Interesting history lesson in a short Inc.com post:
William Wrigley, Jr. arrived in Chicago in 1891 with just $32 to his name. The 29-year-old entrepreneur began manufacturing soap, first enticing customers by offering free baking soda with every purchase. He later tried offering customers free chewing gum. The gum soon became more popular – and profitable – than his soap venture. Like many of the famous companies which have sprung up during recessions, Wrigley sold inexpensive goods that could be easily mass produced. Now, I’m not saying that chewing gum actually served as a distraction from the strife of the times, but what kind of startup do you think fairs particularly well during a recession? Do consumers need distraction during downturns? If you have a great business idea, does it even matter when you launch your business?