This week’s question from our portal “Ask Us Anything” comes from Tim.
It seems there’s possibly a recession coming. Should we prepare for this?
Not possibly—definitely. There’s definitely a recession coming.
The economy moves in cycles. It always goes up and down, and it’s based on about 10-year intervals. This is the law of rhythm.
We’re going to have a crash; there’s no question about it. The question is, WHEN will we have a crash?
You should prepare for a recession. The best way to prepare is to start thinking about:
How would a recession affect your personal marketplace?
When I say “prepare,” I mean think strategically so that you can respond in a great way, not by tightening everything down.
I can’t emphasize how much money there is to be made in a down cycle.
Our company has always done fantastic in a down cycle. But it doesn’t happen by accident. It doesn’t happen by buying into everybody’s lack mentality when it happens.
You’ve got to pull yourself out of lack thinking, because people will always be talking like the world’s going to end. They do it every time there’s a recession.
Pull yourself out of that mentality and don’t go down that road.
Instead, ask yourself, “How do I do great business during this time?”