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25 Years of Experience Has Led to This.

  • Ryan Tungseth
  • Nov 4, 2024
  • 2 min read


I learned to code during the dot-com boom.I learned the importance of a network and a unique skill set during the dot-com bust.I learned the danger of being overleveraged during the Great Recession.



Today, with AI, I see signs reminiscent of the dot-com era—a ground-floor revolution in business. And with signals of a possible recession, I believe we should prepare not just to endure but to thrive.


Here’s how to position yourself:


  1. Develop an Adaptable SkillsetIn fast-changing markets, versatility is power.

    • Embrace lifelong learning

    • Master both digital and human-centered skills

    • Invest in AI tools and training

  2. Build and Strengthen Your NetworkNetworks are your lifeline in turbulent times.

    • Nurture existing relationships

    • Seek mentors and offer mentorship

    • Attend events, even virtual ones

  3. Invest in Tools that Boost EfficiencyRecession or not, efficiency is a growth driver.

    • Try automation tools for repetitive tasks

    • Use AI to streamline content creation

    • Track performance metrics regularly

  4. Stay Cash Flow Positive and Avoid Over-LeveragingCash is king, especially in a recession.

    • Prioritize cash flow over growth-at-any-cost

    • Reserve credit lines for emergencies

    • Reduce unnecessary expenses

  5. Create Multiple Revenue StreamsDiversification helps you stay resilient.

    • Launch a side project

    • Offer consulting services

    • Explore passive income opportunities

  6. Stay Informed on Market TrendsKnowledge is a competitive advantage.

    • Follow economic reports

    • Track industry changes related to AI

    • Leverage insights to stay ahead

  7. Take Smart RisksRecession can create hidden opportunities.

    • Identify undervalued markets

    • Test small, then scale

    • Be bold but strategic

  8. Prioritize Mental and Physical HealthEndurance is key in challenging times.

    • Practice mindfulness

    • Schedule regular exercise

    • Disconnect when needed


The world is changing fast, but these principles are timeless. Let’s not just survive—let’s position ourselves to thrive, even amid uncertainty.

—What are you doing to prepare for the changes ahead? Do you have any additional tips? Let me know in the comments!


If you’re interested in learning more, follow me on LinkedIn and on X at @RTungseth for insights on thriving in uncertain times and leveraging AI for a competitive edge.


 
 
 

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