Inflation and Startups
July 20, 2008
The economy is in a terrible situation. The dollar is down, inflation is up, home values are down and the credit market is tight. Sort of the perfect storm. The biggest problem is uncertainty. No one knows what is going to happen. You might think it is a bad time to strike out on your own and start a business. I would disagree. This is the perfect time to start:
- New technologies make it VERY inexpensive to start.
- The job security you think you have is a myth (you are about to get fired).
- Sitting on your cash is a mistake, invest it in a business (i.e. inflation will erode its value and real estate seems like a bad bet right now).
- Uncertainty will scare away competitors (i.e. who would start a business now? it is insane!).
My advice? Start thinking about starting a business NOW! Join us at the Dallas Startup Happy Hour tomorrow.
