In this episode, we provide updates on our respective businesses and feeding the greed and fear index where business encountered a place of uncertainty in the economy while sharing some helpful advice on how businesses and individuals can not only survive, but thrive during an economic recession. This includes talking about the recent economic downturn and some helpful insights which will let everyone view situations in different perspective. 

As always, we also provide updates on Castaway and EditorNinja, which include...

Sound interesting? You should give it a listen. We think you'll really enjoy it.

This episode was edited by PodcastBuffs.

TIME STAMP AND KEY IDEAS

(00:04:02) Pandemic Recession
There are winners or losers in business. Some business might have gone outside the grid during the global economic downturn as their services are getting weak demands. On the other side of the globe, there are other business who found a way through the recession and came across great opportunities especially for alcohol, soap, disinfectant and hygeine focused companies.

(00:04:48) Invest in Skills
Even with the pandemic recession, some companies which had found an opportunity with the situation has been lacking with employees so they considered hiring people and reconsidering what their market looks like.  Business tend to find a person at the right time and should give the right offer for them - more like finding someone which can take the work and produce quality result.

(00:15:12) Manage Churn
Tackled one of the things to be fearful of right now which is a retraction or churn. Sort of hassle to actually need more volume in order to get the same number of customers as preceding years but churn is what kills subscription and recurring billing companies. This highlights the important to be an account manager who actually cares and monitor to have more people use the service more.

(00:19:15) AI Taking Over
AI is eating the SEO world and is commonitized. AI is somehow as good as Castaway where it can affect the business prices. This raises concern that there is a tendency to either lose business or find a competitive edge and there is no way losing is an option. Having a clear understanding of what your clients need are then it must be an easy way to go as this will open up opportunities for the business.

Lesson Takaway
Despite everything, try not hitting the panic button immediately. There are plenty of people out there who can close better deals, it is not a necessity to sacrifice too much over little things and strive as not to get locked in a job you don't enjoy too much.