Home > Uncategorized > Why it is awesome to start a company when there’s a downturn

Why it is awesome to start a company when there’s a downturn

Totally cool advice for a lot of people wanting to start off on their own. No time like now!

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Over the last few days a slew of bad news on the economic front (falling currency, stock market tumbles) has had many entrepreneurs and folks in the press ask me if they should put off their entrepreneurial venture to a later year.

My own experience is summed up by an attitude I developed many years ago “Everywhere I go, I always take the weather with me”.

The best entrepreneurs dont care what happens around them. They are acutely aware, keenly observant, but largely undeterred and unconcerned – about the economy, macro conditions and price of fuel.

There are 3 great things about downturn.

1. There are far fewer companies starting, because the fence-sitters develop cold feet. So the “competition” is much less.

2. Since there are far fewer companies starting, the fight for both talent and funding is less so. I hired the best folks in 2001 and again in…

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