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12-12-2007, 08:44 PM
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#1 (permalink)
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Junior Member
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Does the economy impact your business plan?
The size of the fall out concerns everyone, and Morgan Stanley just issued a recession warning.
I'm more than a little worried what 2008 will bring, anyone else see this impacting their startup? |
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12-26-2007, 03:24 PM
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#2 (permalink)
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Junior Member
Location: Originally from Boston area, now live in Latin America
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I think it depends a lot on what market you're in. Is your product cyclical or something that has consistent demand through recessions?
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12-26-2007, 03:27 PM
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#3 (permalink)
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Junior Member
Location: Originally from Boston area, now live in Latin America
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Luxury goods, for example, usually do not sell as well when the market is down...
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12-26-2007, 03:30 PM
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#4 (permalink)
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YE Veteran
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This economy is hurting my two year old business. We work primarily in the vehicle donation industry. Industry wide we have seen a 20% decrease in donations in the 4th quarter.
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12-27-2007, 02:14 PM
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#5 (permalink)
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Member
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I don't see the recession hurting my business. Telecommunications is an ultimate consumable so I'll be fine. If you're looking for a way to save money for your business this upcoming year, visit my website at www.yor.com and then call me at 201.399.5716 and mention that we met on YoungEntrereneur and I'll hook you up!
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VernieOnAMission
"Champions are not made in the ring, they are just recognized there."
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12-27-2007, 02:32 PM
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#6 (permalink)
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Location: ADVERTISE HERE! Contact me for more details
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We publish high-quality, niche books, so I suppose we fall into the luxury goods quality. However, I think that the key to success through these economic conditions, if you are not providing staple goods and servies, is having a niche.
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12-27-2007, 04:39 PM
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#7 (permalink)
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YE Veteran
Location: Tennessee/Florida
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Much of my business is on the international level, so I have learned to make the most of any economic changes. If there is a recession here, then there is a boom somewhere else. These days, diversification is the name of the game!
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12-27-2007, 05:13 PM
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#8 (permalink)
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Location: ADVERTISE HERE! Contact me for more details
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Quote:
Originally Posted by paul2145r
Much of my business is on the international level, so I have learned to make the most of any economic changes. If there is a recession here, then there is a boom somewhere else. These days, diversification is the name of the game!
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You got it! This is quite obvious in the stock market. When ours is down, more profitable options are overseas.
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ADVERTISE HERE!
Contact me for more details
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12-27-2007, 07:10 PM
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#9 (permalink)
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Junior Member
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Gotta Stay Somewhere
I agree with previous posts, depends on your market.
As for my Market.... Houston Real Estate is still going strong...
People will always need a place to live. I'll need to adjust my customer profile somewhat due to dimished financing for sub-prime borrowers. |
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