While it might look like a tough time for the national and global economy I believe that we are encountering the perfect storm for entrepreneurship.
I recently read a poll which I wholeheartedly agree with. Americans were asked, “Who will lead us to a better future?“ 63% believe it will be small businesses and entrepreneurs compared to only 21% for large corporations.
I’m certainly not surprised by the outcome of this poll as I’ve been working with entrepreneurial small business owners for 10 years with Cash Flow Specialists, Inc., and 22 years previously when I owned an insurance agency and brokerage.
Small business provides more than 60% of new net jobs in America. We – small business owners, entrepreneurs, and their advisors – are the backbone of the American Economy, and we have a duty, to our Companies, our Clients, and the Greater Economy , to strive for success and do all we can to make sure that the American Dreams are reachable goals for whomever strives towards them.
I believe that 20 to 30 years from now historians will record and call this the greatest window of entrepreneurial opportunity of our lifetime. It is over the next 12 to 18 months that the successful companies of tomorrow will be created or make their move.
Did you know that 16 of the current Dow Jones Industrial Average stocks were born during either a recession or depression? It’s true; Procter & Gamble, Disney, McDonald’s, General Electric, Johnson & Johnson and others – once entrepreneurial startups, now giants in industry.
Now is the right time for you to build your business.
Every so often our system of capitalism shifts. The present financial crisis and economic downturn have shaken the status quo. I prosperous times it’s difficult for a small business to compete with big business. But now the playing field has been leveled: everything is up for grabs. You can become one of the future kings of commerce.
The economic downturn has created a whole bunch of problems that savvy entrepreneurs can step up and solve. Solving problems are the lifeblood of entrepreneurism. Those who create solutions to these new problems will become the great beneficiaries of the next decade.
Everything is on sale. It has never been cheaper to build, equip, and market your business than it is today. Vendors are flexible, opportunities are unlimited, and there is a pool of extremely talented people looking for a promising future. Your companies big ideas may be fueled by this unprecedented opportunity.
Challenges and obstacles force us to think outside the box and come up with creative solutions, services, and products. 40 years ago Joe Gandolfo wrote a book, “Ideas are a dime a dozen.” The challenge is to follow thru and implement a great idea.
Now is the time to get started.