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Thoughts by José Luis Agell
Start it now!
September 15, 2010Posted by on
I just came back from Barcelona. I was there for less than 9 days but I had the chance to meet with lots of people (friends, relatives and others).
It’s always good to be back home- even if I also consider San Francisco as home-. I like to be with my people and the city keeps surprising me every day. However, this time I was quite shocked by the widespread pessimism. Everybody seems to be complaining about the economic recession and the lack of employment opportunities.
I know the case of people who have been frustratingly waiting for their big job opportunity to come. My message for them is: It’s not the best time to get a job in an operating company, but I strongly believe that if you have a business idea it’s a great moment to start it.
Technology is evolving fast and it’s bringing great capabilities and services, but there are still many things to do. We should be aware of the unanswered questions, unsolved issues or existing pain points and turn this problems into opportunities.
This is the right time for fantastic deals, from land and equipment to commercial office space, personnel and labor. Look around you and detect the people you want to have in your team. Unemployment makes it easy to find valuable people who are willing to take the risk for a lower salary.
New technologies and social media are transforming the way we interact and are pushing some of the infrastructure costs down. Viral marketing, for instance, diminishes the customer acquisition costs considerably. So think how can your business take advantage of these opportunities.
From a legal perspective, business ownership also offers a variety of tax benefits that aren’t available to employees.
At last but not least, if you’ve lost your job you have to do something. Being an entrepreneur is not an easy path and you might fail but it’s worth taking the risk. In the worst case scenario, you’ll close down your business at some point but you’ll have gained a lot of experience and you’ll have given the economy some time to recover.