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- Is the recession a good time to start a small business, or should I wait?
Norman Leach
Operations Management | Start-upDid you know that some of today's best companies were started during a recession? Google, Microsoft, Apple, FedEx, and hundreds of others like them. Here are a few reasons not to wait:
You will develop great business habits in a recession. When you start your business in a down economy, you're forced to develop great spendthrift habits.
You will create systems and processes that will enable you to build your product as cost efficient as possible. You aren't going to waste money marketing.
You will be forced to be a great company right out of the gate. Businesses and consumers alike are more judicial with their spending during a recession. They are not willing to buy average products and services that may or may not prove to be good enough to solve the problem that they have. They want the best possible (affordable) product that will solve their problem the best.
If you can succeed in a recession, then you'll thrive when the economy picks up.
Get out there and get started
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About Norman Leach
Norman Leach is President of Norman Leach and Associates, an international consulting firm specializing in international trade, marketing, and public relations, with a goal of fostering economic development and growth.
