EP 281: How To Thrive with a Looming RecessionJun 28, 2022
Are we entering a recession? With this question hanging over everyone’s heads, it’s better to prepare than to panic. Here are some actionable steps investors can take to recession-proof their business and their wealth.
In this minisode, Liz and Andresa talk about how to move forward smartly and conservatively in the face of an economic downturn. Getting in touch with banks, doing research, and networking are keys to mitigating risks. Liz also encourages us to find ways to thrive by keeping an eye out for opportunities and making the right calls.
• “There is a varying degree of conservativeness in banks. Some banks are going to still keep lending right now. Some banks are probably being told not to.”(2:27-2:35)
“Don't assume that the bank that you're currently working with did not adjust.” (2:45-2:51)
• “Start to be mindful of your cash and what's liquid. You should be trying to get liquid on something so you have it to deployed into an opportunity or to just have buffers.” (4:44-4:57)
• “Are you, are you doing your market research? Because right now, if people are getting nervous, this is could be a good time to buy.” (5:19-5:25)
• “Be mindful of what's happening. In some ways, the market being not so hot is a good thing in and of itself.” (5:31-5:36)
• “How the market it is right now, you need to consider what's the worst-case scenario,” (6:41-6:46)
• “To thrive in this market and to thrive in any market is to get the data.” (10:40-10:43)
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