Many conversations I've had over the past few months centered around an expected increase in new businesses and technology startups. Whether a new fast casual restaurant, a new online social sofware company, or whatever else, these vast cuts across corporate America will create new ventures. Thousands from Yahoo!, Lehman, HP, and others will look at another corporate position, but hundreds will seek to become entrepreneurs.
Initially, some people might think the opposite trend since being risky during a downturn seems crazy. Less disposable income, decreased corporate spending and the tightening of investors' wallets. But downturns produce excellent entrepreneurs since the stakes are higher, expenditures are carefully watched and the immense pressure can lead to thoughtful planning and a flood of creativity.
If you have a great idea, started to plan it out, and have the necessary resources to get your venture going, I say DO IT! Don't wait too long, but also know when to fold.
Here are some recent articles I've come across related to this topic:
"New Economy Means New Entrepreneurs" TheStreet.com
"Launching a New Venture
With the current economic storm raging, can a better understanding of business models make for smoother sailing for today's entrepreneur? What strategies can entrepreneurs adopt to help them weather this storm? John Mullins has researched entrepreneurial ventures and offers some valuable insights" London Business School
"The Art of Raising Venture Capital" by Guy Kawasaki
"Chickens Vs Butterflies: Raising Venture Capital in a Down Economy"
"Cover the basics before you raise capital" BeyondVC
"The United States of Entrepreneurs" The Economist