Should you cut costs during a recession? That's the million-dollar question quite literally. In short, the answer is yes. You should audit/cut costs during a recession only if they are the right ones. Consider this an opportunity to get your ducks in a row and become more thoughtful about your investments.
On this week's episode, Dustin Brohm throws Realtors a life preserver in hopes to save them from a mountain of headaches. Many agents that have entered the industry in the last ten years have yet to experience an actual recession, resulting in a lack of preparedness. The reality is you need to be ready to pull the plug on certain costs if you do not see a return.
Inflation is not showing any signs of slowing down soon. So, If you are frightened by this, change your perspective. Rather than "keeping your powder dry," recognize that there is less competition in a market like this. When people step back, that's when you lean in and double your spending on what is working, and cut out what is not.
Mentioned in this episode
The 10x Rule - Grant Cardone
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