We have certainly heard a lot about how bad this recession is and how really bad it could be or get.  The press hasn't helped much with their comparisons between this recession and obviously the 1929 Great Depression.  That is not a fair comparison and we are nowhere near the levels that were reached during the 1929 Great Depression.  We aren't even at the levels of the 1982 recession.  So when I hear on TV that this is the worst recession since 1930 or 1929 that is absolutely false and a complete falsehood!  Now, you must understand if Washington (Pres. Barack Obama and his cronies) were to mess up royally then yes in the near future then all bets are off and we could be looking at a depression - but I highly doubt that. 

But as of right now we're looking at a solid recession that could be maybe the third or fourth worst since 1930.  We are looking at coming out of it in the end of this year and having a much better 2010.  Much of the bailouts and monies put into the stimulus packages by the government will start to come online and we will start to feel them in the summer and the fall of this year.  Don't be misled, though, it is going to be a long road out of this recession because it did take over 14 months for it to occur and it is not done yet.  We are in the bottoming out process but that does not mean it can't get worse before it is over and you need to use the S&P 500 rather than the Dow industrials to determine the actual low points that technical analysts use and things like that to determine or guestimate when and if it's coming back up.

So the recession is still going to continue on for the next several months and the economy still has a lot of lagging and hurt that will be felt as more jobs will be lost, companies will be cutting back, others may be going bankrupt, and etc.  This is a natural process as you have business cycles of boom and bust and they repeat themselves over and over and over again.  The bust or the recessions clear out the bad businesses - the people that overextend themselves (this is one key thing that some people obviously will never learn until it's been really hard is that you don't spend what you ain't got - and some people do this with a capital S. as they leverage what they have thinking that they can make a huge windfall and then they get demolished when the cycle turns into a bad recession like we have now).  

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Don't let that happen to you.  Learn to be frugal and buy only what you can afford and need and watch what happens to your financial future.  Don't get greedy and get caught up in these upswings in economies and miss the signs of the impending or coming down turn and lose everything that you've invested plus more sometimes.  The great investor Warren Buffet states that the best time to buy is when everyone else is selling and the best time to sell is when everyone else is buying.  Nowhere else is this more true than right now today.  You see, all assets whether they be stocks, real estate, even businesses are at fire sale prices right now.

As was stated in the news, the Dow Jones Industrial average just flirted with prices from 11 and 12 years ago.  So you can buy interest in companies (through stocks, bonds, etc.) at prices from 10,11,12 or even more years ago.  Just go to your local clothing or retail store and tell them you want to pay the same price you did 12 years ago (well, if they're going through bankruptcy like Circuit City you may actually be able to do that) but in most cases they'll laugh at you. 

During a recession you can actually start a business with fewer competitors, for less money and with less risk.  A recession is a boon for any entrepreneur.  This is why through the past hundred years or more that more great entrepreneurial ideas have been launched during recessions or even depressions than during any other time.  Sometimes it's out of the needs or necessity of the entrepreneur as they need to make a living especially if they lost a job or some similar hardship.  Other times it's because of the reduced costs to start a business.  Great labor is cheap during a recession as people are just happy to get a job.

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I just saw an interview on TV last night of an engineer that was happy to take a minimum wage job just to have something that paid money.  There was also an attorney that couldn't find work for almost a year.  They couldn't even find substandard work because everyone told them that they were way overqualified.  The work world is pretty rough out there.  College students can't find jobs that help to make ends meet.  Young people are moving back in with their parents to either save funds or because they don't have a job.  It's not as bad as it was in 1929 when there was a 30% unemployment rate as now we only have 8.2 or 8.3% unemployment rate and it could get to a 10% unemployment rate, but I don't imagine it will get too much worse than that.

The fact here is if you want to start a business there is no better time than right now during a deep recession to come out with it.  Yes, it may be harder to get some sales especially in the beginning as many people have reduced and cut back on their spending, With a little ingenuity and a little bit of hard work one can accomplish anything even in a recession - even in a deep recession like we are in now.  All it takes is to have an idea and it's better for it to be your idea and your business then to be a semi-entrepreneur and buy someone else's idea through a franchise.  Do you know why that is?

