Son of Five Rivers Blog

For the advancement of Entrepreneurship, Sustainability & the Ecology of Everyday Life

3 Business Tips (RE: Recession, Fear & Intuition)

I’ve been supporting a friend start his business, The Green Element Building Services (www.TheGreenElement.ca) and these are the three things I’ve been trying to reinforce.
  1. The Recession is a great time to start a business.
    More millionaires were created during the Great Depression than at any other point in Canadian history. There’s opportunity that doesn’t exist in normal times and that can lead to higher rewards. Recessions have a very Darwinian process, the fittest companies survive while the weakest fall out. With less competition in the market, your company will have more room and time to grow.
  2. Fear is Healthy.
    Every entrepreneur has to have some dose of healthy fear to drive themselves forward. The trick is not to let fear cripple you. You can’t be so afraid that you don’t try, but being too comfortable and cocky with your business can lead to trouble as well… (I’ve really being trying to explain preparation and planning will go a long way!)
  3. Trust your Iintuition.
    True business instinct/ iintuition comes from being able to take random factors in the market and put together in a way that you can recognize opportunities. If you have a moment of realization, trust your instinct and go ahead. Missing a true opportunity could be more costly to your Psyche and pocket than trying and failing.
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September 5, 2009 - Posted by | Business, Business Development, Entrepreneurship | , , ,

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