Starting a Business During an unstable Economy

Starting a business during an unstable economy, a SHTF situation, is the best way to survive an economic shift in the world. Since the beginning of the pandemic, entrepreneurship has never been more important than now.

With so many businesses closing down and many more scrambling to adapt to the “new normal” during this Covid era, it has put an enormous strain on the world’s economy.

This month, I’m starting a new series where I’ll be documenting the relaunch of my company. From setting up the LLC to business development and getting paid. This series will be an inside viewpoint of what it takes to start a business on a modest income and with a barebones idea.

I’ve owned several businesses before. A c-corp plumbing company, a sole proprietorship cleaning company, and few gig-styled enterprises. This new venture (well, Mike Berrios Media has been one of my gigs since 2010) is an LLC.

My experience with my plumbing construction company taught me many valuable lessons that I’m still dealing with today. I’ll go over those down the line.

After the collapse of 2008, I wasn’t too active as an entrepreneur.

I did do the self-employed “gig thing” way before it became a trend. I was a plumbing consultant, a real estate consultant, and a marketing associate for several companies.

Now I did all that with some level success and it helped to put food on the table. But I still felt unfulfilled. It wasn’t my dream business.

After having a company with a workforce that required weekly payroll and all the idiosyncratic nuances that came with it, I definitely didn’t want to go through that again. Enter the home-based business model.

I joined a few network marketing companies with very little success but I learned a great deal. Let me tell you something about failures. They are your greatest teachers.

In fact, I encourage everyone to just go out there and fail as many times as you can. Start a project or a business (small and manageable, of course) in what ever hobby or interest you may have.

Go and make all the mistakes and document the whole process. I use a journal in collaboration with my notes app on my iPhone. I journal all the highlights and the screw-ups that I had that day or week.

Trust me when I tell you that when you fail, it will be painful, but you’ll learn valuable lessons that otherwise you’d have to pay a mentor for.

That leads me to my next advise. Find mentors. I struggled with that then and I still struggle with it now. It can cost you money or time but it is highly beneficial for you to seek out a mentor in your niche.

You can begin launching a new business without a mentor and go out there and fail or find a mentor to cut down the learning curve. Either way you’re going to pay. I just hope you learn something.

Next thing is become a legal enterprise. That means create a legal entity or corporation. I used LegalZoom to establish my S-Corp. I’m not a attorney or accountant so do your own due diligence as to the best type of business structure. Remember, we’re doing things legal.

Using LegalZoom was easy and affordable. Their process was relatively quick and very informative.

Back to the attorney and CPA/accountant. It may seem like a costly expense but it’s money well spent to help you avoid trouble in the long run. But you have to hire the right people for the right job.

In other words, if you need legal assistance for anything business related or after you launch your business, hire an attorney who specializes in what ever business niche that you’re in.

Accounting stuff, make sure that you’re dealing with a CPA that’s knowledgeable of the type of industry that you’re in.

Finally, let’s talk about why you’d want to start a business in the first place.

Starting a business can help you generate more income. Save on taxes. And potentially build wealth. And an extra caveat, help you leave a mark in the world.

Becoming an entrepreneur like an Elon Musk, Russell Brunson or a Tony Robbins will allow you to not only help you and your family; but to also help others. You can become a philanthropist or your product/service could help an underserved part of the world.

What I’m saying is don’t just start a business only to make money. (I know, it’s hard for me say it too) Start a business for a “purpose” and a “why”, that will allow you to “give” to the world or whoever you want to help. By taking this approach it will motivate you get your business started and running right from the very beginning.

Look for the continuation of this series in the coming days and weeks ahead as I document my journey.

If you’re looking for business to start, I recommend affiliate marketing. This is what I’m doing now.

How To Get Started Up Again

If you have ever been in business before but you just stopped for whatever reason, I want to share with you How To Get Started Up Again.

