610. Stop Being Afraid Of A Recession!
The Chris Harder Show
Chris Harder
4.9 • 1.5K Ratings
🗓️ 20 April 2022
⏱️ 16 minutes
🧾️ Download transcript
Summary
By definition, a recession is just two quarters in a row of negative growth for the GDP, or gross domestic product. In a healthy economy when the GDP is growing three to five percent, a recession simply means negative growth for six months. There's so much misinformation and fear mongering around recessions, but the reality is that they're a self-fulfilling prophecy most of the time. I break down why you don't need to freeze your spending and stress out about the possibility of an upcoming recession. I explain my approach to recessions, my policy when it comes to building my own micro-economy, and why you should always have 12 months of runway to help you stay afloat in the event of an economic downturn in your industry.
IN THIS EPISODE, WE TALK ABOUT:
- Why I don't buy into the panic about economic recessions
- The cyclical nature of the economy
- The reason why '08/'09 kicked my butt, and what I've done to ensure that won't happen again
- How I've made myself recession-proof
RESOURCES
- Text DAILY to 310-421-0416 to get daily Money Mantras or Business Perspective messages to boost your day.
CONNECT WITH CHRIS
Follow Me: @chriswharder
Visit My Website: https://chrisharder.me
Transcript
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| 0:00.0 | Make sure that you get 12 months of runway set aside all the time. |
| 0:05.0 | If you haven't done yet, yet that should be your number one goal. |
| 0:08.0 | You should be able to last 12 months, no matter what has been dealt to you. |
| 0:12.0 | No job, no problem for 12 months. |
| 0:14.0 | No customers, no problem for 12 months. |
| 0:16.0 | That's your number one goal so that by the time a recession hits |
| 0:19.0 | because it's typically shorter than 12 months long, it doesn't matter. |
| 0:23.0 | Welcome everybody to the Chris Harder show where we are making you unapologetic about your pursuit of success. |
| 0:32.0 | Knowing that when good people like you make good money, they can then do great things. |
| 0:36.0 | My name is Chris Harder and several times per week. |
| 0:39.0 | I will bring you epic guests, solo episodes, and every single tool trick and skill set you need |
| 0:44.0 | to grow your business, grow your money mindset, and to grow your wealth to levels that you have never reached before. |
| 0:50.0 | I've ended up in a unique place in life where I've got the experience, the connections, and all of the secrets that it takes to be successful. |
| 0:57.0 | And I'm lifting the curtain to reveal it all to you in an effort to help put you in a position of abundance so great |
| 1:03.0 | that you can then be as generous as possible. |
| 1:06.0 | So let's lock arms and let's get started. |
| 1:10.0 | Hey everybody, welcome back to the Chris Harder show where we absolutely believe that prosperity and generosity can and must coexist. |
| 1:21.0 | Today I want to talk about all the fear of ongoing that is going on out there. |
| 1:26.0 | And all the fear that is probably real and a lot of people out there, maybe even you as you listen, that there might be a recession coming up. |
| 1:34.0 | Ooh, and I poke fun of it because it's really not that bad. |
| 1:39.0 | Even if there is like spoiler alert, it's not an end to the world. |
| 1:44.0 | It's just a slowing of overall spending. |
... |
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