How to prepare for a recession:

Assume you’re getting laid off

You’re most likely not

But sometimes this is what you need for that boost of focus to increase cash flow and inject new opportunities in your back pocket

This is your wake-up call

Build bridges

Meet 2+ new people per week for coffee

Ask them what they are working on

Project sound cool?

Ask them if you can help

Take cash or equity or tokens or a mix.

Launch a business that generate $1000/month in 2022

Dream ridiculously big, but ok to start small

$1000/month is attainable

Do the $1000/month challenge with other friends who want to build. Will keep you accountable

You got this

Launch a minimum viable community (MVC)

Community unlocks potential

Being a leader of a community is incredibly valuable (and fulfilling)

You can sell products, services or NFTS to them (for profit or non)

More on MVC with @alexisohanian on our pod

www.youtube.com/watch?v=_uPRruLfZoU&t=2s

Buy a business

Always easier to buy over build

And during downturns, there are an abundance of deals worth buying

Step 1: find a business worth buying
Step 2: create a fair deal for investors
Step 3: dial for dollars

Make the jobs to be done framework your friend

Too much money can make us lazy

The “jobs to be done framework” will keep us honest on shipping products with high likelihood of success during a recession

Invest in yourself

A true warrior relies on him/her/their self. Its the only thing that can't be taken away

Sharpen your blade and it’ll gives you creative juice to ideate

We created Dash product challenges for product designers to hone their skills

dash.careers/

Publish your work

Step 1: update your portfolio
Step 2: add you’re open to freelance work or learning about new opportunities

Keep your spirits high

Don’t get swept into the bad energy of a downturn

That’s the most dangerous part

Your confidence is key.

TLDR; how to navigate a potential recession:

1. Reduce costs as much as you can
2. Keep spirits as high as you can
3. Ship products consistently
4. Do the $1000/month biz challenge
5. Consistency hone new skills
6. Update your portfolio and personal website
7. Meet new friends

Follow me on Twitter @gregisenberg and join the 30,000+ others who subscribed to my newsletter for community-based product/web3 startup ideas

latecheckout.substack.com