Starting a company, whether it’s a brick and mortar business or an e-commerce enterprise can be a daunting process. However, let’s just say you already have started your entrepreneurial path to success but your dream company came to a screeching halt. Recovering from a business collapse or failure can be unsettling and even near depressing. You may feel that you wouldn’t be able to get back into the trenches of rebuilding or maybe starting another venture.

Let me tell you that you are not the first to feel the painful sting of failure nor will you ever be the last. That should give some level of comfort. I think. But don’t hate me for sharing it with you. What I do want you to know is that you can bounce back from the failure(s) by learning from them and by taking action.

You must know that with every failure comes with a valuable lesson and at most times you will realize a new opportunity. Learn to see the positive within the negative. There have been many inventors, entrepreneurs, famous people and superstar athletes who have overcome many failures and setbacks to reveal their true successes.

Read a biography or autobiography of your famous or infamous person and model yourself after him or her.

Social media platforms have made the world feel so small because you’re now able to reach so many more people out there. Marketing doesn’t strictly have to be done around your local neighborhood or city.

Whatever service or product you offer can be offered to anyone no matter where they are.

But if you want to take advantage of this, you have to have yourself or your business easily accessible.

When people look at your social media profiles think about what they’ll see. Everything has to be consistent.

That’s why I am launching a new training program that will help you build your brand and build an audience. Get on my pre-launch list HERE.

I’ve had my fair share of setbacks and failures. I know that I will no doubt have more along the way. However, with each failure I have learned more about myself and what I am capable of accomplishing. And I want to help you to do the same.

Invest in yourself and go out there and fail forward. Never give up on your dreams or aspirations. Don’t stop hustling or grinding for whatever it is you want in your life.

Stay Strong,

Mike Berrios

P.S. Keep following my blog as I will continue to share my tips, tricks, tools and adventures with my business, Mike Berrios Media and other ventures.

Please go and “like” my FB Fanpage so that you can stay up to date with what I’m working with… Go to my site here ==> My Fanpage

 

 

Reason #4 Of The Top 5 Reasons Why Internet Marketers Fail Online

Today I will be discussing reason #4 of the Top 5 Reasons Why Internet Marketers Fail Online. When you see what it is I’m sure you will understand why it’s on my list and you may just have experienced it yourself.

Check it now>>>

Please share this post with your team and anyone you know that’s looking to join your team or opportunity. It may save you both a lot of grief.

Look for my next installment of the Top 5 Reasons Why Internet Marketers Fail Online.

To Your Success

Mike Berrios

P.S. If you are already with a company, What attracted you to that company? And if are not with a company now what are you looking for in a company?

My Top 5 Reasons Why Internet Marketers Fail Online

Hi Mike Berrios here. Today I wanted to start a series on The Top 5 Reasons Why Internet Marketers Fail Online. I’ve seen from my experience as well as talking to a number of other marketers that there are 5 fundamental reasons why marketers (especially newbies) fail or just quit there business before really even making any real effort.

In the next few days I will be sharing the rest of the top reasons in ascending order. I’d like to shine a light on The Top 5 Reasons Why Internet Marketers Fail Online because I see too many people join companies and have little to no success. Usually the problems can be corrected if recognized and if the proper education is sought and implemented.

Check out my video:

My mission is to help as many new marketers to become successful online and in other businesses through proper training and coaching. If you find this post helpful please share with someone that will benefit from it.

If you are interested in coaching or are looking for a quality business model send me an email to mberrios@joinmikeberrios.com or click here

How To Get Started in Internet Marketing

I remember when I shot a video on How To Get Started in Internet Marketing how nervous I felt. I had all these thoughts that I would screw it all up. But I made the decision to go for it. Shooting that video was inportant because it was, at that time, something new to me. That video was about branding, and marketing yourself.

Branding and marketing myself was the most inportant lesson I learned and I continue to educate myself on. There are many internet marketing, network marketing and direct sales marketing companies; but there’s only one of you. And that is going to be my mission with this series of posts and videos. Helping you learn How To Get Started in Internet Marketing by Branding and Marketing yourself.

Check out my video and let me know what you think by leaving me a comment below. Please like and share.