Episode Details

SNM196: Recession-Proof Business: How to Test Your Business Upgrade

Published 6 years, 1 month ago

Key Takeaways:

· Don’t rely on one singe traffic source, one person, or one product

· Always choose a market that offers a lot of opportunities and is always expanding

· Variety is your best friend

[14:35] The dangers of massive investments explained

· Why having a short financial cycle is very important

[17:50] The drawbacks of having a complex business

· How moving parts can make your business vulnerable

[20:55] Competition

· How competition can harm your business especially when starting out

[21:50] The danger of selling only luxury goods

· In terms of a global pandemic, no one buys fancy stuff: survival mode on

[25:52] Single point of vulnerability

· Explained + tip

Sponsor – ConvertKit servenomaster.com/convertkit

Resources: Black Swan Book by Nassim Nicholas Taleb

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