Two speakers discuss why recessions create opportunities for new businesses. You get better deals on resources, slower competition, and more time to prepare before the market speeds up again.
So do you think that this is just a real time of great opportunity for a lot of people to retool and rethink where they're at and where they want to be? Do you think that's sort of the universal opportunity?
I do, yeah. I mean, everybody's getting this big jolt together. You know, we're experiencing this together in some ways. You know, we're getting more support in that way. And I think companies that are going to survive this, you know, challenging time are also regrouping. It really makes you look at what you have and, you know, how are we taking care of our clients? Where are we maybe spending money that we don't need to and really putting our best foot forward? And so when this begins to shift and the economics turns for the positive, you know, these businesses are going to be, you know, right on top. Just as someone starting a business. Now, people think that that's, you know, this is a wrong time to do that, but they're actually many companies like, you know, Hewlett Packard, Burger King, Hyatt, all started in a down economy. And, you know, there's some real benefits to it. First of all, things are a little slower. You can get all your kind of ducks in a row when you're building a business. You can negotiate leases right now and get better deals. You know, if you're needing that, you can negotiate on goods that you need and services. People, people are willing to come in possibly and help you at. At a little lower rate. So there are a lot of good reasons.
It's like a little crack. It's like a little opportunity or an opening and things that might have been kind of jammed up in the past.
Yeah, exactly.
So your advice for people who are maybe on their butt side right now of the opportunity, you know, they're on their butt thinking, it just seems like nothing's really happening for me and I can't create. Your advice to them is watch what you're thinking and watch what you're focusing on and continue to focus on what you want and what you'd like to create and hold that belief that it's still possible?
Yes. I mean, well, even more so. I think that sometimes it's hard to just switch your mood like that when you're feeling really miserable. And, hey, I've had my days, I've had my times in my life. But if you can, first try to get to a place of gratitude for the things that you do have. I mean, number one, if you've got your health, I mean, that's huge. Because if you're. And I know in being a homeopathic physician for many years, when people struggle with their health, it's hard to create anything when you don't feel well. And so really looking at the things that you have, if you have a good relationship, if you, if you do have a home to live in, or if you have hobbies that you enjoy or if you have friends that you love being around, put your attention to that.
