Starting up on the eve of a recession

Hi There ,

I’ve just purchased the course and I’m diligently going through it. However, my father-in-law (a financial adviser) has repeatedly stated that all indicators are that we’re on the verge of a huge financial crisis - the likes of which would make the last one look like a small hiccup!

So I have 2 questions:
What is the strategy that one uses to make sure they can weather a recession in this business?
What financial thresholds should I be looking at (e.g. should base rents be 15% rather than 20%)?

Ideally I would like to go into this business knowing that I’ll still be making money even if here is a recession.

…your thoughts??

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While I would respect the opinion of your father-in-law, I would suggest you get a second opinion on the recession. No one can accurately predict the future and not everyone believes we’re heading for a recession. Often our own biases go into our beliefs, so the proverb “plans fail due to lack of good advice” remains true.

That said, you should always run your business with resilience in mind - whether we’re heading to a recession right now or not.

Hope this helps!