Business Quote by Whitney Johnson

““In late 2008, one of my business partners, Clayton Christensen offered his opinion that the recession would have an “unmitigated positive impact on innovation” because “when the tension is greatest and resources are most limited, people are actually a lot more open to rethinking the fundamental way they do business.” This theory is supported by the Kaufmann Foundation statistic that “51 percent of the Fortune 500 companies began during a recession or bear market or both.” Whether launching a business or pursuing a dream, there are many high-profile instances in which a lack of resources ultimately proved to be a boon, rather than a bane. If we dig a bit, each of us can uncover examples among friends and family, and ourselves. Would most children have as many opportunities as they do in sports, music, or other extracurricular activities without parents, mothers in particular, who are accomplished at bartering as a way to stretch limited family budgets? Would kids have as many chances to explore their interests if their parents weren’t so adept at arranging for carpooling, chaperoning, and borrowing, thus enabling their kids to participate? Without the constraints of time, money, and health, would the online retailer Shabby Apple exist? (For a reminder of how that business came to be, see chapter 5.) If my parents could have paid for college, would I have caught an early glimpse of corporate life during the Silicon Valley heyday? Would I have ever set foot on Wall Street had I not needed to work to put my husband through school? All of us have had the opportunity to bootstrap if we look hard enough. Men seem to know how to do this in the business world: 88 percent of the founders of Entrepreneur magazine’s Hot 500 were men. But I wonder if women aren’t better at bootstrapping than we think we are. Chronically under resourced (whether due to the gender pay gap or ceding our resources to conform to societal expectations), women continually feel the tension of having too little budget and too little time. Because of this tension, we are expert at rethinking how to get things done. Many of us know how to turn scarcity into opportunity.””

— Whitney Johnson