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/biz/ - Business & Finance

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50132460 No.50132460 [Reply] [Original]

How dumb is starting a business in this environment?

>> No.50132487
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50132487

>>50132460
I don't know OP. Let's do it together. Give me a D U H. D U U H. Anyway, thia guy loves you a lot.

>> No.50132600

>>50132460
Probably a pretty tough time in terms of getting funding and stuff, but there's also never really a "good time", so if you have a good idea, I think you should go for it.

There's been tons of really good companies that started in recessions or immediately after them in terrible economic climates (or if they aren't "good", at least really large and made their founders billions). Facebook, LinkedIn, Snapchat, etc. Hell, the iPhone was released in 08 when apple was trading at only 2x their cash holdings, it was absolutely not a good time to launch something like that, but they did and it saved their company

This is a speech that sort of goes along with what im saying by the goat Peter Lynch. It's more about investing, but I think the principals can be applied to starting a business as well. There's never a good time for anything and there's always something to worry about

https://youtu.be/Esn0QZmD77A

>> No.50132729

>>50132600
Just looking at the out-performers during a recession feels eh

But thanks for the info. I guess the bitfuck shit is over and it's time do do some real hustling

>> No.50132805

>>50132460
>How dumb is starting a business in this environment?
Depends on how dumb you and your business are.

>> No.50132948

>>50132729
Also ya, as this guy said >>50132805 it depends on the business. I don't really have any golden ideas right now admittedly, but I think there will be an increasing demand for more traditional service/retail businesses just because of how many are going bankrupt.

Although I wouldnt start a restaurant, the ones that are just able to survive now, and make good food will prob do extremely well eventually In the future. People always need groceries, financial services, a place to live, etc.

But again, if your idea is retarded it will obviously fail. I would focus on stuff that's able to generate early revenue so you can bail if it doesn't work out without getting yourself in too deep. Now also probably isn't the time to be selling or doing something that's not a necessity for someone, people are being squeezed and cutting back heavily on discretionary spending

>> No.50132966

>>50132460
not dumb at all, it already at or near the bottom.

>> No.50133097

>>50132460
what happened to the crypto kid ?

>> No.50133133

>>50133097
>what happened to the crypto kid ?
he got axed because he was shilling his astrology services on greg's channel. he was using shit like moon cycles to predict crypto prices.... i'm not making this up

>> No.50133140

>>50132460
A repo business might be good

>> No.50133369

>>50133133
well Greg uses the Secret.
Gonna have to ask Greg and that Crypto kid
to explain the difference between the two.
it's all youtube doomer fuckery

>> No.50133648

>>50133133
well, did the crypto kid predict the colossal downturn there was in crypto?
he probably was one of the number go up forever dudes.
poor performance could have something to do with it as well.

i also suspect that The Mannarino will reduce his putput to one video per day pretty soon

>> No.50134062

>>50133648
can just replay episode____? (pick one)
same doomer bullshit
lots of antics and conspiracy dribble.

>> No.50134208

>>50134062
I can't tell if you're talking about The Mannarino or the crypto kid...
The description probably fits them both.

>> No.50134279

>>50133133
>i'm not making this up
I dare you to make this up people, you can't make it up. Period the end

>> No.50134282

>>50132460
If you are cash rich, this is the best time to start a business due to low labor costs, competition dying off, decreased commercial real estate costs, and increased value of goods that you're trying to produce and sell. Any megacorp that you would normally be fighting with is now on the defensive. The low consumer demand is a great test for a new business. If you can be profitable now, you can be profitable probably any time for the next 10 years. If you need significant financing, however, it is a bad time.

>> No.50134287

>>50132948
What is a good cheap financial services business one could start this recession?

>> No.50134308

>>50133369
>well Greg uses the Secret
source please

>> No.50134354

>>50134308
The secret of the masonic order that is

>> No.50134407

>>50134354
ok and whats that? anal buttsex?

is it different from "the secret" that horoscope chicks talk about

>> No.50134424

>>50134407
How would I know, it's secret

>> No.50134440

>>50134424
fag

>> No.50134524

>>50134308
on one of his episodes 2020 or so.
Stated a couple of sentences towards that
then something about not wanting to go
there. ?

