With more bleak news on the economy from the fed today, it’s good to remember a point we’ve made before: the downturn can actually be a good thing for entrepreneurs. In fact, the Harvard Business Journal goes so far as to make the argument that most savvy entrepreneurs love a downturn because of the opportunities it affords. They make a good point: Clif Bar, Chipotle, Method, and Hanna Andersson—all hyper-successful businesses—launched in the midst of a recession or downturn. Says entrepreneur Eric Ryan who co-founded Method, a natural cleaning products business, during tough times:
“Starting a business in a recession is like vacationing in the off-season. It’s a little less crowded, and everything starts going on sale.”
Words to live by.