Since we started writing this newsletter, I have always talked about opportunities in the world.
We’ve talked about how you could grow your business, how you could think about your investments, and how you could become a better entrepreneur.
In other words, we always thought about how to best go on the offensive.
Offense, after all, is how you go further in life – by going after something you want.
Today, however, I want to talk about defense.
Given where things are going in the world, I thought it would be valuable to pause and make sure our defenses are fortified.
Here is what I mean.
Over the last two months, we have time and time again seen scenarios unfold we once thought were impossible.
Forcing two billion people to stay at home? Impossible.
Closing borders between European countries? Impossible.
Pumping trillions into the global economy? Impossible.
Yet all of these scenarios have happened in just a few weeks - and many more are likely to come.
What this means for us is that we need to be prepared for anything going forward – no matter how strange or outrageous it might seem today.
Don’t get me wrong – I am not a doom and gloom kind of person. I know that humanity will come out of this eventually. And we’ll be much better prepared to tackle the next pandemic.
But it would be naïve to only assume one scenario is likely, namely that things will go back to normal in a few weeks.
It’s truly what I hope will happen – because outside of the comfort of our living rooms, Netflix and social media, millions of people in the developing world are going hungry.
But given how things have evolved over the last two months, it’s important to objectively consider all the different scenarios we could face in the future – again, even if they seem ‘impossible’ – and prepare for them.
There are a handful of things that could happen. Things could get better in a few weeks. Or maybe in a few months.
But the pandemic could also drag on for six months, a year, or more. And that could have substantially deeper effects on the global economy and the social fabric of society itself that most people just aren’t considering right now.
The question you have to ask yourself is this: are you prepared for whatever’s coming?
Humans have a tendency to ignore stories or facts that contradict their existing view of the world, and what they believe will happen. We all do it.
But now, more than ever, it’s important to open yourself up to consider scenarios you don’t like, and that you don’t wish for.
You need to become a realist so that you can be prepared – whatever happens.
The reality is that things could get still get a lot uglier before they get better. And any assistance from governments could face serious hiccups in their implementation (governments don’t exactly have a track record of impeccable efficiency).
That means many more businesses could go bankrupt, and a lot more people could lose their jobs.
That being said, there are some simple steps you can take right now to make sure you are resilient.
Have some cash on hand, in case you lose your job, source of income or the government check comes late. Six months’ worth of basic expenses at least would be ideal, if not more.
Stock up on some food, in case food supply chains suffer further damage (two months’ worth is ideal).
And reach out to people in your community – your neighbors, your friends, your family – and make sure to let them know you have their back.
Every additional day in isolation takes a toll on people’s mental health – and for many, every day without a paycheck increases their financial stress, which only further damages their mental health.
Again, Wiet and I are not doom and gloomers – at all. But we understand the need to be prepared – for both the good times and the not so good times. The next couple of months could be some of the latter.
To that end, we are preparing an in-depth report that we’ll send you, totally free of charge, to help you fortify both your defense – and prepare for the offense that comes with every crisis.
It’s our way to give you something during this difficult time, as a token of appreciation for your loyalty and readership.
You’ll receive it next week directly in your inbox.
In the meantime, we wish you to stay safe.