Episode 260

How to Prepare for an Upcoming Recession

With Manish Dudharejia

Manish Dudharejia is the founder and president of E2M – a full-service white label digital agency. E2M helps agencies scale their business by solving bandwidth/capacity problems when it comes to website design, web development, eCommerce, SEO, and content writing. E2M has been helping agencies for 10 years and currently works with about 130 agencies across the U.S., Canada, UK, Ireland, and Australia.

Today Manish is going to talk about how to prepare for an upcoming recession.

Prepare for an Upcoming Recession with Manish Dudharejia

Episode highlights

  • Thinking from a value perspective
  • Determining which expenses you must keep
  • Stepping into growth when others are retracting
  • What to do in a recession
  • Best advice: All the problems in the world exist because of the principal-agent problem. This is the problem that you need to solve.
  • Habit that contributes to success: Consistency and thinking from a first principal mindset.

Recommended tools

Farm Street Blog

Where It Happens Podcast

My First Million Podcast

The Principal-Agent Problem – written specifically for agency owners

Find More

From Manish Dubharejia

  • “Look at your credit card statements. Which expenses do you have to keep? Which expenses can you literally get rid of and still run the business?”
  • “A proactive outreach which had just the intention of getting a pulse on customers ended up turning into several new projects and a couple of those clients actually chose to increase their marketing retainer.”
  • “We give them an option to increase their revenue or scale their agency while still keeping their costs low.”

Takeaways

  • Keep doing your day-to-day business tasks and keep growing your business, even if a recession looms ahead.
  • Determine which expenses are unnecessary and get rid of them.

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