17 Sep Capitalize on Decay
There are lessons to be learned as you consider your start-up business and ways to build your dream enterprise on foundations that seem to be decaying.
This September, PBS’ Frontline featured Dayton, Ohio – a once thriving Rust Belt city that has now fallen on hard times and where 35 percent of the population now live in poverty.
Turkish immigrants are snatching up distressed properties, some for as low as $2,000, and revitalizing whole neighborhoods.
A Chinese entrepreneur has reopened an abandoned GM factory to manufacture auto glass, paying his workers approximately $12 per hour, workers who had formerly earned much more.
In West Dayton, the residents, unable to get financing, have formed a co-operative to underwrite the cost of a much needed supermarket in their neighborhood.
Corrugated cardboard, whose employees earn about $12 per hour, have trouble finding employees due to the opioid epidemic.
What is the bottom line in all of this as you seek to launch your business?
- While people are fleeing a situation, there are good deals to be made if you have the vision and mental fortitude to embrace the risk and exploit it.
- You must keep your expenses low so that when the financial winds change, you are able to survive.
- Sometimes you must become creative to obtain financing for your project because without money dreams do not become reality.
- Drug abuse is a brutal reality in our society, and you must find ways to deal with it or your business will not survive.