The Bold And The Bailed Out
When the economy crashes around you, what is the last thing you would dream of doing?
Probably start a business.
After all, with businesses failing by the dozens, what makes you think you have any better luck? Charlie Bryne, writing for Early to Rise, said that this counter-intuitive strategy has been successful over and over again.
Bryne writes that the evidence that bad times are boom times for startups was revealed by MIT researchers. If you don’t believe the MIT profs, check out these business that were started during busts.
Hewlett-Packard (Started during the Depression, of all times)
Sony (In Japan… after World War II devastated the country)
Microsoft (In the morass of the seventies)
Here’s the low down about downturns:
The January 2009 issue of Fortune Small Business reports that no fewer than 18 of the 30 companies currently comprising the Dow Jones Industrial Average were launched amidst economic downturns!
It may seem strange, but when the going gets tough, the tough, apparently, create businesses.
(The pic, by the way, is the garage where Mr. Hewlett and Mr. Packard started their business in the depths of the Depression.)
Related posts:
- The Gold Standard Or The Bold Standard
- The End of the Business Cycle
- 8 Reasons why a Down Economy can be Good for your Finances
- A Bold Prescription For Economic Growth
- Personal Abundance Step 5: Get Employed, Stay Entrepreneurial
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
