I know, I know. I promise it's not a clickbait title. Like you, I have no idea if a recession is coming. What I do know is that most people only do half of what's required in preparation. Hear me out...
New Podcast Episode
Watch the news or scroll through Twitter, it seems that private unicorns and public markets are crashing. Valuations are starting to drop, layoffs seem to be happening daily... you get the idea. 👀
But, as always, there's opportunity in all this...
Stock options at last year's unicorns aren't worth much anymore... and founders may finally be able to woo that key hire that was unaffordable just a year ago.
Also, QR codes caught me by surprise. I asked Ed about it...
Most people know enough about preparing financially when tough times might be ahead. There's already enough content out there, I won't pile on. But, when times might get tough, most people don't think enough about expanding reach.
Let's say you expect your customer's spend might decrease 20% at some point in the future. What are you doing now to reach at least 20% more customers?
Or, let's say you expect your company to announce layoffs at some point in the future. What are you doing now to build your own audience?
These are overly simplistic examples but hopefully they make it easier to understand. Whatever your situation is currently, there's no excuse to be caught off guard over the next few months.
Best case, you've built a safety net that didn't get used. Worst case, you're able to use a safety net that few others considered to build in advance. 🏆
That's it for today, have a great weekend. As always, hit reply -- I read every response. 👋🏻