Starting a business in this economy

This year has been my best so far, the state of the economy has been good for my business.

Don't let it put you off taking action.

Honey, this economy is no match for us Internet Marketers! I've found that I've been busier simply because more people are looking at how to make "alternative" incomes.

You can DO IT!

I personally do not see any downside to the economy, does not and has not effected my business one bit... Will things get worse ? nobody can say 100% for sure it will or it will not.

The best thing to do is strive forward with your business and make it work the best way it can work for you.. People spend money today just like they did 5 years ago.. Come on look at all the "stupid" crap on infomercials, those people make a killing..

James

Well, you know, there will always be people around who can afford to spend money...it's as sure a thing as death and taxes. So there's always a niche ready to be filled or a new way of doing things that no one's done before...

You just need to find it and work it!

Economy always like a roller coaster and it does not mean all businesses are in bad shape. Some are still doing fine.

You can start off something small first and once things get moving, then you can expand.

Things that always take us back is sometimes we worry too much. At times we must take action though there may be some risks. If you don't do it, you will never know if you can make it or not.

Do a little research and go for it.

I start a new business everytime I purchase a domain name! You just need to give people what they want.

https://adwords.google.com/select/KeywordToolExternal

^ That alone is powerful! It tells you what they want, the search volumes are there, the trends are there, Amazon associates is there, all you need to do is create the site and give it to them. Again this is easier said then done because
you need a system in place. If you don't know the process (and this goes for anything in life) you won't get very far.

Now is a great time to start a new business, just remember however you need enough capital to carry you through until it's profitable or an alternate source of steady income.

You need to just jump in. That is what I am going to do early next year....

My wife and I sold a thriving service business last year just before the economy tanked. In February of this year we forged ahead with our new retail business, a gourmet wine and cheese shop, in a town we'd just moved to with about 50,000 people in it.

I'm not going to lie to you, we were worried as hell that we were making a mistake and seriously considered hanging on to the proceeds from the service business, rather than pouring most of our funds into a new retail venture. We were in a strange town where we knew absolutely no one, and pushing fifty. The thing is, we really believed that we could make a go of this, and so far we've exceeded our expectations. I think there are several factors that have enabled us to do well in a bad economy, relevant to any business:

1. As has already been noted in this thread, there are always people with money, no matter what the economy is doing.
2. We always treat our customers as if our livelihoods depended on them, because it does. This goes beyond pleasantries exchanged at the cash register. We warmly greet everyone that walks through our door, we are open on time every day, and we never close early or rush someone out the door just because it's time to clean up and go home. It completely blows my mind whenever I encounter bad customer service from someone.
3. We found a niche, and filled it. Yes, you can get gourmet cheese at the grocery store nowadays, but you can't get the depth of knowledge about the cheese from our competitors. Same with the wine selection; we hired a sommelier to consult with us so that we could offer something our competitors did not. In other words, you can fill a niche anywhere, just by doing it better than everyone else.

Because of the way we treat our customers, they are spreading the word. Every single day we get a few new customers that tell us they've been meaning to come by because their next door neighbor or co-worker or best friend or sister was "bugging the hell out of" them. Speaking of spreading the word, we advertise where we can best reach our intended customers, which in this case happens to be the local newspaper and Facebook.

Good luck,

Will

Speaking of the econ. I would suggest ya start a const.biz in cali.
I/m is looking better every day ,just sayin.
Tommy

If it is a niche that you can have appeal to the affluent, there is never a bad economy

Now is the best time to start an internet business. The growth of the internet will continue for as long as the internet is alive.

Perhaps you'll find this inspiring:

14 Big Businesses That Started in a Recession - Inside CRM

It's a list of some major corporations, including GE, FedEX, HP and Microsoft that were started during bad economies. They all survived and became the giants we know today.

If life deals you lemons you make lemonade!

Good luck with your business, hope it's a real success.

Bill