Engange in strategic people partnerships
Look for people partnerships that can bring you greater returns for your investmebt. There might be good people during this period of recession with good work ethic and excellent character who might be struggling with the wrong type of job or business which does not suit their skill sets. So at this time, when you have an influx of cash, you can either ge these people who need a chane and are looking for work to work for you, or set up small business with them. Their skill, energy and work ethic can be a great asset to you to capitalize on recession proof oppurtunities.
Transition into recession proof industries
You need to transition into job and business that can survive ot thrive in a recession. Not every job or business will thrive in a recession. Some will find that their vocation in certain industries will be terminated.
Which jobs and vovations are still needed in both good and bad times ? Are policeman less needed in a bad time ? are goverments quick to lay of staff during a recession ? these are some pertinent you must ask and do research on. WEach country economic environment is different and certain types of jobs or business deemed recession proof in one country may not be at all in another.
You must transition from jobs where there is more supply than demand or ones that will phase out during a recession. You also might need to restructrure your business before the recession or diversity to a more cash intensive model so that you can get regular csh flow during a recession.
Understand the times and make wise decisions accordingly.
Plan towards self reliance of basic needs
You must start putting plans into place to own our own food supply and shelter before a recession or depression, food will become extremely expensive, huge conglomerats are already working towards controlong the prices and control the global economy as to the prices of goods. That same thing happened wih diamonds and de bbers will also happen with basic food items.
As an organization or individual, you must take steps to own your own food supply. Learn about urban farming and community lots where you as a neightbourhood can grow your own supply. There are already clubs and associations working toward this and you can join the right ones. Don’t join those that only peach doom and gloom without intelligence and basic, but moderate groups that are concerned about healthy organic food and food supply.
Avoid any unnecessary upgrading expenditure
Don’t upscale your house or car or any other unneeded expenditure before a recession. Even if time look good and you feel you can afford it, do not make large purchase with cash or on credit just before a recession.