Is the Recession a Good Time for Startups?
You have a viable business idea, but everyone keeps telling you to wait until the economy turns around before you move on it. A recession may seem like a bad time to start a business, but in reality it may be the perfect time for you to create your dream job. With less competition and lower prices for supplies, now’s the time to get in where you fit in. A startup is risky no matter when you lay the groundwork; success largely depends on the type of person you are, and the clarity of your vision.
In the initial set-up process, you have to be open to re-evaluation of your idea. The key is figuring out how to run your business economically. Those that are afraid of traditional investments, like stocks, will be open to new ventures if they appear economically responsible. You may have to tweak some aspects to satisfy the investors, but it’s worth it.
Technology is a resource that creates an extremely viable environment for a startup company. Utilizing virtual offices cuts major and minor costs. You won’t have to worry about employee health insurance costs when your people telecommute and work from home. Other costs, like utilities, remain affordable without the extra bodies in the brick and mortar office.
Virtual office options like virtual phone services are a great option because they allow you to conduct business from anywhere with call forwarding to cell phones, sending your voicemails to your e-mail, unlimited extensions for high call volume, and a convenient toll free number if you want to go global.
Don’t let the media deter you from pursuing your dream or trying something new. The time is now to execute your vision. Recessions occur within a cycle; once this rebounds, you want to be up and running.