
You may have the last laugh if you play your cards correctly.
Your opportunity lies mainly in the following facts:
1) The companies have recently been through a boom in the economy where it was hard to get employees, and employees were “overpaid”. That actually may be one of the main reasons you were fired. It takes companies usually quite some time to clean up that kind of mess because it is hard to get employees to lower their salaries and still keep up the moral. So the mistake most companies do is to fire employees in small numbers during a long period of time, which makes all those still with the company unproductive, and scared of being next, and most likely still overpaid. The operating cost of these companies is therefore in many cases still far too high, and employees moral is low.
2) Many of the companies exchanged ownership during the last few years, where buyers paid in many cases too high price for the target company leaving the companies with high debt burden, or the owner vulnerable and with little additional funds to support the company with during these hard times. This means the company has to pat off debt (or high revenue to the owner) that the company in many cases may not afford easily now.
3) The good times have lasted unusually long so most companies have been growing, with projects and sales even coming to them effortless. The times now require much harder sales approach, better prices and better service.
4) Many of the companies have in the last few years purchased new commercial properties or have fixed agreements with too high rent.
5) The employees the companies may have fired in the last year, may have had relation ship with many of the clients of the company.
All of the above facts add to the fact that companies have still too high operating costs, that they can not easily avoid, and are vulnerable to new competition from former employees.
Take some time to think about if you have what it takes to start a company and to use the skills that you have acquired in your life. You don’t have to come up with something new, just focus on what is going on with companies around you, and go for their clients. Maybe you will be the big one when this recession ends, and he big one now may have disappeared.
Marketing and selling your services or products will be the vital part of your success so have that one thought out when you start. Go slowly building inventory or going in to too many obligations before the sales support it. Be prepared for a few hard months while you start and build a reputation.
Finally I want to mention that while creating the company a good partner may be vital for the success, so try find someone you trust 100% and are to be able to work with while you build the company.
Send us your ideas, you may have, for your future company and we can give you our opinion about them.
