- Alex Hormozi joins EllioTrades’ latest YouTube video to discuss the incoming recession.
- He said that he is looking forward to making the most out of the recession.
- He shares a checklist of skill sets that will help people establish themselves regardless of market conditions.
“If you’re afraid of going into the recession, that’s a ‘you’ thing because there are people who are stoked to go to the recession.”
Hormozi is a very successful businessman who scaled this business to earn five figures. Currently, his portfolio helps him earn $100 million every year in revenue.
When asked what he believes is the right way to start for someone looking to make the most of the recession, he mentions “evidence transfers,” and doing things that people know they are good at for certain.
He adds that if it were up to him, he would buy would purchase into opportunistic big companies which went from 50 million toplines to 38 million toplines, for instance. Then, over the course of the next 5 to 10 years, he would maximize the most out of those businesses.
He shares that if he had access to a big sum of money, instead of investing in stocks, bonds, cryptocurrency, and additional assets, he would use the money to add more skills to his skillsets, which will help him earn more perpetually.
Furthermore, in a recessionary economy, Hormozi agrees that there are three major functions in a business including, promotion consisting of marketing and sales, the product, in addition to people, recruitment and operations.
He stresses that picking a skill people enjoy, learning it and mastering it is a checklist of skills that will bring about success.