Article 5: What's worse than an economic recession? (Coronavirus & Covid-19) by Shane Hindocha
In these uncertain times, it is important to look ahead, stay attentive and proactively navigate your way through the turmoil.
My name is Shane Hindocha. I am a father, a husband, an active property investor & an entrepreneur. I have lived through 2 recessions already. If we are going down this route (recession) again, a blend of hindsight and foresight is welcomed. Whilst my outlook on life is generally positive, I will remain objective and then form an opinion.
My aim is to break complex information down into digestible and easy-to-understand formats…and in particular, how the current situation will affect property prices in the UK.
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What's worse than an economic recession?
The definition of a recession is:
“A period of temporary economic decline
mainly observed as a slowdown in output, generally identified by a fall in GDP
in 2 successive quarters.”
Basically, if the output stops, employment falls, sales and trade activities fall....it is widely considered as a recession...so long as this happens for 2 successive quarters (ie. 6 months. Each quarter being 3 months)
However, a slightly deeper, often over-looked question is...
Are we guilty of being in a our own personal recession?
Have we, in the past, had 2 successive quarters where we haven't pushed ourselves as individuals?
Have we had 2 sets of successive 3-month periods where we haven't grown, haven't increased our output?...and then fallen into our own personal recession...?
Now, when we are being advised to stay at home, self-isolate and go into lockdown...are you reducing your output...or are you taking this opportunity, whilst you have the time, to concentrate on what matters to you. I see it as a time to self-reflect and do your vision board, draw up that dream business plan, write your positive affirmations, learn about that subject you've always wanted to learn about, read that book that has been getting dusty on your shelf....work out your passion, move towards your passion.
Don't fall into your own recession and cap your potential. Output is key. Constant growth should be compulsory for everyone now.
Daily Habits that enable productivity
Here are some things that I do on a daily basis that help me stay focused, driven & productive:
1) Meditate
2) Exercise
3) Read
4) Look at my vision board
5) Write and read my affirmations
6) Work on my business
7) Be grateful
8) Express my love to loved ones
9) Help others
10) Write down challenges
11) Be proactive
12) Practice positivity
13) Pursue my passions
14) Educate myself
The big question is, are you being productive during this turbulent period...and where are you going to be when we recover?
Check out this short video where I provide some short commentary: https://youtu.be/1WMFevRT7F4
Be the best version of yourself.
Stay safe, remain positive & be productive.