If you are concerned about the current markets and are looking for better ways to position yourself or your business so that it weathers the storm, this episode is for you. Joining me on the show again is my friend Alastair Macdonald, who has a full background in market cycles and understands them well. In this episode, I’ll be picking his brain for insight on how to be prepared for the deeper recession that we are at the forefront of. Listen in to hear how you can become a full-cycle entrepreneur who goes against or circumvents the dangerous group-think mentality.
Alastair talks about leading indicators that show when a recession is coming and what you can do to stress-test your business. He also gives some great real-life illustrations and examples of how businesses can assess risks and ensure they are working in ways that will weather the hurdles that come with an economic downturn.
Minute Markers:
- 00:54 – Alastair’s background in market cycles.
- 6:47 – What a recession really is and how the pending recession may effect business owners.
- 8:31 – How to find where you’re at in a recession.
- 9:19 – The credit expansion that happened and what followed after.
- 12:24 – Issues cropping up and how Alastair is helping businesses navigate them.
- 14:51 – The importance of not being afraid to talk about economic issues.
- 17:39 – What you can learn from the history of interest rate changes.
- 20:02 – Who you should (and shouldn’t) take advice from.
Featured on the Show:
- Alastair Macdonald: TEDx | DSN | Facebook
- David Phelps: Website
- Freedom Founders Discovery Call
Watch full length Interviews on video!
Watch full length interviews on David’s YouTube channel by going to www.DentistFreedomBlueprint.
Join the tribe of dentists ditching Wall Street. Get more insights, resources and inspiration for creating asset based income and Freedom. Follow us on Facebook here.
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
1. Schedule a Call with My Team:
If you’d like to replace your active practice income with passive investment income within 2-3 years, and you have at least 1M in available capital (can include residential/practice equity or practice sale), then schedule a call with my team. If it looks like there is a mutual fit, you’ll have the opportunity to attend one of our upcoming member events as a guest.
2. Become a Full-Cycle Investor:
There are many self-proclaimed genius investors today who think everything they touch turns to gold. But they’re about to learn the hard way what others have gained through “expensive” experience. I’m offering a free report on how to become a full-cycle investor, who knows how to preserve and grow capital in Up and Down markets. Will you be prepared when the inevitable recession hits? Get your free report here.
3. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Click here to take the 3 minute assessment and get your scorecard.
Want to know more about David and schedule him as a speaker or podcast guest? Go to doctorphelps.com to book David now.
Power Concepts:
Get the Full Episode Transcript:
Your privacy is important to us.