In this video from the ‘Today Show’, Donny Deutsch provides great insight into starting a business in the current recession.
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Advice for Starting a Business from Donny-
1) Starting a business doesn’t have to be complicated. Find something throughout the day that doesn’t work and make it better. SIMPLE SOLUTIONS FOR EVERYDAY PROBLEMS
2) Recession is a great time to start a business- you can find good people to work inexpensively, there is more opportunity to partner with people and businesses. During the Great Depression is when more new businesses started than ever before- now is the time to start your business.
3) Start a business on-line. If you start a business on-line it is minimum start up cost (you can start a website for $1,000). The internet is everyone’s barrier to price of entry.
4) No Experience- makes for great businesses- “You don’t know, what you don’t know and you go for it.”
5) Understand your CORE business
More to come. Let’s get out there and build a cash flow.
