How are you positioning yourself for the tough times ahead?

With the Financial Economy in tatters, it’s only a matter of time before the Real Economy is impacted. Wall Street BS always ends up affecting Main Street. This to say that profits are always privatized while losses are socialized. That’s just the way it is. Consequently, one must take matters into one’s own hands.
With the way things are trending I thought I’d turn to the IH community to see how , as entrepreneurs, they are prepping for the difficult times (ie recession) ahead

Do you have it in you?

Entrepreneurs are born in the throes of Economic Recession. There has never been a better time to become one. Why?
Well, while necessity may be the mother of invention, desperation stands as the father of innovation.

As counterintuitive and as contrarian it may seem and feel, the best time to start a business is during the depth of an economic recession. Some of the best companies in the world were conceived during very difficult economic times. Some even went on to grace the ultra exclusive Club of $TRILLION market cap. Google, Amazon and even Facebook to a certain extent come to mine. The opportunities are endless. Nearly every sector of the economy needs improvement. Why not be the one to improve it and cash in at the same time. The Odds are in your favor.

Cheap labor.
With unemployment at all time high around the world, the labor pool has suddenly expended and the supply of job seekers outweighs the demand for workers. So going concerns (companies) can pickup highly skilled, sophisticated labor on the cheap. The tables have turned. It is now an employer’s market. Return the favor by turning into an employer. Even an employer of just one-yourself for now.

Business challenges
While launching a business is never for the faint of hearts, it has never been easier to get the help needed to find your North Star. There is an overwhelming range of possibilities and decisions to make and each one of them can trip you up. However, you hardly have to do it alone.

Help is available
There is plenty of help available and most of it gives you everything and cost you virtually nothing if you know where to look.
There is an app for just about everything. From project management to designing and building a unified brand to upping your social media influence, the modern day entrepreneur toolkit sets you up for success. The rest is up to you.

Let your ingenuity take over and allow your imagination to run wild. Never afraid to fail.