How to Survive an Economic Collapse

Solomon Ali Economic Collapse

To survive the, economic collapse, first thing I would say you need to do is you’re going to have to acknowledge where you are financially. The beauty of an, economic, downturn is that  there are more successful people created during a period of, economic collapse, than any other times. The, economic collapse 2020, is no different.

My guest today is Solomon Ali author of “The Empowered Wealth Bible” and “Economic Survival” and we’re going to be talking today on “How to survive an, economic, collapse because I think we’re heading to an, economic, collapse.

Introduction to How to Survive an Economic Collapse

Solomon, I’m very curious to hear your backstory, how did you become an expert on, economic, conditions?

Immediately after high school, I went into the military.  I went to a predominantly white high school and my guidance counselor said I had good GPA; but they never directed me to go to college or university,  so I went straight into the military.  I made it to the rank of sergeant and learned how to manage people and how to build a team.

When I got out of the military and went home, I couldn’t find a job, common story.  So I started helping my parents clean up their rental properties.  I ended up organizing the cleaning crews. We became a mobile company, cleaning up apartments, painting them, doing minor repairs so that the apartments could be ready for the next tenant to move in.  I had a team of people structured like an assembly line.  We had people come and do the masking of everything.  We would mask off four or five apartments at one time. The next group would come in and they would clean the tubs and the toilets, and the next guy would come in and paint it. Then someone would come back and take all the masking tape off, vacuum and shampoo the carpets and we were done.

Sponsored AD

Author Betty Tucker shares the story of her life in her memoir, Don’t Worry About The Mule Going Blind.

Betty Tucker came of age in Belle Glade, Florida, infamous for its poverty and violence. Her childhood was one of de-bili-ta-ting poverty, borne of racism, exploitive migrant labor, multiple rapes and other abuse, and chronic illness among her family and acquaintances … the list is long and bitter.

Betty moved to California, earned her College  degree, and raised a family. Then, in 1997, she began a long and eventually successful search for the twin girls she had given up for adoption thirty years earlier.

Don’t worry about the Mule going Blind is a book about Fear, insecurity, sexual abuse, and neglect: This memoir will look beyond the description of these difficulties in the author’s life to examine how she acquired the tools she needed to take more control of her life, and what decisions impacted her choices.

Pick up your copy today! Don’t worry about the Mule going Blind now available on Amazon.

Now that is, economic, survival. Surviving the rental income business.  That sounds like the best structured management cleaning that I have ever heard, and I do property management as a Realtor!

We had over 70 people on our team. We went from zero revenues, to a little over 6 million in 12 months! But I was not able to collect all my money.  I had all these accounts receivables and I had payroll that was coming up.  So I got on my knees and prayed one night and I was talking to God, and the next day I’m looking in the LA Times and I see a company advertising for accounts receivables loans.  I called the guy and left a message on Sunday he calls me promptly on Monday morning and he went over everything. I made the trip to San Bernardino, California and got a check for $380,000. He bought all my $500,000 accounts receivable accounts.

Sponsor The Transform Your Mind Podcast
Sponsor The Transform Your Mind Podcast

That was my first lesson on, economic, survival in the form of risk management.  You do not want to have a huge concentration of your business coming just from one or two customers, you want to make sure that your company it’s more diversified.

That is what I do today. I consult companies on how to survive, economic collapse, or downturns because they come about every 10 years. I teach them how to scale, how to grow, and how to access the finance world.  In other words how to arrange capital, so they can do their roll-ups for this , economic collapse 2020.

We check out the competition and then we begin to set up what I call mirroring.  We design a program that fits my client so that they can grow and scale their business and we’re able to access capital for them.  I may have private equity companies that I have arrangements with and I get very passionate about helping others fulfill their dreams.

Sponsored Ad

Stuck at home? Here is the perfect store for you. Whether you are looking for medical supplies, home workout equipment, or survival gear, this is the place for you! Visit www.consumermedicalsupplies.com and get a  10 percent discount when you Use promo code MYRNA.  Hurry, this is only while supplies last!

