Download or read book Recession Is Opportunity written by Patrick Duong and published by . This book was released on 2018-12-20 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recession is Opportunity Learn how to prepare and win big with the next recession. During the Great Recession, eight million Americans lost their jobs, four million homes were foreclosed each year, and two and a half million businesses closed from 2007 through June of 2009. How did the recession affect you, your family, and your company? "It's a recession when your neighbor loses his job; it's a depression when you lose yours." - Harry S. Truman Most people think of recessions as being all bad. Truthfully, for most people, they are a time of cutting back on spending and attempting to make more conservative purchasing decisions. Though for a select group of industries, a recession may lead to an increase in business, perhaps even an opportunity to thrive or grow the businesses extensively. If you let history be your guide, success, and failure both leave clues, particularly during a recession. In this book, you will learn the following: ▪ Connect the dots and what gave birth to the Great Recession. ▪ Protect your family and the company you worked so hard to build. Don't let a recession take it all away from you. ▪ Protect your life savings from your kid's college fund, pension, retirement plans, and so forth. ▪ The health industries were affected very little by the recession, how and why. ▪ Grow and scale during tough times. ▪ Why you should go all-in during a recession and not play conservative. ▪ How the recession affected Millennial's, Gen-Xers, and Baby Boomers. "It is better to be prepared for an opportunity and not have one than to have an opportunity and not be prepared." - Whitney M. Young Are you a business owner? Would you like to learn the following? Pay yourself: Pay yourself well so you can serve more people and have time for family and other things in life. Sell: Bring the money in the door. Sell the right things to the right customers. Price: Price so that everything you do is profitable. Spend: Spending by plan keeps more in your pocket. Hire: Hire and keep good people to boost your business and profitability. Manage: Manage your money like a fine tool; watch your money like a hawk. Profit: Plan for profit, not just revenue. Keep your cash flow positive. Protect: Protect and preserve your hard-earned money from all risks. Save: Build a cushion for tough times and a fund for growth. Borrow, invest: To grow and take advantage of opportunities, use debt and investment capital prudently.