 many businesses are shutting down right now due to the pandemic going around the world and everybody is in a tough time and hopefully we can pull through together. Not hopefully, I know for a fact that we can pull through together and so I got this question that relates to everybody. I'm pretty sure many small businesses all around the world are going through this exact situation. I got this question. I'm a health coach and personal trainer. Just as I started my business and lined up a client, she hit the fan. I have about a couple of bucks to my name. How do you think I could make this situation work for me? I've got some work lined up to get by in the meantime. That's a great question and many of us are going through a situation where clients are canceling. Everybody's going into emergency mode right now and we're probably going to see the biggest recession we've yet to see but we can pull through together and as this individual said I want to kind of blur out that person's name. He's talking about how can I make this into a silver lining. Listen, there's first things that we have to talk about over here. Let's not even talk about the business aspect first. Let's talk about your current situation as a person. I would definitely figure out ways where A, are you talking to your current family? The first thing when it comes to crises like this is like, can you pay your mortgage? Can you pay your rent? Forget the fucking business for now. The primary things that matter is the fundamental things as a human being. Roof over your head and food on the table. I urge you guys, we need to come together as a community. Reach out to your friends and family. Reach out to anybody within your network and figure out how you can reduce your burn right now. If you are in a condo or if you are paying rent or mortgage, is there a way you can defer your mortgage? If you're paying rent, is there a way that you can talk to your landlord to defer rent? If not, is there someone else you can fall back on? Can you go with your parents? Can you go to your friends? Is there a support network right now that you can go towards to reduce your burn? The number one thing right now is not more or less focusing on the business right away. It's more or less reducing absolute burn right now. And the biggest burn, the biggest burn for everybody, more or less is shelter. Whether you are an owner of a property or whether you're renting, that is the biggest overhead people have is roof over their head. So that's the first thing I urge is really focus on reducing the burn. Once you've reduced your burn, then the next thing you got to focus on is like, listen, obviously, at least in this case, as a health coach or personal trainer, a lot of that is dependent on one to one training is dependent on socialization is dependent on the gyms being open. It's dependent on people feeling safe to use a tube. So at least for the foreseeable future, this isn't exactly at play. People aren't going on the fucking subway. People are going to be scared. Even after quote unquote, the pandemic is over. The psychology of people is to be weary. There is a bell curve of time that people will need to get comfortable until they start socializing again. A lot of people are going to be very hesitant to go one to one specifically gyms. That being said, this is an opportunity to figure out, listen, my business has been very anti fragile from the get go. In fact, most businesses are anti fragile. If you look at the average small to medium sized business, there are one way runway for cash is about two weeks. And right now, we're about less than four days away from the major crunch for small businesses completely claiming bankruptcy. So the question for you then is like, how can you restructure your business in the future? Instead of just relying on this one source of income, all great businesses in the world have multiple streams of income, whether that's a product suite, whether it's products, services, consulting, etc. So in this time, I would be focusing on once you've reduced your burn, and hopefully you have the optionality for that is focusing on couple of things. A, figuring out different sources of income within your industry. In this case, you're doing one to one. This might give you opportunities to branch off to do online things. So online training, online coaching, online academies. This might maybe even branch off to completely different auxiliary businesses that you never thought up before. But I'm going to also kind of correlate to what Gary V talks about is like this is an excellent opportunity for you to double down and start branding you. I'm a big, big, big believer. The businesses that do well in the future are going to be very human one to one businesses. So start branding yourself, double down on content creation. Let people know that you're the expert within this category. Start doing YouTube, start doing Instagram, start doing Facebook, start doing the whole nine and figure out what works for you. Remember, we're not all the same. Just because I'm doing YouTube doesn't mean you should be, you know, you should be doing YouTube. Figure out what works for you. But I would be, I'll be focusing extremely on content production right now in building up your brand loyalty, building up your brand equity and building a tribe. There's a really good paper by Kevin Kelly called Your 1,000 True Fans. It's a phenomenal read, short read, under 10 minute read. I highly recommend you go read that paper because it's not more or less about I need to build this gigantic business. No, it's about building your tribe. We need to go back into how human beings were before. We are tribal creatures. We yearn connection. We yearn to have rapport. We yearn to be connected to somebody that gets us, that understands us. And so focus on your craft, focus on how can you build your business in different ways. Because remember guys, this is also a good opportunity for everybody out there. It doesn't matter who you are. These types of economic situations and pandemics happen every century, every 100 years. So it's not like we haven't gone through worse times. Think about World War II, World War I, the Spanish flu. Like we've been hit with some serious fucking shit out there. So if you can survive this and master your craft, whether that is an entrepreneur, in fact, not even mastering craft as an entrepreneur, this is mastering your psychology, becoming stoic. You know, if you can survive this, like, yo, fuck all this shit. I'm not going to let it get to my head. I'm going to use this as an opportunity to better myself. I'm going to use this as an opportunity to learn more stuff. I'm going to use this opportunity to master my craft as a business operator. I'm going to use this opportunity to understand finance a little bit better, because when you're in a crunch like this, everybody starts understanding their finances. Oh shit, I'm over leveraged. I have loans over here. My burn is this. I got to fucking consolidate all this shit all at once. So it's a crash course on financial literacy. So hopefully this helps, man. So bottom of the line, reduce your burn, start mastering your craft and start pumping out content out there and really let people know that you are the individual. You are the fucking guy when it comes to this shit. And this applies to all of you in any business. Start connecting with your audience. Don't hide behind just ads. People want human connection. It's the empathy that we crave for these days. This is a problem with like modern industrialization and the big ass fucking companies. There's no empathy. There's no connection. We feel cold when we do business with them. In my one of my thesis is in the future, in the future, I mean now this is the precipice. This is where we're starting. This is where we're starting right now. It's going to be focusing more on small businesses, on local supply chains, focusing, forget about scaling. You don't need a hundred million dollar company. If you can run a sustainable million dollar company with a 30 to 40% margin, you are fucking good. I hope this video helps you. I hope this video helps other people. If you guys have any questions, if you guys need help from me, if you guys need whatever, please reach out. Leave a comment below this video and listen, we're all in this together and we're here to help each other out. Have a great evening. Talk to you guys soon. Peace out.