hal elrod htrive in the next recession

435: 4 Strategies to Thrive in the Next Recession

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Learn new strategies. Don't reinvent the wheel. Get help from people that have gone before you.”

Hal Elrod

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If you were to lose half or more of your income in the next few months, what would you do?

I ask you this question because that’s exactly what happened to me during the Great Recession of 2008, and many financial experts are forecasting that the next recession could be right around the corner.

Today, I want to share with you the four (4) things I did in 2008 to turn my financial situation around and literally double my income (in only two months) at the height of the Great Recession, so you can be prepared to do the same.

In today’s podcast, I want to share the story of my financial journey. Then, I want to present four strategies you can use to thrive during a recession, what I’m doing now to prepare for a potential economic downturn, and how you can use these same techniques to thrive no matter what happens!

KEY TAKEAWAYS

  • How a listener’s critical comment inspired me to record today’s episode.
  • My financial journey from painting decks at 9 years old to becoming a full-time entrepreneur. 
  • Why it took me many years to establish a meaningful passive income—and the experiences that taught me the value of thinking outside the box.
  • Why my coaching business fell apart in the wake of the Great Recession and led me to the concepts and ideas behind the Miracle Morning.
  • The ONE question I asked in 2008 that I’m asking again now.
  • How optimizing your mindset, learning new strategies, asking for help, and getting creative can help you establish new sources of income, even during a major economic recession.

THIS EPISODE IS BROUGHT TO YOU BY:

Organifi makes the highest quality nutritional products, which are made from whole food ingredients (not synthetic vitamins) that I enjoy nearly every day, and have for many years. Visit Organifi.com/Hal, and use the code HAL at checkout to get 20% off of your entire order. I hope you find something there that you love! :^)

Rise by CURED Nutrition is a natural supplement made from CBD, Lions Mane and Ginseng (among others) that helps boost energy, performance and cognitive function. There’s no caffeine, no jitters and most importantly, no crash. Visit CuredNutrition.com/Hal and receive 20% off of your entire order. They have tons of other products as well, hopefully you’ll find something that works for you. :^)

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4 Comments

  1. PaTricia on June 22, 2022 at 3:51 pm

    Thank you, thank you, thank you! I’ve been blessed to be able to keep up with God casts and posts since being forced to resign a 20 year career because of an injury sustained at work due to no fault of my own. I struggled with my MM for years and now blessed to spend as much time as I want perfecting it to make it my own with the goal entering a new and amazing chapter. I feel you handled the pas comment very graciously. This podcast and others have blown me away inspirationaly, please do not stop and do not alter your style. We are all different and have good days, bad, overwhelming at times, etc. I’ve been there but after studying with Jim Rohn I think differently. I also purchased your app which I live especially the alarm sound!!! Hopefully you will keep your ap subscription affordable because I would live to try it. Good luck and Thank you again for guiding be back on track.

    • Hal Elrod on July 16, 2022 at 4:18 pm

      Hi Patricia! I’m so grateful that my podcast has been inspirational for you, and thank you so much for your thoughtful, encouraging comments!!! :^)

      Oh, and we’ve been trying to figure out the subscription pricing, and we decided we are going to offer a range of affordable pricing and allow each person to pick the price that they think is fair. So hopefully that’s affordable for you!

  2. Bidhan Chandra Mondal on June 24, 2022 at 6:18 am

    Very good

    • Hal Elrod on July 16, 2022 at 4:16 pm

      I’m glad you enjoyed it!

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