Oct
4
Opportunity Knocks and it’s not Paulson’s $700 Billion
Filed Under Business Ideas, Resources, Principles, etc., Entrepreneurship, Freedom, Government, Politics, etc., Ideas and Thoughts
Last week, as my blood boiled when I thought of the freedoms we might loose as a result of the $700 billion transfer of power to the secretary of the treasury, I found myself reading articles, trying to understand what was happening, learning whether I could make a difference. It felt like a worthwhile thing to do, after all, the future of our country was on the line.
Then I read Seth Godin’s post on looking for an opportunity to do less, which hit home for me. I decided to write and call my senators and representatives and then forget about the housing crisis. Stop reading the articles. Stop wasting my time on something I had no power over.
Instead, I spend my time on our company and my family.
In a conversation with a good friend, he spoke of how wonderful a time this is to start a company. As the job market softens it will be easier to attract good talent to your team. He recently spoke with a technical leader in a large organization. Their research suggests that their ability to hire new programmers is going to surge in two months, not because they will have more resources, but because people will be looking for the work. He also commented that competition is so worried about their our cashflow problems and margin pressure that you have a chance to really grow if you dig in and work.
It’s a marvelous time to build a business, attract talent, stay lean and provide value to society.
So, the only reading I will be doing is studying the previous financial crashes historically to understand where is the best direction to steer our business. Did you know that the movie business thrived during the Great Depression? People needed an escape during difficult times…so they went to the movies. There are silver linings on the darkest of clouds. I thank Seth for reminding me to look at mine.
Hope.
That’s what President Uchtdorf called it today. Just saying that word makes me feel better.
Comments
1 Comment so far
You’re absolutely right Neal. Some of the best businesses ever built were started during economic downturns. That’s when business models have to be truly solid. It’s also as you said the best time to hire great talent. Bravo.