Simple, it's because over 95% of franchises and franchisees go under or fail. This is because you have to pay royalties, start up fees, advertising fees, etc.  and these fees can all seriously hinder your business.  Not only that but you have constrictions that you can't do certain things and you have to abide by their rules.  For instance, if you had a Pizza Hut or McDonald's franchise and wanted to use your own soda or drink suppliers to save money and earn more profits you couldn't do it.  You have to order through the Pizza Hut or McDonald's supplied vendors even though they most likely cost more money (and in some cases a lot more money). 

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You also can't change the brand, the look of your business, etc.  When you start your own business and do it your own way you have the freedom to choose and do what ever you please.  So if you find something works better or if you disagree with something that a franchise is doing  you are free to do as you wish.  For example - Pizza Hut's stupid idea to brand themselves as The Hut and waste valuable branding and advertising space on their pizza boxes by coloring them all red and just stating The Hut on them.  Whereas Papa John's pizza has realized the valuable advertising space and potential of the pizza box and uses it much more wisely.  They creatively put a picture of the founders special Chevy Camaro that he had to sell and give up to start his pizza business and then they also include coupons along with the history of the business.

Maybe Pizza Hut will learn from that someday.  Anyway the point here is every business needs to be able to change and more now so than ever.  Every year that goes by new products come out, new technologies come out, tax codes change, investment laws change, politics even changes, etc.  As a successful business and entrepreneur the main thing you will have to remember is that it's not what you did or accomplished in the past that matters - It's what you're doing right now and from this day onward.  You have to look at your business the way a car dealership looks at a car salesman at the end of the month and at the beginning of the month.  They go from hero to zero in one day on the first day of every month.  So on the 30th of the month you could be the top car salesman, but on the first that month is done and the next starts and it goes right back to what can you do for me now.

And in the business world this means that you have to learn to adjust and change to what's going on to be successful.  If something isn't working then you need to learn from it and find what does work.  You need to be flexible and proactive.  You need to keep sticking to what works and drop whatever doesn't.  You have to be persistent and keep trying until something does work and then even when it does keep improving upon it.  This is what makes winners stand out even in the toughest of times.  It is their drive and their perseverance that will not only carry them through but make them winners. 

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It doesn't matter the niche or what kind of business you're in.  Regardless of whether you want to start a charity, a for-profit business, a new technology, or even just a pizza joint or a used clothing store.  A recession gives you a chance to shine and to easily outshine your competition.  Another great aspect of this current recession is that it makes it much easier for small business to take on much larger business.  Small businesses don't have the expensive workforce, healthcare costs, etc. associated with larger firms and companies.  These costs can really weigh down and even hinder much larger companies.

So, regardless of what they say on the news and how bad things may look out there you can take this time to come out a winner with a new idea or business.  You can sit back and figure out what new business you want to get into or start and basically take whatever lemons this recession has handed to you and turn them into lemonade.  This is what entrepreneurs do every day and recessions are when the best of them truly come out and shine.  So don't see this recession in a pessimistic way.  Look at it as an optimist and start a new business and take control of your life.

This recession may be just what you needed to get your life back in order.  Just as there are poor stories of people losing their jobs and losing their jobs, houses, etc. there are also stories of those that are creating jobs and building businesses at the same time.  It is unfortunate that the media which consists of the TV news and print news finds it more profitable to focus on the bad news rather than on the good news.  If they did the opposite we would probably be finding ourselves at the end of the recession or the bottom would've already occurred by now.  Instead they have found a way to basically paralyze the nation in front of the TV as more and more bad news keeps coming out and being presented as stuff that the world has never seen before (which is false in and of itself).  This is bad as the world has seen much worse numerous times and has bounced back from it every time.  We will bounce back from this recession just like every other one and you can take this time to bring out a business and change your life and change your world as you see it.  It's your time to shine - what are you going to do it?

 

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