Believe it or not, economic downturns are real
The last major meltdown was in 2008
I still remember it like yesterday…
A Short Story
My uncle had retired a few years earlier having been a Deputy Managing Director of a major Nigerian bank
I will keep the bank’s name and his identity a secret for obvious reasons
This man was richer than the average Deputy.
Thanks to his smart investments in stocks…
He was a multi-millionaire (in dollars)
Unfortunately, his entire net worth was wiped out in one swing in 2008
He was lucky to still have a roof over his head; because he owned his home
But there were much bigger issues…
He had 2 kids schooling abroad
Have you heard of tuition, books, feeding allowance, etc.?
Those were some of the bills that were coming at him without mercy
He also had bills of his own to take care of
Have I mentioned his beautiful wife?
You see, everyone depended on him.
He was desperate to find a way out
The tension was palpable
The sleepless nights were cold
But the restless days? Far worse.
Suddenly, in a flash, he remembers the principles for generating wealth
Which he knew from having been in the company of great men for decades
The same principles that helped him become rich in the first place
As he began to apply them, he gradually started to find his feet
And once again, became a millionaire in dollars
What did he remember and how did it help him?
You see…
Making Money Has A Set Of Rules
It doesn’t matter your race, the color of your skin, or how your face looks.
Once you follow these rules
It will come to you. In large quantities.
Those who don’t know or follow the money codes will die poor, broke, and destitute.
I know that sounds harsh
But it’s the truth.
That’s why the first week of our Dollar Journey program is focused on…
Mindset Shifts.
Because I know people cannot make money online or offline without learning the rules of the money game, first.
If you hope to stumble on large sums of money in your lifetime
I strongly recommend, you study money and follow its rules
You can join my Dollar Journey program or any similar program where they teach about the rules for success
A Lesson On Resilience
That’s by the way…
What I want you to notice is my Uncle’s resilience
Most persons would have given up under similar circumstances
They would complain about the government
They would complain about corrupt practices
And spend their days miserably wallowing in self-pity
You see… being resilient is a very important trait
One that we don’t see too often
It is the desire to continue trying against all odds
That is what separates winners from losers
How do you build resilience?
That’s a conversation for another day…
Today I want to focus on…
How To Survive An Economic Downturn
Surviving an economic downturn requires preparation
The very fact that you’re reading this shows you’re smart
It is easier to win when you’re prepared…
Many volumes have been written on this subject
They’ve covered topics like income diversification, savings, debt management, and so on.
So I am not going to talk about those.
Because you can easily cover those topics…
My focus for today is on increasing your earning power
The ability to make money from anywhere in the world and under any circumstance is one with which comes financial confidence.
I wish to inspire you, through this piece to learn and master certain skills that’ll create the necessary shield to withstand any economic situation
One would expect that I would list the trending skills such as A.I Prompt engineering, Web development, Software engineering, and the likes
But no.
The reason is that those skills are the result of something else
I intend to focus only on fundamentals.
Learning fundamentals means you can start from scratch and build out anything.
Afterall, artificial intelligence and robots will replace most jobs
And they would do it better and more efficiently
So if you only learn high-level skills, you’d be most vulnerable among men.
Hopefully, you are paying attention to what I’m sharing and gearing up to take action.
Now, the first skill I recommend you master is…
Marketing & Psychology
You see, as long as capitalism is in existence…
And healthy or even unhealthy business competition exists
The understanding of marketing will forever remain relevant
Marketing is simply using a deep understanding of human psychology to negotiate, and sometimes, command compliance.
It is needed in the business world
It is needed in the social world and in politics
If you want to wield control to determine your income
Now and in the future…
Develop your marketing skills.
The second and closely related skill you must develop is…
Human Relations
Understanding how to relate and deal with people is an essential skill
Those who commit to the earnest pursuit of relating better with others see significant improvement in all aspects of their lives
Their health…
Job…
Families…
Are better because of it.
Those who know how to relate with others are always in demand.
Think about this for a minute;
People hire people they like.
Customers patronize brands they like
Winning political seats is also about being liked – in a fair and credible system.
There are very few things that don’t rely on your likeability
So it is something worth investing some time and money, in learning.
If you’re looking for a useful resource on the subject…
Dale Carnegie’s book – How to Win Friends and Influence People is one of the best (if not the best) materials I’ve read on the subject
I suggest you treat it like the bible of human relations
Read it as often as possible.
That brings us to the third and final skill, which is…
Speaking & Leadership
Leadership is a skill that is not recognized enough for what it is:
A skill.
People argue about whether leaders are born or made.
I don’t know who is right or wrong. And I frankly don’t care
It is true that leadership comes more naturally to some
But I have identified leadership and influence to be a learnable skill…
For those who devote the time to learning it.
John C. Maxwell has written a lot about leadership
His resources must be studied as a guide to being an effective leader
It’s also important to note that leadership is different from having titles
So you don’t need a title to become a true leader
A leader is someone that other people follow, and that influences decisions.
Titles can be awarded but leadership is earned.
So focus on practicing the key techniques that will position you for leadership… with or without titles.
Summary
As you can see, these different skills are related.
They all deal on the subject of people.
Understanding human nature will always set you up for financial prosperity
Regardless of the economic situation.
Focus on this, and reap the rewards.
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