When Internet businesses can no longer afford PPC Google Adverting, that industry has become ironically crowded, and you're going to find yourself drowned in expenses with no branding traction.
Also, Internet competitors never really go away, and they all have tremendously well programmed websites. Most Internet companies that have SEO real estate are not going anywhere. SEO real estate is forever, nobody just walks away from it, and you can only take up 10% - 20% of the front page of various Google results.
Are you starting this business for right now or for years from now?
A start-up is not like buying a U.S. Treasury bond. If you sit around waiting for certain economic conditions to happen before your idea can be really viable, you will go broke staring at your stopwatch.
Businesses have to be set up with a sense of urgency. You need to focus on businesses that you can somehow monetize right now. It's too risky to base your company's success on external economic conditions.
If you want, have a suite of products just like a hedge fund manager would have a portfolio of stocks, etc. World leaders have teams of the brightest, most educated economic advisors and still these individuals can't predict what is going to happen.
After the economic hardship our country (and the majority of the world) has been through, it's even more naive and egotistical to think that you have a particular market pinpointed at a future date in time.
Diversify and offer some services that may be low-hanging fruit until your economic prediction comes true. If you're an entrepreneur, you can think of something.
Looking back ten years from now, will young entrepreneurs heed the above advice regarding sticking only to the necessities that can be monetized ASAP? Or will they see mirages of success in starting high-risk, high-reward cyclical business after the Great Recession?
After all, it was less than a year and a half ago when CNN Money's Chris Isidore came out with the special report:
"The Great Recession: Economists generally agree this is the worst economic downturn since the Great Depression, but they say despite pain, another depression isn't likely."
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