This is not the time to give up or put out the 'closed' sign. This is the time to dive deep into your business strategies and find ways to pivot, enabling your business to prosper during and after the Coronavirus.
Today's guest, Steve Richards, of Redevelop Indy, has proven that he can pivot and thrive during tough times. He saw the slowdown approaching in 2006 and changed his wholesaling strategy to flow with the market decline in 2008. This decision led him to build his business during a downturn when everyone else was losing their shirt. Due to his foresight, he was not only thriving during a crisis, but he was also building his business to multi-million dollar proportions. The lessons he learned are invaluable in today's COVID-19 world.
This episode covers a lot of ground, and not just from a business strategy standpoint, but also from a mindset and life perspective. Because when you are struggling with your business, especially if you're an entrepreneur, your life is struggling as well. Steve and I want to help as many as we can get through these tough times and come out the other side stronger, happier, and wealthier.
Learning on the job
How Steve transitioned from his tech company to running a turnkey fix and flip to investors business.
The real estate investing business model Steve designed when he learned what didn't work
How he saw the slowdown of 2008 coming in 2006 and how he pivoted his business strategy to profit when everyone else was losing money
How to spot the opportunities in a crisis situation
How he built a multi-level business that included a management company, client services company, a construction company, and a brokerage
What Steve did when he realized the business he built was selling his soul one piece at a time and knew he had to make significant changes to his business and life
What you can do when you've reached your goal, but you no longer want the same things
The 3 things that changed his life and business forever
Why and how your core values should be the basis of your business
Steps to take to understand what you truly want from your life and business
You have to deal with your stress because it will kill you.
Therapy is like going to the gym or eating right, it's about being healthy
Business during the Coronavirus: How to realign your business with the market changes
Thoughts on how the Coronavirus will change business for years to come
5 steps you can take right now to strengthen your business
Practical advice on keeping your overhead low
The 90-Day Bubble Strategy
Tips on how to handle disruptions with ease
The 4 questions to ask yourself to identify your core priorities and who you are