All Human Beings Are Entrepreneurs.

During Normal Times Or Boom Times, There Are Some Parts Of The Business That Are Going To So Well, That That Can Cover For Weakness And Other Parts Of The Business. What Happens During Recessions, Is You Have Less Windfalls Just Helping You Cover Mistakes. You Have To Be More Careful About Not Making Mistakes.

One Of The Ways They Run Forward Is By Viewing The Thing They’re Doing As Something That’s Going To Be The Whole World.

Times Of Economic Crises Can Change What The Competitive Landscape Looks Like, Because When, For Example, You Have Boom Times, Capital Is Easy To Come By, Growth Is Easy, Sometimes What You Focus On Is, You Know, How To Accelerate In The Boom. During Economic Crises, The Question Is, The Companies That Come Out Of, You Know, That Are Sailing Through That With The Best Liquidity, Both Assets On The Balance Sheet, Making Money, Ability To Grow Their Businesses, Get A Disproportionate Competitive Advantage.

When You Think About Being Contrarian, You Have To Think About - how Is It That Smart People Will Disagree With Me, Disagree With Me ...from A Position Of Intelligence, And There Is Something That I Know That They Don't Know, That Will Actually In Fact Play Out To Be True.

Now, In Economic Crises Times, The Kind Of Things You're Looking At Is It's Generally Harder To Get Capital, Revenue Growth May Be More, Revenue Lines May Be Unstable Or Growth May Be Less Easy To Predict That You're Going To Get To. And So What You Do Is You Take A Certain Conservative Approach Of When, As All Entrepreneurs Should Do, You Plan For Both Good Luck And Bad Luck, You Put Extra Time On, "okay, If I Have Bad Luck, What Do I Do About That?"