Well… I was wrong. I talk about the recent events and how to make your online business withstand the upcoming recession. Like this video for some Deadbeat mojo!
So we’ll talk about several things:
How to maintain an optimistic mindset by cutting off the news.
The news puts you into a fear based mindset with all the talk about crisis and apocalyptic predictions.
Double down on your discipline
An online business owner must possess super-human discipline, but in these times it’s even more important. Most people will be seeking comfort, but if you have the courage to double down on discipline you can dig your way out much faster. Focus on things like sleep optimization, nutrition, health, time management, etc.
Consider avoiding making investment decisions right now until we see things starting to improvement. With that said, I have been investing about 5% of my net worth in stocks like Disney, Berkshire Hathaway, and Coke. This is of course not investment advice, so invest at your own risk.
However, increase investment into yourself, your own business. Consider investing more into people – labor prices are going to be cheap right now and probably for the foreseeable future. People have time on their hands, and are willing to work cheap right now. It’s very easy to find providers on upwork right now.
Create lean online businesses right now. There are products people will be buying during this recession. A lot of things like hobbies, LEGOs on Amazon, home workouts, start home business, digital courses. All of these are going to thrive in this environment.
Consider lower priced products, providing products at a discount during rough times.
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How can you get started or improve at this?So I was totally wrong in my last video so this is going to be the topic of the century people are gonna be talking about this probably a hundred years from now so if you’ve seen the leaked government reports they are suggesting that this may last up to 18 months and that is crazy insane and what I want to talk about today is how to weather the upcoming economic storm the impending doom okay so if you have it all my business you’re gonna have to make some shifts we’re gonna talk about that here today to really roll with the punches so to speak now my opinion is no matter what business that you get in over the next year I think that very few businesses are going to be able to escape the downturn but with that said if you go in the right do the right things I think you can not only survive but thrive come out better than when you went in stronger faster and smarter so my name is Sam brach the deadbeat a super affiliate make sure you hit that subscribe button right now so here are the things that I’ve learned to do when businesses go bad when things turn sour now during the last downturn 2008 I actually did really well so first things first you have to really protect your mind this is the most important thing and everything I have offer you here in this video turn off the news okay turn off the news over the last 10 days I’ve noticed I’ve been waking up and buying into the whole thing like oh what’s going on what’s going on going into Yahoo News Google and whenever I do that I just start to freak out I wouldn’t bought a shot a semi-automatic shotgun because of this all right I even had that idea like maybe I should get a storage freezer just in case the world ends I’m gonna have some chicken and some eggs to survive with you know of course they do that but these are the thoughts that come into your mind when you see nothing but negative things that suggest the world is going to come to an end so it’s like I gotta suck up I gotta prepare and when you’re in that mindset right you’re not gonna do anything you will do nothing productive and more on that in just a second now once the news is gone we’re going to go on to tip number two and that is cut off or eliminate any non-essential bills okay go into your personal credit card right now make this your homework matter of fact I’m giving you homework alright so pick one thing today that you can cancel and your personal in your personal account there’s got to be something for me I had like an audio book thing going was like 15 bucks a month I had like three or four credits built up so I was like I’m gonna cancel it worry about that later now you’d be surprised what canceling just one thing can do for your positive outlook on life because that’ll start motivate you to find other things that you can trim out that you don’t need to do so write this on a piece of paper right now close one thing that I don’t need all right you’ll thank yourself later and this leads me into tip number three and that is to double down on your disciplines okay this is why I’ve been able to weather storms this is why I am well prepared over the next year or so to really take action when most people are scared because I’ve been ready for this I’ve been making myself ready for this downturn over the last I’d say three to four years or more so things you got to focus on are doubling down on your financial discipline double down on your nutrition your sleep your the things you listen to they start listening the positive mindset oriented things on YouTube just type in motivation speeches in my opinion this is the time where this matters most all right you should be doing it during normal normal times but now it’s even more important and more importantly avoid the temptation of being lazy and doing nothing okay I believe what’s gonna happen right now is people are used to staying home and they’re used to not working as hard as they normally have people’s work ethics are going to decline now there is a time to be lazy I’m the world’s laziest online super affiliate I mean I shouldn’t even be preaching about this but I’m gonna talk about anyway I’ve learned when it is time to buckle down and when it’s time to be lazy right now is the time to buckle down so over the next year or so this is where you have to really develop that work ethic most people are going to be getting soft now what that means is when it’s time to when this time it’s time for everyone to shoot out of this thing you were gonna be way far ahead of them and that will give you a massive massive competitive over everybody now tip number four or five is get yourself a nice new robe because you’re gonna be seeing a lot more of it while we are all stuck at home so I got me a new one look at Oh looking good and the next tip is to consider holding back on investing in things like stock and real estate for the time being now I should listen to my own advice over the last week or so I put about five percent of my net worth into various companies like Berkshire Hathaway coca-cola Disney I even took a little bit of a risk and went for some Carnival Cruise Line stock but I’m not a financial advisor so do that at your own risk these are just the things that I like okay so the idea is you want to buy companies on the cheap now that is arguable right now just because there’s a drop in price doesn’t mean it’s a good deal right now but but what I’m going to be doing is now kind of taking an easy on the investments if I feel like I’ve put enough in at this time so that if when it does rebound if I miss the you know you’re not supposed to time the market anyway but if I miss that bottom I’m still feel like you know I did what I said I would do and that is to be aggressive in times of fear but with that said I recommend you take caution over the next week or two we don’t really know which direction this thing is going to go it could be getting better it could be getting worse I thinking about the next two year two weeks we’ll find out for sure but take that with a grain of salt because I was so wrong in the last…