BusinessWeek writer, Spencer E. Ante provides insight as to how business owners/entrepreneurs can thrive during tough finanical times.
According to self-taught computer engineer and founder of Lotus, Mitch Kapor, “If a product meets an unmet need, it doesn’t matter if the economy is bad.” Simply put, we agree.
The real estate bubble was based completely on want. When priorities changed, consumers got back to basics. The current downturn does not mean that all is lost. It just means that there are new ways for needs to be met or opportunities to be found.
Do your research!
Reference: Startups in a Downturn