Got into a discussion with friends last night (poker game) about starting a business. From around the table came all the negatives. The economy is in the dumps, credit is restrictive, my friends all tell me I am nuts, most businesses fail in the first year, on and on.
Ok, all this is true but the flip side of that is 47 people become new millionaires every day in the US. (US Census 2010) Obviously someone is doing some thing right. People tell me I am the eternal optimist and that has some truth to it because when I look around I see opportunities just about everywhere. I see so many of them the hard part is not allowing myself to get side tracked! (Just ask my wife.)
From what I have learned the "trick" to going into business is not the type of business, or having deep pockets, or even the economy. It's knowing your limitations and strenghts and then having faith in that knowledge and the DESIRE to succeed. I personally would have no qualms about starting a business in the current economy if I believe it's the right opportunity and will "fit" my style of management and personality. If the business is something you do not have a real like of, don't waste your time, it won't work. It really is all about YOU.
I will go out on a limb and say a down economy may be the perfect time to take the leap. In a down economy everyone is looking for ways to cut expenses. If you can find a way to do that for them you will succeed. The other side of that coin is people / business are ALWAYS looking for ways to increase sales / profits and if you can do it for them you can write your own ticket.
The point I was making to my card playing buddies is that if someone has a real desire and a basic concept that makes sense, I say go for it. The only tough part is being honest with yourself and knowing it's something you really want.
Disclosure: I've jumped on opportunities that did not work out. My take on that is you can never hit a home run if you never go to bat.
Ok, all this is true but the flip side of that is 47 people become new millionaires every day in the US. (US Census 2010) Obviously someone is doing some thing right. People tell me I am the eternal optimist and that has some truth to it because when I look around I see opportunities just about everywhere. I see so many of them the hard part is not allowing myself to get side tracked! (Just ask my wife.)
From what I have learned the "trick" to going into business is not the type of business, or having deep pockets, or even the economy. It's knowing your limitations and strenghts and then having faith in that knowledge and the DESIRE to succeed. I personally would have no qualms about starting a business in the current economy if I believe it's the right opportunity and will "fit" my style of management and personality. If the business is something you do not have a real like of, don't waste your time, it won't work. It really is all about YOU.
I will go out on a limb and say a down economy may be the perfect time to take the leap. In a down economy everyone is looking for ways to cut expenses. If you can find a way to do that for them you will succeed. The other side of that coin is people / business are ALWAYS looking for ways to increase sales / profits and if you can do it for them you can write your own ticket.
The point I was making to my card playing buddies is that if someone has a real desire and a basic concept that makes sense, I say go for it. The only tough part is being honest with yourself and knowing it's something you really want.
Disclosure: I've jumped on opportunities that did not work out. My take on that is you can never hit a home run if you never go to bat.