It's normal to be fearful right now — especially as an entrepreneur. Drastic events are occurring in the market.
Banks are clamping down — big time.
VCs are writing very few checks.
Simply put, this is NOT the time to be wasting money as a company or as a human being. We're urging our founders to think twice about ordering Starbucks or Postmates every day, or upgrading their car or television set. It's a simple mindset shift.
It may feel like these small dollar amounts are only a drop in the bucket. BUT, these new spending habits will help you become a more disciplined spender, entrepreneur, and leader, which, in and of itself, is an incredible learning and growth opportunity.
But here's the upside opportunity in all of this:
Train yourself to become very thoughtful about every dollar that you have and your ability to make more dollars in the coming months.
Alter your lifestyle as needed. Instead of going out to another fancy dinner this month, invest a little bit in learning a new practical skill. Instead of ordering Starbucks every morning, make yourself a green tea at home and end your coffee habit.
Be practical. Stay disciplined. Take this opportunity to better your life and your business.
Last week, Gary Vaynerchuk joined us on The Founder Hotline to answer a bunch of deep, challenging questions. Here's a TikTok clip sharing what he had to say about preparing for the recession:
