E50: Preparing Your Business and Finances for Cultural and Economic Shifts with Shawn Dill

Learn from an expert how to future-proof your business! 

In this landmark 50th episode of the Wealth Well Done podcast, Eric Scovill sits down with his longtime business coach and mentor Shawn Dill. Shawn has provided Eric invaluable guidance over the years, helping him achieve success in his business and beyond. 

From navigating political trends to adapting with changing technologies, gain insights on maintaining stability during uncertain times. Shawn also offers valuable advice for scaling your company to more affluent clientele. Learn trends in areas like social media, AI, and podcasting that can impact businesses. 

Plus, don't miss Shawn's inspiring personal story of overcoming obstacles and achieving success through the “Book Yourself Solid” program. 

Here are some topics from today’s discussion:

• Accurate economic predictions
• Navigating political polarization
• Trends in social media, AI and podcasting
• Scaling your business to affluent clients 
• Overcoming obstacles and achieving success

Episode Highlights:

[04:46] Looking Ahead to Uncertain Times

Shawn provides his perspective on the current economic climate and shares why he believes continued decline is ahead despite attempts at a soft landing. With accurate predictions of COVID's early impact under his belt, his forecasts offer valuable insight for financial planning.

[12:00] Navigating Political Polarization and Maintaining Neutrality

Understand multiple perspectives and plan for either election outcome rather than making impulsive decisions based solely on partisan views. Shawn's advice is to pick their lane but also consider all possibilities as one side is guaranteed to win each election cycle.

[16:11] Tracing Societal Shifts Through 40-Year Cycles

Shawn draws from the insights of book “Pendulum” to trace the 40-year cycles that have shifted societies between more individualistic "me" eras and more collective "we" periods throughout history. He notes that 1983 marked the peak of the last "me society" while 2023 represents the height of the current "we society" trend. He points to the rise of social media in the early 2000s as signaling the move towards greater collectivism after the individualism of the 1980s. Shawn also predicts AI may be the force that signals the next major shift away from a "we" mindset in the coming decades.

[30:45] Preparing Businesses for Recession

Shawn discusses the difference between serving upmarket versus downmarket clients. While a recession may negatively impact those at all wealth levels, the effects are significantly greater for those with less wealth and purchasing power as even a small percentage loss can disrupt their budgets and lifestyles. Shawn recommends that small and mid-sized businesses focus on marketing, experiences, and sales processes catered to those in the upper middle and upper classes who still retain the ability to spend during an economic downturn.

Resources Mentioned:

www.shawndill.com

www.bookyourselfsolid.com 

Pendulum by Roy H. Williams and Michael R. Drew