Can You Still Get Rich In This Recession?

The Federal Reserve continues to raise interest rates and now people like Jamie Dimon, Paul Tudor Jones and even the ever optimistic Cathie Wood are saying that we're going to enter into a recession if we're not in one already. Already this year we've seen the crypto market lose trillions of dollars and Bitcoin and Ethereum are already down over 80%. The stock market has entered into a bear market and it is now down to where it was pre Covid. So all those crazy Covid gains that we got and the Dow Jones Industrial Average and the Nasdaq, they're gone. And real estate is finally softening. We're seeing prices come down and I think the real estate market is going to fall at least 20%. I've been saying this for months and now other people are getting on board. But I have a different opinion than what most people say about this recession and that's that I believe that we are in an asset price recession, not a productivity recession. And that's good news for entrepreneurs. In fact, it might be the perfect window of opportunity that you've been waiting for to build a million dollar business and make this next chapter of the economy your time to get rich. Ooh, that sounded hypey. We're almost always a buyer of stocks. We're a more aggressive buyer when they're going down. I mean, I feel much better when they're going down. Everyone says that you should buy low and sell high when it comes to investing and yet almost no one does it. Most people enter into markets when things are going really, really great and when they're not going so great, they say I'm going to wait for a better time. So please use this window as your opportunity to get this one right. I kind of need that advice myself on some of the things I invested in the last couple years too. Quick predictions from this random dude on the Internet who does not provide financial advice. Don't listen to anything that I say, but I believe that the bottom of the Dow Jones Industrial average is about 26,000. It might fall to 24 for a hot minute, but I think 26,000 is going to be where it about settles at the bottom. And the Nasdaq I think will fall to under 10,000 and bottom probably around 8,000. That would erase all of the COVID gains, all of them. And the s and P500 I think is going to fall to about 300. Now all of these would make for about a 40% correction in all of the major markets. That's Insane. That is a really strong correction. Which means that I want to buy in at these prices because we may never see them again in my lifetime. My personal opinion is that a full recovery is going to take three to five years. I think we're going to have a window of opportunity to buy all the assets that we can handle over the next several years. Most people are going to run scared. We're going to have this time in which entrepreneurs are going to be hesitant to start new things. We're going to have investors be wary about putting their money back into volatile markets. I think that this is the time for entrepreneurs to get aggressive because if they do so over a three to five year window, they come out fabulously wealthy. Recessions are the best time to start a business and it's also the best time to start investing because you're buying things at the cheapest point. I really hope you already knew that. If you follow my work, you know that I help entrepreneurs build million dollar businesses. I wrote a book about it. I have hundreds of case studies of people who have done it and I've helped lots of entrepreneurs sell their businesses for millions of dollars. And in this crazy run up that we saw over the last couple of years, many of my students sold their businesses for seven or eight figure paydays. But they got started when things weren't as good. That's really the key to know going into this next recession. For those of you who want to get rich over the next few years, and you know that the way to wealth is to build businesses and then take the cash flow and buy passive income and and other investments. This is the perfect window of opportunity. The best time to both start a business and to invest is when everybody else is running for the hills. And that's what's happening in the marketplace right now. A lot of entrepreneurs are scared right now. A lot of entrepreneurs are getting flushed out in the marketplace. A lot of entrepreneurs have never been through a recession before. And so when they see one little hurdle or they have one month of negative cash flow, they run for the hills. That means there's less competition right now. Prices are soon to fall and it's a window of opportunity for entrepreneurs to get started once again. My model for becoming a millionaire in a few years is to build a business and then to invest the profits. Everyone else is looking at what stocks you should buy or what real estate markets are going to recover. Those are good questions to ask, but they're really unhelpful. If you don't have a business that is split, spitting off extra cash flow. Now if we look at the marketplace right now, I'm really intrigued by some dividend paying stock. Verizon and AT&T are paying 7% plus dividends. This is insanity. I want to buy all of it. There are all kinds of exciting but also boring dividend paying stocks that are going to be fine in the long term, but they're getting crushed in the marketplace. Right now I want to buy all of them. I want to buy all the bitcoin right now. I want to buy all the apartment buildings. But none of that matters to you if you don't have a business that's doing at least $100,000 a month in sales so that you're making at least $30,000 a month in profit for you to go buy all the Verizon and all the bitcoin or all the Amazon stock or all the investments that you want to make. For the last several years, people have told me, oh, selling physical products or starting an e commerce business that's too saturated. And guess what? Now they don't have that excuse anymore. Because so many businesses are running out of the marketplace. They're trying to save capital, they're trying to conserve resources. There are very few businesses who are playing aggressive right now. But now is the time to start getting ready to be aggressive. The reason for that is because people are about to be on sale, because inventory is about to be on sale, because the prices of everything, including advertising, are going to come down. So for the rest of this video, I'm going to talk about how you can start a business during this recession. Get it to $100,000 a month so that you can invest it into all the things that are going on sale right now. Before you start making investments or even asking what you should be putting your money into, the first thing is to build the business and to get it to $100,000 a month in sales as quickly as possible. To some new entrepreneurs, that sounds like a crazy high number. But remember, $100,000 a month is just 100 sales a day of a $30 product. If you've got $100 product, then that's just Hunt. You don't need to be good at math to be a millionaire. 