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Entrepreneurship in economic recession

Question asked by Kaustubh Katdare in #Coffee Room on Oct 6, 2009
Kaustubh Katdare
Kaustubh Katdare · Oct 6, 2009
CEO @ CrazyEngineers, TEDx Speaker, Guitarist
Read this post: Wisdom in hindsight: Entrepreneurship thrives in a recession

I especially liked this -

Logically any sane, rational person would prefer the security of a salaried job, during a downturn, to the uncertain world of entrepreneurship. After all during a downturn – competition has excess capacity so there is fierce price competition, customers buy less so there is soft demand, funding is very hard to come by and then if you do get it you get poor valuations, cash collection from clients becomes harder and so on. So it should be a bad idea to become an entrepreneur during a recession. The smart thing to do would be to hang on to your cushy, safe job.
The real world however is counter intuitive.
What are your views? Posted in: #Coffee Room
Member of CrazyEngineers
a very nice post.
some might consider sticking on to the safe, cushy job is the best to do during recession.
but as the article speaks recession might cause a chance for the company to grow.
i think it is not a bad idea to become an entrepreneur during recession. in fact if the person has the right attitude and passion for what he is doing he can turn an entrepreneur even during the worst recessions.
and of course as the article says "recessions do separate winners from losers".
cooltwins · Oct 7, 2009
Member of CrazyEngineers
a wonderful article indeed.
a must read for the wannabe entrepreneurs.
the small entrepreneurs must make full use of the situation.
so the point is to look for the right time and the right opportunity and rise to scaling peaks.

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