How to find opportunity in a struggling economy: Feature Article
But just because the economy is facing rough times and the stocks keep going down in value on a daily basis that doesn't mean that everything is bad for opening up a new business. The reason for this is that you are going to need to think about the fact that even though the economy is facing rough times right now that doesn't mean that it is going to continue. Basically if you plan on opening a business you need to think about the fact that times are going to change in the future. You want to remember the fact that the future outlook is going to be brighter in the long term than it is currently. In fact there are plenty of things that can happen that you would never have expected when it comes to the struggling economy and finding opportunities.
One thing that you need to look at is the fact that you can find numerous business opportunities in the marketing or sales division in the service areas of businesses. The reason that you can find opportunities in this area is because of the fact that many of the larger companies are actually downsizing these departments so there is a greater need for somebody to pick up this slack. So if you are a sales professional one of the things that you can do is start a business that allows you to work on a commission based opportunity as an independent manufacturer's sales representative and approach the larger companies for their business. If you have marketing experience you can look at the companies that are outsourcing their marketing needs and work on a commission based opportunity. The reason that this is a great opportunity for you in the struggling economy is because by working on a commission you are not a fixed cost to the businesses in fact you actually will add value to the business.
Something else that you can do to find new opportunities in the struggling economy is to look for new doors opening that actually spell a bargain for new business. One thing that many companies are facing when it comes to this struggling economy is the fact that numerous business are starting to close or in some cases they are starting to downsize so this can actually create new opportunities for you if you are thinking about opening a new business as long as you know what to look for.
In many cases landlords are facing the fact that they have numerous vacant offices in a bunch of their properties. And because they have vacant offices in their properties this means that they are going to have to make up the difference when it comes time to pay the mortgage on that property. So they might actually be willing to consider a lower amount for rent with the struggling economy just so that they can have that space filled up and some money coming in. But another thing that people might accept in this struggling economy which means opportunity for you is working in exchange for owning shares in your business rather than cash. Or companies that previously refused to do work for you because they figured it was a waste of time might be more than willing to accept your jobs now because it provides them a way of making money when they might not otherwise make money.
If you are going to be looking for a business opportunity or any opportunity to help make some money during these tough economic times you want to make sure that you are doing something that you enjoy. The reason for this is that you are going to be skilled at what you are doing and you are already passionate about it and that will show through your job which can help you increase your sales and make your business thrive even in a tough economy. The hardest thing that people have when it comes to opening a business is figuring out what kind of business they should open even if it is right in front of them. So when trying to decide what kind of business to open you are going to want to play to your strengths and make sure that you take into consideration skills and passions that you have that you might not think were marketable in the beginning.
Another place that you can go to look for a great opportunity in this struggling economy is in business that are going out of business. Many times the business owners are going to have to close their doors because they can no longer keep up with the high overhead that they are running. This is a great opportunity for you to purchase some needed business items for your own business at a great price. In fact you might even be able to find a business that you can buy at a discounted price that you can work on turning around.
But perhaps the one area that many people are avoiding looking at is the real estate market. Many people are avoiding even thinking about the real estate market because it is basically upside down and as the struggling economy gets worse the housing market seems to get worse. In fact many people tend to blame the struggling economy on the bad housing market. But what these people don't know is that regardless of if the housing market is to blame for the struggling economy the housing market actually provides you with a great business opportunity if you know what you are doing.
Because of the fact that hundreds of people are losing their homes due to foreclosures this means that the banks are being faced with owning numerous homes that they have no interest in. This presents you with the opportunity of being a problem solver for the bank. Basically the opportunity that you are going to be faced with is property management. What you are going to end up doing is to approach your bank and offer them your services. What you will end up doing is managing the properties that are in foreclosure by going and collecting the rent that is due and giving it to the banks so that they are not losing money on the properties that they are now going to be owning. Although this opportunity can actually be a big headache it also is a huge advantage because once the market starts to get better you are going to be in a great position to resell these listings because the bankers will remember you for helping them out.
But another place that you can find opportunity in when it comes to our struggling economy is in low cost retail stores like IKEA or even Wal-Mart. When money gets tight people do not want to spend that extra money on a quality item especially if they can buy something quite similar to it and save money. The reason for this is that the money they save on buying the low cost item can be spent on bills and things that they cannot do without. Not to mention the fact that when it comes to these low cost stores opening up new buildings it will create job opportunities for numerous people in the construction industry because of the fact that people will have to build the building that is going to be used for the store. And as long as these low cost stores continue to thrive in the struggling economy they are going to provide the business opportunities for other industries for as long as they continue to build. Not to mention they are also going to create job opportunities for people who work in the retail business.
Just keep in mind that no matter how bad the economy gets and how hard it is struggling if you know where to look you can find numerous business opportunities for yourself. In fact one of the best places to look for business opportunities in this struggling economy is in the home based business industry because of the fact that the start up costs are lower then starting a small business in a physical location.