The ‘R’ word is popping up a lot these days. That word is “recession,” and there’s a good reason everyone’s talking about it.

Prices are going crazy. It seems like everything’s doubled in the last few months. If unemployment weren’t so low, it would be a slam-dunk and everyone would say we’re in a recession.

This is important for copywriters and entrepreneurs, because there are specific strategies you can use to stay afloat and even grow your business in a recession. We’ll talk about them today.

Are you skeptical that anything could work in a recession? A Forbes magazine article says that seven billion-dollar family fortunes trace back to getting started during the Great Depression. So it’s possible to do well when the economy’s in the tank.

Now some experts I’ve seen on TV say we’re not in a recession yet. A really bright guy on the left says we’re pretty close, and just as bright a guy on the right says there’s a very good chance we’ll go into a recession soon.

I don’t agree with either of them. I think we’re not going into a recession, at least until after the elections in November. I think the politicians who have most to gain from no recession will make sure we stall it until they get reelected.

But I’ve been wrong about the economy before. So even against my own predictions, I think it’s a good idea to know what to do now so when things start to look really bleak, you’ll have a plan you can go to.

Because sooner or later there’s going to be one. That’s not just me talking. That’s history talking. We’ve had five major recessions since I’ve had a job or a business, and eventually we’re headed for another one.

The best news of all is, the ideas we’ll talk about today will work great even when we’re not in a recession — and work even better once we are.

So let’s start by figuring out what a recession is. It’s a scary word, and it’s easy to think it means the economy has rolled to a dead stop. Or has collapsed completely. Game over. Economic Armageddon.

And that’s very dramatic, but in truth, that’s not what a recession is.

A recession is when the economy slows down. Keep that in mind as we go through this. Yes, there are problems. There are even some human tragedies. Sometimes a lot of them. But that doesn’t mean the economy has up and left and gone to another planet.

No. It has slowed down.

Another thing to remember: A recession doesn’t affect everyone the same way. Let’s say there’s a business where 10 employees there are your customers. Five of them get laid off. The other five stay on at the same salary they had before people started getting laid off.

The five people who got laid off are a lot less likely to buy from you, in most cases, than the five who still get paychecks on a regular basis. One customer groups has suddenly become two very different ones. So even people in the same neighborhood are not all the same, when it comes to what kind of customer they’d be in a recession.

And there’s another thing before we get into what to do (and what not to do) in a recession.

What’s going on in the economy and specifically in your target market is very important. You need to pay attention and keep tabs on it.

But there’s something that’s far more important, and that’s your mindset.

Now if you’re skeptical about mindset, I understand. There’s a huge industry developed that says if you’re just like Dorothy in the Wizard of Oz, and you tap your red shoes together and repeat a magic phrase over and over, that is simply all you have to do and you will live a rich and satisfying life.

I never got the red shoes myself, but from what I’ve observed and experienced, it doesn’t exactly work that way. A positive mental attitude is definitely important, but it’s hardly enough.

The mindset I’m talking about is much more real-world. First of all, it’s a perspective. A way you look at things. Expecting that you’ll be successful but knowing it’s not always easy and you may have to try more than one path to get a result you’re looking for.

But it’s more than that. The mindset I’m talking about involves your hands, your mouth, and your ears. Your hands - What you do. Your mouth - What you say. Your ears - How you listen.

It’s what you focus on. And where you don’t obsess, too. It has to do with you how you use your mind to run your day throughout the week. A bias in favor of action and replacing perfectionism with repeated efforts and adjustments, especially if something doesn’t work the first time.

That’s at least as important as any marketing or copywriting moves you make during a recession.

Besides that, on today’s show, we dig into:

• What NOT to do when a recession hits

• What to do MORE of, and

• 3 proven Recession-Fighting Strategies you can use right away, whether we’re in a recession or not! (They increase income either way.)

• And 4 overall principles to get the most from your business during a downturn.

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