Starting a business during a crisis—whether economic, social, or global—may sound risky. But history shows us that some of the world’s most successful companies were born in difficult times.
In fact, launching a business during a downturn can offer unique advantages—if you have the right mindset, strategy, and timing.
Why Start a Business During a Crisis?
It may feel counterintuitive, but here’s why it can actually be a smart move:
- Lower competition: Many people pull back during a crisis, creating space for new entrants.
- Talent availability: Skilled professionals may be seeking freelance work or partnerships.
- Lower costs: Ad rates, office space, and vendor services often become more affordable.
- New problems to solve: Crises create fresh needs, pains, and opportunities.
Smart entrepreneurs don’t ignore challenges—they find opportunities within them.
Step 1: Focus on Solving a Real, Urgent Problem
During a crisis, people are:
- Struggling with new routines
- Cutting unnecessary spending
- Looking for efficient solutions
You need to offer something essential or extremely helpful. Ask:
- What are people struggling with right now?
- What can I do to make life easier, faster, or cheaper?
Example niches that thrive during a crisis:
- Remote work tools or support
- Budget-friendly services
- Mental health and wellness
- Online education
- DIY and home-based hobbies
- Digital transformation for small businesses
Step 2: Start Lean and Agile
Forget the fancy office, branding agency, or big product launch. In a crisis, speed and simplicity win.
- Build a Minimum Viable Product (MVP) quickly
- Use free or low-cost tools
- Validate with a small group before scaling
- Avoid debt—bootstrap if possible
The goal is to get moving without overcommitting.
Step 3: Stay Human in Your Marketing
In times of crisis, tone matters more than ever. Focus on:
- Empathy: Show you understand what your audience is going through
- Honesty: Be clear about what you offer and what you don’t
- Support: Create content that helps before it sells
Example message:
“We know things are tough right now. That’s why we created this tool to help freelancers organize their work and stay on track—without extra cost.”
Step 4: Use Low-Cost, High-Impact Channels
Big ad budgets may not be realistic. Instead, use:
- Organic content (blogging, Instagram, LinkedIn)
- Free or affordable PR (guest posts, podcasts, local media)
- Strategic collaborations with other small businesses
- Email marketing and lead magnets
- Niche Facebook or Reddit communities
You don’t need to be everywhere—just show up consistently where your audience is.
Step 5: Offer Flexible Pricing or Payment Options
People may be more price-sensitive. Help reduce buying resistance by:
- Offering free trials or limited-time discounts
- Creating payment plans
- Bundling services or digital products for more value
- Offering a freemium model with optional upgrades
When people feel like they’re getting real value, they’re more likely to buy—even in tough times.
Step 6: Diversify Your Revenue Early
A crisis can hit one stream of income hard—so don’t rely on just one. Examples:
- A service-based business adds a digital product (e.g., course or template)
- A product business adds a subscription or bulk pricing
- A freelancer builds a small membership community
The more streams you build, the more resilient your business becomes.
Step 7: Network Like Never Before
Crises often create community. Reach out to:
- Other entrepreneurs for joint ventures or support
- Mentors and coaches who’ve survived past downturns
- Online communities and business forums
- Your existing network with a fresh, helpful offer
Helping others during a crisis builds goodwill—and often leads to unexpected opportunities.
Real Companies That Started in a Crisis
- Airbnb (2008): Launched during the financial crisis when people were looking for cheaper travel options.
- Uber (2009): Met the need for more flexible, affordable urban transportation.
- WhatsApp (2009): Built a simple, low-cost way for people to stay connected worldwide.
These companies succeeded by solving urgent, real-world problems in uncertain times.
Step 8: Stay Mentally Strong and Focused
Entrepreneurship is always emotional—but it’s even more intense during a crisis. To stay focused:
- Set realistic, short-term goals
- Limit your consumption of negative news
- Celebrate small wins
- Keep learning and adapting
- Prioritize self-care
Your mindset is your greatest asset.
Final Thoughts: Crisis Is a Launchpad—If You Use It Right
Some of the best opportunities emerge when others are too afraid to act. Starting a business in a crisis isn’t about ignoring the challenges—it’s about adapting to them.
So if you’ve been waiting for the “right time,” consider this:
- The market is changing.
- People need new solutions.
- You don’t need everything figured out—just the courage to begin.
Start small. Stay flexible. Lead with value.
That’s how smart businesses are born—even in a storm.