Some great advice from Warren Buffet
Feb 01, 2023Want to hear something crazy?
The Harvard Business Review shared a study that followed thousands of companies during the past 3 global recessions.
17% of them didn’t even survive the recession…
And 80% of survivors were still struggling three full YEARS after the recession.
But guess what?
9% of businesses "flourished" during the recession.
In other words, 9% did better financially during AND after recession than they did before recession!
So, wouldn’t you like to know their secret?
What did the successful businesses do that the others didn’t?
This may surprise you, but the businesses that focused only on cutting and pulling back had the lowest probability of success…
Instead, it was those who strategically INVESTED that flourished.
They actually invested time, attention, and oftentimes money on the right things.
They didn’t pull back but rather pushed forward.
They kept INNOVATING, CREATING, and MARKETING.
And my friend, this approach doesn’t just combat a downturn…
It lays the foundation for your continued success year after year!
How are you innovating, creating, and marketing right now?
What are you doing to combat the recession?
How are you investing in your business (and yourself)?
Warren Buffet, one of the greatest investors of all time said that the best investment one could make to inflation proof themselves is to “... be the best at something that people need. There is nothing that can inflate that away. No one can take away the talents you acquire. The world will always need you and the best protection you have against inflation is your own earning power.”
In other words, 9% did better financially during AND after recession than they did before recession!
Here is a great, and free way to invest in yourself…
If you’d like to hear the most recent interview with Joyce Sanders of “The Martins” trio on my “Life's Hard, Succeed Anyway” podcast, you can listen and subscribe here.