Should you start a business during economic crisis?

A common sense would be no you shouldn’t. But there are arguments that you should if you consider the following factors:

  1. If you have a painkiller idea then go ahead. The idea must actually solve customer’s problems. It shouldn’t be just trying to sell something online. We need to stop thinking that life is easy.
  2. Starting with a blank slate could be advantageous. You wouldn’t have legacy system to worry about. You wouldn’t also have existing liabilities or commitment to fulfil.
  3. There will be less competitions in the market.
  4. It would be a good time to hire good quality staff because many of them were let go during the crisis.
  5. If you start small, you would’t need a lot of money to start with.
  6. And, you have to work with this mindset – “your job in the first year is to build something that 100 people love, rather than something that 10,000 people kind of like”

I still keep thinking. I don’t want to work for someone forever.

Apivut

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