There is a lot of talk these days about the economy – specifically, the talking heads are saying that we are in an economic bubble that is about to burst. The problem is that most people who are talking about it have something to sell. They’re hawking their “solution” to the problem. So what’s the real story? Can you even know? On this episode of Freedom Fast Lane Ryan is going to tell you why it doesn’t matter if we’re in an economic bubble or not – and what you should do either way, so be sure you listen.
Where is the greatest opportunity, no matter what the economy is doing?
Whenever there is a lot of speculation going on regarding the economy you need to be careful. Nobody knows the future so it’s dangerous to take anyone’s advice as gospel. But one thing you can be certain of is this: in every economic climate there are opportunities that can be found and you need to be looking for them. THAT is where you’ll get the best return on your investment and where you’ll find yourself able to leverage profits to build even more revenue. Where are those opportunities right now? Ryan tells you what he thinks, on this episode of FFL.
Why “Are we in a bubble?” is the wrong question.
It really doesn’t matter if we are in an economic bubble or not. Don’t misunderstand, you need to know what areas of the economy provide opportunities, but you don’t need to worry about a crash. Instead, you need to figure out where those opportunities are and get busy making the most of them. Right now, that seems to be in the realm of business. Find out why Ryan is not making many stock investments or real estate investments right now and is instead, doubling-down on his own businesses.
Why you should double-down on your business, or build one if you don’t have one.
There are areas of the economy that have historically been very profitable – real estate, for example. But in times where the market is incredibly high and the professionals in that niche are working hard to maximize returns, it doesn’t make much sense for you to step into the market with an expectation that you can find great opportunities. Instead, you’ll be better off working toward something you have a much greater degree of control over, your own business. On this episode Ryan tells why building your own business is the smartest move and what you can do to maximie your profits once you get it rolling.
Higher margin products could be the next step for business profitability.
Toward the end of this episode, Ryan fields a question from one of his students about how they can build on the current success of their company. At $200,000 in sales per month this company needs something significant to focus on and Ryan gives them just that. His advice is that they find a product with a higher profit margin. That will enable them to build a broader customer base, make buyers into customers, and gain additional income they can roll into marketing in order to create greater exposure and bring in new leads. It’s one example of the kind of expertise Ryan gives his students regularly so listen to find out how you can get in on the FFL Bootcamp and learn how to build your own business.
Outline Of This Great Episode
- [0:16] What you can expect on this episode.
- [1:13] Are we in an economic bubble?
- [4:32] The number one investment you should be making now.
- [5:00] The first place to go to sell an ecommerce business.
- [6:57] The best way to generate traffic to a new business.
- [9:46] The next step for an existing business: a coaching tip.
Action Steps From This Episode
FOR GETTING STARTED: Get your mind straight about financial gains: you don’t need to worry about whether the economy is going to tank. You need to assess where the greatest opportunities are and get busy there. For most people, that’s going to be in building a business.
FOR GREATER SUCCESS: Create product options that have higher margins. It will enable you to build your customer base, make buyers into customers, and gain income you can then roll into marketing.
Resources Mentioned On This Episode
- Freedom Fast Lane TV
- www.FreedomFastLane.com/sell – does Ryan want to buy your business?
- Mommy Knows Best
- TNT Pro Series
- www.FreedomFastLane.com/bootcamp – get your business started!
Connect With Freedom Fast Lane
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P.S. Tickets for this year’s Capitalism Conference (Formerly Freedom Fast Lane LIVE) are now on sale. Go get your tickets here!