Business, Culture and Entrepreneurship

Sunday, November 16, 2008

The right time to start a business is NOW

The last two weeks, I have been working the phones trying to rustle up interest in our new startup's newsletter creation services. The sentiment out there, particularly in the Valley, is just horrendous. Folks have just battened down, not just with expenses. Nearly everyone I spoke with is trying to keep a low profile in an attempt to survive the tsunami of pink slips they perceive coming.

My own feeling is that this is probably the best time to do a startup - that thought led to another - that the best time to do a startup is always NOW! Hence my latest article in the Hindu Business Line.

"Timing the market” is a phrase I have come to dislike immensely. Much like telling a na├»ve friend how to do well in the stock market — “Simple, buy low and sell high” — there is a school of thought that timing is important in business. I’d be foolhardy to assert that timing doesn’t have a role to play, especially in these times of daily dire financial news and poor sentiment, but it is not nearly as important as you’d th ink at first. For entrepreneurs, especially those considering or just embarking on a business venture, the right timing is always NOW!

“As soon as I get enough experience, I will start my own business,” is a common refrain of many prospective, usually young, entrepreneurs. “I need to understand how the value chain in retail works,” or “I will work in a small/large firm to learn this, that or the other,” are all reasons that I hear soon-to-be entrepreneurs give to put off getting started. I would assert that there is never going to be a better time to start your business than now, particularly with the current financial troubles that are roiling global markets and making everyone in business antsy. Even if it gets worse before it gets better, a downturn such as this is the best time to start a business.
Read the full article here.