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There’s no “perfect” time to start a business.
General Motors, IBM, and Disney were all founded right before the Great Depression. Google, Salesforce, eBay, and Amazon all came out of the dot-com bubble. And Facebook, Twitter, and many others made it through the economic crisis of ’08.
Whether you start a company before, during, or after a recession or global crisis does not necessarily mean you are going to be more successful in the long term. If anything, global crises are what highlight the next generation of problems the world needs to solve to move forward — which gives rise to dozens and dozens of new companies, new markets, and new industries.
As we find ourselves in another global crisis, right now presents an interesting opportunity for entrepreneurs.
I believe entrepreneurship and starting a company stems from having a great idea at the moment of time you’re living in. What’s interesting about our current environment is that we are all (mostly) sheltering in place. Many of us have been forced to work remotely for some period of time, or for the foreseeable future. That means we are reexamining many aspects of our lives we otherwise took for granted. And all of this leads to exciting opportunities to build new products, new solutions, and a new world.
Without long commutes, without as much of a social life, without many of the things that used to keep us busy, some people have potentially more time than they’ve ever had to invest in getting an idea off the ground.