|Becoming an Entrepreneur in Uncertain Times|
|Written by Shawna Ruppert|
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Just like those that rode out the dotcom bust in the early millennium, an entrepreneur has to be resilient, resourceful, and patient during an economic downturn. Typically, when the economy is in crisis, the entrepreneur takes a panicked approach, selling off stocks or simply watching his net worth melt away. However, a completely opposite attitude is necessary to be successful as an entrepreneur or start a business in a tough economy.
A businessperson should examine the effects of a recession or economic downslide to determine where and how wealth can be built. For example, an entrepreneur could invest in homes in or near foreclosure. Not only does this stimulate the economy, it can be profitable for a businessperson and help homeowners avoid negative effects on their credit scores. Taking advantage of uncertain times in ways that can be beneficial for both a business and consumers is the key to success in a subpar economy.
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