This website was created by a veteran who wants to help those ashore and abroad, so support our military while you shop! That’s www.consumermedicalsupplies.com

Transform your Mind Spotify Podcast
Download on Spotify

What does your book “The Empowered Wealth Bible” teach us about, Economic Collapse 2020?

That book speaks in reference to the different tricks of the trade, how you survive, economically, and raise the capital for your business. It teaches you how to use personal credit and credit cards.

It is extremely helpful to the new entrepreneur trying to fund his business as well to the mother wanting the best for her family.

There is one chapter in the book where we talk about how we could take your credit card money’s right from your credit cards and apply it to your mortgage and rotate that around cutting the interest rate on your mortgage and shortening the time period.  The book also shows you how to start a business with very little to no money and still be okay in an, economic collapse. Things like that, it is all about, economic, survival.

I started my private equity company back in 2009, I started with two hundred and fifty dollars and by the end of a year or so I was making millions of dollars.

Sponsored AD

Need Rocket Fuel for your immune system? Weather you have a Healthy lifestyle or not, no one escapes the consequences of cellular breakdown.

Think of your body as the most complex communication network that exists. Every second of every day your cells are passing tremendous amounts of information, from cell to cell and throughout every system of your body.  Any breakdown in this vital communication and you cannot achieve your full health or healing potential. Your body would be like a house on fire and you can’t call the fire department because you have no cell signal. So you watch your home go up in flames!

This is what Asea REE-dox signaling supplement does. We have the only technology in the world that can increase this critical cell signaling throughout your body.
Asea REE-dox Signaling supplement has been clinically proven to boost your immune system to optimal levels.

For more information go to www.iseeuhealthy.ca

Transform Your Mind iHeart Radio
iHeart Radio

In Les Brown’s new book “You got to be hungry” you must be hungry for success. You must be hungry  to achieve your set goals and work your strategies to achieve, economic, survival.

We are now smack in the, coronavirus, pandemic and the, economic collapse 2020.   Companies are closed, millions of people have lost their jobs and everybody is scared about their future.  It’s really interesting that you had the premonition to write the book, Economic Survival, before we faced an, economic, collapse.

I understand we are heading into a recession even a depression.

Sponsored AD

My tax lady Miami.com wants to help you Get your Stimulus Check!
The IRS has released their new Web Tool to update your info in their systems for your stimulus payment :
If you have already filed your return, you don’t need to do anything.

If you didn’t file yet, download the My Tax Lady Miami App NOW and let’s get your refund AND your Stimulus Payment 🤑
If you know someone who doesn’t usually have to file a tax return (the elderly, disabled and/or very low income individuals) and wants to receive their stimulus payment,  https://mytaxladymiami.com/ or have them contact My tax lady Miami  to file a simple return ASAP.

Transform your Mind TuneIn Radio
TuneIn Radio

https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

 

How would we survive economically if the US, economy, was to go into, economic collapse 2020?

Firstly,  I’m going to say we’re already in a recession. Our, economy, is already seeing an, economic collapse 2020. We haven’t saw seen all the manifestations of what’s going to happen, but anytime you shut down businesses state by state, you’re losing your, economic, base within those states.  So all of these businesses shutting down resulted in I think as of today there’s over 37 million people filing for unemployment.

Let’s put that in perspective, that’s not counting the people who are self-employed, who are not able to file for unemployment.  So you have to add millions or more to that number, that’s not also counting the people who are just giving up and not looking for work. That’s millions more.

I predict that the US unemployed will be closer to about 60 or 70 million by the 3rd quarter. I predict we will see an, economic collapse.

I’m going to Segway  over to the African American businesses.  On average there’s approximately five million businesses existing in the United States with ten or more employees.

