The economy is always in flux, and the impact of a recession is as important to understand as the relief you experience during an uptick. The last few years have shown exceptional growth in jobs, savings, and investment returns. Since Labor Day of this year, there has been an increasing sense of doom, like a damp wool blanket is about to be thrown on your sunny day. The Media has been cranking out reports that a recession is drawing near, which actually holds as much promise as it does fear.
I witnessed firsthand the PTSD symptoms of the 2008-2011 recession, and many U.S. citizens today are expecting the next one to be the same. That recession was an epic failure, but also unique in many ways. Talk to a good Economist about the characteristics that created the , and you will realize that no two were equally devastating, nor universally impactful. In fact, this chart is a strong visual summary indicating the swelling surge of economic rebounds following those recessions.
Create An Investment And Exit Plan
As an Entrepreneur, as well as an Early-Stage and Franchise Investor, I recommend that you take a broad swath of real information and start to create an investment and exit plan that takes advantage of spending patterns before, during, and after a recession. After all, there will always be an economic shiver; you just need to know how to capitalize on it. People eat, fix their cars and homes, and especially find ways to enhance their self-image and outward appearance in both up and down economic cycles.
Find Your Inner Winner And Free Up Valuable Billable Hours
Recessions create competition that just gets stronger, so it is only natural that humans turn inward and find their Inner Winner. When the times get tough, the tough get going. They take care of their minds and bodies to improve themselves, and wisely pay other people to do chores that free up billable hours. I worked with an alpha female during the 1980s recession, and she was blatantly unapologetic about having a maid clean her apartment so that she could work six more hours a month to build her commission base, and to audit graduate-level classes to become financially conversational with high net-worth individuals. Talk about money well spent!
Protect Yourself With A Recession-Resistant Plan
As the next recession draws near, let’s have a frank conversation about leveraging your Inner Winner to succeed as a franchise business owner with a recession-resistant investment plan. We will focus on total authenticity, so that you can follow an industry standard you can completely embrace, and still maintain your own standards. I exercise radical empathy, to understand and solve your financial goals by caring about your most essential outcomes with a proven, successful business model.
Consider this – franchising is the best of both worlds – business start-up with guardrails. The franchise has seen it all through different markets and has the proven systems and processes in place to help you weather every economic storm.
Want a little more information on how Franchise ownership could change your life? Download my free ebook.