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Bad time to consider opening a business?

Discussion in 'Starting your journey' started by CaraTee, Aug 11, 2014.

  1. CaraTee

    CaraTee Member

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    What is everyones POV of the current gloabal and domestic marketplace? I am not much of a whiz about global matters and economics.

    But with everything that is happening like unstable Russia/Ukraine/US relationships, talk of war, continued problems in Iraq/Palestine. High unemployment in OZ. Peak oil.

    Do you think its stable enough to pursue our own business in hospitality?
  2. IncredibleCo

    IncredibleCo Active Member

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    You'll never know unless you try...
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  3. LucasArthur

    LucasArthur Renowned Member

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    It may sound a little naive, although if you have a passion, a desire and a dream i believe the time is right when you feel it is right. The economic forecast, depending on which paper or person you follow, will potentially always have a negative or a positive spin on it...

    What really matters, is if your question is being posed as you are seeking an out.. If this is the case, maybe it is not the right time.. although if this is the question, maybe never is the right time..

    AM not being negative, as i have followed your posts from a few weeks ago and see your dream is there.. Your goal is there.. Your passion is there.. although with the last couple posts, maybe some hurdles are in front of you that you didnt expect which is potentially throwing you into a little disarray..

    Trust me, once you get past this... You'll feel more comfortable.. promise.. We have all had these hurdles, these thoughts about our passions and most of us (well the regulars on here that are in business) have pushed through this pain threshold..

    Let us know how you go lovely..

    Jason

    ps.. may i say.. ukraine/russia/america social and economical issues tend not to effect my coffee or lunch buying decisions...
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  4. Johny

    Johny Renowned Member

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    You don't have your borshch flown in like the rest of us then, Jason?
  5. MatthewKeath

    MatthewKeath Renowned Member

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    I think you will find that there has been no period in history where you couldn't pick 5 or 6 things that you could point to as why it's a bad time to start a business.

    The unemployment is 6.1 % which means that out of 100 people 93.9 people have a job, and all of those people need to eat.
    CaraTee likes this.
  6. CaraTee

    CaraTee Member

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    Re: Bad time to consider opening a business?b

    Yeh my hurdle is sh1t just got real. It was an idea and I have worked on things and done estimates and it seems totally feasible.

    But then I think oh lord I must be bonkers. Go and get a Normal jobbing hour any risk.

    But I really want to do it just because I want to proove to myself that I can. It would be amazing to turn an idea into sonething.

    But then what if noone comes and I $100k in debt and can't pay the mortgage.
  7. LucasArthur

    LucasArthur Renowned Member

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    Re: Bad time to consider opening a business?b

    Build it and they will come.. LOL.. no seriously, you either back yourself and make it happen or you dont... there is no in between in this scenario and unfortunately no amount of coaxing, feedback, commentary will change your ultimate decision as it is your comfort zone that is being tested... :)

    Jason
  8. CaraTee

    CaraTee Member

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    Yep that's true. Hubby says go for it.
    Worse case scenario we sell the equiptment and add the remaining loan to our home loan or company claims bunkrupcy I guess.

    I am running it past my old boss this week. He a financial adviser. If he thinks the figures I've come up with are feasible then I guess we go to the bank. If the bank agrees then I guess I really should go for it. It's really now or never
  9. PerfectNotes-Kathy

    PerfectNotes-Kathy Active Member

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    Hi Cara,

    You have convinced the most important person other than yourself - your husband - that's really important (maybe vital)!

    Probably by now you have made your decision - so I hope it was positive and the business goes well for you.

    Kathy
  10. bb1

    bb1 Renowned Member

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    eYes this week all of those things are happening in the world, next week they will all go away (well maybe next year), but than there will be new things happening to stop you.

    Bite the bullet and go, we will never have a stable world, but our lives and business's will continue
  11. tonyk

    tonyk Renowned Member

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    I don't think there is ever such a thing as the ideal time to open a business. It's all a matter of putting your skills to good use and being smart enough to outsource the tasks that you're not necessarily well-versed in doing.

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