Starting a Business in a Bad Economy - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Starting a Business in a Bad Economy


At Jam'n 94.5, he's known as Crazy Kulo. Santi Deoleo, 31, is the Executive Producer of the Ramiro and Pebbles morning show. Santi has come a long way from his days as an unpaid intern, and now he's trying to find success with his other passion--fashion.

"I remember being in 4th grade and buying my first pair of Jordan's. I fell in love then," Deoleo says.

About a year and a half ago, Deoleo launched a clothing line called Modus Collection, which includes men's and women's T-shirts, tanks and hoodies in a style he describes as urban sophisticated. Deoleo realizes it's a gamble and he's reminded of it everyday.

Spending money is tight. Americans cite unemployment as the nation's number one problem, and some fear a double dip recession. It sounds like a recipe for disaster for entrepreneurs, but it doesn't have to be. In fact, 16 of the 30 companies whose stocks make up the Dow were started during recessions; including G.E., Microsoft, FedEx and Disney.

"In a down economy, we're having lots of problems, and whenever there are lots of problems, there are going to be lots of opportunities, and if you're willing to look at the world in a different way, I think you're going to see business opportunities that others aren't seeing," says Heidi Neck, an associate professor of entrepreneurship at Babson College in Wellesley.

Neck says it's all about hard work, and you can't expect to make a killing right out of the gate, but a recession could be what your business needs to become successful.

"It takes about two to three years to really get traction, so lets just say hoping that the economy is going to get out of where it's at in the next two to three years, your business is going to be at that level where you're poised for growth, so you already have that two to three years behind you, yet you're at a better level than some of your competition, that may be waiting to start in two to three years," Neck says.

Lance Reensierna is one of three partners in Boston-based Baker Street Productions, a company which specializes in media for live events. During the last decade, he spent building up the company he also held another full-time job with an event planning company when he recently left that job to focus all of his energy on Baker Street he felt prepared.

"Just taking a few dollars off each paycheck and just putting it in so when the day comes when I quit my job, I could at least pay my rent," Reensierna says. He also made numerous business connections while working for someone else.

Success is certainly not guaranteed, but if you have a good plan and the determination to see it through, a stalled economy shouldn't stall you from trying to make your dreams of success come true.

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