Best or worst time to start a new business?

**rogercbryan** · 09-15-2008 01:35 PM

Best or worst time to start a new business?

So the sky is falling right? Everyone is loosing their jobs.. banks are closing.. the stock market (some parts) is tanking... commodities are falling rapidly.. So I guess its time to close up shop and move into a cave... right?

Well, I'm seeing more opportunity then I ever have before. In the next four months I have three new companies launching. Two of which are what appear to be cash cows. I can hire top notch people for 25% less then I could a year ago. I can get warehouse space for a fraction of what it used to cost and with more reasonable lease terms.

What are you all seeing. I know I have a few clients that are finding it extremely hard to get start-up capital. This is a constant problem for many. What I would like to hear is other problems... or opportunities you are finding out there.

I want to agree with the news that it's bad out there... I really do.. but I'm doing better then ever. My sales are up 200% from last year... my personal income is up 40%.... what seems to be the big problem?

**BiGWiLL** · 09-15-2008 02:35 PM

It must be because your business booms when everyone else is dead broke. Your in the car business, and im sure you dont sell cars cause no seems to be buying any. SO I guess you repo them or something similar because no one one can afford them and pay for their vehicle right now.

**rogercbryan** · 09-15-2008 03:12 PM

Originally Posted by BiGWiLL

It must be because your business booms when everyone else is dead broke. Your in the car business, and im sure you dont sell cars cause no seems to be buying any. SO I guess you repo them or something similar because no one one can afford them and pay for their vehicle right now.

I'm in the consulting business... some of my clients are in the auto auction business. Their businesses are suffering a bit now. With that being said you would figure in a down economy my fund raising business would be down too. What I'm finding is that a lot of non-profits are struggling so bad that they are willing to outsource valuable programs because they can no longer afford to do them on their own.

**bthompson6472** · 09-22-2008 08:54 PM

I've also heard that now might be the best time for entrepreneurs to start up a new business. I'm glad to hear it's working for someone!

**VIG_Ruddell** · 09-22-2008 11:09 PM

Real Estate Opportunity are through the roof. Now is the best time to make money is real estate. The best in years and the best is still to come at the end of the years, banks have to get there foreclosed properties off the books. They will sell for pennies on the dollar. Well, .40 - .60 on the dollar. I absolutely love the real estate market right now.

"There is a recession happening, but I choose not to participate."

**cybergift** · 09-22-2008 11:37 PM

The Big problem is: not everybody can do something like what you do. That is why you can hire top notch people for 25% less now. What would happen if everybody can be as successful as you?

Maybe only 5% or less who would achieve success.

But I think that is the beauty of life.

**Colorado Ron** · 09-23-2008 09:48 AM

Also remember that the first people to go in any company are the least productive. So you still need to be careful, colorful resumes still doesnt prove the person is worth jack.

**rogercbryan** · 09-23-2008 09:58 AM

Originally Posted by Colorado Ron

Also remember that the first people to go in any company are the least productive. So you still need to be careful, colorful resumes still doesnt prove the person is worth jack.

This makes no sense and lacks any foundation of reality. No one hires people based off their resume.. you are missing 90% of the picture.

**Colorado Ron** · 09-23-2008 03:51 PM

How does it lack foundation? If you had to cut your staff by 50%, how would you do it? You let your best guys go, or worst?

You are talking about hiring people and taking advantage of the recent lay offs. Im just saying that people need to remember that just because they were laid off, and resume looks good, doesnt mean they should get an easy green light.

**rogercbryan** · 09-23-2008 04:09 PM

Originally Posted by Colorado Ron

How does it lack foundation? If you had to cut your staff by 50%, how would you do it? You let your best guys go, or worst?

You are talking about hiring people and taking advantage of the recent lay offs. Im just saying that people need to remember that just because they were laid off, and resume looks good, doesnt mean they should get an easy green light.

Hmmm... I see what you are saying.. but I can also tell you don't understand the economy today. Firms are going under so everyone is loosing their jobs. Firms are not hiring so top notch college grads can't find the entry level jobs they could two years ago. Many people are being let go because of seniority (costs) and are some of the best people available.

You are basing your statement on misguided fundamentals. Firms don't just cut the bottom end... you are missing the big picture.

**Colorado Ron** · 09-23-2008 04:29 PM

Really? Are you sure? Hmmm. I must be confused. You sound like you know what your talking about I guess. My 5 Corporations and all my supervisors must not have a clue. I guess Ill take them your info so I can straighten them out.

**Colorado Ron** · 09-23-2008 04:35 PM

Oh and before you post up acting as if you know how the business world works, remember the famous quote by Napoleon Hill...

"I can always learn something from the person whos done more than I".

With the WWW, you never know who that person may be, so you should be a little more polite in your responses.

PS--thanks for helping me break my 10 posts!

**mbrand2222** · 09-23-2008 04:53 PM

I see both sides. I think the point is, no matter when you are hiring, you really need to make sure you're getting the cream of the crop by doing your research. It sounds like that's what Roger is doing. There are bums out there that got laid off first, but there are also potentially great employees that just got on the wrong ship and are now having to find a life-preserver (so to speak). The current economy is going to be good for people who are in businesses that deal with fixing the problems that our top executives have gotten us into. That ranges from fixing credit scores to buying up foreclosed real estate. You just have to know where to be and hope you've saved enough money to get you there. Diversify, diversify, diversify!

**rogercbryan** · 09-23-2008 11:00 PM

Post removed... I'm trying to play nice with others...

**rogercbryan** · 09-24-2008 03:12 AM

The reality is that things in the US have gotten a lot worse since I started this thread. I also need to note that not everything has gone my way. I bought a condo at the beginning of the year which has already lost 10% of its value. I've had my first M&A deal fall apart (or at least get delayed to 2009) because the buyer has frozen every deal they were working on until this banking mess gets figured out. This would have been one of my highest single sale commissions I ever had.

I guess I failed to make a point in my original post. There are still good times to be had even in this horrible economy. I look at it like this. If you can start and successfully run a business during these times then you will be in a great position to capitalize on a good economy.

These are very unique times for everyone. While many of the basic business principals are the same there are also a lot changes that you have to make to survive. I'm seeing a lot of small to mid-size businesses who are keeping more money in the bank then they ever had before. This means many owners are getting by with less. In their attempt to hedge against all this uncertainty businesses are learning to run leaner which is a good thing.

The situation is different for everyone. This post is meant to motivate young YE's by showing that even though it seems like the entire world is falling apart economically that you still can start and profit from a business. You just have to be willing to work a little harder and lot smarter then you would have two years ago (when I started my company).