HAVE YOU EVER WONDERED HOW TO OVERCOME CHALLENGES FACED BY ENTREPRENEURS?
This week I speak with Roberto DaCosta who is the founder of Vibe Branding– a web marketing company.
Robert dove into being an entrepreneur and freelancer when he was let go from the company he was working in. Unlike most freelancers – Robert was not able to save money before leaving his job due to the sudden change.
But instead of giving up- he went from zero to 100 and started his own company.
Today he is running a successful web marketing business and works remotely.
Listen on to find out how to overcome challenges faced by entrepreneurs.
One of the trickiest things about being a freelancer is achieving financial stability for the long- term. Unpredictable income and costs, such as taxes, can make it difficult to save.
bSolo helps you save by setting aside a percentage of your earnings and automatically pays your taxes each quarter. Through their self-service dashboard, you have the freedom to make deposits to and withdrawals out of your account, adjust your tax settings, and change your filing status.
Try it free for three-months by going to www.bsolo.com/offbeat.
[This episode was sponsored by Bsolo]
Leaving a job wether by choice or being let go is extremely scary, what was the transition like when you left your 9-5?
- There will be a lot of self doubt in the beginning.
- But there will also be days when you will be empowered by everything.
How did you get into a positive mindset after hitting a huge setback?
- Having come from immigrant families, Robert was taught to be resilient and power through during tough times.
- Growing up and seeing constant development and a level of resilience modified how he thought.
- It takes a lot of mental strength and time in order to get through the tough times.
What are some obstacles you have faced as an entrepreneur?
- The biggest issue that Robert has had is dealing with taxes.
- Wether handling, paying, or saving for them- it can be a difficult process.
- Organizing can also be extremely difficult when you’re a entrepreneur.
Do you have any tips on how to better handle your taxes as an entrepreneur?
- As a creative Robert did not know how to handle his taxes properly.
- He went 2 years without paying his taxes and ended up acquiring a lot fees.
- Robert found the company bSolo that was able to help him handle his taxes.
- bSolo automatically saves for quarterly estimated tax payments as you earn income—and even sends your tax payments for you.
- At the end of each quarter bSolo pays the his taxes to state and federal from the savings.
- bSolo’s services has made Roberts life so much easier and he no longer stresses about late payments or not having enough to pay for the fees.
- As entrepreneurs we often don’t realize that although money is coming in, all our earnings do not automatically go into our pockets.
What is the worst advice you have ever received?
- The worst advice Robert has received was not to worry.
- Although Robert gives this advice, not worrying can lead you to trouble.
- A little bit of worry can be good for you, because it pushes you to do better and work harder.
How do you create income at the start and how do you continue to create income today?
- Robert did not have any savings when he was let go from his job and had to rely on his skills to find clients to start his business.
- It was a hard transition going from nothing to starting a business.
- Robert creates income now by subcontracting work from different companies.
How to deal with emotional roller coasters and depression as an entrepreneur.
- Being an entrepreneur you will face a lot of ups and downs.
- You will have really great days and really bad ones.
- Depression will definitely happen but it can also be the source of strength.
How do you get yourself out of the depression? Do you follow any routines to get out of the negative mindset?
- Meditation and having a positive outlook on the future when meditating.
- Reading self help books and getting inspiration from people like Tony Robins.
What legacy would you like to leave and what do you want to be remembered for?
- Robert wants to be largest web marketing company in the world.