African American companies there are only about one hundred thousand or so with ten or more employees.  That’s a big and significant difference between five million to a hundred thousand.  That tells us that the majority of us, African-Americans,  are working for other people and those jobs are no longer going to be there in the future.

Sponsored AD

Want access to learning tools that will help you improve your life? Visit www.loyaldetermined.com! Loyal Determined offers online dating courses for both women and men which are easy to follow and will help you improve your existing relationship or assist you in making your next relationship succeed.

Loyal Determined also offers online math courses for students who want to sharpen their skills in courses like Algebra and Algebra 2 in an engaging and effective way. Loyal Determined is constantly offering awesome new online courses to help you improve your life so be sure to check their website frequently. Visit www.loyaldetermined.com today!

Transform your Mind Stitcher
Transform your Mind Stitcher

Small businesses create the majority of the jobs, however your larger companies employ more people.  So when you place all this in perspective African Americans are not going to have anywhere to go and will suffer more from an, economic collapse.

Here are some strategies on surviving an, Economic Collapse:

  • To survive the, economic collapse, first thing I would say you need to do is you’re going to have to acknowledge where you are financially. The beauty of an, economic, downturn is that  there are more successful people created during a period of, economic collapse, than any other times. You have to solve someone else’s problem, you have to be of service to someone,  so that now you have people looking for you because you become in demand.

New businesses will be created like, AirBnb, created in the 2009 financial crisis.

We are losing millions of businesses but new businesses are created during an, economic collapse.

  1. After you solve someone’s problem is you have to educate yourself. You have to remove the fear, because fear will paralyze you.  Once you remove the fear you will be able to go out and help someone else.
  2. A lot of people that have the employee mindset will have to switch because they are not going to do well. Unfortunately our, economy,  and, economic survival, depends on developing an entrepreneurial mindset.  We’re going to be living in the, economy,  where a job no longer exists.  You’re going to be a subcontractor, you’re going to be an independent .
  3. You have to look at where are you today financially and reset your priorities. Instead of loosing your home in the, economic, downturn because you lost your job, maybe your parents have a room you could live in and you could rent your house. You’re going to have to be willing to do what is necessary for, economic survival.
  4. Immediately begin to renegotiate your debt so that you can have more cash flow.
  5. Diversify – you may have to do some joint ventures with other companies or other people.

Sponsored AD

Ladies, if you’re looking for premium luxury hair extensions and products, take a moment and check out myminghair.com. MING HAIR is your #1 premium virgin hair company for quality Indian and Brazilian hair, lace wigs, magnetic lashes and custom hair & beauty accessories! We want you to look and feel your best, so we offer a wide array of styles, lengths, custom colors, bundle deals and much more!

We believe in customer satisfaction which is why you earn rewards on every purchase! You will not be disappointed. Our hair is bouncy, luxurious, long-lasting, and stylish!
Visit myminghair.com today and receive 20 percent off your first order and get exclusive access to other promotions. We look forward to making you a long-lasting customer with MING HAIR.

 

 

Author interview Transform Your Mind Podcast
Author interview Transform Your Mind Podcast

Conclusion

How do you think the Real Estate Market will fare in this, economic collapse 2020?

I think we’re about to see by the last quarter of this year a lot of foreclosures will begin to take place.  I believe a lot of people will begin to lose their homes.

For those investors who have the cash flow and the ability to buy, they will be able to pick up properties at a significant discount, because the banks are going to have to give rid of those assets off of their books.  Credit lines will be cut by the end of the third quarter.  I’m pretty sure maybe even at the beginning of the third quarter the credit lines will begin to get cut, which will have a trickle effect on the, economy.

What we do know is that our, economy,  is not coming back anytime soon.  We may have as many as 60 million people unemployed.  People don’t have any reserves and if you don’t have any reserves at the beginning of the, economic collapse, then what is going to happen after you have been unemployed for a year.  Robert Kawasaki, of Rich Dad Poor Dad,  was saying that what you do is you find out your runway for your business or personal life. How much money you have in the bank to take care of the essentials, housing, food and transportation?

