Forums: Discussions for entrepreneurs and small business.

Hey there, Scuba.... :-)

I wouldn`t say this is a "really good time" to start a business. But I`d surely argue that now is "a" good time to start a business.

It`s getting harder these days, meaning not as easy as it was 2 years ago. And likely it`ll get even harder. But that doesn`t mean it`s not worth it.

The key question and polarizing issue is whether or not there are fundamental and philosophic changes taking place in society. Half the population says no, the other says yes.

Another key issue is whether or not the entire corporate model is having a bad moment, or is it starting to crumble entirely.

There are two basic ways to go through life: living by fear or by hopeful expectation. In practical life we have punishment systems, or reward systems and they apply to the two styles of life.

Based on your analysis that the company you work for uses fear and punishment, not merit and reward, I`d argue that the company likely will go out of business soon. At that point, your question will be moot.

Then you`ll have no job, at which point you`ll have nothing to lose and can either start something on your own, or try to find a job. In today`s difficult job environment.

One MAJOR advantage you have is that a great deal of e-commerce involves selling products of some kind. As a retail manager, you have a terrific background in understanding the many aspects of sales.

Oh, God, retail manager? I`m so sorry! I was a retail manager myself for a few years, so I definitely empathize...and 35 years is certainly pretty tough!

For funding a business...you`re not going to like my answer, but I am a big proponent of using money from an existing job to fund a startup. I`m a fan of this idea because the idea of forking over a percentage of the profits to the likes of a VC just doesn`t jive well with me.

Partner selection can be kind of tricky, as it has to be someone you trust and think highly of, but not a close friend where the friendship would end if the business ends. Since you have the management experience, if you know anyone willing to enter into a partnership with you (not literally a General Partnership), where they provide the capital and you manage, that might be something to consider. Other than that, any family members willing to lend you seed money?

As for an idea, thats completely up to you and your tastes. What are some of your interests? What type of business interests you the most (online, brick-and-mortar)?

I haven`t tried it out, but this site claims to be a good source for business ideas, check it out here. Entrepreneur.com might also be a good idea to check out for ideas and start-up tips.

As always, happiness comes first, but be careful, in this environment you probably wouldn`t want to outright leave your job until your new business is a little more established.

Good luck!



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Motivation for Entrepreneurs
Entre-Propel.com

Great story, Biziness! People need to understand just how many entrepreneurs have gone through the same thing, being utterly broke, totally depressed, and generally annoyed with the prospect of imminent homelessness.

Desperation often is a great motivator. It`s a trick-bag that it also saps our energy and leads to apathy if we`re not careful. :-)

I had to ask this question, myself. I got both answers. It`s a great time. It`s a horrible time. Banks need you more because good loans are how they make money. Banks are reluctant to give any loans at all. Both were half true. People aren`t spending money on luxury goods. People are still spending money on coffee. Companies are going out of business left and right - even Starbucks is trimming down. That means one won`t open right next door to me. This is probably one of the less expensive times to start a business. Its one of the harder times to get money. These are things people were telling me. I think it is a good time. Everyone else is closing shop. Get in when the pickings are good. You`ll have more locations available, landlords eager to fill the vacancy, less competition - if your idea is worthy, banks need you more than ever. 

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Making limitless possibilities much more limited.

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Thank you,   
Nelson
Accessmount LLC
www.accessmount.com   
Easy maintenance, "Ladderless" Light Fixtures

I am in the Elevator Pitch Contest! Please vote for me

Hi guys,
Hello everyone this is NYK from Canada, Recessions are usually a good time to get them started; resources are inexpensive and available, and once the economy turns around, it can slingshot you into success.Thanks
NYK

Drug Intervention Maryland

Hey Scuba,

The current economic downturn presents great opportunities...especially for entrepreneurs and small businesses who identify the right niche and understand that business success is in direct proportion to the value brought to market.

People buy solutions to problems - and recession provides a wide range of problems that need solving.

Dell recognised this and was one of the success stories that came out of the recession in the early 80s: http://www.youtube.com/watch?v=K1r2ohZu6Yk

Here are some more businesses born out of recessions

It`s possible that history might one day record now as being the best time ever to build a successful business -- until the next time that is.

But the important caveat is that this won`t hold true for everyone. So be careful. Because for every success story that comes out of this recession, a larger number will lose everything. Especially since there are so many variables that impact success in business.

So before you make a descion, take some time to consider the valuable information in all the previous posts.

And if after that you feel you`re ready to join us in "throwing the dice of life", you might want to change your original question  from "is this really a good time to start a business?" to “What would be the best type of business to start right now.”

"Every adversity carries with it the seed of an equal or greater benefit.” – Napoleon Hill

I think anytime is a good time to start a business. Yes getting funding will be considerably more difficult now, but especially if you are able to come up with a business model that takes advantage of the weak economy, than now is the perfect time.