I’m typing this while on a plane to Melbourne.
Long story short, I’ve thought deeply about the Silicon Bank Crisis and Credit Suisse’s failure.
The downfall of both banks signals the end of an era, and I think it will hit the economy in ways we wouldn’t expect.
That said, while part of me feels scared… the other part is incredibly excited.
I’ll share more about this in “What I’m Thinking” so please read on.
What I’m Watching?
I’ve been watching a couple of AI Documentaries lately.
While the world has been raving about ChatGPT, I truly think that AI will be disruptive to every single industry.
This is easily a trillion-dollar market because almost everyone will be using it at some point (One day, people will use AI just like how they use search engines.)
As a result, new jobs will be created… and new business models will be formed around AI.
One of the fundamentals of AI is the idea of Machine Learning – whereby programmers leverage algorithms and data to help the computer learn and make predictions.
Imagine having software that uses AI and data to optimize your ad copy to convert better…
It will change your marketing forever.
Hence, we can’t ignore AI – if we don’t adapt ourselves to it, our lives will be completely changed by it.
What I’m Reading?
I’m currently reading “Building a Second Brain” by Tiago Forte.
At WYODC, I do mostly online education and consulting… as a by-product, I assimilate tonnes of new information daily.
While I do marketing really well… I retain my competitive advantage by holistically understanding worldly trends and specific knowledge such as economics, geopolitics, and technology.
And as I learn new material, I tend to forget about the old – which begs the need for a new method to organize information in my head.
I call it Information Architecture.
This is incredibly valuable if you want a framework for integrating different concepts in your head so you can remember ideas and apply them whenever needed.
It also removes the need to carry your Kindle Library or Notepad around.
I highly recommend it if you want to improve your Cognitive Operating System for better recall.
In fact, I’d go as far as to say that this book is a MUST if you want to build a Franken-Mind.
What I’m Thinking
Now, while my last few emails about The Great Recession of 2023 may sound like Doom-and-Gloom…
Today, I’d like to share a pretty exciting idea with you…
While we’re likely to see unprecedented times of economic disaster this year… I think the silver lining is that we still have ONE last opportunity.
In case you haven’t seen it yet – we still have a final opportunity to pivot or make some changes in our business.
Bear in mind…
Many of the Market Leaders we see today in various industries were tiny players in the Global Financial Crisis of 2008.
All they had to do was SURVIVE.
Just look at Facebook, Instagram, and Snapchat.
In the Social Media world, we have people like Gary Vaynerchuk and Tai Lopez who pounced on the online marketing revolution.
If you’re a solopreneur, marketer, or entrepreneur worried about the impending economic turmoil that’s about to unravel… I assure you it’s possible to turn this crisis into an opportunity.
Because it’s really about how you POSITION yourself.
Here’s what I mean…
In the larger scheme of things, psychology is often affected by markets. The best demonstration of this theory is the stock market.
When the stock market goes parabolic, everyone gets exhilarated, and they rush in to buy more.
Conversely, when the stock market tanks, everyone gets fearful and sells their bags.
We can see this similar ideology playing out in marketing, too – when the markets tank, people tend to think and feel very different compared to when the economy is upbeat.
The key to surviving an economic depression is adjusting to the market sentiment.
When people have completely different beliefs and values about their buying behavior, you must drop the old playbook.
The faster you do this and adapt to the marketplace, the better your chances of becoming an industry leader.
If you’re keen to adjust and pivot your business for The Great 2023 Recession, I want to share the secrets of how massive prosperity is created in times of economic crisis in my upcoming Mastermind “The Vault”.
I’m hosting WYODC’s first LIVE In-Person event in Malaysia, Penang, on June 1, 2023.
Here, you’ll experience the wealth-creation action that usually happens behind closed doors. (SNEAK PEEK: I’ll share the finest mental models and advanced strategies about business, wealth-creation, and marketing.)