It's a sad fact that pretty much everybody knows people who have lost their jobs in this recession. It seems like the question to avoid at parties is, “How’s work?”But for the wise, the rescession has benefits and can turn into opportunity. An article in USA Today states that a recession is a great time to start a business. Trader Joe's, Disney and Hewlett-Packard all started during recessions.
But it isn't just big companies arising in troubled times. Many mompreneurs view the recession as an opportunity to launch their businesses. Starting a business at any time is hard work. But these economic times create a fierce desire for success. Many moms are rethinking their careers after being let go or thinking about what career move works best for their families, and more than a few are choosing to chase their dreams rather than be at the mercy of an employer.
If you're considering taking advantage of these economic times and becoming an entrepreneur, stay focused with these steps:
• Create your vision for your business.
• Create your business plan. Make sure there's a need and that you can fill it and make money.
• Create a budget and make sure you can afford to launch your company. The company will require a financial investment, and you'll have to learn to live without steady income.
• Create an action plan and go for it. Don't be another person with an idea that never comes to pass.
• Know your limits. Knowing that you need help getting your business off the ground is better than pretending you don’t. Business consultants or franchises would be a good place for help.
Remember, challenging times for some mean opportunities for others. Change your mind-set and push your fear aside. In today's market, you can find amazing deals on retail space, amazing women looking for employment and a society that wants to believe in something. Ask yourself how you can create opportunity where others see none.
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