The usual reaction when times get tough is to cut the fat, tighten your belt, and let things go… In other words, to retreat. However, I am going to make the argument that you should expand when the rest of the world encourages you to contract

Before I make my case, I want you to know I am not a “Doomsday” and panic kind of guy. Nonetheless, I am still a practical person who can see the reality of the situation.

Right now, the whole world is in a state of emergency

To even have a chance of making it out alive, you need to lean into hard times… 

The 2020 pandemic should have taught you that, if nothing else. 

Businesses that made it adapted — and even prospered — during the lockdown because they refused to close up shop. DoorDash, Amazon, and Netflix are just a few examples

ARE YOU STILL NOT CONVINCED THAT YOU SHOULD EXPAND WHILE OTHER PEOPLE AND BUSINESSES CONTRACT? 

I’ll take it a step further. I am going to give the formula of how to do it… 

5 Steps to Expand While Others Contract

As I lay out the exact plan I’ve used to succeed in any economy, know one thing…

PANIC AND WORRY WON’T HELP YOU. 

You can acknowledge and be rational, but don’t let emotions take the wheel. Creating prosperity in a time of uncertainty takes a clear head. 

Keep that in mind as we go through these steps… 

1. Plan and Prepare for the Contraction 

While I don’t want you to succumb to fear, the first step to expansion is planning and preparing for the worst-case scenario

That can look like many different things. In the case of COVID-19, that meant having plenty of food and water for your home. Businesses also put systems in place for teams to work remotely. 

WHATEVER IT IS, DO IT SO YOU ARE SET UP FOR SUCCESS

2. Commit to Growth

The next step in your plan is to go all in on expansion. You must decide that it is going to happen, no matter what. 

Also, you have to accept the fact that failure to do so will result in contraction

MINDSET IS IMPORTANT IN EVERY VENTURE YOU TAKE ON. 

This one isn’t different. 

3. Follow the Money

The third action on your hit list is to answer two questions…

What industries are people flowing cash into right now?

Where does your money need to go?

MONEY FOLLOWS ATTENTION.

Once you figure this out, you’ll have the insights to pivot and prioritize your finances appropriately. Now, the fourth step is where many people end up breaking…

4. Persist Regardless of Initial Results

There is always the chance that you may have miscalculated or made some wrong choice at the outbreak of any kind of crisis. Still, it is critical that you continue…

Chances are that others made those same errors. The difference between them and you is that they quit

QUITTING IS THE ONLY GUARANTEE THAT YOU’LL LOSE. 

Keep going and implement this final action…

5. Do What Others Refuse to Do 

Lastly, take advantage of others throwing in the towel. It sounds bad to say it that way. The key to this plan working is expanding into other’s quit and taking their market share

The competition isn’t willing to bring selections in person? I’m driving to the client to present those options in person… 

They don’t do trials? I’m going to offer them a month free…

See what I’m doing here?

AFTER WHATEVER CONTRACTION YOU’RE FACED WITH, LIFE IS GOING TO GO ON. 

The choice is yours as to whether life ends for you or you continue to be affluent…

Expand vs Contract: What Will You Do?

To wrap this up, you need to expand — especially when the masses are being influenced to contract. This is not because of greed or being cutthroat. 

It is because I know that there is room for everyone in this world to be successful

Not only that, but only once we all are financially free will these contractions have less power over us. That is why I developed the Unbreakable Business Challenge and made it available for everyone to participate. 

In this free live training, I am going to give you even more formulas and tools to dominate even in an economic downturn. 

Until then, expand in every area you can, never stop learning, and be great.

– Grant Cardone

Disclaimer: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.

We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.

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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.