30 sales a day? Yeah, you just flip the numbers. Yeah, it's third grade math to get to a million dollar business. If you've got 100 sales a day at $30, that's $3,000 a day, $90,000 a month. Ish. And that's about $1.1 million a year. It's a really good starting point. So if all you take away from this video is knowing that over the next year or two years, if you get a product to 100 sales a day, or you get four products to 25 sales a day, your entire financial future can change. That is enough for you to have about $1 million business, and that will spit off enough cash flow for you to go buy all the stocks, all the bitcoin, all the things that you want to buy in your investment portfolio and, and let that grow over the next several years and wait for the next bull run to make you uber rich. One of the things I like to think about in my mind, because that's where I do most of my thinking, is if I think that bitcoin is going to a million dollars, which I think there's a reasonable chance that it could over the Next, let's say 20 years. If one bitcoin is worth a million dollars in 20 years, and right now it's trading at 18,000, I want to buy as many of those over the next three to five years as humanly possible. So I look at every dollar that I make in my business as going to work for me in an investment that I'm going to sit on for 10 or 20 years. That actually increases my motivation to make more money. So I'm thinking about how do I get my next product to 25 sales a day, or how do I make this next product launch really successful so that it can get to 50 sales a day consistent consistently? Or how do I add an extra $10,000 a month in profit to my business so that I can buy six more Bitcoin over the next 12 months. Now Bitcoin is just one example. I actually buy more dividend paying stock than I buy any cryptocurrency. But the principle stays the same. When you're thinking about all the assets that you can buy and how much you think they're going to be worth over 10 or 20 years, then your job is to make as many dollars as possible right now so you can put it into those vehicles that are going to grow for a very long time. And it's important to remember that there will be another bull run, there will be another time when there are people who are clamoring to buy more businesses. So if you start a business now with the idea that over 3, 4, 5 years this is going to become a multimillion dollar business that someone else wants to buy, then you kind of have the COVID to say all right, I'm going to get through this time. I'm going to make a whole bunch of money in a few years. I'm going to invest it in all the things I want to invest in. And it gives you kind of the peace of mind to know that you could start this right now while everybody else is scared. Everybody else is running for the hills, and I'm going to be way ahead of them in a couple of years. That's the kind of mindset that will make you rich. So what do you do with all of this? Well, if you're a new entrepreneur, your goal should be to get to 100 sales a day in a business business as quickly as possible. If you want some help, we do this thing called the five Day Challenge. One hour a day for five days will help you craft exactly what products you should sell, exactly what your market is going to be, and what your launch plan should be. You can find that in the description of this video. But the important thing to know is that if you get to 100 sales a day, you now have the foundation of a business that you can scale over the next several years or sell for a million to $2 million and, and have enough to be able to take advantage of this window of opportunity where everything is on sale. The slow way to become a millionaire is to put 1500-2000amonth into an S&P 500 index fund, and you're a millionaire over a couple of decades. The fast way to become a millionaire is to start a business, get it profitable, and then either sell it or invest those profits into things that are going to grow over the very long term. You can wait 30 years, or you can double down when everybody else is scared. And you can take advantage of this window of opportunity that is, in my opinion, the fast lane to becoming a millionaire. You are going to hear a lot of bad news over the next year. You're gonna hear recession, you're gonna hear depression. You're gonna hear all kinds of investment gurus telling you how everything is about to fall apart. It's already fallen apart. Some of the best companies in the world, like Scorpio Square and Alibaba, have already fallen 80%. We're already in it. In my opinion, the worst of the downside in the investment world is over. But people are going to hold on to that panic for a very long time because we've fallen a lot and we're spoiled from 10 years plus of really good economic growth. And as a result, we're going to have several years in which the headlines are going to be negative. People are going to be scared. Scared. Don't fall in line with them. You hear people call each other sheep for listening to the media. Don't be a sheep and listen to their negativity when they tell you that there's no more opportunities and the job market's about to get worse and asset prices are falling when everybody else is fearful, Warren Buffet says that's the time to get greedy. Your first step in the Warren Buffett playbook is to start a business that gets to 100 sales a day because that makes you a million dollar business owner. And then the second step is to aggressively buy great companies and other great assets that are on sale at discounts that you may never see again in your life. 30 years from now we'll look back on this time and say wish I would have gotten in right then. Just like you look back at the COVID bottom and say I wish I had bought stocks and e commerce businesses at that point. You look back at 2008 and you say, oh, the Dow is 6000. I wish I had bought things then. That's going to be what this window of opportunity is. Most people will miss it. Don't be like most people. I'm Ryan Daniel Moran. I help entrepreneurs build million dollar businesses. If you want more help, subscribe to the channel and you can find our resources in the description of this video. Thanks for watching. I'll see you next.