Launching during the recession.

Discussion in 'Starting a Business' started by Jerlene, Feb 19, 2012.

  1. Jerlene

    Jerlene
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    Have you launched a business, online or offline, during the hard times in the economy? I know of a few that did but they didn't last long. If you did, how has it been? Difficult?
     
  2. sigma

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    Yes, i do both online and offline business since years ago after i quit my job. I will say nothing is easy, always keep in mind that provide the best product and the best price to your customer. This is the way i run the business, i prefer volume than big margin in single unit
     
  3. Jerlene

    Jerlene
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    I understand that it's not easy to run a business, but what was it like opening a business during the recession? Why didn't the recession stop you from opening it? Quitting your job during the recession is very risky. Did you ever regret it? Were you ever close to shutting the doors because of the economy?
     
  4. sigma

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    Like people say risky is the chance. There are still a money flow during the recession, and you gotta know when the money flow.
    The product can simply break to three category, luxury product (mean those brand product like LV, sport car etc), lousy product (very cheap product) and necessary product (like sugar, salt etc). During the recession, you can found that the luxury product sales in market have huge drop, the lousy product is increase and the necessary product dont have significant change.
    Found the right business is the way to make you good money but the condition is that you need to have some fund and work on it
     
  5. Mark T

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    Challenging. To launch a business during the recession is like a business suicide and a big risk for your investments. There comes an increased trial and error stages for your business but if you are really willing to take the risk and have enough resources during a famine in business then you can survive - depending too on how you make decisions and how you run your business under recession periods.
     
  6. Krisz Rokk

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    If you lack financial education everything is risky! Many things in our lives are challenging and so is opening a business during recession. The best way to get where you want is to ask somebody who has already arrived where you want to go. So great question cause you're asking exactly this same thing.
    When I was passionate about a business and had the necessary skills, success was a daily thing. As soon as I did something (job) I wasn't interested in, things went the other way. It has a lot to do with the mindset and the blueprint each of us have. The positive thing though is that we can change our blueprint anytime and improve our financial mindset at the same time.
     
  7. amac

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    Some very famous businesses launched during recessionary periods - from the top of my head the one I always remember is Microsoft.

    There are drawbacks - notable with financing as banks and other sources of capital become less willing to lend. But as with Microsoft, if you can fund your business through cashflow, you can avoid this and take advantage of the market where others might not be as lucky.
     
  8. Sahil

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    There maybe problems to launch and survive in the market if business is launched during recession. But here the key factor is to keep a business surviving healthy in any condition. It is also observed that a great business is slacked in recession due to non-responsible decisions and lack of ability. In sort market conditions do affect the business but if the foundation of business is solid and the decision makers are wise enough then the external factors will affect to its minimum.
     
  9. rjd1265

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    my online business has never been better. I increased by over 48% since 2010...
     
  10. AshleyWhiteBusin

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    It is okay to launch business even if it is recession. Remember, people are always open to opportunities specially at times like this.
     
  11. sigma

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    Depends on how good you are and what is the business you are running. Recession is a chance if only you have money on hand. One of my friend who works as employee before the recession, and he quit his job during the recession because company cut off the allowance. He use the money to buy some property and rent to people, after 2 years, the economy getting better and then he sell out the property, he earn millions within 2 years
     
  12. DeniseTaylor

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    A lot of people are turning to online business these days. It's a low cost, low risk business model, for the most part.

    I wouldn't say that everyone is enjoying overwhelming success, however. There is more to it than just putting up a site or blog and expecting the traffic to roll in or the money to roll in.

    These days, it's getting easier and easier to get started with little or no knowledge as site builders get smarter. (Check out our new site builder, for example: http://www.youtube.com/watch?v=qrY0...xt=C30d5587FDOEgsToPDskJ92h5t9dXT1BygHsuhPeex )

    But, to get traffic and conversions, that's a trick. I recommend hooking up with a service/product that provides you with hands on training, and provides you with training and support. Otherwise, it could be a hard road of trial and error (and expense)!

    Things are not getting any LESS competitive on the Net. That's for sure! :D
     
  13. Business Attorney

    Business Attorney
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    According to the National Bureau of Economic Research, the most recent recession began in December of 2007. That means I launched my business (a new law firm) about three months into the recession. During the four years since, I have seen dozens of clients launch new businesses. Same have thrived, some have withered and some have just survived. There are plenty of opportunities during a recession. They are just different than during good times.
     
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