Date: 2020-03-26 17:35:49
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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Legal Disclaimer: This video is property of Deadbeat Inc. We assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only, and is not tax, legal, or professional advice. Always do your own due diligence. Any action you take on the information in this video is strictly at your own risk.