Robert is  absolutely right.  We were all taught to have six months of reserves,  but if the last, economic collapse, in 2009 taught us anything, is that it took people 18 months on average to get a job so we were wrong saying to have six months of reserves,  you need to literally have two years of reserves. Most don’t even have one month.

How does Private Equity Investing help with, economic survival?

I love private equity, I love loaning out money and helping people to fulfill their dreams.

I have a passion right now for minority businesses. There’s approximately 13,000 publicly traded companies all together but, there’s only 13 black publicly traded companies currently.  I sat on the board of directors of three and I was Officer of three all at the same time, where I was responsible to help them raise the capital they needed to, survive economically. The companies that I helped, they were not only successful they became in the top 5 companies.

To purchase any of Solomon Rc Ali books or for consulting services visit his website

https://www.solomonrcali.info/ follow him on twitter and Instagram and Facebook @supportsolomon.

Additional Resources

https://blog.myhelps.us/how-transform-your-career-with-purpose/

https://www.learnhowtobecome.org/entrepreneur/

 

 

 

5 Questions to Ask Before Going with Your Gut Feeling

Gut feeling about relationship

Never go with your, gut feelings, because what is true is that your gut, intuition, is often going to be lying to you.  Just like people who are depressed and anxious feel that there’s something to be said about, gut feelings, when there’s not, and feel there’s a threat when there is not. Instead use  counter intuitive strategies to make decisions.

In this episode of the Transform your Mind to Transform your Life podcast, I interview Dr Gleb Tsipursky, Cognitive Neuroscientist and Behavioral Economist and author of the book “Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters.” 

What was your path in becoming a Cognitive Neuroscientist?

I was 18 in 1999 when the Prince song party like it’s 1999 was Hot. A lot of leaders were partying because their companies were going boom they were making a lot of a lot of money.  Billions of dollars were invested into  the dot.com industry, and just a couple of years later when I was 21 in 2002, they all went bust. The leaders of the dot.com era made terrible decisions. They trusted their, Gut feelings, and went bust! That and the fact I saw my father trust his, gut feelings, and made terrible decisions, made me study to become a Cognitive Neuroscientist.

Leaders who went with their, gut feelings, made bad decisions

A lot of  Leaders who went with, gut feelings, went to jail.  Their, gut instincts, were way off. Never trust just your, gut feelings.  I was curious about what was going on, so I decided to study the neuroscience of the brain and how people think. I became a Trainer, Consultant, and Coach for business leaders.

Cognitive neuroscience,  is a subfield of neuroscience that studies the biological processes that underlie human cognition, especially in regards to the relation between brain structures, activity and cognitive functions. The purpose of it is to determine how the brain functions and achieves performance.is the study of how our brain works, how we make decisions and what our patterns of decision-making are.  I also studied the specific judgment errors that we make when we make decisions purely from, gut feelings.

Sponsored AD

Motor Club or America is your friend on the road offering you complete piece of mind for you, your family and your vehicle. Total security benefits cover you at work, at home and even at play.

  • Membership includes the following and much more:
    Unlimited Emergency road service- for your car, boat, RV and trucks  with 100 mile towing;
  • Up to $500 Emergency Room Benefit,
  • Up to $2,000 in attorney fees;
  • $25,000 Bail Bonds when charged with vehicular manslaughter or auto related negligent homicide;
  • $150 daily Hospital benefit and $50,000 Accidental Death Benefit

Many more benefits and fantastic services await you. This isn’t road insurance, it’s road Assurance. To find out more head over to www.morethan4tows.com
And remember, when the unexpected happens, Motor Club Of America has you covered.

Transform your Mind Stitcher
Transform your Mind Stitcher

One of the first things I wanted to know because as a, Lifecoach myself, when I sit down in a coaching session, I’m looking for certain things in order for me to understand where my clients are coming from.  As a cognitive neuroscientist and behavioral economist, what are you looking for when you were consulting with these business leaders?