>> No.50134610

i have three different business ideas that everybody ive talked to says "oh yeah thats an excellent idea you should do that" but i need about 40k for IP law and starting up a professional grade website/app and I cant do it. No bank will give you a loan without years of profitable tax returns.

>> No.50134683

>>50134308
>>50134354
>>50134407
>>50134424
>>50134440
Lives in Vegas with an arguably, equally iconic (world wide recognizable ) sky line
as NYC but uses the NYC skyline as a backdrop in addition to the shirt and tie. That's
manifesting success as a wall street guru ?

>> No.50134698

>>50134683
What do you want him to do, talk about stocks with a picture of a casino behind him?

>> No.50134744

>>50134698
??? good point

>> No.50134772

>>50134698
but for retail stock market is kind of a casino

>> No.50134992

>>50134683
the room from which he records his videos probably doesn't have the Vegas skyline in the background so he can't use that. also he's from NYC so the background makes him feel like home

>> No.50135015

>>50132460
I'm somewhere between early and mid career, making $170k at a big tech company. Working remotely. I wonder if i'd be safer being an independent consultant doing the same kind of work I do now. I have a feeling heads are going to roll at these big tech companies soon.

>> No.50135102

>>50134287
You could buy crypto atms to have installed places. The fees they charge is ridiculous and tons of drug dealers use them regularly

>> No.50136619

>>50132460
like all businesses, it depends on the model
there is always a profit to be had

>> No.50136681

>>50132460
Very dumb which makes it a pretty good idea. It's a rothschild axiom:
>start a business when everyone's losing their jobs, even if you lose your own

>> No.50136896
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50136896

>>50132460
I'll suggest a way of looking at it that you might not get from others in the thread.

When you are starting a business, you are faced with an incredibly steep learning curve at the start. Bookkeeping, accounting, compliance, product development, brand development, website, marketing, hiring, selling, etc. You don't know jack shit about any of this stuff and you're basically leaning on the job with whatever experience, connections and capital you have with you to lean on while you figure this shit out.

On top of this, you don't really know what is going to stick or what your target customer wants and is willing to actually fork out some cash for.

Learning this in a very harsh environment when there is not huge economic growth, more limited discretionary spending and fewer distortions from companies that can access credit with much more favourable conditions means that your business is actually going to have a much stronger foundation and less likely to get fucked than if it were built in an environment where all those conditions are opposite.

I think this is the main reason that it's a great macro environment (as in dogshit conditions) to start or try to grow a business. Of course you still have to look at the micro and also how the macro might end up affecting your micro (eg. fuel prices continue to rise, staff shortages) but assuming that bad macro = bad micro automatically is very dumb, being an entrepreneur anyway is about spotting opportunities in the market anyway that others haven't capitalised on.

>> No.50137499

>>50136896
This is a good point. There's tons of hippies near me that are making bank just growing shit like cherries or lemons on their acreages and now that weed is legal, they all have a shipping container weed store on their front lawn. They seem to be extremely happy and comfortable. The key is they're all offering something desirable that takes time/effort/skill to be competitive

>> No.50137627

>>50134683
noone outside of the usa will recognize the las vegas "skyline". i have far above average intelligence and knowledge and i have no clue what it's look like

>> No.50138178

>>50132600
>Facebook, LinkedIn, Snapchat, etc
They are literally all tech companies and Apple was well stablished by then. I guess that what OP can learn from this is to start a tech company. Learn coding, make an app, sell it to a bigger company, whatever

>> No.50138368

>>50132460
Has Mannarino admitted he was wrong about BTC? People who listened to him have been wiped out. Duhhhh.

>> No.50138387

The best time to start a business was 10 years ago. The 2nd best time to start a business is now.

>> No.50138544

>>50138368
its only down like 60% you massive crybaby

>> No.50138605
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50138605

>>50132460
I’m starting my own buisness right now OP. As others have said in this thread, it’s generally a good time to start because you’re going to be building a company that’s starting streamlined for a shitty economic climate and if you’re successful in these times, you’ll be REALLY successful when good times come back. It’s a lot easier to build a foundation that’s lean then starting fat and slimming down the company to optimize it for tough times.
Financing has been absolute aids though so I’ve had to front nearly all the capital for my company.