In early 2020, we started hearing about this new kind of flu virus that was hitting Asia. It had a higher chance of being contracted than other forms of flu and although the death rate wasn’t substantially higher, the ease with which it was spread was concerning.
Of course, over time, we learned a lot more about the virus. From the beginning, though, that wasn’t my concern. Here’s what I was afraid of.
You Can’t Shut Down a World Economy for Months Without Consequences
I primarily stick to my lane in business. That meant I was looking at what could happen through the eyes of a CPA and an amateur economist.
There was a good chance that a pandemic was going to trigger a severe economic change. Just how bad it was going to be, though, depended on a lot of other factors.
Prepare for the worst and hope for the best.
We already knew that there were bound to be changes coming, especially in the US, as technology changed the way we do business. There were estimates that 20% or more of the workforce would be unemployed and unemployable without new training within the next 15 years or less.
The pandemic and its shut down hurried a lot of that along.
How Do You Prepare For Something You’ve Never Experienced Before?
We always have known that economies have upturns and down turns. The average business cycle is 10 years. Plus, you may have a personal financial upturn or downturn. Something happens to your job, your business or your ability to work. Maybe your budget takes a hit from an unexpected expense.
For that reason, it was standard to recommend that you keep 3-6 months of expenses in liquid reserves. Surely you could recover in that time.
But for Americans who truly lived paycheck to paycheck, it wasn’t possible to come up with that extra money to set aside. And even if you had set a 6 month cushion set aside, this pandemic has already lasted longer than that and we don’t know when it will end.
And we also don’t know what it will look like when “it” ends.
That’s why I started the Sustainable Digital Empires course. Legitimate, affordable help that can kick-start an online business that can weather economic changes and shut downs.
You can make money online in 3 basic ways:
Sell virtual services,
Start an eCommerce business, or
Sell your traffic.
Each of those have dozens of possible ways to build out a business and you can do several of the basic strategies in combination.
The Sustainable Digital Empires course started off with a Fundamentals module. These are the basics of starting an online business that LASTS. This is not a business based on only one delivery system like FBA with Amazon or selling on eBay. Instead, it’s a business that uses but isn’t based on channels like Amazon, eBay, Shopify and the like.
The difference is between building a business that you control or a business that is controlled by another company. If Amazon changes their payment or fee structure (and they have), you have no options if that’s your only delivery system.
A sustainable business is one that lasts because you control the land on which it sits. You are flexible when your industry or the economy changes.
The Sustainable Digital Empire course lessons are on the 2nd and 4th Wednesday of the month as part of the Wednesday Coaching series.
Coaching members pay a monthly fee and receive 4 Home Study Courses and live coaching per month, plus some special bonuses along the way. Right now (2/5/2021) there is a valuable bonus for coaching members that was a complete surprise.
Do you want to start a business that lasts? Join our coaching, or wait for the complete series and buy it at USTaxAid.com in Fall 2021. (If you join coaching, you will receive the information, live coaching and real estate and business Home Study Courses designed to protect your assets, build your cash flow, business value and reduce your taxes.)
This is all geared toward the key concepts of US TaxAid:
Work Less. Make More Money. Pay Less Tax.
And do it all sustainably, so the money shows up month after month and the tax savings last forever. Want to talk about the right program for you? Contact us here!