This shit just got real. 4 tips to thriving in a recession.
A storm is brewing, and it doesn’t look good. Our looming second downgrade to #junkstatus means billions will be drained from our economy. The rand will become increasingly volatile, bringing with it inflation, and in turn interest rate hikes. Not much news there.
The question is not how much trouble we’re in, but rather what we’re going to do about it. More specifically, how can we turn it around?
What do Amazon, Intel and Lego have in common? They all saw massive growth during the global recession. What can we learn from these companies? Success in a downturn can, and does happen.
Let’s not kid around, there is plenty of money in this country. But with this cloud looming heavy on the horizon, it’s time to take stock:
1. Play Devil’s Advocate
Yes, you’re busy. Do it anyway. Take stock. Be ruthless. What works? What doesn’t? How will you, your properties & business weather the storm?
2. The night of long knives
Take a feather out of Zuma’s cap and axe your expenses.
It’s amazing how they add up; even more so how many are obsolete. Assess your commitments and get real with what needs the ‘long knife’.
3. Cabinet reshuffle
Consolidating your debt into a single facility simplifies your finances and gives you more negotiating power. Those interest rates matter! Shop around and get yourself a deal.
4. Sharpen your strategy
A recession presents opportunity: Don’t forget that. To be successful we must find our niche, spot the gap and take the risk.
We create our own economy. Don’t get swept up in the storm of negativity that’s brewing. Think, prepare, act. The sun will come out again.
Tip: Property. Is. Long. Term.
Time forgives most mistakes.
For assistance with your niche and professional property services, contact Kat.