subject: Stimulating the economy with what's in your "house" [print this page] Stimulating the economy with what's in your "house"
You may ask: How can I stimulate the economy with what's in my house? Well countries all over the world, the USA included, are beginning to recognize the importance of entrepreneurship to economic growth. In fact research carried out by the Kauffman Foundation indicates that most job creation in economies comes, not primarily from older well-established companies, but from young entrepreneurial businesses.
So what do you have in your house that can help stimulate the economy? I don't mean literally, although you can probably stimulate your pockets by turning some of the unused stuff in your house into revenue. I mean what skills do you have? What gifts or abilities? What innovative ideas do you have that just need to be birthed and turned into a new business? The Obama administration, recognizing the importance of entrepreneurship to the economy, recently made several initiatives to help stimulate entrepreneurial activity. Among them was the passing of the Small Business Jobs Act of 2010 that provides tax incentives and tax relief to make it easier for entrepreneurs and small business owners to expand and hire. In his Presidential proclamation for National Entrepreneurship Week, President Obama stated that his administration has developed a national innovation strategy with an emphasis on entrepreneurship to act as a catalyst for new industries, new businesses and new jobs.
You may think that with the economy still trying to emerge from the recession, this is a bad time to start a business. Not true! Now is the perfect time. This is a season of opportunity. Many major companies today such as Starbucks, Intuit and PetSmart, started up during a recession and more than half of the Fortune 500 companies were founded during a recession or bear market. In fact opportunities abound now more than ever with consumers looking for cheaper alternatives, smaller packaging, more convenience, faster delivery etc. For example, where I live, like everywhere else I suppose, consumers are increasingly using drive-through restaurants and drive-through banking facilities because of their convenience. Yet so far there is no drive-through convenience store. Many days when I just need a few things like bread, juice and milk, the thought of parking and going into a supermarket or even a convenience store and standing in a line is enough to make me groan! I would love to be able to just pull into a drive-through convenience store and get what I need without getting out of my car. Better yet, be able to e-mail or text ahead and have it ready. So what am I doing about it? I'm working on the Business Plan now!
Another example is about my car; it really needs a thorough cleaning. However the thought of having to leave it for a valet service and find a car to use for the day or worse yet, sitting and waiting for it to be cleaned is not very appealing. So I was thrilled when I heard that there is an enterprising young business which will send people to your house or office to clean your car while you get on with whatever you're doing. This value added service is easy and so convenient. I hope someone is noting these ideas.
The best ideas are often birthed from things that you find inconvenient and or from problems you hear customers complaining about. So what do you have in your "house"? What ideas can you come up with to make someone's life easier? You may be sitting on the next brilliant idea that can help to stimulate the economy. You just need to bring it to market. Now is the time!
