- Thinking through your business plan - Since funding and revenue streams are going to be tighter, the promoter of a new business venture thinks through the idea more carefully, refines the positioning of what one is offering and is it really distinctive and appealing more critically and looks for sustaining his business for longer. At the end of the day - these result in a more robust idea.
- Commitment - Since you start during a downturn, your commitment to the venture is stronger and you are passionate to take risk during difficult times.
- People - Getting people to join a start up during difficult times is easier to get cause the fat salaries get thinner, hikes get smaller and job offers get lesser.
- Pressure of a job increases - With a more difficult market, the pressures in a job increase. Getting in business becomes tougher, meeting targets is a pain and patience is lesser
- Consumers - They become more cost conscious and value focused - so if they get some thing cheaper from a start up, they will go for it rather than paying for the best name because of the brand alone.
Obviousely, we have downsides too because companies have less of an appetite to take risk with a start up and decision making getting longer and tougher terms with start ups. However, i still believe that the upside is better
No comments:
Post a Comment