June - 2009 issue > Entrepreneur 101

By Gunjan Sinha

During these difficult and recessionary times, it becomes particularly important for entrepreneurs to know the rules of the startup game. The bar has been raised for startups. It is significantly harder for entrepreneurs to attract capital, build teams, and attract customers. Yet, now is the best time to launch your next venture. There is tremendous opportunity for the bold and the brave to seize this unique timing as the market has hit the bottom.

Now is a Great Time for Startups
A lot of entrepreneurs are wondering if this is a good time to start their ventures. My answer to them is that downturns represent strong opportunities for daring entrepreneurs. The reasons are 1) Big companies are pulling back, making room for startups to fill the gap, 2) VCs are slowing down, hence there is reduced competition overall, which makes it easier for the current entrepreneurs, and 3) The current job market also makes it easier to build your ’A’ team.

Entrepreneurs typically think counter intuitively and given that the world is obsessed with the financial crisis, recession, etc., now is a great time for entrepreneurs to draw upon their eternal optimism and build companies.

Where are the Opportunities?

The big question for the entrepreneurs is, where are the real opportunities? Markets have changed, consumer and business spending has shifted, so where are the new areas of demand and investments? Let us look at it sector by sector.

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