The Progressive Property Podcast Hedge the Recession & Leverage it! Feat. Rob Moore
The Realities of Recession
Rob has hijacked this episode to explain the realities of recession and the steps you can take to be prepared and thrive during a period of recession.
It is usually 15 years for a recession cycle and the trigger is always different, but you can take proactive steps; building networks and relationships now in preparation, listen in to hear about the realities and how you can plan to not only survive but thrive.
KEY TAKEAWAYS
- A recession can result in fear and this can make it more challenging to understand the realities.
These are the realities;
- Many great businesses are built on a recession because the playing field is levelled this includes large and significant businesses such as Microsoft and Lego.
- Many business models thrive in a recession e.g. tax accountants and confectionary manufacturers. Progressive thrived because people were looking for something different and positive they could do as a result our training took off.
- Your competitors are likely to stop spending money on marketing because they view it as a variable cost. This should be the last thing that should be reduced as it removes your pipeline for new business.
- When there is a recession you need to learn how to manage your cash and finances better. If you learn to manage cash flow well now you will be even better in a recession.
- Staff costs are likely to reduce in a recession and it is often possible to employ very talented and skilled individuals at lower salaries.
- You can buy businesses cheaply and grow through acquisition during a recession.
- People will have fear and they will need guidance. They will need leaders and that can be you if you manage your emotions well.
- People think that money disappears in a recession, it doesn’t it just moves, from traditional businesses to lean businesses from old businesses to new businesses.
BEST MOMENTS
‘When we saw the last recession, we had fears and concerns, but it ended up being good for our business’
‘I learned a lot vicariously from other property companies during the last recession’
‘If your competitors are spending less on marketing you have less competition for leads’
‘If you learn to manage cash flow well now you will be even better in a recession’
VALUABLE RESOURCES
No Money Down: Property Investing book by Kevin McDonnell
https://www.facebook.com/groups/progressivepropertycommunity/
ABOUT THE GUEST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor and property educator. Author of global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
- Rob’s official website: https://robmoore.com/
- Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
- LinkedIn: https://uk.linkedin.com/in/robmoore1979
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD