#7 - How to beat the coming financial crisis w/Bradley Gibb
Apr 11, 2024
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Financial expert Bradley Gibb discusses navigating economic turbulence, understanding money creation and inflation, skills for success, valuable skill sets, maximizing value in the workplace, impending financial crisis predictions, money-politics relationship, and political candidates' influence on fiscal responsibility.
Attitude trumps competency in hiring, fostering teamwork, work ethic, and cultural alignment.
Adaptability and emotional intelligence are vital for success in a changing economy.
Building relationships and trust are key in modern business success.
Post-recession recoveries follow a K-shaped pattern, emphasizing consultative relationships for sustained growth.
Deep dives
Importance of Attitude in Hiring
Attitude is prioritized over competency and experience when hiring as it drives collaboration, work ethic, and culture within a team. Employees with a positive and driven attitude contribute more value and are willing to go beyond what is expected in their roles, making them invaluable assets in a business.
Transition to Skill Sets in the New Economy
The shift in the market landscape necessitates a move towards valuing ingenuity, adaptability, emotional intelligence, and communication skills over traditional technical competencies. Developing a skill set that focuses on human analytics, psychometrics, and social skills can open new opportunities in a changing economy.
Ecosystem of Results vs. Relationship Building
The modern marketplace demands a shift towards building relationships over merely providing results. Establishing trust, reliability, and a personal connection with clients or colleagues is now a key factor in driving success and differentiating oneself in business. Personality, likeability, and charisma play a significant role in driving enterprise value.
The Future of Recovery and Consultative Relationships
Post-recession recoveries are no longer linear, with a K-shaped recovery pattern emerging, where the top group benefits while others struggle to recover. Success in the modern marketplace lies in creating an ecosystem of business assets that foster long-term consultative relationships with clients. The ability to offer consultative services rather than transactional interactions will lead to sustained growth and recovery.
Importance of Exceeding Expectations at Work
Excelling beyond what is expected in a job role is crucial for career advancement and personal growth. To stand out and progress, individuals must demonstrate a willingness to learn, adapt, and take on additional responsibilities. Hiring managers prefer candidates who show initiative, drive, and a capacity for growth, as these qualities lead to long-term success and advancement in the workplace.
Understanding the Value of Trade and Recognition in Work Roles
The podcast delves into the concept of value in work roles, highlighting experiences from the church and business worlds. It discusses the importance of recognizing one's contributions and the impact of aligning job scope with expectations. The discussion extends to the significance of initiating conversations about salary increments and how productivity influences the perception of personal value and remuneration.
Exploring the Notion of Deserved Compensation and Employee Value
The episode dissects the idea of deserved wages and individual worth in the workplace. It challenges the traditional view of being underpaid and emphasizes that individuals are compensated according to their perceived value. The discussion delves into the employer's evaluation of an employee's time and productivity, questioning notions of being undervalued and the importance of recognizing one's increasing competence and worth.
Insights into Financial Education and Wealth Accumulation Strategies
The podcast shifts focus towards financial literacy and wealth-building strategies, particularly highlighting the role of life insurance policies. It investigates the concept of paying more than earning initially in investments and the benefits of whole life insurance as a financial vehicle. The discussion emphasizes the importance of utilizing profits efficiently, protecting assets, and navigating financial decisions to achieve long-term financial security and independence.
Watch the full video here: https://youtu.be/ZmiJfWTbYVw
Are we in a recession? Are we not? In a time where society is struggling to trust the current government, how do we know the real state of the world economy and where it's likely to go? And how does the current state of the market, effect the everyday business owner and employees on both ends? Find out in this episode with our guest Bradley Gibb
