Getting Through Hard Times: Form Your Own Cpa Business

Getting Through Hard Times: Form Your Own Cpa Business

By:




The economy is still bad, and workers are hurting with it. These Days pretty much everybody knows what a "double-dip" recession is. The stock marketis hitting more summits and valleys than the Sierra Nevada. The housing marketcontinues to tumble. Lastly the unemployment rate is hovering at almost 10%.

Is it time to surrender and stock up on ammunition and canned food?

I wouldn't recommend it. In a time of deep economic instability, you should hang out a shingle.

That could surprise you but historically you'll see that many companies are created during the most troubled times.

Businesses established during hard times include Apple, Walt Disney, and Microsoft.

CPA's are unusually qualified to take advantage of a hard economic environment.

An accounting company can easily be set up as a home based business with a minimum initial investment. Scores of staff accountants have been laid off as businesses tighten their belts and resolve to get by with less. With such a large percentage of the population needing jobs, the unemployed have a unique chance to cart out their old business plan and give them another stab. Can you think of a better come-uppance on an old company than to start a successful business and take over the market?

It wont be easy easy. Starting a new business never is. However the right idea might just work at the right time. Because companies tend to lock down during a recession start-ups get a real chance to succeed. They can take advantage of:

* Inexpensive real estate

* A huge supply of available talent

* Weakened competition

Accountants with an even slightly entrepreneurial mindset should look at the existing environment and figure out the underserved segments of the population. The more you can carve out a niche, the better your chances of standing out from the competition.

Think creatively. It may be easier to tap a small specialized segment of an existing market than it will be to go head to head with an established competitor. Keep this in mind when examining your market. Are there any sub-populations in your community that you could tap into? Construction? Car dealers? Bar owners?

Bob Parsons, founder and CEO of GoDaddy, definitely sees opportunity in the current economic environment. In his words, "When the economy is in a recession, I think that's the best time (to start a business). The reason? Your efforts will stand out."

So is it a good time to start a business?

No. It's a GREAT time.

About the Author:
Brian O'Connell is the CEO and founder of CPA Site Solutions, one of the country's biggest website design firms dedicated solely to CPA website design. His company at present provides websites for more than 4000 CPA, accounting, bookkeeping, and tax preparation firms.



Article Originally Published On: http://www.articlesnatch.com


Tags: , , , ,

|

Loading...
Related....
Videos...

Recent Marketing Articles

Comments

Still can't find what you are looking for? Search for it!

Loading

Site Navigation:

Copyright 2005-2011 ArticleSnatch, LLC - All Rights Reserved.
Privacy Policy | Terms of Service.