Starting a Business

Given the economic state and the recession outlook, what advice would you give a first timer business owner?

Interested in opening an eclectic vintage and coffee boutique in a quaint yet busy city in Florida. Concerned if now is the correct time to open a business, or if I should wait until the 'downturn' passes?
Guest Writer
Opinions expressed by Entrepreneur contributors are their own.
Hey, great question!

There's never a better time to get started planning than now. No matter how healthy the economy is, some businesses will do great and others will fail. Starting any business takes months of planning and work, so get your business plan in order. While writing the plan you will see very quickly how ready the market is for your business.

Put simply, a business plan is more about the thinking and evaluation you do to be able to write it than it is what you put into the plan. I personally started several businesses during down economic times and found that it made it really to keep costs down. Then when the markets picked up, I was able to make great profits.

All the Best,
Brad Sugars
My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Former Apple CEO John Sculley Shares 4 Key Strategies for Growing and Marketing Your Business