Growing up my family saw some rough times. We were living in a small city when the local economy collapsed, and my Dad was out of a job. So, he took the last bit of money he had, bought a trailer, put a hitch on the car, and started a small landscaping company.

Less than six months later, we moved from the smallest house my family had ever lived in, and into the largest house we ever lived in; in a down economy no less.

I don't know that my father ought to be considered a "serial entrepreneur" as he was never trying to get rich -- only to provide for us, but he did similar things on several occasions whenever push came to shove. More importantly no matter the job climate, he always either found or created enough work for himself to support the rest of us.

The lesson I take from this is: when your job sucks or even outright ceases to exist, if the job market is bone dry and the economy is in decline, it might really be the best time to create your own business. (And,.. you'll never know unless you try.)