PANAMA CITY, PANAMA / ACCESSWIRE / April 27, 2020 / Gutemberg Dos Santos, a billionaire from the crypto industry, has been pro-actively coming along with the entrepreneurs to help them in these unfavourable economic conditions.
‘In my financial career, I have seen big bubbles bursting with people having no idea about the outcome. Usually, when there is a recession, people won't know for sure that they're living in a recession until a big financial institution informs them with statistics' - Gutemberg.
The Brazilian-American businessman claims 2020 to be the most brutal year for the corporate world. ‘Saving money will buy you time but not financial security', Gutemberg has penned down a bunch of tips aiming to help entrepreneurs in any way he could, and needless to say he has spent $5 Million in charities and donations in the last 60 days. Performing his humanitarian duties from Peru, below are the notes he sent us to publish. Please note that the notes below are in active voice as we clipped them as it is:
1. Debt is a time ticking bomb: Paying debt creates a lot of breathing room in your budget. People usually start their financial career to achieve financial freedom, but I started my financial journey to lead a debt-free life (education loan, mortgages, etc.). According to a study published on Bankrate, 13 percent of Americans aren't saving more because of the amount of debt that they owe, but I say the number is more. Entrepreneurs around the world would not be as stressed as they are today if they had zero debt.
2. Maintain positive cash flow: Today, one of my e-business, Airbit Club, can pay its employees for the next 12 months without any issues. Our business motto has been maintaining a positive cash flow so that we can survive any significant crisis without even taking a step back. These are the mini points you can follow to keep your cash flow in check: Track cash flow with a budget; Keep spending in check; Track your receivables; Late payments imply penalty; Set Up a Line of Credit.
3. Invest in Technology: Since 2002, it is the technology that has made me millions of dollars. Then came Bitcoin, and it made me a fortune. The bottom line is, no matter how bad things go, Technology never disappoints. Bitcoin came after the 2008 crash, now the ‘nerds' or ‘tech-heads' who were on loop with tech-trend grabbed the opportunity offered by cryptocurrencies and look where they are today! Airbit Club started in 2015, back when Bitcoin was just trending at around $200-$400. The business made billions, and the associates who joined us made seven figures.
4. Learn new skills that instantly rewards you: There are always plenty of things to learn. Some of them pay instant rewards, and some take time. If you make the right choices, you will be able to earn as you learn. For me, Network Marketing is still #1 when it comes to making money online. It is something that takes less time to learn, and the reward may be recurring and never-ending. It's a business where you use your skills to create several income streams. Always focus on a skill that makes you a fortune and not someone else (like your boss).
5. Deleverage before the shit hits the fan: Ships and Jets often drop heavy payloads to increase their speed. In these times, we are clueless about how long it will take for things to settle down. Flying light and decreasing our financial appetite will add months to our survival time.
Gutemberg is a blockchain influencer from South America and has spent the last 11 advising fintech companies. His advisory firms work with traditional tech unicorns and top 20 crypto projects.
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