Bill Gates instead of selling out.
How to Start your Own Business
1) Download our free presentation in PDF file format: “Practical guide to starting a business” www.libertiny.com/index_files/Page347.htm
2) Attend one of our upcoming meetings or webinars about how to start your own business. Sign up for notification of our next event by E-mailing us here: Meetings@LibertinyGroup.com
3) Check out our events calender: www.libertiny.com/index_files/Page312.htm
4) Follow us on Twitter: twitter.com/libertiny
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