Hey there!

I was so swamped yesterday!

Once I was done with the live boradcast on HPEN.

All I wanted to do was hug cuddle up to Vivian and snooze...

Unfortunately...

Vivian was working...

So I had to settle for my pillow...

Not quite the same...

But...

How. For. Do?

Anyways...

All is not lost.

I'm starting the series I promised...

I thought about calling it recession proofing your business..

But there's so much about that...

And I hate being like every one else...

So I decided that focusing on not suffering when every one else is...

Would probably be the way to go...

So everyday for the next 5 days...

I'll share a few thoughts with you...

My focus here would be purely tactical...

I'll deal with the mindset stuff later...

But right now...

It's all about what to do.

No only will this information KEEP YOU FROM UNNECESSARY SUFFERING.

It will also give you a major competitive edge.

STEP 1: STOCK UP ON CASH

Someone brilliant....

AKA Me...

Once said...

This COVID 19 situation is nothing but Opportunity in Wolve's Clothing.

I agree...hehehehe...

The opportunity however isn't outside you...it's inside...

But that's conversation for another day.

The point today is that in order to take advantage of opportunity when you

recognize it...

You have to be prepared...

And whilst we might understand that mentally...

The truth is...

We hardly ever do anything about it...

We're a bit like the guy who sees a molue coming and then turns round to back

the molue..

Assuming that just because I'm not paying attention to it...

It will sort itself out...

Newsflash Darling: IT WON"T.

So what do you do instead?

Well first...

Commit to making as much money as possible...

As quickly as possible...

And as ethically as possible with your business...

That also means...

Being flexible enough to change what you're offering to suit the current needs of

your clients...

Sometimes in this space we fall in love with the wrong things...

We fall in love with our products and services...

Rather than falling in love with our clients and market.

Second...

Remember Parkinson's Law:

‘Work expands to fill the time available for its completion’.

Have you ever noticed that if you have an hour to complete a task..

It takes an hour?

Whereas if you’ve only got five minutes...

You somehow manage to get it done in that time?

That’s Parkinson at work.

The concept also applies to other areas.

Take weight loss for example.

I tend to eat whatever is on our plate.

I consider it my life mission to always lend a helping mouth.

Relax...

I'm kidding...

Or...not...

Anyways...

If we simply make the plate smaller...

We will eat less without noticing any difference in satisfaction.

Again, that’s Parkinson’s principle at work.

Now...

If you want to apply this to your money...

It’s important to recognize you are likely to spend any cash that’s available.

The way around that is to have a plan in advance for the money that comes to you.

Here's how I do it:

First off...

I have different bank accounts for different things...

I have a bank account for receiving money...

Every cash I get goes into that bank account and no there one.

I have a bank account for storing my profits/business savings...

So if I have a product I sell for 100k and my profit/or savings commitment on it is 10k...

Once the money comes into my main account...

I send 10k to my profit/business savings account...

I have an account for my personal income...

That means I pay myself an allowance from my business...

Generally for my expert business I work with 50% of my earnings

being my personal income...

So once money comes into my personal account...

I move my 50% to my personal account...

I have an expense account...

I cap my expenses at 25% of my revenue...

So once money comes into my main account...25% goes to my expense account...

I separate personal expenses from business expenses...

And work on a budget from my personal account also...

Now if I run out of money in my personal account...

I don't borrow from my business...

I simply wait until I'm paid...

What that does for me is it ensures that I'm realistic with my spending

and I don't waste my resources...

It also gives me the ability to do some pretty vain things...

Like...

Spend 10k on uber to go (from the mainland) and buy 2k suya (Barbequed meat) on the island...

Simply because that's the only suya I like...

Pay close attention to your money in these times.

For those of use who have been in the expert space for a while...

And you want a strategy for generating cash fast...

Reconsider getting in on the 7 Day Cash machine...

It's now available for N50,000...

Just hit reply and lets talk

Handling your business finances like I've suggested....

Keeps you from overspending...

It makes sure you always have enough money for both expected and unexpected expenses

All while still having extra cash to make a positive impact in the world.

YOUR ACTION STEPS:

Set up a budget for you today.

If you don't want the hassle of opening multiple bank accounts...

There are virtual money programs sprouting up everywhere that are

pretty easy to get up and running with...

If you are not constraining yourself by allocating money to the important

areas of saving, growth and yes, paying yourself...

You will end up spending all your revenue.

You are not PROTECTING your business and yourself...

And you risk ending up in a place where you’re constantly chasing your tail, or worse.

Tomorrow I'll share with you the most ridiculously simple way to instantly have

more money right now..this very moment...

In fact it's the default way I instantly make money for my corporate clients.

It's something you can do immediately after my email tomorrow...

So don't miss it.

Got friends who should be reading this?

Send them here to join us: https://sendfox.com/victorekpobassey

Till tomorrow...

Victor

The Chief Tribemaster