Although this thought might seem a bit oxymoronic at this time. But make no mistake this is the greatest opportunity you will get in your lifetime. Your parents never got it and maybe your grandparents went through such a phase during the great depression in 1930. This brutal Pandemic has brought the world to a stand still. But if you are an Entrepreneur or you are someone who always wanted to be one This is your shot. As the great ancient philosopher Eminem said " you get one shot do not miss the chance to blow".
This challenging time has not only broken the back of small businesses but also big Multi National Corporation. Apart from Amazon rest all are struggling. This is evident by the number of CEOs quiting. A staggering total of 216 CEOs quit in January. Ever wonder why ? Let me tell you a secret, because they can not legally dump their shares while on the board. So they quit to sell it all because they know what is coming.
The starting line has been redrawn. You are standing toe to toe with every other Company be it a small startup or a MNC. There is even an advantage if you are in the process of becoming an Entrepreneur. You are still debt free as far as your business goes. Debt is the Goliath that is bringing down all these corporation and mom n pop stores. With the extended lockdown the banks didn't wave off even a dollar all they did was , to give some time for the EMIs to be paid. Debt and Liabilities will make most of the market go bankrupt and there is your opportunity. Keep these following points in mind.
1. Buy Used Assets for your startup by the ones going bust. Try getting your hands on that sweet sweet mailing lists and compiled analytical data.
2. Opportunity to hire the best Human Resource which has been laid off from the previous organization which is forced to cut costs to survive.
3 Super Cheap loans because of the FED induced Helicopter money. Hopefully we get some negative interest rate love from our overlords.
4 Adequate Time for trial and Error and to be ready for the economy to turn which it sure will although it might take some time.
Always remember more millionaires came out of great depression than any other time in the American history. Agreed History doesn't repeat itself but it surely rhymes.
