Suze Orman on Entrepreneurship

I have watched Suze Orman’s TV show on and off over the last several years as she gives financial advice to her large audience of viewers and listeners.  She has always struck me as someone who gives pretty conservative advice regarding people’s finances.  To a typical caller she usually recommends reducing debt and investing a portion of their income  into mutual funds through their companies 401k plan.  I have not heard her give people the advice to start a new business as a way to plan for retirement…until now.

In an article featuring her in the May 2009 issue of Success magazine,  Suze Orman now says this could be a great time to start a small business given the state of the economy and skyrocketing unemployment rates.  Here is what she had to say on the subject:

“A home-based business is an incredible way-without risking any money so to speak-to see what hidden communication talents may be uncovered that could create an independent income stream. When starting a business where capital infusion is necessary to keep it running, an ongoing stream of money is vital.  It is an absolute necessity to have a firm grip on reality.  One needs a true understanding of the cash flow necessities, as well as the profit and loss statements based on worst case scenarios and, to be honest, the viability of the venture. Talent alone is not the key to success.  Talent, money, realistic projections, not getting caught up in the hopes and dreams of what can be, but staying grounded in the reality it takes to get where you want to go, are the keys to success as an entrepreneur.”

As network marketer’s we have known for quite some time that a down economy has historically been good for our industry.  Now that a huge name in the financial advice giving world is promoting the industry it not only verifies and validates what we do but also will further the boon we are experiencing.  Those that are on the sidelines or even thinking about starting a home based business should be flocking to the game in droves after hearing a big time guru give this advice.  Be ready!