In her article What’s better than a zombie invasion?, Jodi discussed the idea of entrepreneurship as a productive, radical tool for change. Investors are excited about putting money into startups rather than into the corrupt hands of Wall Street. This got me thinking. Why shouldn’t they be? A successful startup leads to the organic growth of the economy and employment. Organic growth is key to long-term stability.
If, like me, you were intrigued by the idea of entrepreneurship as a tool for change, then you probably also thought, ‘Entrepreneurship? It’s not the time to start a business.’ But that’s where you’re wrong. Even in the midst of the worst economic downturn, there’s room for true innovation.
Take it from William Dunkelberg, the chief economist at the National Federation of Independent Business. Older, established firms are struggling, because there’s too many of them — “too many firms, like too many houses, like too many of a lot of things.” So, while it may not be the best time to try opening a coffee shop or art gallery, it is the best time to find real solutions to real problems.
“Necessity is the mother of invention…” says Ted Zoller, VP of Entrepreneurship at the Kauffman Foundation. Thomas Edison’s company began right in the middle of a recession in 1879, and went on to become the General Electric conglomerate we know today. Sometimes, starting at the bottom means there’s no where else to go but up.
Don’t be fooled — it’s rough out there. People are tight with their money and anything frivolous is out. But, innovation that leads to the resolutions of problems, has potential.
Get innovative, be creative and find a problem that needs solving.