Coaching to, Gut Instinct

The first thing I’m looking for is to make sure the person is coachable.  A lot of people would like to go to a coach, but they’re not coachable.  Meaning that they’re not willing to listen to external feedback and accept that sometimes, someone looking from the outside is going to be wiser than the person looking from the inside and making those, gut feeling,  decisions.

I also try to find an issue of disagreement and in the first session, to see how the person reacts to this disagreement.  Because if this person’s is not able to deal with this disagreement, then we’re not going to be able to have an effective coaching relationship. Because as a coach  I’m going to tell you what I think, and if you can’t accept feedback,  we can’t work together and I’d like to discover that as quickly as possible.

Sponsored AD

Is the pain in your body so bad that you don’t want to get out of bed?
Are your skin conditions getting on your last nerve?
Maybe you are so tired that getting up and answering that door, feels like you just ran a marathon!

If so its time for you to click on over to cbdahealing.com YES! ..
That’s cbdahealing.com
We have certified hemp-based products and MORE!
That will help you get the fast relief and energy you need to start your day!

We are GMP- CERTIFIED/ GMO-FREE/ CRUELTY-FREE and made in the GREAT U.S.A.
But that’s not all !
We have a 60- day trial offer even if the bottle is empty YES!
That’s even if the bottle is empty! So head on over to cbdahealing .com
That’s cbdahealing.com

Transform your Mind Spotify Podcast
Download on Spotify

 

The other thing that I look for at the start of the session is how emotionally aware this person is.  That’s the quality of emotional intelligence.

Emotional intelligence refers to two broad skill sets:

  • emotional awareness – where is this person emotions
  • and emotional management – how are they able to manage their emotions.

Sponsored AD

With the Strategic Funding Group, your personal loan don’t have to be scary or jammed up with red tape. We ARE THE ONLY GROUP GETTING PEOPLE OVER $250,000 IN CASH CONSISTENTLY.

The Strategic Funding Group has leveraged our 30 plus combined years helping clients get approved for loans. We preapprove you based on your credit report and scores and you pay no upfront fees.

Your approval odds, are at a maximum when you fund with us.

We provide a step by step process. IF YOU CAN AND ARE WILLING TO READ, THEN YOU CAN RECEIVE MONEY.
Cash MONEY is deposited into your bank account. NOT A STACK OF CREDIT CARDS.

To get started, email with your name, number, or email address to info@strategicfunding.biz

Our process takes 1-10 days.

YOU MUST BE WILLING TO FOLLOW SIMPLE DIRECTIONS and READ OUR INSTRUCTIONS .
You must have a 670 credit Score or better Or be willing to sign up for a credit monitoring service to discover your score.
Want to make money from home? Need loan repayment assistance? We do that too. AGAIN EMAIL WITH YOUR CONTACT INFO, INCLUDING YOUR NAME, PHONE # AND YOUR EMAIL ADDRESS to info@strategicfunding.biz  or

Contact us on the web at www.strategicfunding.biz and get your loan started.

https://www.strategicfunding.biz/

Transform Your Mind iHeart Radio
iHeart Radio

It is really an important element for me to understand.  Do I need to teach this person these skills of emotional intelligence, personal skills, emotional awareness and emotional management? Because in order to make good decisions, instead of going with, gut feelings,  we need to realize that our emotions are the overwhelming factor driving our, gut intuition and, gut instinct.  Our emotions shape about 80 to 90 percent of our, gut feelings, and  decision-making.  Going with your, gut feelings, means going with your, gut instinct intuition,  and they’re often wrong, so this is a problem.

When my clients notice that there are goals they want to achieve from coaching are at odds with their natural inclinations and natural intuition, they change their natural state.  One of the very important aspects of coaching, is to change your natural state of activities otherwise there is no point in coaching.

