Binh H. Nguyen 11:30 a.m., June 30
- Community Blog
- Craft beer and Entrepreneurs
Recession, What Recession...?
“Be courageous. I have seen many depressions in business. Always America has emerged from these stronger and more prosperous. Be brave as your fathers before you. Have faith! Go forward!” ~Thomas A. Edison
If we are to believe the newspapers, it's all doom and gloom. Nowadays, seems like all we read and hear is the big recession we are experiencing, and with the lack of jobs available, what are we to do? Well, it is not as it seems. Here in our hometown of Vista, there are new business's opening up every month. For example, the brewery industry is doing very well with over 10 breweries in operation and several more along the way. If we study the dynamics of recessions such as this present one we're experiencing, we notice the positive effects of such a market correction. For instance, there is quite an amount of help available, and this is what we should focus on. It is prime time to start business in times such as these, for when the market comes back- and it inevitably does, the company will be ahead of those who don’t start at all.
Building a company from scratch is easier now that people are more willing to work and help each other. Working harder and more diligently now, will ensure success in the years to come. Only in the last few years have we seen the incredible growth of breweries such as Mother Earth, Iron Fist, Aztec, to name but a few, all in the middle of a recession. With the corporate product prices not reflecting current income, this is a great time to form relationships and work harder within our communities. And not just the beer business is doing well, service related industries such as auto mechanics, web development, and chocolate makers are doing brisk business too. Because of the lack of jobs, artisans in general are more prevalent nowadays, forcing us to resort to older trades and therefore creating more entrepreneurs. The upside to the lack of jobs? There are many more qualified people available to lend a hand.
In a strong market, college graduates have the leeway to pick and choose their employment and who is offering the best salary, but not so in a recession. Qualified help is the key to any successful start up, and this is prime time to make optimum use of it. In our local breweries we see business grads, biology and chemistry majors, marketing and advertising professionals all eager to provide a helping hand, and not at the old market rate salary. In times such as these we are more willing to negotiate a favorable position, maybe even a volunteer or intern status such as what we are seeing in the brewery business. Working harder now as an intern or a volunteer with a company which is upwardly mobile can build more than a slap on the back, it garners reputation in the industry of choice, a strong resume, and in some cases, if negotiated well, a piece of the proverbial pie in the form of sweat equity.
Markets always come around after the correction, and this will happen with this present cycle also. And it is in this time frame, companies who will spend considerable time and energy working in and on their business's, will benefit when the economy has rebounded, and when the recession is over, it will be that much harder to not only start business, but to catch up to companies who are already firmly established with their customer base and quality help in place. It will be more expensive to hire someone in a thriving marketplace at whatever salaries they may command, if there is any help available at all. Looking forward into the next few years and building industry now, will reap countless benefits, the trick is we have to work harder than those around us, but it will pay off in the long run.
Here in North County, San Diego we can see how rapidly our local breweries are growing with the help of volunteers who just want to be involved. We can apply these same techniques to any ideas about business we might have. There is no better time to initiate and nurture business as there is now, with the plethora of qualified help eager to find any work, it is an employers dream. Companies such as General Electric and Coca Cola were products of the great depression in the early part of this century. They got ahead by forming long lasting relationships and became successful whilst their competitors were complacent. Our young country has seen quite an amount of hardship. However, seeing the opportunities therein, and forging through these temporary setbacks with a firm resolve and persistence, we can help our fellow villagers to reach fruition, and ultimately, to success.~Timothy Clacton