Mark Podeyn’s Top 10 Recession Lessons Still Applicable Today
Written by Mark Podeyn, Action RV
BOSQUE FARMS, N.M. - Hello, everyone! I want to share some of the notes I wrote exiting the recession in 2009. These are the lessons I came away with and I hope they help in these uncertain times. I still practice these every day. As a matter of fact, I wake up every morning thinking about #3.
Here are my Top 10 lessons:
1. Never marry the moment - bad or good. It is always temporary.
2. Know your numbers. How much money do you need to survive? What is the least you need? Have a budget and stay disciplined.
3. Always have a healthy paranoia. If someone had to put you out of business, what would they need to do? Go fix it.
4. Be scalable - both up and down. Be nimble. Be ready to pivot.
5. List your (as a human) intellectual assets. How can you apply these assets to pivot or survive?
6. Be active in doing tasks that build confidence and self-esteem.
7. Never be too proud or arrogant to ask for help.
8. Spend money only on expenditures that will result in cash flow revenue generation.
9. Never stop marketing. Be a guerilla marketer.
10. Say out loud, “I will survive this. I have what it takes.”
About Mark Podeyn
Mark Podeyn has been a trusted source for many in the trailer industry. Through a special NATDA Member Benefit with www.markpodeyn.com, Podeyn offers to consult to dealers around the country. To learn more about this benefit or Mark Podeyn, please visit www.natda.org/member-benefits.