4.6 • 1.3K Ratings
🗓️ 19 August 2023
⏱️ 5 minutes
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0:00.0 | All right, so we are going to talk about, we're going to go into a little more depth here on the economy, what we're seeing, because in the last episode, Neil and I gave a prediction that really doesn't mean anything because A, we're not educated on it. B, we only said 50-50. So it absolutely means nothing. But we're going to tell you what we're seeing because... |
0:16.0 | And what Eric and I are talking about is on the last episode he said, do you think we're going to have a hard landing or a soft landing when it comes to like a recession and the downturn. |
0:25.0 | And I said, I have no clue, just be a random guess. |
0:27.6 | So I gave the 50-50 answer to copy him. |
0:30.3 | In a bad economy, what most people don't realize is marketing is usually the first thing to get cut. |
0:36.0 | In a good economy, marketing is typically one of the first things that gets added back. |
0:41.5 | So we get hit the first and we get added back |
0:45.8 | the first as well. |
0:46.8 | So we see things before most industries |
0:49.9 | on both ends. |
0:51.4 | And Eric and I, funny enough, we're seeing pipelines increase. Would you agree with that? I'm seeing our |
0:58.2 | pipeline grow at a much faster pace. And we're also seeing how big is your pipeline on an average month on an average month |
1:06.8 | or where does your pipeline usually stay at? I'll just say I'll just say it's probably gone up by like |
1:12.4 | 60 70% Yeah, so when the economy was decent or good, our pipeline was |
1:18.9 | usually averaging somewhere around like 15-ish million dollars. |
1:22.8 | And when it started getting bad, |
1:24.8 | our pipeline started to decrease around $8,9 million. |
1:28.3 | Oh, that's a lot. |
1:29.2 | And that's not closed, that's just pipeline, right? |
1:31.2 | You close a percentage of those and it's a revolving because you |
1:34.2 | eventually move out the ones that you know won't close from your pipeline you add in new ones |
1:37.8 | but it was maintaining around 15 million I think our pipeline got as bad as to like 1.25 and now it's back at like let's call it 3.54ish. |
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