Dear LinkedIn Connection, I see lots of rich folks drinking, eating and laughing from their cozy mountain tops.
In their wealth infatuation, screaming to us startup climbers "RECESSION ALERT, GOOD TIMES COMING TO AN END!"
Don't let their drunken stupor or their lack of concerns for their younger selves affectyour mindset. It's their survival mechanism's way of telling you "I'm better than you", sothey can keep the upper hand.
Let's ignore them for a while, shall we? And continue climbing Everest. After all,additional side winds is the last distraction we founders need, atm.I have a couple of thoughts for you, regarding this upcoming recession. Sound ones. Notself-serving piece of trashes thrown from cloud 9 by the gods of greed. So here we go,my 2 cents on the recess.
1. It's happening. Doesn't mean you need to freak out. Accept it, get the facts. Reactaccordingly. Stoicism is likely to be the predominant philosophy in these times. Start practicing it again. But more. Don't take cues from the afraid herd. They will shit theirpants, you won't. You will stay calm, steady, and act on facts. Not on Reddit posts orbourgeois peeps bourgeoising together on a fancy podcast. Stay grounded, stay alert, stay upbeat. Surf the wave.
2. You've been through plenty of these already. Different beast, same forest. Chill.
What gets to your brain is fear of the unknown. The alien. Just like when I was climbingel Pico de Orizaba, Mexico's highest mountain. I'd get vertigo when I'd look down, butalso when I'd look up. My brain was in an alien environment. But I kept going. "This tooshall pass". Idk about you, but I had to pivot 80% of my business at the beginning ofCovid. No nets, no government parachutes, no nothing. Adaptability is the #1 skill in lifeand in this market. If you've got it, you're safe. If you don't please learn this skill, the hardway if possible (now's the ideal time), as this will cover you pretty much forever, in afuture market crash, or even, when apocalypse hits.
3. And yo, why the heck should this pass if I'm having fun? For flippers like me,these are the good times. We go out in the rain while most stay in their pain cave. Thepain cave is a choice. Hunters, real business peeps, merchants, opportunists, know thatthese times are Klondike type of events. It's a treasure hunt. Why follow the gloomy herdwhen you can climb the mountain top, observe, and then wing suit yourself down toglory, while catching a couple of golden gooses on the way there? That sentence wastoo long and semi-nonsensical, and so might be this recession. I'm saying let's just havea good time in the meanwhile, as the choice does present itself. :)
4. Worse case, this will make a nice movie. Every time I face hardships in mybusiness or in my life, I always tell myself, "this'll make great content". Humans fuel onstories. The more "bads" you face, the better stories you'll tell. Yes, you judoka the BSinto money, literally. Any great content creator knows this. If you face your clients, thismeans more stories to sale. Life teaches you that there is a rainbow behind every storm,and that granted the proper mindset, every negative is a positive in disguise. Breathe,smile and be grateful. Serious/unhappy people suffer the most in crisis. The game is not anymore about directly winning, and comparing. It's more about "How can I maximizemy gains in the current circumstances?" or "What stories from possible hardships can I get in the bank?". Think different.
5. The nature of markets is cyclical, this is only meant to last a couple months. The ride will be short. Meaning, if you're "the suffering type", it won't last for long. Although, ifyou don't master your mindset, this may seem like an eternity. "Are we there yet?" Don'tbe that child. If you're the loonie type like I am, this is only a 6-12 months window ofopportunity. In the ladder case, you'll need to stay hyper alert to hook a huge tuna, or alucky whale, that might feed you for a lifetime. Identify opportunities quick (underpricedassets) and act on them even quicker. Get the data, yet let the gut decide. You decide which captain you want to be.
To me, the mental cost of being a scared, inactive soul vs.a King Kong on the hunt is quite easy. It comes natural. My personality. Most of youbeing entrepreneurs, you will relate. My point here is, don't become calm andsubmissive from the advice of outdated investors if you are a natural powerhouse. Letyourself be, and even amplify it.
Let's get hunting. And let's get on top. Now.