A recent post at OnStartups.com shares why, with the current economic situation it is a great time to start a company. I agree with all the points, though my opinion is the #2 and #6 are the most crucial for any one contemplating a startup:
2. Cheap Talent
It’s hard to hire good people because they already have a job. But right now that’s not true — companies are exploding and laying off everyone, even the stars.
If you’re starting a company you’re probably looking for a co-founder more than an employee. Even better. In an environment where few companies are hiring, lots of stars (or, better, potential stars) are out of work.
The market is flooded with good people. Maybe you yourself just got laid off with some co-workers you like! Just keep your hiring standards high and dig into your social network. (Or go get a social network now. See? That Facebook account really was a good idea.)
and
6. ”Now” is always the right time
The most common day for starting a new company is the same as starting a new diet: Tomorrow.
Take the leap. Not tomorrow. Today.
The third-hardest thing you’ll do is to take the leap. (The second-hardest is getting through the first fifty sales, the ones well before the chasm, when you’re sick of tech support and wondering when the real money is going to show up. The hardest is firing someone.)
Never mind all that. Get started. “Now” is always the right time to start, because otherwise odds are you’ll never start.
If you don’t start, you’re doomed to a life of trudging through jobs, depending on someone else for salary and bonuses and health care and retirement, a life’s work without ownership or upside.
Great post.
About nathan kaiser
Thanks for mentioning my guest post on OnStartups.
I think I agree with you about 2 and 6 being biggest. In fact 1 and 2 are not that different from each other either.
I’m following your blog now — good stuff! I’ll leave some comment droppings…