GoFaxer Blog

It was announced yesterday that Bear Stears got sold to JPMorgan Chase for a rock bottom price. All other banking institutions are a little bit concerned, to put it mildly. If it could happen to a company like Bear Stearns, it could happen to almost anyone.

The entire move was facilitated by the Fed, along with a new startling announcement: The Fed will be lending directly to security dealers, something that hasn’t been done since the 1930s.

Although I don’t think anyone really believes that this will be as bad as the Great Depression, which stands as the monoliths of financial disasters, many economists are speculating that we’re in for a world of hurt. In other words, this may not just be a recession. It could be a really bad recession.

So what do new entrepreneurs do in the face of almost inevitable financial hardships. Well, for one thing, your business concept better be solid. And it also better not be relying on consumers having a lot of extra cash.

It also means that you’re going to have to be super smart with your money. You will most certainly need to take advantage of smart technologies like email fax. You will have to watch your costs like a hawk.

But in the end, we don’t want to panic, because that’s the very thing that will make it worse. We must move forward cautiously, but still move forward.