Three Keys to Entrepreneurial Success in Recession: Innovation, Innovation, Innovation

Innovation tends to blossom in recessions because smaller and younger companies simply need to adapt the "survival of the fittest" business model. This may sound depressing, but it is not necessarily a bad thing. When companies force themselves to be more innovative, they obviously come up with more original products and more effective marketing strategies. In other words, they are forced to learn lessons about being more efficient which will continue to benefit them long after the recession has ended. It also gives consumers something to be more optimistic about and encourages them to begin rebuilding the economy. This helps explain why it is new entrepreneurially driven organizations rather than large, bureaucratic corporations that help break the economy out of the recession.

This was clearly the case in the Great Depression. Unfortunately, history may not repeat itself that easily. In the Great Depression, the entire nation adopted the same strategy to maximize creativity which eventually helped the nation get out of the calamity. Today, Americans are much more individualized, and if the nation does not work together the cycle may be hard to be broken. While the nation's resistance to change can hinder recovery, it can also benefit entrepreneurs. If other companies do not want to admit that they need to seek more innovative strategies to increase market share or survive, shrewd entrepreneurs can use this to their benefit. Fortunately, innovation is something that can be learned to an extent, both through active research and practice. It is even easier than if you are Matt Cutts trying jespremlkjklkjlkjjkkj