How to get rich in a recession ↓
Here's the playbook:
•Invest in alternative assets
•Look for deals on new assets when the recession starts
•Hold and monetize those assets.
But let’s be real…
•Invest in alternative assets
•Look for deals on new assets when the recession starts
•Hold and monetize those assets.
But let’s be real…
Most people aren’t in a position to do any of that.
Once a recession starts…
Once a recession starts…
Most people will go into survival mode.
And instead of remaining invested in…
•Crypto
•NFTs
•Stocks
They're going to cash out to buy food and pay rent.
And instead of remaining invested in…
•Crypto
•NFTs
•Stocks
They're going to cash out to buy food and pay rent.
They're also going to panic.
But not you.
And forget survival mode…
But not you.
And forget survival mode…
You’re looking to get rich.
And you're ok with living in a little discomfort to make it happen.
So now what?
And you're ok with living in a little discomfort to make it happen.
So now what?
No tricks here.
No investment plays.
Let’s keep this as simple as possible.
Here’s what causes a recession in two words:
No investment plays.
Let’s keep this as simple as possible.
Here’s what causes a recession in two words:
Broken promises.
Somehow, somewhere, too much debt goes unpaid.
Commodities (things we rely heavily on) get tied up in logistics.
Then we — as a country — go into survival mode until things get sorted out.
Somehow, somewhere, too much debt goes unpaid.
Commodities (things we rely heavily on) get tied up in logistics.
Then we — as a country — go into survival mode until things get sorted out.
And as long as we have an economy that’s so heavily reliant on borrowing…
Broken promises will pile up every once in a while.
Here's the thing...
Broken promises will pile up every once in a while.
Here's the thing...
Money doesn't vanish.
It moves into the hands of the most competent people.
(And their investors.)
It moves into the hands of the most competent people.
(And their investors.)
These are the people who can fix the problems that caused the recession...
And the problems that the recession itself will cause.
And the problems that the recession itself will cause.
So your best move is to become competent.
But at what exactly?
But at what exactly?
When the economy is doing well — there are businesses that do well by accident.
They do a lot of things wrong.
Yet they still turn out ok.
The thing is…
Yet they still turn out ok.
The thing is…
These businesses skip the fundamentals.
And when you do anything without grasping the fundamentals — your actions will somehow work against you.
These are the businesses that fail in a recession.
But this won't happen to you - will it?
And when you do anything without grasping the fundamentals — your actions will somehow work against you.
These are the businesses that fail in a recession.
But this won't happen to you - will it?
No.
Because you will become competent in the fundamentals of business.
Because you will become competent in the fundamentals of business.
YOU understand that business isn't about hustling all day.
Business is about swallowing your pride and yielding to what works.
Business is about swallowing your pride and yielding to what works.
The greatest hedge against an economic recession is a high-income skill.
This is any skill that removes barriers to bringing in money.
In this case — the skills are sales and copywriting.
This is any skill that removes barriers to bringing in money.
In this case — the skills are sales and copywriting.
Here's what you do:
•Bookmark this thread
•Relentlessly practice these skills.
•Check out the resources that I recommend at the end of this thread.
Then take the following 3 steps when the recession hits:
•Bookmark this thread
•Relentlessly practice these skills.
•Check out the resources that I recommend at the end of this thread.
Then take the following 3 steps when the recession hits:
Step 1. Find the shift in starving markets.
A recession brings with it behavioral changes.
But the starving markets remain the same.
A recession brings with it behavioral changes.
But the starving markets remain the same.
People are always going to spend money on…
•Health
•Wealth
•Relationships
•Health
•Wealth
•Relationships
These spaces are crowded — even in a recession.
So how do you stand out in a crowded market?
So how do you stand out in a crowded market?
You get fanatically specific about who you serve.
And you get creative about HOW you serve them.
And you get creative about HOW you serve them.
Example:
Nerd Fitness is a digital fitness company for "nerds" who work at a desk all day.
