A Recession Warning For Entrepreneurs – Episode #255 w/ David & Donni



Is a recession looming? How do we prepare for a potential downturn in the economy? Quite candidly, for many of us , this may be oIs a recession looming? How do we prepare for a potential downturn in the economy? Quite candidly, for many of us , this may be our first experience of navigating through economic conditions we haven’t seen as entrepreneurs. In this historically important episode we’ll discuss :

– Are Recessions Natural or Manufactured ? How do we grapple with the potential “powers that be” vs. a more natural economic cycle as an explanation for what happens during this period.

– Preparing, Being Optimistic, and Moving Strategically As An Entrepreneur : How do you take action NOW for what is potentially to come without panicking, overleveraging, or stopping your momentum.

– Recession Proofing Your Finances : How do you eliminate more debt, make your dollar stretch, and find ways to bring in more income?

The Power of Networking, Collaboration, and Investing Into Your Mental Health : Our ability to tap into our “people resources” and add value to the circles we are privileged to be a part of.

And so much more!

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David on IG : http://www.instagram.com/sleepis4suckersu

Show Notes:
00:00 Podcast Preview And Sponsored By

01:44 Welcome To The Show And Weekly Review

05:09 Surviving A Recession

12:46 Fear Of Another Wave

15: The Art Of Leveraging

22:22 Commercial Break

23:22 Cutting Back

36:40 Pay What You Owe

40:44 Brain Picker Commercial

41:48 Free Funding

47:09 Don’t Stop Networking

52:39 Pay Your Credit Card

1:00:45 Are You Prepared For The World To Go On Sale

1:05:47 Sponsored By
Timestamped By: @theyouniversitylive

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35 Comments

  1. The bomb this woman just dropped in the first five milliseconds of this epic podcast is the game changer. We're going to be in an inflation death loop, and we all know it. People really need to think about different ways to get the bag.

    TRADE SCHOOL.
  2. We are already in a recession and inflation is worst than they are saying at 8.6%. Simply just check and see how much more you’re paying for goods and it will show we are north 14% at least.
  3. Especially since you don’t have to have a degree. Why do you think government contracting is so big? Because it’s the only sector of business left left that any money will be freely available for and HALF of entrepreneurs don’t know how to get it or apply.
  4. There is no extra money now. The world is in debt (the pandemic) taught us that.

    Take everything from us, give us money, raise the prices on everything, make us work it back through contracts to pay to back. Suffer through everything.
  5. How old is he? It’s not a hard concept to understand. Even then people at Wendy’s are effected because everyone is trying to save money by not eating out. It literally effects everybody. It’s not rocket science.
  6. Another great episode with a lot of information. I see Donni putting work in on leg day at the gym… when y’all starting the only fans page😂😂 But with seriousness, I thank you two for the continuous information y’all give. For the people who listen to you guys and execute with the information ….the recession is not a bad thing…. I’m ready…. I’m going heavy in Tesla and Apple…. Getting my real estate together now… slowly. Hope you guys do a show in the DMV
  7. I definitely think that recessions are orchestrated by the top 1%. It's always some financial guru warning about a recession which scares folks.
  8. Yep. The middle class suffers because you end up in a bracket that pays the most yet receives the least of your value, especially if you’re in a “serving” industry. And yes, $100 to fill up my car
  9. Side hustles can definitely keep you afloat. I definitely remember the recession back then. I worked for a wholesale printing distribution company designing business cards, flyers ect., and manufacturing rubber stamps. Lots of layoffs because work was kind of slow. Fortunately I still had my job but hours were cut drastically. Thanks to my side hustles doing hair in my living room...people who normally went to the salon were now my best customers, along with my regular customers. And I always had them bootleg CD's and DVD's on deck as an upsell. Plus I leveraged my skills from my job and sold business cards, flyers, baby shower and wedding announcements that I designed and printed straight from my computer. Never took a graphic design course, learned graphic design on my job. You CAN definitely use your skills from working to start a side hustle or create your own business!
  10. My sister, Brother in Law and I were working for Countrywide Mortgage at the time. We saw it coming. The subprime department was booming and we knew it was unsustainable. Then the company started reassigning employees from subprime to my department if FHA/VA Govt lending. The homes in Midwest states were not appraising at their sales price around 2006-2007. The trend started spreading all over. I processed loans all over the country: From Alaska to Hawaii. New York, to Jamaica. Florida to California and every state between. Countrywide assumed a few smaller mortgage companies like Taylor, Bean, Whitaker and other. The layoffs were nearly every Wednesday. Then the company merged with Bank of America. Shortly after our entire lending department shut down and we were reassigning to remedy the extreme number of default loans. It was BAD. I was purchasing my sister's 2600 sq ft house , she had a 4000 Sq ft house. I convinced them to sell theirs and move back into mine and I bought a 2 bedroom townhouse all before the bottom fell out. completely fell out.
  11. Absolutely love these guys, but on a topic like this it’s just 2 friends talking. If you really wanna know what’s going on and how to navigate you should tap in with the pros. Like Donnie mentioned EYL Wallstreet Trapper Ian Dunlap exc
  12. This is from a link I found.
    California has the highest average price, at $6.40 a gallon, according to AAA. Several other Western states and Illinois are higher than $5.50. The lowest average is in Georgia, at $4.41. While the $5 mark is new, Americans paid more for gasoline back in July 2008, when inflation is considered.12 hours ago
  13. I would say prep now and like Donnie said collaboration. It’s really going to be about community again. The pandemic was isolation the recession has to be community and budget.
  14. I'm a baby boomer and Black people have been in a recession since the day we were hauled here from Africa. My generation knows how to eat milk and cornbread, pinto beans and rice. You can't miss what you've never had. I was one of sixteen. Survival is my middle name.

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