I got this list from the Kaufmann Foundation. These are all companies that started up during a recession or down stock market. They’re in alphabetical order.
| 3M Adobe Systems Amgen Apple Bath and Body Works BET Broadcom Buffalo Wild Wings CNN Chevron Dave and Buster’s Disney Electronic Arts Enterprise Rent-A-Car Exxon Mobil FedEx Gallup Genentech General Electric Genzyme Guess Hyatt IBM Johnson & Johnson Kraft The Learning Company Lotus Software Merck Microsoft O’Reilly Auto Parts Pizza Hut Princeton Review QuikTrip Quiznos Scottrade Southwest Airlines United Technologies Urban Outfitters Valero Whole Foods |
If you look closely, you’ll see some that started during the Great Depression, some during different recessions that followed. There are several generations of startups here. What I like about this list is that these are companies that lasted. They didn’t fail to start because times were hard. They may have had a harder time getting financing or slower initial sales than they might have had during a boom. But they still started up, and they made it.
If you’re trying to start a company today, or struggling with a recent startup, companies are still making it. I posted last week about the Trunk Club dealing with rapid growth despite the crash. The blog startupmeme lists several new startups a week; sometimes several new startups a day. Focus on value: giving people something they want or need and can pay for. If you can’t get funded, that doesn’t mean you can’t necessarily start that business. Just review your plan, focus it tighter if you have to, and think about bootstrapping. |
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{ 2 comments… read them below or add one }
My thought is that in down times, people actually have to answer a need or a question, which brings about a better business. In good times, people are looking to make more money and don’t always answer a need.
Can’t wait to see the list from this down time in about 5 years!
I believe that starting a business in down times can have some positive attributes. It forces one to be very disiplined fiscally, search for alt. resources, and be very creative.