Bad economic times are the best time to start a business

11 replies
With the stock market dropping over 2% today and almost at a low for the year, economists are starting to say we have entered into recession again (though I know we never came back out for some). It is the down times that can produce the strongest people, and often when powerful businesses are born. Because people have gone out of businesses, there are an increasing number of "holes" in the fabric that can be exploited, and as we come out of recession, some new players will start to emerge. You can be one of them


If by Rudyard Kipling

If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or, being lied about, don't deal in lies,
Or, being hated, don't give way to hating,
And yet don't look too good, nor talk too wise;

If you can dream - and not make dreams your master;
If you can think - and not make thoughts your aim;
If you can meet with triumph and disaster
And treat those two imposters just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to broken,
And stoop and build 'em up with wornout tools;

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breath a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on";

If you can talk with crowds and keep your virtue,
Or walk with kings - nor lose the common touch;
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds' worth of distance run -
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man my son!
This was written in during the bad economic times that preceeded World War I. Just think how many people read this and went on to do something amazing. You can too!

(And the only thing that I don't like about this poem is it is written in the masculine, so wanted emphasize to the ladies that there is plenty of "if" for them too!)
#bad #business #economic #start #time #times
  • Profile picture of the author WebPen
    One thing I'd like to point out-

    the OP said that now is a good time to build a business.

    -Not make money online
    -Not find a new hobby of dabbling in article marketing
    -Not buying 10 WSOs a week to learn the next hot method

    I think most of us (me included) sometimes get caught up in the make money online idea, instead of building a real business that is self-sustaining and profitable
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    • Profile picture of the author myob
      There are products that always do well despite the economy. Checkout some of the best sellers at Amazon, look at google trends, ads, etc. Some products are booming such as alternative energy, electronics, health, investments, etc. People made fortunes coming out of all the previous recessions, and there will be more fortunes in the works for those who see the opportunities now.
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  • Profile picture of the author Michael Franklin
    2 direct applications for these pre-recessionary times:

    1) Businesses are very hungry for new business so definitely learn all you can about offline marketing and help businesses capture customers and sales...So many businesses are good to go after right now!

    2) People are really scaling back on their spending which means they're looking for deals on the products they buy. Learn all you can about marketing physical products online....Whether it is an Amazon affiliatesite or your own dropshipping site. People want a good deal so market to them!
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    • Profile picture of the author The Wizard of Oz
      (And the only thing that I don't like about this poem is it is written in the masculine, so wanted emphasize to the ladies that there is plenty of "if" for them too!)

      Maybe Rudyard was in Iran at the time - where women don't count. (lol)

      However, Great & inspiring post. I've been meaning to put a copy of that on my wall for a while - now I will ... Isn't copy'n'paste great. Thanx for the post.
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  • Profile picture of the author ContentMachine
    I agree! I believe during any economy whether bad or good. If you have strong business model and provide a top notch service with great customer service, you will always be successful.

    Nowadays, you cannot depend on corporations to provide you with a future, benefits, and income. To most of these companies you are just a number, and they have to make their shareholders happy foremost.

    Working for yourself, no matter how fast you see success or not, you know exactly what you are striving for, and have no one to answer to but yourself.

    I wish everyone nothing but the best!
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    • Profile picture of the author celente
      ok i am giong to let you in a big secret.

      I use to be be a full time trader on the futures floor. But I make more money in my online and offline biz now.

      There have been people made millionaires and billionaires in bad economies. WHY? there is still supply and demand it just shifts.

      There are going to be more billionaires made as the US loses its economic power and it shifts. I am in niches that always do well in these times. So you should do the same. Instead of people whining about it, do research back in the last recession or great depression that we had and see what businesses that did well...and go there. Sell that stuff. WIN WIN situation really!
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      • Profile picture of the author SwiftBlog
        Great post OP, as the economy gets worse it will definitely open up new areas in business that can be exploited and we can almost guarantee conglomerates will be built in this recession.
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      • Profile picture of the author Jaymark
        Originally Posted by celente View Post

        ok i am giong to let you in a big secret.

        I use to be be a full time trader on the futures floor. But I make more money in my online and offline biz now.

        There have been people made millionaires and billionaires in bad economies. WHY? there is still supply and demand it just shifts.

        There are going to be more billionaires made as the US loses its economic power and it shifts. I am in niches that always do well in these times. So you should do the same. Instead of people whining about it, do research back in the last recession or great depression that we had and see what businesses that did well...and go there. Sell that stuff. WIN WIN situation really!
        I agree. I think history has shown that bad economic times have represented significant opportunities. The Great Depression created a significant number of millionaires. Why? Because necessity is the mother of invention. Instead of depending on a salaried job, people got creative and found other new and novel ways of making money. Some of the largest corporations got their start during the Depression.

        The Internet allows the average person to provide products or services to the world for a low barrier to entry. The key is to treat it as a business and take it seriously. Don't just focus on Making Money Online opportunities. Most people tend to work on this because they think this is the way to go. The solution is tried and true - Find out what people need and want and then provide it. Ideally it is something which has minimal competition.

        Anyway the Internet has wonderful resources to help people to find ways to effectively market through the Internet. This resource is outstanding and can most likely provide you with all the information you'll ever need. And best of all, for the most part it's free.

        So my advice is to get started and get to work. The opportunity is there and it's available to everyone. Make the best use of it. Good luck!
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  • Profile picture of the author Fazal Mayar
    I agree, it reminds me of these bright young kids that are younger then 22 and havent went to college but make 3000-5000 montlhy income online. They refer to the debts of students and the usa residents, it makes me think that these kids are unbelievably smart and have made profits from bad economic times too.
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  • Profile picture of the author stephfoster
    That's an important point to remember. You can't give up on your business goals just because times are tough for you or for others. The only way you're going to build a solid business is to work on it no matter what.
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  • Profile picture of the author MichaelHiles
    Despite the fear of and efforts to eliminate "recessions" by the wonderful elected folks who only care about getting re-elected... a downturn in an economy is necessary to take "stupid money" off the table. An economic downturn is when business is forced to get rid of waste, improve their operations to create a higher profit, and become more adept at marketing services and products. Those who can't do that will stop operating. It forces ingenuity.
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