NEXT MARKET CRASH: 10 Ways To Make Millions As An Entrepreneur

so a couple months ago I did a video titled 8 ways to prepare for the next market crash that video was coming from the standpoint of the investor how for you to prepare as an investor when the market crash takes place many of you said well Pat what about me as the entrepreneur what do I do to prepare for the next market crash as the entrepreneur so today in this video I'm gonna give you 10 ways to make millions during the next market crash so a couple days ago I was at Las Vegas at the Venetian spending some time with other seals about 6070 CEOs from the insurance and a financial industry and we were talking about different kind of things cybersecurity preparation opportunity and one of the topics came up was how are you preparing yourself for the next market crash and so this person's wall you know I think it's gonna go for another couple more years and I'm trying to capitalize it because we're making so much money right now this other person saying this so it sparked a whole different conversation and then for me I went back and I remembered a few different conversations one of them I'll share with you it was a drive up to Lake Arrowhead to someone's house we had a session in old 506 that reminded me exactly what took place with myself and another entrepreneur the decision-making process during that time that led to things changing 13 14 15 years later but before I share that story with you I want to first share six time periods with you that will give you an idea about when the next market crash should be taking place okay so here's what we have these are six of the longest economic expansions we've ever had in the last 118 years in the US since 1900 here's what we're looking at number six is seventy four months the US housing bubble one from November of 2001 lasted till December of 2007 by the way I remember this date vividly I went to the biggest mortgage shop in San Fernando Valley off of Canoga right off the 101 freeway was a 30,000 square foot company office I know the name they shut down November of 2007 a month before this took place because everybody saw what was going on with Nina you know pick up pick a payment mortgage all this other stuff I remember this vividly watches World War 2 81 months it went from June of 1938 to February 1945 next ninety three months Reaganomics Cold War the one from November 1982 to July of 1990 Vietnam 108 months is what it lasted February of 61 to December of 1969 the second longest second longest ever in the last hundred eighteen years is the current one 115 months it's gone from June of oh nine till today and then obviously number one is a tech bubble from March 1991 lasted to March up Oh 122 months so we got a hundred and fifteen months we're going right now this is like hundred and fifteen months of you constantly growing your business eventually something happens historically we have a crisis that happens every five years but we have a massive crisis that happens about every decade and then every 20 years something pretty wild happens that impacts thousands of people's lives so now what typically happens during these times you got to realize as the market is expanding the way it has during these times we get greedy we get soft we lose our edge right now if you're an entrepreneur you're watching this and you're saying Pat I don't really get it what's this got to do with anything billions if not trillions are made post post these timelines not just during a lot of people make money and you know right this wave but the people that make a lot of money do it post I'll give you a perfect idea this happens March of a one six months later I got into the financial industry when Morgan Stanley Dean Witter nobody wanted to get into stocks bonds mutual funds that's when I got it this happened with the housing bubble December of Oh seven sixteen seventeen months later I go and negotiate a big contract with one of the largest insurance companies in the world at a time where nobody was doing it and everybody called us crazy but these are the opportunities and obviously a lot of money's been made so having said that let's talk about the ten points how do you make millions during these times number one you gotta monetize fear let me explain to what I mean by monetize fear monetize fear is not just you you have to sit there and ask yourself when this happens in my industry as an entrepreneur how can I modern out monetize fear on everybody and what kind of fear they're gonna have for exam how are my clients gonna be afraid how can i monetize that and help them out how are my partner's gonna be afraid how can i monetize that and help them out how are my competitors going to be afraid how can i monetize that how are my vendors are gonna be afraid how can i monetize that every one of the fears when it comes down to this you gotta monetize that some people say that I hear this guy say monetize fear yes of course you monetize fear that's what you do during business you become the solution for it point number two you exploit the unprepared now some people say Pat that word exploit I don't like that word exploit isn't that a negative word by the way they use it in sports all the time don't they say you just saw such-and-such exploit their defense exploit their lack of offense exploit their lack of pitching exploit their lack of pitch hitting exploit their lack of coaching exploit whatever the weakness the opponent ask when this happens you gotta exploit the cocky because every industry has the cocky and what happens when the market goes up people show up later people get more casual people get more comfortable people get more confident people get more cocky and this is a perfect time to prepare yourself for now here's what you got to realize if you knew for a fact the market crash is gonna happen next six months 115 months so I know 22 months if you knew exactly in your industry this is gonna happen next seven months how would you be prepared for it have you thought about it that's the whole idea about exploiting the unprepared who are cocky assume none of your competitors are gonna watch this video assume not everyone's gonna sit and watch this video but you are watching this video how can you take advantage that opportunity for yourself number three deliver comfort let me explain what I mean by deliver comfort when crisis