What is the best business to start at times of uncertainty like now ? and How this recession proof business is helping average people get rid of their 9-5 job.
Wake up call!!
How to build a recession proof business and Corona virus Effect… Hey everyone, Oz Konar here. I wanted to come out and talk about some of the questions that I get in regards to the coronavirus and how it is affecting the business, how it is affecting alternative lending industry and what we do here helping people start and grow a recession proof business. We’ve been asking questions back and forth on my Instagram and YouTube channel and through emails. I’m getting a lot of positive questions, but at the same time people want to know what’s really happening and how this is going to affect everything and is our industry truly recession proof. Obviously, this is affecting every part of our lives and people want to know how this business will be affected. So many of you, thank you for the emails and messages, say that, “Oh, now I see what you mean when you say this was a recession proof business.” Because obviously what you’re offering… So when you become a business loan broker, what you’re offering to other businesses is money.
So that need doesn’t really change. But there are a lot of questions. So the first thing I want to say is definitely stay safe. I’m not going to downplay what’s really happening out there. No one planned to start 2020 this way, on a global pandemic. I always take health matters seriously, especially when there are dead people. More than a thousand people died so far and they’re expecting more than that. So this is definitely a serious problem, and it’s going to get worse before it gets better. But I’m not a health care authority. I’m not a doctor, surgeon, or anything like that, so I’m not going to give advice on what to do. But based on what I hear, just keep your personal hygiene at the highest level, wash your hands and stay away from other people.
But having said that, it is not as easy to do that for some people to stay out of and to stay away from common areas and things like that because sometimes your job requires that, and there are parts of the country that your boss still requires you to show up to work and you can’t just cancel out if you’re income is dependent on that. That’s why one of the reasons that if you haven’t made up your mind about starting your own business or finding something that allows you to work from home, while I think this fact, what’s happening right now, is the colossal proof that you need to change how you’re doing things moving forward. So whether you start this business or some other business, guys, you got to be able to work from home and control your income and destiny from home in cases like this.
Of course there are other motivations outside of the pandemic. You want to work from home to be able to spend more time with your family. You want to work from home so you don’t have to commute back and forth and spend hours pretty much uselessly driving to one place and coming back from that place. And also you want to work from home to have the time flexibility, the time freedom to yourselves. And no one is counting your minutes on when you’re going to have lunch and what time you show up and what time you leave, and things like that. So I think this pandemic kind of proved that millions of people do not have that freedom and it’s just not okay. And I know millions of parents in New York City right now are thinking about how are they going to handle their kids if the schools shut down because while they still have to do their work, and now the kid is at home and someone has to prepare lunch and dinner and things like that, that’s a massive dilemma.
And these kind of hard times show us how important it is for us to have a little more control of our destiny than previously made belief by the college system and the job market and things like that. It’s certainly time to focus on building a recession proof business. So I hope that made it obvious. So I want to make sure that you guys take this problem very serious. This is a health concern. We don’t know how that’s going to play out. I’ve done my own research. My background is in biology and chemistry and biochemistry. So I’ve done my own research and kind of understood what was happening as much as probably you guys do. But after that, I limited my exposure to just bad news.That’s one thing that I see that a lot of people are struggling with. They think they’re doing something beneficial by just gluing themselves to their computer screen or their phone or their TV to watch news 24/7, that’s not a good thing guys.
Don’t forget that a lot of news out there is exaggerated because don’t forget that the news anchors and newscasters, their motivation is to provide you news that’s going to grab your attention. A lot of the times if you’re watching news, most of the news are bad news because people show a lot more attention to bad news than good news. Genetically, historically, evolutionarily we’re designed that way. When we see something that we should be afraid of, we give a lot more attention to that. So if something is moving too fast, you freeze and take a look at it because it’s a fight or flight type of reflex. So they know that. These broadcasters know that. That’s why a lot of times you’re just exposing yourself to a lot of negative information. I’m not saying don’t being informed and not watch anything, but on my end I kind of limit my time to catching up with the news once a day and I spend 10, 15 minutes to get a summary.
