Morning Profit Podcast w/ Tayde Aburto

Every immigrant has a story to tell. My immigrant story started in 2006. I took a trip to California to propose to my girlfriend, and I ended up staying. It's been an exciting journey so far. The best is yet to come! Do you want to hear the story behind the proposal? That's a story for another podcast. 

Before I jump into the credit score topic, if you are someone interested in migrating to the U.S. make sure you hire an experienced immigration attorney to deal with your situation. It will be one of the best investments that you make in your life. Remember, get a good immigration attorney to deal with your particular situation.

Now, to keep a good credit score make sure you:

- Pay your credit cards and loans on time

- Your used credit line vs your available credit line is under 30% utilization

- You have different types of lines of credit

- You don't apply for new credit in short periods of time

- You have a good length of credit history

Check the status of your credit score at annualcreditreport.com. It's FREE!

- Check your credit history

- Make sure that all your information is correct. A good credit report means a good credit score, if you haven't brake any of the credit score rules that help you to have a good credit score.

One of my favorite credit cars is the AMEX Platinum, it offers great benefits. Check it out here  http://refer.amex.us/TAYDEA0qXJ?xl=cp01​

Monitor your credit score- Open your account with the credit reporting companies:

Transunion.com

MyEquifax.com

Experian.com

Diversify your credit to give your credit score a boost:

- Open a secured line of credit - secured personal credit with a Credit Union.

- Become an Authorized User of someone with a good credit score.

- Ask for a Credit Line Increase to help you boost your credit score.

- Stop opening new lines of credit if you don't need them.

- Get current and Pay Down Multiple Times. It looks good on your credit score.

- Don’t make sudden large buys, if you don't need to.

Don't do the following, they affect your credit score:

- Try to avoid collections

- If you get a credit card don’t close it

- Avoid introductory rates  

- Don't apply for a new credit line within 2 weeks after you got approved for one.

- Remember, 30% utilization per account in total. I said it before and I want to repeat it again.

Keep your credit score healthy:

- Separate business credit & personal credit.

- Open new accounts when appropriate

- Credit freeze if you don't need to apply for new credit lines.

- Get Identity Theft Protection. It's worth it!

Try to keep your credit score good, excellent is better!

Excellent credit score starts around 760+ points. Good luck!

🌍 My website / blog - https://taydeaburto.com​​​

📸 Instagram - https://instagram.com/taydeaburto​​​

🐦 Twitter - https://twitter.com/taydeaburto​​​

🎓  LinkedIn - https://linkedin.com/in/taydeaburto​​​

📕 Facebook - https://facebook.com/taydeaburto​​​

🤵Subscribe to my son's channel "TaydeShow" - http://taydeshow.com​​​

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🚧🚧🚧🚧DISCLAIMER🚧🚧🚧🚧

❎ I am not a certified business consultant, e-commerce master, digital marketing guru, CPA, attorney, insurance, or financial advisor. I'm not a certified personal development coach. The content in these videos shall not be construed as business coaching, tax, legal, insurance, health & safety, financial advice, life advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. If stocks or companies are mentioned, Tayde MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Tayde's videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, business coach/ business consultant/ life coach/e-commerce consultant, etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Tayde Aburto Show®. Any use of other media is by fair-use or license only.

Trademarked Slogans (NO use without written permission and license):

⛔️Hispanic Chamber of E-Commerce® (https://hiscec.com​​​)

⛔️United States Business Association of E-Commerce ® (https://usbaec.com​​​)

 CALIFORNIA DREAMING OR LEAVING? The pandemic has shaken California like an earthquake. - California’s economy is the fifth largest in the world with a $3.2 GDP - Between 2008 and 2019, 18000 companies have left California. - There has been an increase in population but not in jobs. - California has lost more people to other States than the ones that have gained. - When you lose companies like Oracle, it changes a lot of things in the State, like the total amount of dollars that are collected by the State, budget allocated to education, infrastructure, and others. - Hewlett-Packard was born in California and in December 2020 announced that they were moving their headquarters to Houston, Texas. Oracle announced the same month that they were relocating their headquarters to Austin. Tesla is building its next gigafactory in Austin. Others like Toyota, Jamba Juice, Nestle, and others have done the same. Taking thousands of jobs with them. Small and medium-sized companies are leaving too to states like Arizona, Nevada, Colorado, Oregon, and Washington. California is known for its high taxes State business tax climate index - California ranks 50 California Individual income tax rate is 13.3% Washington, Nevada, Alaska, Wyoming, South Dakota, Texas, Tennessee, Florida, and New Hampshire are States with no income tax on wages. Texas has high property taxes but when you run everything that you have to pay in texas vs what you have to pay in California, Texas is a better option. Lots of regulations High housing costs High cost of living Public services are not where they should be 47% of unsheltered homeless Americans live in California The pandemic is motivating more people to leave California now that they have the option to work remotely for their companies. Companies like Facebook and Twitter have announced that their workers can work remotely forever. The majority of people leaving California reported an annual income of less than 100,000. The situation in California can get very bad without essential workers leaving the state. Super-earners pay 40% of the State’s tax revenues, according to California’s Franchise Tax Board. Many California residents are hopeful that State Legislators will take a different direction after the pandemic is over. Many will realize that it is not worth it to risk California’s economic future. It’s not worth it to drive away creative, innovative, and hard-working people. History shows that California has always been able to come through challenging times. It’s a resilient State. For those of us that are still here, let’s keep moving forward and doing our best to keep contributing to the growth and development of the world’s fifth largest economy. We don’t ask for handouts Sacramento, just for more business friendly regulations that can help us thrive. If you want to leave california visit exitcalifornia.org Please let me know what you think about California? Leave a comment. 🌍 My website / blog - https://taydeaburto.com​​ 📸 Instagram - https://instagram.com/taydeaburto​​ 🐦 Twitter - https://twitter.com/taydeaburto​​ 🎓 LinkedIn - https://linkedin.com/in/taydeaburto​​ 📕 Facebook - https://facebook.com/taydeaburto​​ 🤵Subscribe to my son's channel "TaydeShow" - http://taydeshow.com​​ ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ 🚧🚧🚧🚧DISCLAIMER🚧🚧🚧🚧 ❎ I am not a certified business consultant, e-commerce master, digital marketing guru, CPA, attorney, insurance, or financial advisor. I'm not a certified personal development coach. The content in these videos shall not be construed as business coaching, tax, legal, insurance, health & safety, financial advice, life advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Youtube video for entertainment purposes ONLY. If stocks or companies are mentioned, Tayde MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Tayde's videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, business coach/ business consultant/ life coach/e-commerce consultant, etc. financial advisor, or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Tayde Aburto Show®. Any use of other media is by fair-use or license only. Trademarked Slogans (NO use without written permission and license): ⛔️Hispanic Chamber of E-Commerce® (https://hiscec.com​​) ⛔️United States Business Association of E-Commerce ® (https://usbaec.com​​)