happens this is when heroes are born this is when you can bring comfort to a client to an investor to a competitor to an employee to a salesperson to a vendor to so many different people by delivering comfort delivering security delivering is a safety net when this takes place you deliver comfort so ask the question in my industry huh what do I do how many gas business I'm in this business I'm in real estate business up how can I deliver security to X Y & Z you saw a lot of banks that were saying look because of what took place with 911 oh because of what's taking place with the mortgage crisis we will go ahead and forgive your mortgage payment for 90 days they delivered comfort during the time like this and some other companies who weren't delivering comfort guess what happened to them what a cold company come to us we'll deliver comfort because we'll forgive your payment for three months cuz we know what it is to go through tough times that delivering comfort gets loyal customers number four network like Jerry Maguire let me explain what I mean by this if you've seen the movie Jerry Maguire the famous line you know show me the money with Cuba Gooding jr. and this story is about Jerry Maguire being a sports agent and it's working for big agency and he writes this big report in the middle of the night and he sends it and he goes to work the next day he's afraid like everyone's gonna look at him like he's funny so he eventually gets fired everybody takes his clients then there's a scene where Jerry is trying to say this business is about relationships and he takes it back on wanting to be really having a relationship with his clients then you realize this everyone's coming back because his opponent looked at everybody as a dollar amount of renewing contract and there's a famous scene where the client one of the players is with its agent that was all about the money he sees this celebration of Jerry Maguire and Cuba Gooding jr. in the scene and this guy says how come we don't hug the agent goes to hug him he elbows them like this hey get off me right that is a perfect example of a time like this one this takes place this is when you go and meet with every single one of your clients you go shake their hands you go sit down and talk to them how you doing a lot of times a lot of times when a market crash takes place people are afraid of the phone calls people are afraid to pick up the phone calls people don't want to talk to the clients they're afraid that the clients are upset of course they're upset of course they're afraid of course they're panicking but it's the perfect time for you to go Network like Jerry Maguire and get those relationship to be stronger saying listen John this wasn't easy to pick up the call I know this is a difficult time but I want you to know something we're gonna go through this together here let me share with you what I'm thinking about here's what I have in mind what we're doing with the rest of our clients and you walk through it that doesn't mean they're going be happy with everything that's taking place it just means they realize you're in the trenches with them cannot tell you how much this helps you create loyalty with your clients as well my next one point number five double down on your message let me explain to what I mean by this whatever your cause is for your company or your business your small business whatever you do double down on telling that message over and over again you may need to adjust your story slightly accordingly to the market crash but double down on your message here's what we do for families here's what we do as a company this is what we stand for this is our history this is what we're doing long-term this is our mission vision double down on your message non-stop because it keeps everybody on your team focused on the bigger picture rather than all the small stuff that's taking place on a daily basis number six cut the fat before the crash let me explain to what I mean by cut the fat before the crash you have time to cut the fat listen your brain say you got two brains here's your brain here's somebody else's brain your brain during the crash it's trying to handle 42 different issues in your mind because you didn't cut the fat your opponent's brain has only nine issues to worry about have you ever sat in a meeting with an employee with a customer with a job interview with anybody and you're speaking to them and that person is talking to you and for like seven minutes you're not in the room you're thinking about how you're gonna fix your mortgage you're thinking about how you're gonna handle that payment you're gonna make you're thinking about how you're gonna help out financially but all the problems you're facing financially you're not present in that moment another person who is present in the moment of that appointment they're going to outdo you because they cut the fat before the crash that took place I'll give you a perfect story one day I'm driving up I'm coming up in the industry I'm probably making a couple hundred thousand dollars here at this time I think like oh six you know and we're going up in this Escalade and we're going to Lake your hood it's myself and everybody in this car is ahead of me I'm like the fifth guy in the car there's a guy sitting to my left there's a guy sitting over here Latino guy african-american guy and another guy sitting over here okay we're driving up the guy sitting over here in the front is the number one guy in the car he's got a couple million dollars in the bank account he's telling his mentor hey I'm thinking about buying this house it's a four million dollar house I want to build it up it's in Glendora Hills it's a beautiful home I want to build this place up and it's so exciting and he start telling all those stuff he asks his mentor what do you think I should do his mentor doesn't give him at any advice he asks his number-one competitor guys sitting to my left what do you think he should do he says to him he says you know what you you've been working very hard I mean all this hard work you've been putting into this business I think you should go out and buy your house what is the whole purpose of making all this money go build this house go do all this other stuff you deserve it you should get it it's like oh okay that's how I feel I should get it then he his mentor says Patrick what do you think he should