727: Rock the Recession: Reinvent Yourself, Start That Business or Pursue Gig Economy Side Hustles with Jonathan Slain

Jonathan Slain is a consultant who survived the last major recession by borrowing $250,000 from his mother-in-law. He is the co-author of the book "Rock the Recession" and the founder of the website recession.com. Today, Jonathan discusses strategies for preparing businesses and individuals for the upcoming economic downturn. He emphasizes the importance of benchmarking readiness, building relationships with banks, and seizing opportunities that may arise during a recession, such as acquiring assets or businesses at discounted prices.

Jonathan coaches high growth leadership teams across the United States to implement the Entrepreneurial Operating System® also known as "Traction." He focuses on working with entrepreneurial niche/specialty firms and large corporations ($10M+ in annual revenue), spending over 100 days per year working with teams just like yours.

In this episode of Marketer of the Day, Slain shares actionable strategies for preparing for economic downturns and turning them into opportunities for growth. He emphasizes the importance of benchmarking business readiness through the Recession Readiness Assessment on recession.com, creating an emergency financial plan, and cultivating proactive relationships with bankers and business owners. Slain’s book, Rock the Recession, along with its companion workbook, offers practical guidance for solopreneurs and small businesses, helping them identify opportunities, manage risk, and position themselves for success. Key takeaways include improving weak areas of business readiness, monitoring cash reserves, and approaching opportunities actively to maximize potential gains during a recession.

Quotes

“Recessions are massive opportunities if you know where to look and prepare yourself.”

“Preserve your best options; otherwise, you might be choosing your least bad option.”

“Have 10 conversations with 10 potential opportunities, and maybe one or two will end up being great deals.”

“Benchmark your readiness, improve weak areas, and position yourself to rock the recovery.”

Resources

• Recession: Need proven strategies to help you Rock the Recession? Ready to thrive instead of survive?
• Get a copy of the book, Rock the Recession: How Successful Leaders Prepare for, Thrive During, and Create Wealth After Downturns by Jonathan Slain & Paul Belair on Amazon
• Connect with Jonathan Slain on LinkedIn

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Filed in: Archive 3: 2018-2020 • Interview • Podcast