Do Not Start Your Business During A Recession

We're going into the last quarter of 2022, and everything is happening right now.? From Kanye West paying $200K per month(allegedly) for child support to Elon’s Musk, let free speech reign on Twitter.

I want you to unlearn what you have been told about starting a business during the rescission.?

Here is what we know, home prices are dropping but interest rates are increasing. The cost of money is exceptionally high right now.? $100 would usually buy me a couple bags of groceries. Now I come home with a loaf of bread, eggs, milk, butter and some type of meat, wondering what did I spend my money on?

Even with all of that, I still say do not start your business during this recession.?

Unless you have these 3 must have when considering starting your business, you are not positioning yourself for future success.

While working in the aerospace industry for the last 20 years, I have always coached mentees to think about any task they are on, as if they are the CEO of that assignment.? Once you believe that you have ownership, you work differently, you think about the end game vs putting a checkmark on a task completed.?

Am I right?

Last year, I was able to retire last year at the age of 44. Yep, it ended after 22 years of being in corporate America, with a degree in engineering, MBA, and a MS in Systems Engineering.

Let me be clear, I started my business in 2019. before I retire from my corporate job. I wanted to have more opportunities for income streams because I wanted to have more options for myself and my kids' future.? I went into business doing what I had been doing for years which was leadership development and coaching.? It was an easy transition that did not require much of my time.

However, these are 3 reasons why you should not start a business during a recession.

Reason 1: You are looking for a quick fix.?

Starting a business takes time. It is a marathon not a sprint.? It? requires time to learn your industry, perform trial and error and relearning some things that you learned in the past.? If you are looking for a quick fix, you need to start where you are.

Reason 2: You have passion but no direction.

I'm just going to let you know this right now. Being passionate about an idea is not enough to start a business.? You need to have direction and that comes from coaches, mentors and training courses. If you are not willing to invest in yourself as you did working for someone else, then you are not ready to start a business.

Reason 3: You are not willing to invest in a coach, mentor or paid training.??

You do not want to pay out of your own pocket and purchase the knowledge that you need to start your business. You can watch all of the free training that you want, which could prolong your ability to act and learn faster.? New knowledge requires new learning.

Starting a business can be very rewarding.? Anything that we have brought from a business or company, the originator started as an entrepreneur with a dream to impact and change the lives of others.

Do you have the capacity to invest in yourself? Better yet, believe in yourself.?

Your Sis in Prosperity,

Ucheonye Maple

Note: Join My 3 Day Master Class, 30 Days to an Epic Business Launch (FREE). CLICK HERE