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BiggerPockets Money Podcast

238: Finance Friday: 250x-ing His Salary from Employee to Business Owner

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.53K Ratings

🗓️ 8 October 2021

⏱️ 76 minutes

🧾️ Download transcript

Summary

Over at BiggerPockets, we all have much love and respect for our trusted video editor, Joel Esparza. He brings phenomenal work quality, timing, and communication to every project he’s on, but many of us don’t know his inspiring and truly impressive backstory. Joel is originally from Venezuela, which has experienced rampant inflation over the past decade putting its citizens in economic turmoil. Joel went to school in Argentina and was able to leave without debt thanks to an inheritance left to him. When he migrated back to Venezuela, he was hired as a video editor for an agency making, get this, $20/month. Yes, that’s correct, we’re talking about $240 per YEAR.  This was not an uncommon salary for Venezuelans, but through sheer luck, Joel was introduced to some side business that began paying him two to three times the amount he would make in one month, in only two hours. Joel quickly jumped ship as an employee and began building his clientele as a self-employed editor. Now, as the head video editor at BiggerPockets, Joel wants to outsource his business, hire on staff, and move towards more of a leadership role. In This Episode We Cover The massive financial struggles of living in Venezuela during exceedingly high inflation Living as a political refugee in a brand new country on a whole different continent  Using freelance work as a way to substantially increase your income  Starting partnerships with others in your field who may become competitors  Being cognizant of your professional strengths and using them to get more clients Understanding the unit economics behind growing a business and a team And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to the Bigger Pogas Money Podcast, show number 238, Finance Friday edition, where

0:05.7

we talk to Joel Asparza about moving to a different country, and what has it got 800

0:13.0

X in his salary?

0:14.7

250 times increase in his salary in seven years.

0:19.7

How did I get 800 from that?

0:21.7

Math is hard.

0:23.6

I'm not even a tax payer yet because up to a month ago I was just basically a refugee,

0:36.8

a political refugee, if you want to call it that.

0:40.7

So I'm just basically starting my economic life at 33 years old, basically.

0:46.4

Hello, hello, hello, my name is Mindy Jensen and with me as always is my can bench press

0:51.0

way more than I can.

0:52.1

I'm Coho Scott Trench.

0:53.1

Thank you as always for your uplifting introductions Mindy.

0:56.1

Oh, there was a strong introductory look at this muscle.

0:59.6

That's right.

1:00.6

Scott and I are here to make financial independence less scary, less just for somebody else, to

1:06.0

introduce you to every money story because we truly believe financial freedom is attainable

1:10.1

for everyone, no matter when or where you're starting.

1:13.0

That's right, whether you want to retire early and travel the world, go on to make big-time

1:15.9

investments in assets like real estate, start your own business, 250 extra salary, or move

1:21.3

across the world.

1:22.3

We'll help you reach your financial goals and get money out of the way so you can launch

...

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