I told one of my employees that I think the recession may get worse before the end of the year, and she responded by asking whether she'd be fired. I explained that tough times cultivate millionaires, and that now's the time to develop more ideas, expand the business and work harder than we have before. Ninety-eight percent of success is identifying an opportunity, and I'm ready to pursue some new adventures.

She didn't understand what I meant. How could bad times equate to good times, much less amount to "millionaire status?" I reminded her that the first rule of business is to choose your battles. Never give up, but choose wisely. Again confused, she wondered where I was going with this convoluted strategy.

Finding opportunity in this strained economic environment takes courage. Although I tend to be impulsive, I preach practicality when advising others. That means you'll proceed with caution, scrutinize everything that should be investigated and plan, plan, plan. Of course, you might have no money for a startup. In that case, you'll take a different, more structured approach. With the right idea and proper motivation, you can open your doors on a shoestring. However, you have to believe in yourself and the concept. Let no one tell you failure is in your future.

Does your concept require renting a retail or wholesale space? Great. You can negotiate your way into any number of leases or purchase arrangements now that the market is flooded with vacant space. Better yet, use that extra guest room for a humble office that allows you at least to launch the concept, then gradually build it into a larger success. When the business grows, you'll simply change your address and print new business cards.

Can you afford employees? Absolutely. There's an immense amount of unemployed talent out there. These individuals would be thrilled to be part of a promising startup. You couldn't get that kind of motivation and inspiration at an affordable price in the employment market three years ago. Take advantage of it now.

Can't afford office furniture? Auction houses are filled with items being sold for a fraction of their value. Craigslist offers free items and items for trade or at a substantially reduced price. Your plan can come to fruition if it's your time to proceed. No matter what you do, you'll need some funding, but careful calculations can give you the jump-start to begin with a relatively low monetary commitment.

What kind of business are you going to start? Is it a service people need or something individuals want? Need and want will make the difference between success and failure when times are tough economically. You might be surprised by what does succeed in this economy. Luxury items might give you a real business advantage.

One of my consulting clients wanted to start a day-care service and asked my opinion. She went into detail, paused and said, "That won't work. No one wants to pay for day care now. It's a bad market."

But wait. I cautioned her to think about the idea before giving up. Families need income, and more women are returning to the work force after having children. Day care is not a luxury but a critical service for many families. As times change, you should modify your entrepreneurial ideas based on the decline and evolution of the economy.

For example, I spoke to a neighbor of mine who returned to work last month. The things she used to do now require assistance from others. When she was a stay-at-home mom, she'd bring her children with her on errands, shopping and other local excursions. She now uses day care, after-school child care and doggie day care along with errand services and packaging franchises to mail gifts for family members' birthdays and holidays.

I asked about the economics of the arrangement. She explained that she now spends more, but she also makes more than she did as a stay-at-home mom. Is she happier? No, not really, but she's doing what she has to do to make ends meet.

During our conversation, she admitted that she's rarely able to take time off work and would pay dearly for someone to take her kids to the dentist, the dog to the vet and to get her car registration completed. After all, it's a 9-to-5 world.

She misses the time she used to have with her family. There's no price on time, she explained. She reminded me that we shouldn't sweat the small stuff. Some of the best ideas are the simplest. It sounds as though I'm oversimplifying, but once you've started a few businesses, the process gets easier--and the ideas are more difficult to come by.

Look carefully at what's out there. A unique idea is still a unique idea. The message here is that we still need to do things, buy things and go places. There's no reason you can't be the best solution for the people who need it. Don't give up on your dreams.