Is now a good time to start a business?

Larson: A lot of people would say no. I'm not one of those people. My mantra is it's always a good time to do something you love and are passionate about. I believe that starting a business needs to be a thoughtful decision. You're justified if you have an idea that no one has done before and it has relevance or you can do something better than everyone else is doing it. If you can say yes to one of those two things then it is a good time to start a business.

Can you share the best piece of advice you received on starting a business?

Larson: The best piece of advice I ever received was from the woman that bought my stationery company: Know what you do and do it really, really well. It's so important that you know what your core is and you stick to that.

My second one is to not be afraid. It means a lot of different things -- don't be afraid of change, of what's coming up next, be willing to try and experience and understand that not every outcome is what you anticipated and that's ok. Really successful businesses are built on agility and change when necessary.

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

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