We have to face facts. It doesn’t look too good for the economy right now. Prices are sky high and growth has been negative for two quarters in the United States, which is the definition of a recession.
Now is the time to make sure that you get your “ducks in a row”.
Here’s my advice …
1. Don’t Hide From It
Now is NOT the time to put the walls up and try to ride it out. People way smarter than me say that the uncertainty is going to be around for a while. It isn’t going pass in 6 months. You have to be proactive to protect yourself and your family. Don’t hide. Get out there and fight!
2. Protect Yourself From the “Negative Influences”
Turn on the news and it is all doom and gloom. Talking to your friends and family is like having a conversation with Chicken Little … “the sky is falling!” For you to thrive instead of just survive, you need to insulate yourself from all the negativity that will cause you to panic.
Instead, choose who you are going to spend most of your time with. Increase the positive influences and decrease the negative. Stop watching the news. Trust me … if something important happens … you are going to hear about it even if you don’t watch Fox or CNN.
Maintaining your confidence and ability to act positively is the #1 priority. You cannot protect the people you love unless you protect yourself first.
3. Concentrate on What You CAN Control
Most of what is happening in the world is outside our control. Especially the stuff you hear about on the news.
If you are stressed about something you CANNOT control, then you need to accept it. You can’t do anything about it, so you are going to have to endure it.
If you are stressed about something you CAN control … then take action to control it. No one is going to come and save you. You have to save yourself by actually doing things that make your life better.
You CAN control what you concentrate your time and resources on.
4. Build on Your Strengths
We all have strengths and weaknesses. People who work to become masters of their strengths are always in demand.
What do you do well? How can you capitalize on that and improve those skills even further so you become irreplaceable?
Those who are masters of their craft generally do well during an economic downturn. No one wants to waste time on amateurs. They want experienced pros who will do it right the first time.
How can you use your strengths to create a second source of income for your family?
5. Take Action to Supercharge Your Success
In every downturn, there are people who come out stronger and richer. Those are the people who see the opportunity in the chaos. They don’t just see it. They do something about it.
I wouldn’t recommend quitting your day job right now, but you need to stop watching Netflix and get a side hustle going in your time off.
Your time is the only asset you have which cannot be replenished. Use your time to build your future rather than wasting it on browsing social media or watching television.
The best way to use your time is to build a list or audience of people who know, like and trust you around a particular topic.
To do that, you need attention from strangers to turn them into subscribers. We call that traffic or website visitors.
