In this episode, Sean chats with Nolan & Omar about how the recession is coming and what content creators need to know! ****** WATCH THE FREE ONLINE CLASS with the top 21 video marketing secrets from top creators and business owners! ✅ CLICK HERE 👉
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📒 Show Notes and Resources 📒
📘 Is the creator economy really recession-proof? – Mashable
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📘 How to Build a Recession-Proof YouTube Channel in 2023
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📘 WARNING: The Recession Has Started, but There is Good News
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📘 Business Insider Recession Article
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📘 Connect With Omar El-Takrori
➡️ @OmarEltakrori
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📘 Connect With Nolan Molt
➡️ @nolanmolt
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About this video:
Welcome to the Think Media Podcast! In each episode, Sean Cannell from Think Media shares the importance of video marketing. This show will teach you the video marketing trends in 2023 and what is next for digital marketing. If you’re asking what are the social media marketing trends, then this video is for you.
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#ThinkMediaPodcast #CreatorEconomy #YouTubeTips…(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
The global economy is facing some tough times ahead, and it’s not just speculation; a recession is coming, and soon. For creators and entrepreneurs, this means more than just dipping stock prices and tightening wallets. The creative industry is often hit the hardest during a recession, as spending on non-essential services and goods plummets.
So, what do creators need to know to protect themselves and their businesses during this economic downturn? Here are some key points to keep in mind.
1. Diversify Your Revenue Streams:
During a recession, it’s crucial to have multiple sources of income. If one source dries up or is negatively affected, you need to have other revenue streams that will keep your business afloat. Consider expanding your services or creating new products that align with your brand.
2. Focus on Your Core Audience:
In an uncertain economy, it’s essential to focus on your core audience. Understand their needs and preferences, and how you can provide them with the most value. By focusing on your loyal followers, you can build a sustainable business model that will last through even the toughest economic times.
3. Cut Unnecessary Costs:
In the face of an economic downturn, it’s important to cut down on unnecessary costs. This may mean scaling back on certain projects, staff, or expenses that are not essential to your business. Take a closer look at your budget and eliminate any expenses that do not directly contribute to your business’s bottom line.
4. Use Social Media Strategically:
Social media can be a powerful tool during a recession. Use it to communicate with your followers and promote your products or services. However, beware of overselling or spamming your audience. Instead, focus on building genuine relationships with your followers, and providing them with meaningful content that aligns with your brand.
5. Pivot Your Business Model:
If your business is struggling during a recession, it may be time to pivot your business model. Explore new markets, services, or products that align with your brand and can generate more revenue. This may mean temporarily halting certain projects or services, but it could be the key to sustaining your business during tough times.
In conclusion, the upcoming recession is something to be aware of, but it does not have to spell the end for your business. By diversifying your revenue streams, focusing on your core audience, cutting unnecessary costs, using social media strategically, and pivoting your business model as necessary, you can weather the storm and emerge stronger than ever. Keep these tips in mind, and don’t let the recession knock you down!
I used to think every investor lose out during Recession, meanwhile some make millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there's always depression for some, and profit for others, it all starts from having the right mindset. That said, I've set asides $250k to invest for future, unfortunately I'm a complete noob.
i think this video would be my motivational video forever.Thank you so much bro for this video.
Guys. What is this amazing mic stand you got there?
If your taking advice from wef then u screwed bud
I honestly believe that this is one of the highest value channels on this website. Thank you for giving us such solid information to help us progress toward our goals of being full time content creators.
No NO! That guy on the left got it all wrong! We will not see a similar situation as we did with Covid, because that made big business RICHER! We are at war now, that is what is bankrupting us, and that will see big business and all the peasants much poorer. No money to advertise. No money to spend
We are the Christian’s of today, new challenges same story of old 🙂 ❤ He is with us 15:15 – 50k plus another 50k another Job is 100k and statistically that’s happiness off this survey I saw to be comfortable.
I wonder this all the time (artist) and came to the conclusion that there are always hurdles, and actions. The right actions should overcome most hurdles, but not everyone will perform the right actions.
Love the set. Love the team. Love the word.
Do it scared, do it smart though 😉
I have started Amazon affiliate about two years ago thanks to you guys and I have income coming from there but I just heard you guys talking about $100 per 10,000 subscribers for ad scenes and I am at 34 k subscribers at the time of this comment and for about a year and a half or two years I have plateaued at anywhere from 2K to 3K per month from ads . I am really wanting to ramp up my channel and make the best of it. I have been binge watching or listening to your content for about three days straight now but I have been a follower for about four years and I really appreciate your content
Pure inspiration start to finish. Thanks guys.
Omar is on point! All brings very great points and ideas
This actually was a great short video
Hi dear, Are you looking for professional thumbnail designer?
This is a great video, I learn a lot watching your videos and it has been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to Mrs. Belinda Owens for improving my portfolio. keep up with the good videos.
You guys literally have no idea what you're talking about. There is no recession coming it's worse than a depression and you are nowhere near prepared for it.
This is a great video thanks!
Great podcast, thank you for the practical advice