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.

I Just Finished the OFA Challenge and I’m Pissed!

Disclaimer: I'm an affiliate marketer and I will be compensated if you click on a link and purchase anything, anywhere on my site. You've been warned. Ok Let's go. ;) 

Today, I completed the OFA Challenge aka The One Funnel Away 30 Day Challenge and I’m pissed!

I’m pissed off because 30 days just wasn’t enough. I mean I did get to build my funnel (it wasn’t my first but it was a better one than what I had before the challenge) and I learned so much more about the who, what, why and how.

If you’re curious about the OFA Challenge or if you’ve been invited to take the challenge but you want to do your due diligence, I’m going to break down my experience and share my thoughts with you about the program.

An ad for the OFA CHallenge

The program, which is promoted by Russell Brunson and the Clickfunnels team will coach you to creating your first sales funnel that you can use to sell your product or service. If you don’t have a business or aren’t selling anything just yet, that’s ok, cause you can actually be an affiliate for Clickfunnels.

The initial cost for the challenge is $100. When you think about, an investment of $100 for a 30 day training of any sort is considerably low risk. There was coaches available at designated days and hours for assistance with technical stuff. Every day there’s a lesson and an assignment.

So if this was a free program I believe not too many people would’ve stuck around to the very end. By paying the 100 bucks it essentially made you feel like you had a little skin in the game.

I will say that there’s a ton of information and a lot to do within a 30 day period.

While I do have my business, I still work my day job (actually I work midnights) and I’m a full time husband and father. So taking on the OFA Challenge was exactly that… a challenge. Just make sure you can set aside at least 2-3 hours a day. Wake up earlier for about an hour and go to bed later for an hour or two.

Remember if you’re looking to get out of the rat race or you want to start a business, you’re going to have to make some investments and make a number of sacrifices. But take from me, it’s well worth it.

Now I’m not gonna get into all the details because if you’re ready to take the plunge and all you wanted was that little push from someone who took the program. Then I highly suggest that you go take the challenge.

What I will share is that after all the lessons learned and all the assignments, I have a better understanding and a clearer vision of what internet marketing and funnels are capable of doing for any business. All it takes is the desire to make an impact in the world, the right vehicle (funnels) and the right mentoring.

The final ingredient to your success is to have a belief that it will work and to take constant, consistent action.

If you have an idea, a business or a service that you want to bring to the world, I can help you make it happen.

Send me an email to info@mikeberriosmedia.com or go here for more about using funnels to build your business.

[Update] One Funnel Away Challenge LIVE

how was your week?

Hey, real quick. My friend Russell Brunson is
having a live One Funnel Away Challenge.

I did the OFA Challenge. It was great. But it wasn’t live!

You have a chance to attend the event… LIVE.

Hurry and grab your ticket before they’re gone.

I posted about it on my Facebook page

Right here —> https://www.facebook.com/258579170912376/posts/3016481005122165/?d=n

If you’re ever interested in starting an online business, then the OFA Challenge would be the right place to start.

You’ll thank me later.

Have a great weekend

I’ll check you next week.

see you at the top

Mike

P.S. check my post on my FB page. (Yeah I’m a real person just like you.)

[Update] Side Hustle Project

2020 has been the year to forget. With the pandemic and all the other craziness in the world it has become more imperative to take control of my life. I’ve been grinding hard to realize my main goal of freedom.

From growing my own food, to growing my businesses, and building my wealth using investments in crypto, real estate and other alternative assets. Along with all the challenges that the pandemic has presented, opportunities have also been created. It’s up to you to see how you come out of all this.

I posted a new video about what I’m doing to be able to retire from my 9-5 sooner than I expected.

Check it out 👇

Stand Strong

Stand Apart

Hustle Hard Mike

P.S. If you want to shortcut the video and see what I’m doing to be able to retire sooner than I expected then go HERE.

How to generate FREE leads For Your Business

Are you having trouble generating leads? Have you been burning cash on paid lead listings? Hi my name is Michael Berrios and I am a serial entrepreneur, small business consultant and a visionary. One of my goals in life is to assist home-based entrepreneurs to become successful within their first 12 months.

I was a plumber working hard and trading my time for dollars. I eventually started a number of plumbing companies and other business ventures. It was not easy I have to say. Then a few years ago I started in network marketing/direct sales. I was absolutely lost. I had no idea how to implement any of what I had been taught through my sponsor or through the company I had bought into. My main challenge had been generating leads without blowing my marketing budget. I knew that cutting back on marketing is like the kiss of death to any business. Then I found Magnetic Sponsoring

Magnetic Sponsoring has been instrumental in my business’s turn around. The creator Mike Dillard, an incredible marketer in his own right, put together a simple and affordable strategy to attract an abundance of leads to any type of business. I have increased my leads while reducing my overall work load and putting my marketing on auto pilot.

I encourage you to check out Magnetic Sponsoring and generate FREE leads