It is often in the midst of economic turmoil that enormous fortunes are lost. Today’s recession is certainly no different. As credit tightens, and consumer confidence wanes, many of the mighty titans of Wall Street are left waiting around for their “stimulus package” to come riding in on a white stallion to save their ailing balance sheets. However, as we have seen with the previous installments of stimuli, throwing bad money at bad businesses with bad management will not produce good results. Those businesses that don’t adjust fast enough to a changing economy will surely fail. It is a simple free market principle, and today we are all witnesses of that fact.
However, at the same time that fortunes are being lost by some, great wealth is also being amassed by others. Those who possess the entrepreneurial spirit are finding unique niches within the marketplace and are positioning themselves to profit from the present economic conditions. These individuals continue to succeed because they are always looking forward, staying adaptable, and rising to meet the challenges of a changing economy. They focus on creating new customers, while searching for new opportunities to meet the needs of their current customers, and for this effort they are being handsomely rewarded.
I guess you might call me a bit of a contrarian, but I truly believe that now is one of the best times to be an entrepreneur, and for many of the same reasons it’s a great time to buy real estate. It may sound a little counterintuitive, if not absolutely insane, to start a business in the middle of one of the worst recessions in decades. However, if you look back at the history of business in the United States, some of our greatest success stories were either started, or substantially grew, during seasons of economic contraction.
From General Electric’s start in the panic of 1873 to Microsoft’s humble beginnings during the recession of 1975 (and many in between), some of the world’s largest and most profitable companies were started when most people would have never considered beginning a new venture. But then again, Thomas Edison and Bill Gates were not “most people” and neither should you be.
Over the next few weeks, I will be analyzing some of the most successful recession start-ups of the past 150 years, and sharing with you some powerful business lessons. My hope and prayer is that these stories will inspire you to reach higher, and to believe God to bless you even in the midst of famine, as he did for Isaac in Genesis 26. Now is not the time for you to take your business aspirations and put them up on a shelf for a “better time”. This in fact may be the perfect time for you to tap into your God-given potential and watch Him come along side of you to help bring to fruition your entrepreneurial dreams.
However, at the same time that fortunes are being lost by some, great wealth is also being amassed by others. Those who possess the entrepreneurial spirit are finding unique niches within the marketplace and are positioning themselves to profit from the present economic conditions. These individuals continue to succeed because they are always looking forward, staying adaptable, and rising to meet the challenges of a changing economy. They focus on creating new customers, while searching for new opportunities to meet the needs of their current customers, and for this effort they are being handsomely rewarded.
I guess you might call me a bit of a contrarian, but I truly believe that now is one of the best times to be an entrepreneur, and for many of the same reasons it’s a great time to buy real estate. It may sound a little counterintuitive, if not absolutely insane, to start a business in the middle of one of the worst recessions in decades. However, if you look back at the history of business in the United States, some of our greatest success stories were either started, or substantially grew, during seasons of economic contraction.
From General Electric’s start in the panic of 1873 to Microsoft’s humble beginnings during the recession of 1975 (and many in between), some of the world’s largest and most profitable companies were started when most people would have never considered beginning a new venture. But then again, Thomas Edison and Bill Gates were not “most people” and neither should you be.
Over the next few weeks, I will be analyzing some of the most successful recession start-ups of the past 150 years, and sharing with you some powerful business lessons. My hope and prayer is that these stories will inspire you to reach higher, and to believe God to bless you even in the midst of famine, as he did for Isaac in Genesis 26. Now is not the time for you to take your business aspirations and put them up on a shelf for a “better time”. This in fact may be the perfect time for you to tap into your God-given potential and watch Him come along side of you to help bring to fruition your entrepreneurial dreams.
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