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Business Bros – Episode 67 – How to Win When the Economy Tanks

Published in Business, Business Bros, Business Bros Podcast

In this episode we talk about what happens when the economy crashes. People turn to education and try to make moves when it is to late. What do you do when you lose your job or have a financial disaster? Are you prepared? Be sure to join the conversation and let us know how you prepare for the unexpected. You can follow us on Facebook @SiasFirst or on Twitter @BusinessBrosPod and be wure to schedule your free coaching call on our website www.SiasFirst.com. Music by www.bensound.com

 

When the economy tanks, education wins.

  1. People are comfortable and conform
    1. Markets are good
    2. 9-year bull market, especially 2017
    3. Confidence at all-time high (Volatility Index all-time low)
  2. Then something changes
    1. Job loss, change in economy, divorce
    2. They look for something in the same field
      1. Unsuccessfully
    3. They seek new skills
  3. Online Colleges & JC’s
    1. Degree path is expensive & time consuming with no guarantee of success finding full employment in that field
  4. Professional Licenses (Real Estate, Insurance, etc.)
    1. Quick certification time (relatively)
    2. Fixed cost for prelicensing
    3. Potential for high income
      1. Assuming you have the skills to succeed
      2. Drive is not enough for the long term
    4. This is where many of you are today.
    5. MCC – learn the skills!
  5. Back to the changing market
    1. Many of you would rather run to a new profession or hide during the downturn than to learn the skills needed to weather the storm.
    2. Schools love you for that.
    3. Uncle Sam’s fed loans love you too

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