I have a friend who is working on starting a business with regards to selling clothes/uniforms.
A good strategy is for your friend to wait and conserve cash and take no action until A LOT of blood and bodies are seen in the street (at the darkest bottom of this economic depression). We’ll guess that is twelve to eighteen months away.
At the very bottom tell your friend to pick over the carcasses of bankrupt businesses and buy all the pieces to start the business, buying at say 90% discount sale prices. You birth your businesss out of that and grow it as the economy expands out of the bottom of the economic depression. That’s a recipe to get rich (assuming a good business model)
Now, after you explain that to your friend, and if your friend STILL thinks now is a good time to start a business, you should advise your friend: “Pick another field! You suck at business decisions.”
