Ep: 116 Jonathan Slain

Gary Wilbers > CHARGE Podcasts > Ep: 116 Jonathan Slain

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Positive in this Uncertain Time

Jonathan Slain

Jonathan spent the last Great Recession huddled in the fetal position on the floor of his office. He borrowed $250,000 from his mother-in-law to survive. Jonathan paid his mother-in-law back and is now a highly sought-after consultant (and, yes, he’s still married!).
 
The savvy entrepreneurs are the ones making plans now, so they can be buyers when opportunity knocks. They’re looking forward to purchasing failing companies and hiring top talent when others are caught unprepared by a recession.
 
Jonathan understands not only how to prepare your business for the next major recession but also how to turn it into a profitable opportunity.
 
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Show Notes:

  • Jonathan’s biggest habit is waking up and eating the frog every day.
    • By this, he means that he does at least one thing that he knows he can accomplish every day so that he feels like he has done something with his day when he lies down for bed.
  • Jonathan goes to sleep thinking about what he needs to do the next day to try to spark some creativity.
  • Before he returns emails in the morning, Jonathan tries to knock off the one thing that’s bugging him.
  • The first thing your business needs to do before a recession is to benchmark how ready you are for a recession and assess where you’re at.
  • Companies who have grown through a recession have all prepared for it and known what they were going to do.
  • You have to look forward.
  • Check out SBA Emergency Loan Program and other programs designed to help small businesses.
  • Have a conversation with your banker about your line of credit.
    • Draw on it now and then move your money off of the line of credit and into checking or savings.
  • Have a sense of urgency.
  • Cash is the critical resource.
  • Take action now.
  • Be careful about what payables you are paying before or during a recession.
  • Horde cash. Cash is king.
  • Business owners should be able to take advantage of what opportunities a recession can bring.
  • Think about what skills you want to pick up during the recession so that you can rock the recovery when it happens.
    • ex: How can you get better with video conferencing skills?
      • Figure it out and you can advertise this advantage during and after the recession.
    • Make a list of the top talent that you want to hire once the recession is over and reach out to them.
      • Establish and create relationships now that you can use in the future.
  • Almost all businesses slash marketing budgets during a recession.
    • Those that do better coming out of a recession spend the same amount or more on marketing during a recession because your dollars are going further during this time.
  • A recession could help you do things more quickly than before.
  • Employees respond better the more they know.
    • Communicate.
    • Tell them what your plan for a recession is, even if it includes layoffs.
  • Transparency is key.
  • People have to be able to prepare and work through the situation.
  • Access a free assessment on your readiness for the next recession at recession.com/ready

Jonathan Slain’s Recharge Round

  1. Share with us how you believe your mindset affects your life? It’s about digging deep and finding another gear. His kids need him to be a rock for them.
  2. What do you do daily to bring Energy into your life? He doesn’t try to fight the energy, and he does what he can and wants to do.
  3. Share the number one connection that has made the biggest impact on your life? His biggest connection besides his family is the co-author of his book.
  4. What advice has Influenced you the most in your life? “Character is really about what you do when no one is looking.”
  5. Recommend a book and share why you love it? The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb
  6. Define in one sentence or less, what legacy you want to leave on the world?  Jonathan and his wife want to do good for abused, impoverished, and neglected kids.

Contact:

Gary’s 10 Ways to Stay Positive Webinar: https://bit.ly/GaryWilbers-10WaysPositive

Jonathan’s Website, Facebook, LinkedIn, YouTube, Twitter, and Instagram

Check out Rock the Recession by Jonathan Slain!! Use coupon code CHARGE to get 30% off the Rock the Recession Workbook!!

Or find the book Rock the Recession on Amazon.

Order your copy of Positive Culture Wins HERE!

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