A very close friend of mine asked me about my views on the economic crisis and how I am viewing it from my entrepreneur standpoint. Obviously, I have to be critical as I am currently building up my startup. A very important time indeed.

Here are some of the feedback I shared and additional thoughts:

  • Face the fact, the economic crisis will not help business as usual but there are pros and cons in any economic conditions. The goal is still the same but the rules to how the game is played will change. Understand the new rules and be cautious at all times.

  • Bad times means there will be less people starting new businesses. This will mean less competition but in a tougher environment. Use that as an advantage and look for higher ground to stand tall in a less crowded marketplace.
  • It’s my personal ambition to test out my entrepreneurial DNA and compare mine with already successful icons. Having such harsh economical condition might prove to be a rare learning and growing opportunity for one who wish to harness its best.
  • I don’t think we are inferior to these already successful people but I think people/entrepreneurs are lack of courage (foolishness), tenacity (sense of desperateness)  and the capacity for greater opportunity (greater risk). Depending on how you see the cup - half full or half empty.
  • You should aim higher. That could separate you from the average person and the elite. Don’t let anyone tell you that you can’t be better than Steve Jobs or Bill Gates. Why let them? You should aim higher.