dan do you have advice on how to survive
a recession well I'll give you more than
one piece of advice I'll give you three
pieces of advice on how to survive in
recession now if you've been around long
enough you will see that they always go
through different cycles and the
recession guarantee is coming right
especially now we've had crazy growth
curve for such a long time now so how do
you prepare yourself three things first
of all you have to put yourself in a
cash position so you want to accumulate
cash because this is the moment when
when if you have a business maybe things
will slow down or maybe things that used
to work no longer works maybe your
marketing channel works no longer works
in order to get through this period of
time you need cash to survive if you
have a job you need cash right you want
to have staying power if you actually
have excessive cash this is the moment
right the smart smart wealthy people we
buy this is where we take advantage of
these opportunities when everybody else
is they are suffering from recession
this is a way we take advantage of these
opportunities and you'll find a lot of
people they get incredibly wealthy
during this period of time so have a lot
of cash
number two is to have a skill set that
is valuable in the recession or the
product or services that you're offering
it's also valuable than what actually do
better in a recession right I call that
the bartending business and it's a
metaphor it means that when time is good
people go to have a drink when times are
bad people go to have two drinks so it
doesn't matter time is good time is bad
there are certain industries and certain
sectors there will always do well in
fact they do better when the recession
comes example my education business when
if if when the recession
comes when times are tough people are
looking for alternative education that
they know that okay you know what having
that degree that doesn't really help me
I can't even get a job now because
everybody else is downsizing but if I
have a skillset that are not taught in
school I'm able to generate great income
doing that so when times are bad my
education business actually would do
much much better when times are good
people don't think about them people
don't think very far right they don't
know you've got a good job you know it's
fine and I don't have to worry when they
get downsized when then something that
happens when the companies they work for
go out of business now they panic now
they look for solutions so that's the
second thing having a business a skill
that is recession-proof and the third
thing is this is knowing that to survive
in the recession the recession doesn't
last and if you study history
the period of recession actually gets
shorter and shorter and shorter and
shorter so it what it means is if you
have cash if you have a skill set that
gives you staying power all you need to
do is be able to survive through that
period of time and if you look at
history you will not panic as much
because when you're in it you're so
worried and you get so wrapped up into
oh my god how long this is gonna last
you feels like another it's gonna last
forever but if you look back history it
doesn't last forever
but within that period of time some
people will suffer they would struggle
it's always like this and some people
will thrive and prosper during recession
it's always a choice it is a decision it
is preparation that we need to make do
you want to be crushed by the recession
or do you want to take advantage of the
recession when you come out of the
recession you're that much further ahead
and you set yourself up for life that's
the goal right and comment below if you
have a question this is the boss in the
Bentley series this is what I do when I
go somewhere and I answer your question
just like this so it's a good question
and I
answer it until next time I'll see you
in my Bentley