How about that headline? Pretty shocking, eh? Actually, most might consider it pretty laughable, but it really is not. Now is an excellent time to start a business not because everything is rosy, but because everything is so down.
The Great Recession sure feels like a Great Depression to most of us. Between unemployment, home foreclosures and a business environment that seems like it should be one of Dante's levels of hell, these are not the golden days of our country. Given this, how could I possibly suggest it is a good time to start a business? There are a number of reasons.
The first reason is simple. Now is a great time to start a business because so many others are so overwhelmed with debt that opportunity abounds. This is somewhat similar to the housing market. As bad as real estate is, there has never been a better time to buy. Values are so low that those who buy and wait four or five years are going to make a bundle. It is as simple as that and the same is true of business.
The second reason you need to consider focuses on opportunity. The Great Recession changed the focus of millions of Americans. Suddenly, saving money is all the rage. Most businesses, however, are tailored to consumers spending it. While some have effectively repositioned themselves, most have not. This creates niches of opportunity for entrepreneurs who find that special niche and go after it. The niche can be local or can be national.
The people who really make money in this world are the ones who do not follow the heard. They are known as contrarians. When the real estate market was booming, they were setting aside cash knowing it would fail. When it eventually collapsed, they were moving in and buying properties on the cheap. This is how real money is made.
Take the time to sit down and think about the world around you. Yes, there is a bit of doom and gloom at the moment, but there is also opportunity. How can you take advantage of it? Figure out an answer and you have a great business opportunity.
Richard A. Chapo is a business incorporation lawyer with SanDiegoBusinessLawFirm.com.
Reprinted from GoArticles.com
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