As I continue on my journey to become an internet entrepreneur, I continue to face decisions that will affect if I continue on my current path or not. At a time when the economy is faltering and the dollar is losing its value, it is not easy to be running a startup company. I continually ask myself whether or not I am entering the ballgame at the wrong time. I keep convincing myself that, yes, I will be able to do this and be successful.
I keep hearing that Web 2.0 has reached the high-water mark and that investors are starting to shy away from internet startups, but I hear from other people in or close to the industry that are saying the exact opposite. The same holds true with internet advertising. I read an article yesterday that stated online ads were going to decrease by billions of dollars, yet I heard from a professor that a major car manufacturer is taking money away from TV advertising and putting it into online ads. So what gives? I really just think that there is so much confusion and speculation because of the economy. No one is sure what to be doing because the future is so unsure.
Reading Melissa Chang’s article “Five reasons why a recession is a good time to start a company” gave me some inspiration and confidence to know that I may just be able to pull through and do well. Just to paraphrase, the five reasons are: 1) A recession forces founders to be frugal, 2) Recessions force entrepreneurs to take a closer look at their ideas, 3) Recessions lead to committed startup teams, 4) Startups get a head start, and 5) Recessions toughen up companies.
Hopefully all this holds to be true as I continue planning my startup. Let me know what you think.