How To Take ADVANTAGE of the Recession (Wealth Generation)

How To Take ADVANTAGE of the Recession (Wealth Generation)

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How To Take ADVANTAGE of the Recession (Wealth Generation). What’s happening right now is the black swan of 2020.’ A rare, unforeseen event that carries potentially severe consequences.

BUT, there are massive opportunities right now, if not one of the greatest opportunities of your lifetime as riches are made in recessions. These opportunities aren’t just tied to the stock market like everyone is discussing.

FACTS:

So facts are, we’ve triggered a bear market which typically happens when there’s a 20% drop from an all time high and this happens along with a recession usually every decade.

As bad and hopeless as everything SEEMS to be, the fact is: there are business and financial OPPORTUNITIES right now. So let’s break it down. There’s obviously a MASSIVE surge in time spent at home, which means changing consumer behaviour such as:
1. More leisurely time
2. More time consuming entertainment and surfing the internet
3. Increase in online shopping, which has been seen in China already
4. A boost in people working from home
5. Stocking up on toilet paper (joking, please don’t)

THE REBOUND:

The second thing we need to think about is: the rebound, which WILL come.

When everyone has deprived themselves of activities such as socializing, going out to the movies, restaurants and just overall financial spending…the urge to do all these things will come back stronger than ever.

Overall, customers will spend again. Right now, established businesses are adapting and offering their audiences value in this time of uncertainty, winning their loyalty and when normal life resumes and they do spend again, it’ll be with them.

THE OPPORTUNITY:

Well now’s no better of a time to DIVERSIFY your income, because the ones that hurt the most during a recession are the ones who failed to diversify.

Many of you have thee fortune of having more TIME right now. You’re stuck at home, many events and entertainment options are shut down and I highly recommending picking up a new skill right now, skills that can be MONETIZED. Wealth can be taken away from you but a skill learnt is a skill learnt.

There are SO many ways to generate income online. You could:
– Start freelancing and selling a skill, lets say design skills
– Start a website and monetize it through Adsense, affiliate marketing or brand deals
– And my personal favourite way is create your very own ecommerce store to sell products across the world. Particularly using a third party supplier so you don’t need to manage the inventory or the shipping at all!

If you want to learn about how to do exactly this, feel free to check out my tutorials on my channel that teach you how to do this: https://www.youtube.com/channel/UCgDqL4yzXb4BflimZaxL4Vg

10 thoughts on “How To Take ADVANTAGE of the Recession (Wealth Generation)”

  1. As people are beginning to realize: right now is the best chance to double down and generate wealth. The rebound will happen and how you choose to respond, will define your advantages (or disadvantages) when the smoke settles. Some great responses below on what you'd do with another income stream, can't wait to read them all! Please stay safe, healthy and use this time indoors to your advantage.

    🎁 Don't forget: Ecommerce Mastery Program is OPEN and set to launch early April! Get on it to secure your discounted launch price https://andrewethanzeng.com/ecommerce-mastery/

  2. Andrew, I agree with everything you said above. I would do two things with earnings from another income stream:

    1) Re-invest profits back into the business.

    2) Invest in medical/healthcare businesses that target Baby Boomers.

    Thanks for the solid information.

  3. Great video, sums up my thoughts exactly. My additional income stream would attribute more to buying my Mum a house and anything else she needs or wants. It will also contribute to my long term objectives of investing in NGOs some of which I've volunteered for already. Finally, it will contribute to building long-term investments.

  4. Great video! We gotta take advantage of all the time we have to invest in upskilling ourselves and creatively overcoming this adversity. Some of the small businesses who are being creative are doing very well, like the barber who's charging people for virtual haircut guidance or your local restaurant who's now delivering wine and cocktails with food delivery. We got this folks!

  5. If I had an additional income stream, I would take more time to learn more and more …God bless COVID-19 cause a closing door opens others ( with all respect sympathy and condolences for those who have lost their loved one because of the coronavirus!) just don't only stay at home but also, stay focus, stay organized, ..stay strong!!! wishing y'all all the best!

  6. If I had an extra income stream, I would first finally be able to make ends meet. Second I would invest it back into my business and future and those around me, I’d love to be able to make a legitimate difference in the world and help others. Stay strong all of you! I don’t know if it’s too late to enter for the call, but I could really use the help in my business. Thank you for what you do. 🙏🏼🌺

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