Welcome to a real-world MBA, where entrepreneurs guide you through what it really takes to start, scale, and sell your own business. Your hosts: J and Carol Scott, who left careers in corporate management to launch their own house-flipping business. Every Tuesday, you'll meet a new guest and learn actionable tips for hiring, firing, marketing, raising capital and more. So whether you're looking to boost profits or bring a new idea to life, you'll come away informed and inspired. Tune in, and learn how to treat your business like a business!
https://www.biggerpockets.com/biggerpockets-business-podcast
episode 85: Building More Income Streams During COVID-19 Shutdowns with Ralphie Martinez
No business has had a tougher time this year than physical-based businesses, and that is certainly the case for our guest, Ralphie Martinez. Ralphie owns Martinez Elite Fitness in Northern California, and was just reaching his business’s peak when COVID-19 started to spread, rendering his business closed until further notice.
Ralphie is the definition of someone with an entrepreneur’s mentality. He was working a 9-5 job when he opened up his garage gym for friends to work out in. Friends would invite other friends, and before he knew it, he was teaching a class before going to his full time job, then coming home and teaching two more classes.
Like so many entrepreneurs, Ralphie turned his passion into something that not only helped other people, but made money. For the past 6 years, Martinez Elite Fitness has been a local success, gaining more and more members every year.
Even in an unprecedented time like 2020, Ralphie has found ways to keep his business going, regardless of shutdowns, curfews, and other roadblocks. Having a positive attitude, the support of his partner and family, and a strong community has helped him and his business stay fighting.
In This Episode We Cover:
- How to harness your passion and turn it into a business
- The importance of having a partner who will push you to follow your dreams
- Why referral and word-of-mouth marketing is a very powerful tool
- Knowing the “why” behind running your business (outside of making money)
- Why you’ll need to think creatively when reality is working against you
- Finding other streams of income even when your business may be slow
- The importance of quality time with family, especially during high-stress and uncertainty
- And So Much More!
Links from the Show
- BiggerPockets
- Taco Daddy's
- Concept 2
- Deuce Gym
- Eric Thomas
- Gary Vaynerchuk
- Not Not Tacos
- Sam the Cooking Guy
Check the full show notes here: https://www.biggerpockets.com/bizshow85
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