by Willie Parker

Created on: November 24, 2008   Last Updated: June 22, 2009

People will say certain components are important for entrepreneurs to have. Some say these things are cash, access to capital, or other unnecessary things. While these things are indeed helpful when starting a company, every great entrepreneur in our world has been able to overcome not having cash on hand when they came up with their idea.

We are facing a critical time in America's history. It is a time when most businesses are adjusting their expectations, cutting workers, and figuring out ways to stay in business. All of this has happened because of the huge financial risks and stock market crash of 2008. This is a time when truly entrepreneurial people will be able to create something.

Big businesses are losing the American entrepreneurial spirit as they try to minimize losses. They aren't looking forward and pressing on the gas pedal with new ideas, innovation, and new markets, because the markets are a bit flat right now. So big businesses with all their overhead will continue to lose money.

So what is the one component that all entrepreneurs must have?

Vision.

People who currently have a strong vision of a product, service, or just a great idea will be able to develop it now during these tough times. It may come from people who are laid off from jobs and go to work in their garage. It may come from college kids who see wholes in current businesses. But it will come, and it is what will lead us out of this horrendous economic downturn, and bring new life to the American Economy.

Internet billionaire Mark Cuban, who is owner of the Dallas Mavericks, even said that he got his first idea for his big business during a major recession of the US economy. We will be looking for different ideas and businesses to be popping up over the next few years. It is a prime opportunity to take a step back, look at the business world, reanalyze and go back in with fresh ideas. Not to mention, cheap labor and cheap rent due to the housing crisis.

People have long counted out America saying that we will not be able to overcome this depression or recession that we are currently in. However, we are the greediest country on Earth. And that greed is clearly evident by our entrepreneurial spirit and go for it attitude. It is most evident in business here. So the visionaries are the ones who will come out of this era with the best foot forward.

People who have an idea, and a true vision for bringing that idea to market. Thank goodness America cultivates this type of thinking better than any other country in the world.

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