Started during the 2009 recession.
Nerd Fitness is a digital fitness company for "nerds" who work at a desk all day.
Started during the 2009 recession.
Step 2. Design an ultra-specific offer.
Laser-targeted and nuanced offers win in a recession.
Laser-targeted and nuanced offers win in a recession.
You’ll need to be precise about which problems you solve — step-by-step.
Because nobody wants to spend money on problems they don't care to solve.
Especially during a recession.
So make it EASY for people to buy from you.
Because nobody wants to spend money on problems they don't care to solve.
Especially during a recession.
So make it EASY for people to buy from you.
Example:
Netflix started as a mail-order DVD rental company — and they charged a flat $10 monthly fee.
No late fees.
Netflix started as a mail-order DVD rental company — and they charged a flat $10 monthly fee.
No late fees.
They solved all the pain points that movie rental companies overlooked.
And Netflix survived the dot-com bubble that popped in 2000.
And Netflix survived the dot-com bubble that popped in 2000.
Step 3. Sell before you build.
For two reasons…
For two reasons…
1. To de-risk as much as possible.
Selling is the hard part.
It’s better to front-load the hard parts — especially in a recession.
Selling is the hard part.
It’s better to front-load the hard parts — especially in a recession.
2. Your best customers will help you build your product.
Buggy and broken products aren’t as annoying as you think.
Be responsive and don’t disappear.
And show that you are listening to feedback.
Buggy and broken products aren’t as annoying as you think.
Be responsive and don’t disappear.
And show that you are listening to feedback.
I worked with a billionaire real estate developer who built luxury apartments in 2009 — during a housing crisis.
He didn’t start building until 75% of the units were pre-sold.
He didn’t start building until 75% of the units were pre-sold.
Preselling is more common than you think.
If this guy can presell luxury apartments during a housing crisis...
You can presell your little course.
Do it.
If this guy can presell luxury apartments during a housing crisis...
You can presell your little course.
Do it.
Real quick:
I’m starting a newsletter that helps copywriters connect with new markets.
I’ll write about…
I’m starting a newsletter that helps copywriters connect with new markets.
I’ll write about…
•The future of business
•Digital leverage and automation tools to make your job easier
•Next-level client-getting strategies — like how I used my Twitter account to get more clients than I can handle — without a website
And more.
•Digital leverage and automation tools to make your job easier
•Next-level client-getting strategies — like how I used my Twitter account to get more clients than I can handle — without a website
And more.
This newsletter will be a paid newsletter — but if you join the waitlist now you will get FREE access forever.
Here's what I need you to do:
Here's what I need you to do:
Retweet the FIRST tweet in this thread and I’ll DM you the secret link to join the waitlist.
Must retweet within 36 hours after the time I publish this thread.
I'm also going to ask for an honest written review when I start publishing.
Must retweet within 36 hours after the time I publish this thread.
I'm also going to ask for an honest written review when I start publishing.
Recession-proof resources:
•100m Offers → Hormozi
•Ready Fire Aim → Masterson
•Ray Dalio Youtube
•Andrei Jikh Youtube.
•100m Offers → Hormozi
•Ready Fire Aim → Masterson
•Ray Dalio Youtube
•Andrei Jikh Youtube.
Get rich in a recession TLDR
•Follow the shift in starving markets
•Create a ruthlessly targeted offer
•Sell before you build.
Business fundamentals work in any financial climate.
So don't skip them.
That's the thread.
•Follow the shift in starving markets
•Create a ruthlessly targeted offer
•Sell before you build.
Business fundamentals work in any financial climate.
So don't skip them.
That's the thread.
The best investment you can make right now is in your network.
High-value people don't compete with each other — even if it seems like they do.
They work together — because success compounds.
Retweet the first tweet if you're a high-value person 👇
High-value people don't compete with each other — even if it seems like they do.
They work together — because success compounds.
Retweet the first tweet if you're a high-value person 👇
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