3 Reasons Cheap is Good

by Wayne Sharer

International speaker, author, and entrepreneur. Retired navy officer, former commanding officer. Over 35 years of leading, coaching, mentoring, and speaking.

May 6, 2010

Why start a business during a recession?  Maybe you should ask Dale Carnegie.  Well, he’s dead, but here we go…

It’s a known fact by real entrepreneurs the absolute perfect time to start any business is during a recession.  This is especially true for online business. With the economy in a recession this might seem strange, but it’s true.

Economic slumps provide a pool of real opportunity to get your business rolling.  I’ll give you 3 reasons you should be putting extra effort – right now – to starting or accelerating your online business today:

Everything’s Real Cheap

Take a look around you.  Have you noticed how during a recession  you can get a lot of things for cheap. Things like marketing stuff, and products you want to buy or sell.  Even the advertising has got cheaper.

And why is this.  Just think a little, and notice that the majority of people are struggling.  This causes cutbacks in budgets.  You see lots of businesses closing their doors, or shrinking the numbers of employees.  So even advertising is not selling very well right now.

Naturally, this means you can get good advertising for a much more reasonable price.  Now that’s one good reason to start and online business, don’t you think?

Reality is People are Cheap Also…

Not to call anyone names or even to suggest this is bad.  In fact, it is good for you. During a recession, people everywhere become cheap.  You now have the ability to hire people to help build your business at lower rates then you would during an economic boom.

This is a real edge up for getting your business started fast and easy, and for very low cost.  It saves you lots of cash, and you’re able to hire more freelancers and get a lot more things done. This is a great second reason.  What do you think?

Competition Drops

Finally, you’ve probably noticed with people going out of business, and downsizing there is a lot less competition.  Many business owners just couldn’t make it and closed.  This scares most people away from starting a business, online and off.  So you have the advantage of less competition.

Whether you realize it or not, you’re able to build from the ground up.  The old timers have to rethink everything.  This is very difficult for most.  Thus you get another advantage from the existing competition.

There’s no stepping back for you.  You just move ahead at maximum warp speed.  You easily recognize what people need, and what you have to do to profit while filling those needs.  It’s likely that you’ll take business away from the existing businesses, and they won’t even notice.

So there you have it.  3 great reasons you should be starting an online business or moving faster to make it grow. Products and services are low cost, people are willing to accept less, and the competition is dwindling.  So let the majority believe they shouldn’t start a business, while you take the advantage and grow – fast!

The down economy is a real entrepreneur’s friend.  Recognize that now, and you will flourish real soon.

See ya soon,

– Wayne Sharer

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