Success in the Face of Adversity – How Bad Times Create Great Companies

By Florence Adrian 24th Nov, 2020

Yes, the world IS in crisis. But, there are much better things you can do than panic about it. Take control of your life, remember what your dream is, and work to make it happen. Read about how bad times create great companies and learn to be successful in the face of adversity. 

Taking Control In The Time of Crisis

We all remember when the housing market collapsed in 2008 and the panic it caused. But some people saw it as an opportunity and started buying properties while most of us were freaking out. The people who jump at these types of chances are the people who succeed the most. They don’t let the outside determine their situation because they are not betting on the world. They are betting on themselves. 

A crisis like this one can be an opportunity for you as an entrepreneur to move forward with your vision and build a legacy for life. As we are all working from home, you have the extra time to do the research you need to start taking steps to make your dream become reality. It’s a good time to take advantage of a really bad situation because the economy is not going to stay like this for a year. 

If you are fortunate enough to have something that is going to be in demand as the environment changes, you should work even harder. Use your internet connection well. Do some research, look up your competitors, and see what is already out there.

“The people who take an opportunity when everybody is worried about risk are the first people that are ready when the pendulum starts moving in that opposite direction. You need time to prepare whatever your vision is, whatever your dream is.” – Fred Cary

Success In The Time of Adversity

Companies have always done that. A lot of companies that are now household names started in very bad economic times and made strategic decisions that helped them come out on top. One-third of the hundred most desirable companies in the world started during recessions, depressions, or other types of catastrophic events. Disney, Microsoft, Apple, HP, Groupon, and Electronic Arts all started in the time of adversity. Google went through the whole dot.com bust at the very beginning and worked its way out of it. 

“The people who are contrarians are the people who change the world.” – Fred Cary

At IdeaPros, we are working with our partners on two projects that will be very needed even when this is over, as we will all be more focused on cleanliness. One is a product to be used for a safe, clean, tamper-proof, and free of germs delivery. The other one is an app that is going to tell you when, how often, and how long to wash your hands like a timer that will help you create new necessary habits for the future. For our partners and everyone preparing to launch a product or an app, this is a good time to start communicating this to people and find groups to participate in. 

Time to Make a Difference

“As entrepreneurs, we shouldn’t be afraid because these are the times we can make a difference.”  – Fred Cary

Our instinct may be to shut everything down, cut down advertising and development, slow down engineering, and send half of your sales staff home. If all your competitors are hiding, go out and make your presence known. There’s no better time to prepare for success while everybody’s hiding in their bunkers. What you build today can make a difference for a lot of people when we get through this thing. The world hasn’t ended. We’re all buyers and dreamers, so move on. Make this day and every following day the best that you possibly can.

The “Idea Pros” at IdeaPros have the resources, experience, and tools to help you at this step or any step in the entrepreneurial journey.

We partner with entrepreneurs at any stage and who are ready to invest their ideas. Apply for an interview and let’s explore partnering together.

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Want to see the products we have launched?  Check out IdeaPros Launchpad!