You can do that through different websites and kind of flip board and things like that so you get a summary of what’s really going on. But staying in front of TV and watching the news and things like that is not going to do any benefit instead of building your own recession proof business. You’ve got to focus on what matters most, which is your own business, if you don’t have one. And whatever you’re doing so you can protect your family and yourself. For example, I came across an interview with a news anchor, and this lady was interviewing a doctor, a very top official doctor from the government, and the type of questions, like the way that she’s jabbing and jabbing for some negative news was simply pathetic. Like this doctor, poor guy, is trying to explain how this is impacting millions of people and the peak times and when it can disappear and things like that.
And out of all the things that he said, she goes, “So are you saying, doctor, that hundreds of thousands of people might die within a month?” And he goes, “No, that’s not what I said.” And she tries again from a different angle, tries again from a different angle. She’s trying to make this poor guy say something that she can take advantage like a vulture and started using it as a massive headline saying that this top official doctor said that people will die tomorrow. So that’s who you’re against. So don’t give your attention to these people because they’re feeding off of that. That’s very sad, especially at the time like this. But that’s how the news industry works. So don’t give them ammo to use against you. Just stay safe. Keep an eye on the news every once in a while, limit your exposure.
I have apps that I use that kind of blocks me from using Facebook and other social media apps so I can ignore freely and focused on what I’m doing. That’s going to be the most important thing to do right now more than ever because I know that one of my mentors said in the past that every challenge, every hardship comes with the seeds of massive opportunity. So if I were to bring it back to our industry, alternative lending, and your questions about how could this affect the industry. So this industry survived 2008 recession, and it was a financial recession, meaning that people lost their jobs and their homes and things like that. It was very devastating. It didn’t really cost their lives, but it costs their livelihood. So they lost jobs and things like that, and this industry kind of flourished during that time.
People need money.
Why? Because don’t forget the common need that this industry fulfills the demand, which is money. Well, what happens when economy is bad? People need money. What happens when the economy is good? People need money. What happens when economy is just flat? People need money, so access to money and need to access to money does not really change. And at a time like this, of course the economy’s going to go belly up and the Fed is reducing the rates and things like that. Honestly, for alternative lending, this is not as relevant as to your local branch because they’re the ones who are dealing with bigger type of loans and people are refinancing, they’re doing he lost, and they’re trying to get a mortgage and things like that. Those things matter to them more than it does to us in the alternative lending industry, for the reason that of course the banks will now restrict access to capital even more because all the small businesses who had the lot lines are cut off.
They can’t have… If you’re a restaurant, and for the most part you’re not going to have customers come in and sit and dine with you because of what’s happening. So your revenue’s cut off. So you need capital right now to preserve your employees, preserve your business, and keep the business going and cover your expenses and things like that. So for the most part, banks are still not going to be a good source for getting capital. They were not a good source to start with for small business anyways. They’re usually a good source for mid size, large size businesses, but even now it’s going to get worse for them. So in the alternative lending industry there’s an overload of opportunity right now because these people are coming to the alternative lending facilities, our brokers within our community, that we see a spike on the demand itself. As someone who is in the alternative lending industry, you now can build a recession proof business.
Or will the lenders just going to open it up and give it to everyone? Of course not. They have their own underwriting criteria. They will take a closer look at some industries before they provide the funding, but the opportunity does not change. It actually grows, right? So merchant cash advance and alternative lending industry will come out of this stronger than they were before because once more, the small business community will understand that in case of an emergency, they really cannot go to their bank and get funding. So the bank gladly accepts the deposits you’re putting in when you do have the money, when you’re generating revenue, when it comes to giving back to you, they always had a problem with that, especially for the small business. And it hasn’t changed and it’s going to get worse. The government promising additional funding through SBA loans, that’s great.
