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How to Get Wealthy in a Recession

The fact is, by the time you’re reading this it doesn’t matter if we are in a recession or not.

This post will help out anyone, anywhere, at any time.

But it’s more important during a recession than a boom.

Why?

Because in a boom the optimism is there. Everyone believes they can make money so they go for it.

A recession is different. People tend to lock themselves down as the media tells them that everyone is going to suffer.

The advice the big money boys generally give is to store up your money in things like index funds that can return you 6% a year.

The problem with that is when inflation is 8% then you’re losing money.

What real wealthy people do is stack paper no matter what economy we are in.

Bull market? Stack.

Bear market? Stack.

Boom cycle? Stack.

Recession? Stack. Depression? Stack. Nuclear war? Stack.

The fact is that there is always money out there so then the only question becomes if you’re going out there to get it.

If so then read ahead and let’s get started.

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There is a common to making money online.

The Common Truth

The easiest way to make money is by following a common truth.

This means something that holds true no matter what the economy looks like.

That way if you’re following it then you don’t need to worry about what crazy Jim Cramer says on MSNBC. You just stick to the gameplan.

So what is the common truth about making money?

Everyone is willing to pay for the upgraded version of themselves.

There are a lot of different ways to say this, but the gist is that people are always looking to improve in some way. It’s what they want.

And if you can give them what they want then they’ll pay for it.

That’s the common truth that will make you money no matter what economy we are in.

1. Picking a Niche

You’ve probably heard this advice. You need to pick a niche.

But think of this advice along with the common truth.

When you pick a niche, what you’re really doing is picking an audience where you can understand who they want to become.

The more you understand WHO they want to become, the more money you will make.

Why?

Because you’ll do a better job of speaking to them. You’ll tell better stories that reach deep into their soul.

You’ll sell without selling.

But how do you pick a niche?

I’ll make it easier for you.

Stick with one of the three major areas:

  1. Health
  2. Wealth
  3. Love

I call these major areas because there are 1000s of sub-topics within each.

For example, my brother creates offers around how to grow on TikTok.

If you can grow an audience on TikTok you stand to make more money.

When I talk about health, wealth, and love, you don’t always have to explicitly say “I’m going to help you make more money!”

The people you’re talking to will know what they need to do to make more money or get healthier or find love.

The 4th Area

Do you HAVE to pick something within one of those areas? No.

I was just trying to make your life a lot easier.

There is a 4th area, but it’s a bit nebulous.

It’s the Irrationally Passionate.

MILLIONS of topics fall under this.

For example, you might not understand why people are fascinated by Pokémon Go, but you know people are.

So much so that they will pay to get a leg up on things.

The problem with irrationally passionate is that not every niche under it has people that are willing to spend so you’ll have to do your research.

2. Help the Desperate

This sound terrible, right?

The reality is that people usually only spend money to better themselves once they are desperate.

And it makes sense.

We don’t WANT to spend money on things so we will actively look for ways to get better without spending.

Sometimes we succeed and sometimes we fail.

If we fail we make a decision to give up on the pursuit or to push forward. We might push forward with a different tactic and fail.

We might do this for years until we throw our hands up in frustration.

You want this thing so badly but you can’t figure out how to get it.

That is until someone comes along with the perfect solution for you. You sprint to them with your credit card.

You’re ready. Let’s make this happen.

The issue that many entrepreneurs face is that they are trying to sell to people that aren’t ready.

It’s pointless and frustrating.

You can do everything right, but because the person isn’t ready they will not take action and it’s not your job to trick them into taking action.

Your job is to find the desperate and help them.

They’re waiting for your help right now.

3. Show Up for Them

This is the most important step in my opinion.

If you aren’t showing up for the people that need your help then how can they trust you?

If you only appear every once in a while and another person shows up consistently then who is going to win?

It’s amazing how many people I’ve worked with who have done 100 days of blogging, writing emails, or doing TikToks only to have something take off on day 101.

You can’t control outcomes.

You have no idea when you’ll finally pick the right message that will hit the right person at the right time.

You can’t control that.

The only thing you can control is you showing up.

Pick a platform and show up for your people.

How Often Should I Post?

It doesn’t matter the platform. This is a universal question.

How often should I blog? I often should I post TikToks? I often should I publish YouTube videos? How often should I send out an email?

There is no correct answer.

Find your groove and then be consistent.

At the start of your journey I like to advise people to push out as much as possible. Not because it means the platforms will love you.

But because you’ll get more data points back showing you what works and what doesn’t.

That’s how you’re going to succeed with this thing.

It’s very easy to think you have the perfect message at the beginning only to find that it is falling flat.

Then something magically happens on your 37th video. You decide to post something quick and it catches fire.

You realize what message is hitting with your audience and it’s like seeing with glasses for the first time.

But you can only know that by getting stuff out there.

4. Offer Them the Transformation They Want

And now you can start making money.

How?

Remember the Common Truth?

That hasn’t changed. If you can create an offer that promises to provide them with the change that they want, then they will buy it.

And as long as that promise is fulfilled, they will tell other people about it.

My good friend Marybeth Santos helps people create digital products to sell.

You never need to start with anything big.

Write a 50-page book in a month and sell it for $29.

Write an email course over the weekend and sell it for $99.

There are a ton of different things you can do.

What Do You Do With No Skills?

Some of you reading this will believe that you don’t have any skills or knowledge to teach people. You can’t help them because you don’t have anything.

Instead of arguing with you and trying to go through your whole life experience I suggest you devote just one month to a specific skill.

For example, you could spend a month mastering Google Docs. It can’t be that hard.

There has to be enough YouTube videos or cheap courses to help you out.

And from there you can create some type of offer around it as long as you know who you are talking to.

Ready to Dominate the Creator Economy?