do and I said it's probably the biggest mistake you'll make in your career he says why is that I said do you realize the amount of momentum you have in your business right now it's something none of us have ever seen before you have so much momentum you're making two three four hundred thousand dollars per month and you want to take time away from this momentum to build a house think about if you go three more years with this momentum you can buy ten of those homes but your focus on this house I don't think it's a good decision I think it's a mistake you know who ends up listening to instant listen to this guy do you know what ends up happening he builds the house beautiful house beautiful home gorgeous home we went to the house beautiful property post that event the entire focus has been to make sure he doesn't lose that house now imagine say the focus was in a different place you drove momentum you could have grown your business when the market crash came the mortgage crisis came he was affected how many things you think was on his mind you think was thinking how am I gonna save this house I put a million and half dollars downpayment on this house this house had to do this have to do that so he may have saved his two million dollar house fast forward ten years later maybe he's worked five million dollars maybe three million dollars and a lot of people who focus on expanding their business and cut the fat they're worth a few hundred million dollars what's the difference cut the fat before the market crash do not let fat consume your brain because it's so draining when you're trying to save yourself from losing everything in you're hanging on to things you're hanging on to things that is a draining place to be versus I'm playing loose I'm good I'm tight I'm lean I'm playing offense I'm gonna be good to go number seven team up with our line players team up with somebody else that's aligned with your vision meaning so your competitor you going up and saying you know what I like this guy we're thinking the same way let's run together during a market crash teaming up with the right person double eights and accelerate your speed if you team up with the right person during the market crash you strengthen each other it doesn't just become twice the strength it becomes three four times the strength because it's compounding to the ideas together that person strengths your strengths so find a good aligned partner to team up with to accelerate your speed during a market crash number eight double down on positive distractions listen we hear a lot of things about distractions distractions don't be distracted don't be distracted don't be distracted I love to be distracted except I like positive distractions when people say distractions their time on negative distractions during the market crash your family's distracted your employees are distracted your vendors are distracted your partner's are distracted your staff is distracted everybody is distracted and worried give situations to create positive distractions take them to a park go bowling take him to movies go do a game bring the fun exciting aspect to it let's do something together let's go out bring positive distractions to the people you're running with so their brain is not consumed by all the negative distractions from the outside it keeps morale high and if he keeps morale high eventually when the market crash goes by everybody forgot about all the negativities you've overcome at you you're winning dominating your marketplace whatever industry you're part of in last but not least number nine I told you ten but I'll give you number nine equip your team with all possible audibles let me explain to what I mean have a meeting with your team almost like a football coach and create a playbook if this happens with the market will do this if this happens here we do this if that happens we'll do these three things if that happens we can do this if this happens we do this what about this happens we do this and talk amongst each other and allow your main executive salespeople leader to bring up whatever that could possibly happen and identify audibles hey what do you think we need to be know if we do this I will do this I would do that I would do this I would call this person I would talk to that person I would team up with the Spurs I would do that I'll be honorable so the more audibles you have laid out amongst everybody when this comes no one's worried and last but not least point number 10 is a point that can make you millions during the next market crash but it's not a point that I'll be sharing in this video because point number 10 will only be shared at the vault conference that I'll be hosting here in Dallas Texas from May 1st to May 4th entrepreneurs executives CEOs salespeople marketers from 36 different countries have already registered for this event we'll be talking about strategies that are going to help you grow during good and bad times problem solving formula that'll be unveiling at this event called a solve X formula that'll help you solve issues in the boardroom the bedroom or the war room no matter where you're at and then you identifying exactly what the next three steps you need to take to grow your business by the way if you are attending the vault conference and if you haven't registered yet click on a link you're here to get registered if you want today's episode in a PDF format sent to you for free Senate X seven four seven two six zero eight four six one once again text seven four seven two six zero eight four six one and if you are still wanting to watch the other video about how to prepare for the next market crash as an investor click on the link over here or if you're wondering about what you can offer on what's taking place in China click on a link over here thanks for watching everybody take care bye bye

Channel: Valuetainment

Views: 249,301

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Keywords: Entrepreneur, Entrepreneurs, Entrepreneurship, Entrepreneur Motivation, Entrepreneur Advice, Startup Entrepreneurs, valuetainment, patrick bet david, 10 Ways to Make Millions in The Next Market Crash, next market crash, stock market crash, housing bubble, real estate crash, tech bubble, reaganomics, NEXT MARKET CRASH: 10 Ways To Make Millions As An Entrepreneur

Id: qqMLg0ijGBU

Length: 17min 9sec (1029 seconds)

Published: Tue Feb 05 2019