But the challenge, and a portion of the SBA loan, our brokers can fund them, still make commissions, but the emergency part of that will be dependent on the business proving they’re in a state of emergency. So they will get those funds through the government, but not so much through the banks. And there’s additional opportunity. Also for our members, we teach them about different funding and lending options. So a little more than 10 different options. And the reason we have so many different programs is not just for vanity purposes, so I can say I have this many programs, it is for situations like this because some lending options becomes more difficult to use in these times and others become way more easier to use and way more in demand and less regulated and things like that. That’s why it’s a massive opportunity to jump on when it comes to helping small businesses because they need capital.
So you want to be the person who are helping them out while building your own business that is completely recession proof. So that kind of covers a lot of the questions that I get. So I get questions about like the Fed increase, I’m sorry, rate cut, which is again, as I said, it’s really not relevant to us. Is this going to shrink the industry of alternative lending or not? It’s going to have an effect, obviously, but think about what else you could be doing. Honestly, when I say this industry is truly, truly recession proof or pandemic proof, I really do mean that because if you don’t help people get money, I don’t know what other business opportunity would give you a better edge right now. I really don’t. I’m thinking about different business opportunities that you would be in a better place to do that versus this.
I really don’t know if I have an answer. So you want to be where money is, and we want to be the person who is offering money to other people. And I think this is showing once more how important it is to have control over your financial destiny and your time freedom, your location freedom because all our members and myself and most of the people in our community, they’re working from home. That’s the most we can do at this point to stay safe. And if you can do that and still make money and generate revenue and it helps small businesses because you don’t really need to meet them in person, I think that’s what makes this industry super powerful. Because you have access to different products but also you have the freedom to work from home and reach millions of business owners and help them with their demand.
So it’s very, very important. That’s why I call this the recession proof industry. Because when a recession happens, the industry booms. When pandemic happens, people are going through tough times right now. They can’t really get funding. You you still have options to offer them funding. So I hope this helps with your understanding of how things look from my perspective and how my students all work daily on building their own recession proof business. . I see this as an opportunity for many of you to take advantage of that and kind of think to yourself, if you’re not going to do anything now, and if you do not really see the opportunity in a situation like this, when will you do it? When are you going to? What is it going to take for you to see that you need to do something for yourself, for your family? Because a month, two months from now, this will disappear and our lives will be back to normal.
But what are we going to take out out of this? What are we going to learn about this? The best think you can do right now is to focus on building a business that can be recession proof. I know people that still have to put in 70, 80 hours a week working really close with people, knowing the risk of them getting infected and infecting their family and things like that, but there’s really no way out. So when I look at this, and it’s very sad, I wish we never started the year that way, but honestly we can’t really control it. It is what it is. But what we can control is coming out of this, we can come out strong and take lessons on how we don’t end up in a situation like this personally, you, financially speaking, so that way you’re not kind of forced to do something against your will. You can build a business that kind of protects you in any scenario given that you’re going to put in the work.
This is not a get rich quick scheme.
You’re not going to just sign up and be a millionaire. You’re not going to make a ton of money unless you follow directions and do what thousands of other people are doing within our community and take advantage of this. So I only suggest this if you’re willing to build something for yourself. I only suggest is if you know yourself, that you’re not lazy, you’re going to take action and you’re going to actually do something with this. I only suggest this if this is not a hype for you, and you see how this can build into a legacy. A business that you’re not just making money today, but you’re building an asset because don’t forget that in our industry, if you have your own book of business, there are other lenders who are going to be willing to buy your book of business.
So it has the value of building an asset and selling that asset down the line. So there are many variables that this could build out to be a six, seven figure business for you. And we have many members who reach those levels and have their own recession proof business. So I want you to think about this in the light of this information. I hope this is helpful. Just comment below the video and tell me what you think about this and your thoughts and what you’re going through right now. I really would like to know, I’m in communication with my members all the time. And if you haven’t done so, subscribe to the channel, click Like, and click the bell icon so you can get notified when I create more contents. In the next couple of weeks, I’m going to be posting a lot more videos than usual. So you don’t want to miss out on that, especially if you’re interested in this opportunity. All right, so I hope that you’re safe and you’re taking care of yourself. I’m looking forward to seeing the other side. Take care now. Bye. #recessionproofbusiness