Gabe, Jon, and Ryan recap what they were going through in the business when everything shut down in March. Hindsight is always 20/20 and everyone tells you to buy when others are fearful, but boy, psychologically that’s easier said than done. The truth is, we don’t know when the bottom really is and it can be a hard pill for the mind to swallow when your recent investments keep losing cash. The guys talk about some of the critical lessons they learned throughout this process.

 

Key Takeaways:

• How do the guys feel about the year 2020? Let’s do a recap.
• The guys who struggled the most had the $50K budgets for marketing.
• Gabe lost half of his sales pipeline.
• Ryan also lost money and wasn’t sure what to expect. It was like it was 2008 all over again.
• It’s so hard to have a good frame of mind when everything around you is falling apart.
• You want to buy when there are panic and fear, but that’s easier said than done.
• It’s so critical to be flexible and nimble when stuff changes.
• Ryan is just not willing to risk everything in order for him to have an “influencer’s life.”
• When a society gets prideful, they start to get greedy.
• Jon is preparing for the downturn and is hoarding cash right now.
• The market can stay irrational for a long time.
• The more cash you can generate, the better position you’ll be in when there’s a downturn.

 

Resources:

Freedomblueprintshow.com