“The mother of all recessions is coming”

I recently read an article on Business Insider about how Michael Burry, the famous investor who called The Housing Crash, thinks “the mother of all recessions” is coming.🧑‍💻

Like most people, whenever I read articles like that, I feel a tinge of panic…😱

“Oh no, what if he’s right, I need to start getting my house in order NOW.”

But here’s the truth:🤔

While we should always be antifragile and prepared for a downturn…

We also can’t live our lives in fear…

Especially when literally nobody can time the market or predict its movements with any degree of certainty.

The article made me think back to early 2018 when I did my first RMBC Event…

At that point, pretty much everyone thought that a recession was “due” (and many had been saying that since 2016 at least)…

So a major downturn felt like a foregone conclusion…

And during my two-day event, I even had a portion about how to safeguard your business when a recession hits.

We also can’t live our lives in fear…

Especially when literally nobody can time the market or predict its movements with any degree of certainty.

The article made me think back to early 2018 when I did my first RMBC Event…

At that point, pretty much everyone thought that a recession was “due” (and many had been saying that since 2016 at least)…

So a major downturn felt like a foregone conclusion…

And during my two-day event, I even had a portion about how to safeguard your business when a recession hits.

Turns out, instead of a recession, we saw three more years of insane economic growth…

And even during COVID – stocks and housing prices hit all-time highs.

Now, does this mean there won’t be a recession in the next 6 months? Or the next year? Or the next two years?

No clue…

And the truth is, you don’t have a clue either…

And neither does your really smart friend who studied economics…

Or that guy you follow who predicted two of the last three crashes.

So given all of this…

The best thing you can do is keep on plugging away…

While remembering that an insane number of millionaires were born during the Great Recession…

Just like in the Great Depression.

I’ve actually spent a ton of time studying the companies that thrived back during the Great Depression…

And you want to know what their #1 secret was?

They basically just decided to pretend the Great Depression didn’t exist.

In other words, they didn’t stop advertising…they didn’t constantly talk about how tough times were…they didn’t panic fire a bunch of employees…

Instead, they just carried on…

And fortunes were made.

Knowing this history helped to inform my decisions at the start of COVID as well.

Last spring, when everyone was starting to freak out…

I made a decision:

“I’m just going to run all of my businesses as normal and operate under the assumption that COVID won’t negatively impact them. I’m going to advise all of the members of Copy Accelerator to do the same thing. If I see really strong evidence to the contrary, I’ll adjust at that point.”

Well, no contrary evidence ever surfaced…

Instead, I had one of my best years ever from a financial perspective…

And so did the vast majority of people in Copy Accelerator.

Granted, we’re fortunate to be in digital marketing/eComm and not restaurateurs…

But the point remains:

If we’d freaked out, we would have missed several months of incredible sales and growth opportunities.

So yeah – my advice is to not worry too much about what the pundits say.

Are you a feeble feather who gets tossed around by the changing winds?

Or are you an anchor, someone who is strong and steadfast no matter which way the currents pull?

I like having the attitude of someone who is unf*ckable…

Meaning: bring it.

Whatever it is, I’ll find a way to thrive…

And it’s not just a machoism thing…

It’s the same mindset you need to bring to your life and your business every day too.

 

– SPG

P.S. This post originally came from an email I sent to my private list. If you want to see more stuff like this from me, you can apply to join my list using this link

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Stefan Georgi

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