2009 28/02

In a bad economy, why not start a business?

Tim and I are always dreaming and brainstorming about what our next move in life will be. And when I say move I mean a new venture or idea or plan. We are always looking for that next big thing, not necessarily to make millions but just the next big thing for us personally. That is how Hen House Properties was born — our renovation company. We just kept throwing around ideas and finally one day we decided to put some action behind those ideas. Despite some of the bumps along the way, we’ve really enjoyed starting-up and growing that business. It has, and continues to, treat us well!

But that was a few years ago. That was our economy apparently took a big dive downwards. Before so many businesses starting closing their doors. All of that seems pretty scary now. Everything you hear in the media says that starting a business would be so far beyond foolish now. I mean, a high percentage of small start-up businesses typically fail in the first few years, and that is in a good economy. How could any start-up business survive or even get running in this economy? Well, I guess we’ll find out!

Tim and I are taking another step forward. We’re putting action to an idea that we’ve been throwing around for a little while now. Well, it’s mostly Tim’s idea but I have thrown a little into it. Is it risky? Of course. Anything is risky in this economy. But we feel that it is risky not to go forward with it. If we don’t do it then maybe someone else will. And there we will be, kicking each other for not doing it first.

That’s about all I can tell you right now but, as soon as we really get rolling with this and are ready to market it, I will definitely be adding more info.

I really think that a bad economy is actually a great time to start-up a business, if there is a need for that business. For example, our area really does not need another coffee shop or American/Mexican restaurant. We have plenty and our area just really can’t support another one of those businesses. But, if the business is something our area could use, then it would be a great time to find pretty cheap office/warehouse space and people willing to work. The only thing (although I’m sure there are others) that I haven’t quite figured my way around would be getting a loan to start-up a business. The banks seem to be tightening down on handing out money, but there are always private investors!

So, what about you? Have you or are you starting up a new venture? How is this economy holding you back or catapulting you forward? I’d love to hear from you!

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