Mike Weinbach

Senior Executive Vice President, CEO of Consumer Lending Wells Fargo & Company

Mike Weinbach is the CEO of Consumer Lending and a member of the Operating Committee at Wells Fargo. He is responsible for leading more than 30,000 team members focused on providing consumer lending products and services, including Home Lending, Auto, Credit Cards & Merchant Services, Education Finance, and Personal Loans. He is based in New York.

Throughout his 20-plus year career in financial services, Mike has demonstrated a passion for leadership, helping consumers succeed, and delivering superior customer experiences. He joined Wells Fargo in 2020 after 16 years at JPMorgan Chase, where he most recently served as CEO of Chase Home Lending. While at Chase, Mike also held leadership roles across Consumer Banking, Business Banking, Home Lending and Auto Finance in sales, finance, branch management and operations.

Before joining Chase, Mike founded a business focused on workplace motivation and held positions at Citigroup. He is a graduate of the Wharton School at the University of Pennsylvania and earned his MBA at Harvard Business School.

Key takeaways:

1. Using the internet and digital marketing to continue to maintain and even grow your business during social isolation

2. Your current customers and the untapped gold mine every business has

3. The most overlooked and easy digital marketing strategy every business should implement now

4. Adapting and pivoting for the new normal after social isolation ends and how to fully leverage digital marketing to do so

5. Strategies you must implement now that will have a big impact in your business post COVID-19

Carlos Salguero Contact:

Carlos Salguero

Co-Founder & CEO, Marketer Brothers

303-619-8349 | [email protected]

www.marketerbros.com

9360 Federal Blvd, Denver, CO 80260

The fifth annual State of Latino Entrepreneurship report says that Latinos are launching businesses at an unprecedented pace, but barriers — some long-standing, some brand new — keep them from reaching their potential. One of those barriers is: - Latino-owned businesses experience funding shortfalls from traditional small business lending sources. “I need access to capital.” – Debt is not capital. Capital is the difference between what you own, your assets, and what you owe, your liabilities. FACT: Lenders love their money more than they love your business. As business loan performance drops off, U.S. banks are anticipated to rein in criteria this year, a Federal Reserve (Fed) survey showed on Monday (Feb. 3, 2020). Banks that reported expecting to tighten standards for any loan category were additionally asked to assess the importance of several potential reasons for the expected tightening: (1) capital or liquidity position, (2) collateral values, (3) competition from other bank or nonbank lenders, (4) risk tolerance, (5) ease of selling loans in secondary market, (6) credit quality of loan portfolio, and (7) concern about the effects of legislative or regulatory changes. Be Prepared, don’t be personally liable for your business debt: + Build Business Credibility + Business assets and collaterals + Build Business Credit (Net 30 accounts, revolving credit cards, etc.) If we don’t contribute something to the economic empowerment of the Latino business community through a robust and comprehensive approach, our economy will be negatively impacted, specially in those areas with a high concentration of Latinos.

Here are my four recommendations for those that are about to start a business with personal funds:

1. Don’t run out of money. Make sure that in your business plan, you are considering all the internal and external factors that can impact your ability to start generating revenue.

2. A digital strategy needs to become the essence of your business strategy. Use technology to improve your business performance and to generate enough business to keep your business moving forward.

3. Paid yourself back as soon as possible. Don’t wait to pay yourself back. As soon as you start generating revenue, start putting money aside to cover your investment. You may need that money again in the future to scale up your business faster or to use it in a future project.

4. Take action to build your business credit file. I used Dun & Bradstreet in my last project.

In this episode, I talk about:

• :.30 - How started planning a business expo with $140 in the bank
• 4:30 - Ramon De Leon, the person that changed everything
• 5:25 - Dealing with stress (My baby in the hospital, full-time job and expo)
• 8:50 - 152 exhibitors and 25 workshops in two days
• 9:35 - The power of a business network
• 13:30 - A project must feel right
• 14:14 - Be grateful 

In this episode I talked about:

• .50 - My background.
• 1:22 - How everything started with the Hispanic Chamber of E-Commerce.
• 3:40 - Connect with the right people, the power of business networking. 
• 6:00 - Why "The Billion Dollar Network Show" name. 
• 10:55 - Honesty & Integrity.