10 Reasons To Start A Business During A Recession
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 6 September 2022
⏱️ 10 minutes
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Summary
In this video, Patrick Bet-David reveals 10 reasons to start a business during a recession.
Download the free PDF from Valuetainment here: https://valuetainment.com/10-reasons-to-start-a-business-during-a-recession
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Transcript
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| 0:00.0 | Theoretically, many experts may tell you a recession is the worst time to start a business, |
| 0:05.5 | but I'm going to give you 10 reasons like this, the perfect time for me to start a business. |
| 0:16.0 | Stick around to the very end, I'm going to give you a PDF with all the notes from today's content, |
| 0:19.2 | and if you get value from the video, give it a thumbs up and subscribe to the channel. |
| 0:22.4 | Having said that, pruning season is here, which means five things happen during the recession |
| 0:29.0 | at market crash. Number one, bad companies go out of business. Number two, it creates room for |
| 0:34.1 | new companies to grow. Number three, starts a decade or so of growth. Number four, no more |
| 0:39.6 | overpriced talent, and number five, access to talent previously unavailable. These five things |
| 0:45.9 | are great opportunities for new businesses, small businesses, and entrepreneurs. So now 10 reasons |
| 0:51.7 | why this is a great time to start a business for yourself. Number one, when a season like this |
| 0:56.0 | show up, unfortunately, many people don't make it, which means there is less competition. |
| 1:00.4 | Anytime there's less competition, if you got a better story, you're able to get in front of |
| 1:04.8 | the customers better. So again, point number one, during the recession, there is less competition, |
| 1:10.0 | bigger opportunity for you if you can survive and thrive during this type of a season. |
| 1:15.4 | Point number two, all in mentality. Unfortunately, unfortunately, when times like this comes up, |
| 1:21.6 | recession, market crash, backs against the wall, people don't have a choice, but to be all in |
| 1:27.6 | because they have to pay the bills, they have to survive, they have to fight. There is no choice. |
| 1:32.6 | So a climate like this attracts a team of people that are willing to say, let's roll up the sleeves, |
| 1:39.3 | let's cement this ain't good times. We got to go out and fight, and everybody has a higher |
| 1:44.0 | all in mentality during a season like this than when it's a perfect season. Point number three, |
| 1:49.3 | access to good talent. So when the market turns and it's kind of like it is today, good talent |
| 1:54.4 | gets fired, Amazon just laid off 180,000 people, banks are letting people go up, Facebook's not |
... |
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