Taking Chances When There's Nothing To Lose

from the why-not-start-a-company? dept

A few months ago, I heard a VC say one of the best quotes I’ve heard about starting tech companies. It was pointed out that VCs seem to always say that “right now” is the best time to start a company. During the boom VCs said it was a great time to start a company. Now, during the bust, VCs keep saying now is a great time to start a company. The VC said “the fact is the best time to start a company is when the entrepreneur is ready.” It has very little to do with market conditions – but on the conditions of the folks building the company. The Washington Post has an article looking at whether or not people are starting companies now, and found that many are – but perhaps for different reasons than folks from a few years ago. Now, people are starting companies because they’re out of work and they think chances are better that they’ll succeed building a new company than they will searching for a new job. Maybe we should start calling these folks entrepreneurs-by-necessity, rather than entrepreneurs-by-choice.

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