Now’s a good time to remind ourselves that the classic “buy low, sell high” principle of investment applies as well to starting a business.
Bad as the economy is–and we’re still in a major recession, no doubt–at least we have some new people in charge and real hope of leadership that can change things. There are a new resolve and a new optimism.
So if you’ve been waiting for a good time to start a business, how about now? Banks are going to have to start lending again soon, and investors are going to have to fund some deals (after all, that’s what they do: invest); and the best funding source is customers, anyhow.
Don’t just do it; plan it. Look at your market, sharpen your numbers, take a few steps back and evaluate the opportunity. In other words, develop a plan.
And if the plan looks good, go for it.
Tim Berry is the founder and chairman of Palo Alto Software and Bplans.com. Follow him on Twitter @Timberry.
