How to start a business in crisis?

“In a shaky economic scene, the most recommended are problem-solving ventures. Each period itself has specific problems. If nowadays the lending conditions are tougher, a car sharing service for example, in which many persons have the possibility of renting a car, might be a solution, as it is in France”, said Tudor Maxim (photo), founder of Elevate agency, which promotes elevator advertising.

The most recommended businesses in this difficult situation require minimum investments, Maxim being confident in the development of Romanian online market, which is still at the beginning, according to his statements.

“I don’t think the online industry will be affected by the crisis, the online businesses are still at a low level in Romania, there is still room for growth, and one can start a venture with a minimum investment of 1,000 – 2,000 euros”, Maxim added, also giving tips in this purpose:

1. There can be used free platforms to minimize costs (such as blogs);

2. Promotion can be made firstly by comfortable solutions, such as sponsored links, Google Ads, but according to the venture’s target;

3. The desire for traffic and money must not be a priority, but the business’ visibility and gradual growth. “The biggest mistake ever is to think about traffic and money from the very beginning”, said Maxim.

In 2005, Maxim gave up practicing law in order to dedicate himself to developing a new business at that time: elevator advertising, idea with great potential which solves the problem of elevator boredom. Moreover, the target was well positioned, being addressed to the staff working in office buildings, hotels or restaurants.

Translated by Camelia Oancea