One key aspect of coaching, is to change from where you are today to where you want to be

I’m looking for that as well how aware is the person of their emotions and how able are they to manage their emotions and, gut feelings.

Sponsored AD

Looking for Yoga pants that fit like a glove, and feel like  you have nothing on? Then check out myyogawear.net

Yoga pants made from buttery soft fabric and are perfect for running, jumping and dancing.

Over 600 yoga pants and bras in stock. Ships directly from the United States so no long overseas delay.  5% discount on entire order with discount code turkey13 That website again is www.myyogawear.net

Transform your Mind TuneIn Radio
TuneIn Radio

Leaders shouldn’t just use, gut feelings, to make decisions

As a Cognitive Neuroscientist and Behavioral Economist, you had enough data to write a book on disaster avoidance and that’s also name of your company.  Does your research indicate that most people who follow their, gut feelings, or, gut instinct, make the wrong decisions?

Yes, overwhelmingly people who just go with their, gut feelings, and make decisions by, gut reaction, as opposed to people who check with their heads before going with their, gut feelings, make the wrong decisions.

Let’s look at small businesses.  A lot of small business owners who don’t have training go with their, gut feeling, and open up a business. They feel that they can do this job, I can do this work.  I can run this restaurant or this hair salon or I can be a plumber. But when you look at the actual statistics,  what happens to small businesses is about half of them fail within the first five years,  about two-thirds of them fail within the first ten years;  because people make decisions based on, gut feelings.  They just go with their, gut instincts,  they don’t check with their head before going with their,  gut feeling. Never just go with your, gut feelings.

Sponsored AD

Travel 10 is a market disrupt-er in the travel and lifestyle industry. Our mission is to create a subscription plan and an income opportunity for every person in America. Our subscribers can receive the best pricing on hotels, resorts and lifestyle benefits worldwide which aren’t available to the general public. Our lowest subscription cost is only $10 per month which saves the subscriber at least $1500 or more a year. For and an extra $10 a month, you can become a Travel Lifestyle Advocate and be able to generate an income for Your self simply by sharing Travel 10 with others. Travel 10 also gives away $1,000 travel savings cards at no cost to you. Simply visit unlockthegift.org to learn more.

Podbean Transform your Mind Podcast

Podbean

 

5 Questions to Ask Before Going with Your, Gut Feeling

That business leader this who wants to open up a hair salon needs to learn about these cognitive biases,  the 30 most dangerous ones that she might be suffering from

I list them all in my book “Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters.” 

I will list 5 of them here.

  1. The Confirmation Bias – where she might be looking for information from, gut feelings, that confirms her beliefs and ignoring information that do not confirm her beliefs.
  2. Objective Adviser – Understanding the failure rate for hair salons. The failure rate for hair salons are a  little bit higher than the failure rate for typical small businesses,  so the first question to answer is why she would not fail. What makes her so special ? Never go with just, gut feelings.
  3. Get uncomfortable – Look for information that is uncomfortable and that to prove to herself whether this is the right decision or not.
  4. Check for the optimism bias. Business leaders who open up new restaurants, new salon or new small businesses tech startups tend to be very optimistic. They are too optimistic compared to the reality of the situation.
  5. Exit strategy if Business fails – what are all the reasons why it would fail.  Was it the wrong location? Management etc?

    Additional Resources Never go with Your, Gut Feelings

    https://www.youtube.com/watch?v=5V3QWa9WdzQ

 

https://blog.myhelps.us/how-to-use-intuition-to-transform-your-life/

 

How to Live in Infinite Possibility

https://blog.myhelps.us/the-top-7-reasons-meditation-can-help-your-business-increase-revenues/

https://www.hopkinsmedicine.org/health/wellness-and-prevention/the-brain-gut-connection

https://www.scientificamerican.com/article/gut-second-brain/

https://lonerwolf.com/gut-instincts/