Let’s not get too lost in the major macroeconomic news. Startups go on. You fill gaps. New needs arise.
I just caught Wind Power Holdings snags $37M for wind turbines on VentureBeat:
“As the rest of the economy tanks, the cleantech sector has remained buoyant, with investors continuing to dump cash into wind, solar and other renewable energies. Banking on a recent wave of enthusiasm for wind power, Barre, VT-based Northern Power Systems announced that its parent company, Wind Power Holdings, has raised $37 million in first-round funding.”
Not that you don’t need to do something people want to pay for in a good market, with a credible management team . . . you do . . . but that’s always been true. And starting up will definitely be harder now (after the latest financial crisis) in some specific business areas affected by the mortgage crisis, Wall Street failures and so forth.
Yesterday on my Planning Startups Stories blog I posted on ADP’s report that businesses with fewer than 50 employees added 28,000 new jobs during the month of September . . . right smack in the middle of the crisis.
And I’m not saying don’t give up. Plan, revise and review your plan. Take a step back away from it, and look at it again. Give up if the specifics look bad; don’t give up if you review your plan and it still looks OK.