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    7 Replies Latest reply on Jun 11, 2010 1:02 AM by Bizwiz

    Start a new business in this economy?

    junjam Newbie
      Hi everyone I would like to know if this is a good time to start a new business. Should I wait for the economy to pick up? or just go ahead and do it now?
        • Re: start a new business in this economy
          JohnW11 Newbie
          Hi

          In truth many businesses start up in a recession out of necessity, i.e. the person concerned is made redundant and thinks that this is the only way forward. Unfortunately many of these businesses fail, not because of the recession, but simply because of bad planning, poor marketing, no sales skills, etc.

          It is because of these problems that my company has decided to provide a comprehensive range of free training materials aimed at the small business owner, particularly the new start up. This free training includes new business planning, marketing, time management, sales skills, etc, and is all available for free at http://www.businesslearningdirect.com .

          In business, most people don't plan to fail, they fail to plan - and we hope we can help get over this problem.

          In answer to your original question, I don't believe there is a good or bad time to start a new business, only a good or bad way to start ! !

          Good luck

          John
          1 of 1 people found this helpful
          • Re: start a new business in this economy
            Tracker

            Junjam:

             


            You ask a question that many people who want to start a business are asking. I wrote a piece on this on my blog about a year ago and the key points still apply. The post is titled, "Should I start a Business in a Recession". Here's the link to the post:

             


            http://thesologuide.com/790/should-i-start-a-business-in-a-recession/

             


            I hope this helps. Please let me know if you have any questions after reading it.

             


            All the Best,

             


            Doug Dolan

             

            The Solopreneur's Guide

             

            http://thesologuide.com/
              • Re: start a new business in this economy
                profitablebiz Newbie
                As it was said in previous comment, there is no good or bad time to start a biz. Most failed due to lack of plan, commitment, determination and fortuitude. Often people give up after hard work, and just before to reach success, when most of their effort will pay.

                Other point is that many incredibly successful biz and wealthy people started their biz during recession. There are many great example.
                If you look for oportunities of online biz, the reason to start are numerous. Bcs of the recession, people are looking for solutions on internet, and people offering these legitimate powerful solution will make a lot of business profit.
                If you have service or product to offer, or if U are really dedicated to success in you own biz, let it go and start it! Ur commitment, dedication and focus will work for you. last advice, do not start alone and do not try to re-invent the wheel. Use existing system that will provide you the training, support and model to start a profitable biz without having to deal with all technical aspects or knowledge at the beginning.
                I am glad I made the choice to escape last year from corporate world to start my home based biz!

                Hope this help

                Lelia
                http://NewMarketing4Dummies.com
                http://LeliaRaynal4YourSuccess.com
              • Re: Start a new business in this economy?
                Grey237 Newbie
                It is very much of business relevance, to the economy and also how in tune the business concept is towards the Government's policy. One example would be the oil spill incident. There is business opportunity in that area, however, what is more pressing at solving the issue is more important.
                • Re: Start a new business in this economy?
                  Bizwiz Wayfarer
                  The fact is many a millionaire started businesses in economic climates similar to todays ecomomy. The process of starting up a business stimulates the economy and can give it the boost to turn it about and into a more favorable situation. That said consider starting a business from your home with low overhead first. Grow your business and in time consider expansion. For more information about low overhead startups go to...

                  http://businessplans.fimark.net/