Читать книгу Entrepreneurial Finance - Robert D. Hisrich - Страница 14

While an economic downturn can challenge many entrepreneurs, it doesn't mean it is not the right time to launch a new venture. In fact, history reveals that tough economic periods are appropriate for starting a new business. Out of 30 businesses from the Dow Jones Industrial Average, 16 were founded during a recession or depression: Walt Disney started in the mid-1920s and was a young startup during the Depression, Hewlett-Packard was launched in 1938 during the Great Depression, and Microsoft started to build its empire in the 1975 recession (Abrams, 2008). Instagram, a free photo-sharing application initially designed for mobile smartphones, was launched in the middle of the slowdown in 2010 (Waters & Nuttall, 2012). With only 13 employees, the company grew rapidly and acquired a large user base estimated at over 30 million in early 2012. Without ever generating any kind of revenue (their product was offered for free to users), the company was sold less than 2 years after its inception for $1 billion (Raice & Ante, 2012). At a time when companies do not even need to generate revenue in order to provide a successful exit for their founders and investors, it seems there has never been a better time than today to become an entrepreneur. Entrepreneurs look at problems as opportunities.