This question comes from John who writes:
“I listen to your show all of the time. I have been studying macro economics hard for about 5 years. I feel very well informed and knowledgeable regarding the macro economic picture most of the time, Then I listen to you and I feel like a brand new apprentice. You are one the smartest people I have listened to. And I listen to a lot, including all rich dad advisors.
My question is this. I am a business owner in the United States teaching martial arts, with a primary focus on teaching children ages 5-10 years of age. I have several full time and part time team members. I am looking to expand my operation as we are very busy at our 1 location, to the point where we are busting at the seams. We have received top notch mentoring and they have provided us top notch systems. We have all of our systems down and are able to duplicate them with more locations and provide more opportunity. My concern is the constant attention on recession. I owned the business in 2008 and rode out the last major recession, but I was a business of 3 employees then. Today we are 15. I want to expand but have fears I am doing it at the height of the market, and that when I do pull the trigger the next recession will be close behind and then I won’t be able to pay my bills. This is the only thing keeping me from pulling the trigger and providing more opportunity and more jobs. Should I just go for it knowing that we know how to expand and duplicate our systems, or should I wait for a year and see what happens? I would love to know your thoughts.”
Host: Victor Menasce