Re:Why to Start a Startup in a Bad Economy (2008)
by inglor_cz on Sunday November 15, 2020 @03:38PM
(#25104602)
I sorta kinda think that bad economy could actually help some startups grow.
In bad economy, businesses are looking to cut costs and optimize their processes. So do people. If you can come up with something that saves people money or hassle, the rate of adoption may be sky-high.
If we take AirBNB as an example, it helps both travellers save their money, as the lodgings are usually cheaper than classical hotels, and helps people with unused rooms make some money on them.
Ofc AirBNB evolved into a megabusiness in the meantime, and you will rarely meet your host in person, but the gist of the idea is clear.
In bad economy, businesses are looking to cut costs and optimize their processes. So do people. If you can come up with something that saves people money or hassle, the rate of adoption may be sky-high.
If we take AirBNB as an example, it helps both travellers save their money, as the lodgings are usually cheaper than classical hotels, and helps people with unused rooms make some money on them.
Ofc AirBNB evolved into a megabusiness in the meantime, and you will rarely meet your host in person, but the gist of the idea is clear.