Did you know that half of the companies in the Fortune 500 were started in a bear market? Throughout history, entrepreneurs have taken advantage of the slow economy. They have found opportunities and gaps in the market, and used those to thrive during the economic downturn.
Here’s a list of just some of the companies started during a major economic crisis:
- Fortune Magazine
- FedEx
- UPS
- Walt Disney Company
- Hewlett-Packard
- Charles Schwab
- Standard Oil
- Coors
- Costco
- Revlon
- General Motors
- Proctor & Gamble
- United Airlines
- Microsoft
Taking Advantage of a Downturn
No one wants to see bear markets popping up, but it often has a positive impact on the economy in the long run. Profit margins and leveraged debt grow beyond sustainability, and the downturn gives companies time to reevaluate and prepare for future growth.
The future growth; however, does not mean the bear market is beneficial at present. Economic downturns are difficult. Companies close and employees are laid off. People struggle to make ends meet and often need to find new ways to bring in money. For skilled workers with some free time on their hands, they take advantage of the downturn, creating companies like those above.
In every circumstance or situation – there is an opportunity. The people that started these companies did not focus on being the economic monsters of the era. The people that started those companies focused on that opportunity, lived in the moment and built an empire.
Are you living in the moment? Is your Team living in the moment or are they hunkered down trying to wait out this economic storm?
If you are looking for ways to thrive during the downturn and create positive change in your organization, we can get you pointed in the right direction. CLICK HERE to get started!
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