Invest during a recession - the message from Sir James Dyson
Tuesday, March 18, 2008
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An interesting two-minute clip from the excellent Jeff Randall Live on Sky News today. Sir James Dyson reflects on the lessons he learned when he set up Dyson right in the middle of the last UK recession.
Click here to launch the clip in your browser.
I picked up the following points from the brief discussion:
Dyson started his business in the last recession - not the ideal time!
In a downturn, customers look for good value, not necessarily things that are cheap
A downturn is a good time to invest in R&D, it is not a time to cut back on investment
Some of the best investments made by entrepreneurs are made during the “darkest hour”
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