Business

A Stroke Of Bad Luck Turning Into Profit: How Ivan Tapia Turned His Unemployment Around To Make Millions In The MLM Business

Published

4 years ago

August 13, 2020

If you somehow have yet to hear of Ivan and Monika Tapia, you are in for one inspirational story. The two entrepreneurs are a classic encapsulation of the American dream, and a continually driven power couple to boot. It is rare to hear of a “started from the bottom” story these days, but that is what makes them so special. The inspirational essence of their story is not lost on Ivan and Monika, and they reflect on the roots of their success every day as they strive to achieve their main goal: helping others succeed.

Ivan was born in Tijuana, Mexico and grew up with the dream of becoming a professional baseball player. He was quite a prospect, obtaining a temporary visa in order to study and play baseball at Southwestern College in San Diego, California. As fate would have it, he soon injured his shoulder and was unable to ever regain the playing ability he had enjoyed prior to the incident. This would be just one of the many problems Ivan would face before achieving his gradual rise to success.

Ivan finished receiving his degree in civil engineering at San Diego State University, all the while showcasing his incredible work ethic by holding down multiple jobs and internships, and soon after found a career with a small engineering firm.

Unfortunately for Ivan and his wife, the financial crisis of 2008 abruptly sent them careening off course into poverty and debt. Ivan was let go from his job just before the couple could celebrate their first anniversary. The competition in his field and his relative lack of experience resulted in a lengthy stint of unemployment and struggle. Ivan and Monika lost their house, their car, and any positive credit history they had established. Their life was in ruins. As if the stress levels weren’t high enough, the couple moved back to Tijuana only to discover that Monika was pregnant with their first child. The desperate situation incensed Ivan to come to realize he must focus his efforts on becoming 100% self sufficient and self employed.

At this point, Ivan was merely dabbling in a multi-level marketing endeavor, making a worrisome $500 a month and barely able to afford his small house in Tijuana. Truly committed to one another, the couple held tight and gritted their teeth for years as Ivan slowly began to establish more consistent employment, while always developing his entrepreneurial goals on the side. In 2011, Ivan finally began making significant income through his MLM enterprise. By spending every waking hour outside his full time job focusing on his goals, he was exponentially increasing his income through his own efforts. By 2012 he “fired his boss” and has not worked beneath anyone since. The rocky road that Ivan and Monika traversed to achieve the level of success they enjoy has forever grounded them, and shaped their ultimate goal: to help a billion people.

His focus is training and developing people in the realms of leadership, personal development, finances, and communication. “When I train people my focus is to be a bridge and help them to go from where they are, to where they want to go.” He explains. When asked for his top tips for readers looking to achieve the success he has realized, one of the main pieces of advice he offered was this: find a coach and a mentor.

“Who are you listening to? You need a mentor in the industry where you desire to be successful. There are two ways of learning in life, by mentors and their experience, or by your own experience only. It will be less painful to learn from mentors, as it’s wisdom you’re obtaining from somebody else’s experience.”

Ivan muses. Both he and his wife have sincerely shifted their focus from pulling themselves from the deep rut in which they were cast 12 years ago, and set their sites on making sure that those with a similar drive and passion for hard work and persistence need not go to such incredible lengths as them to also enjoy a piece of the American dream.

Instagram : https://instagram.com/ivantapiav

Business

Opportunities for Black Banx in Emerging Markets

Published

3 hours ago

May 5, 2024

Matthew Wiles

A significant digital transformation is underway in the world of finance, marked by the emergence of non-bank innovators offering a diverse array of financial technology products and services. This transformation is not confined to established markets; rather, it extends its reach into emerging economies, offering a compelling digital alternative to traditional banking institutions. These alternatives are particularly vital in addressing the issue of financial exclusion, which has left substantial populations underserved by traditional banking systems.

Among these innovative digital banking entities stands Black Banx, a fintech brand dedicated to fostering financial inclusion in emerging markets by seamlessly integrating banking services into digital ecosystems. Founded in 2014 as a visionary concept by German billionaire Michael Gastauer, Black Banx swiftly evolved into a global force in the global financial market Officially launched in 2015, the institution rapidly garnered international recognition, extending its services to 180 countries and territories from its inception. Within a mere 12 months of operation, Black Banx amassed over 1 million customers, marking its initial expansions in key regions such as the United States, United Kingdom, and Hong Kong. At present, with a customer base exceeding 40 million as of February 2024, Black Banx stands as one of the fastest-growing digital banks not only in developed countries but also in emerging markets.

What Are Emerging Markets?

An emerging market mostly describes the economic landscape of a developing nation progressively engaging with global markets during its growth trajectory. These economies possess some but not all of the defining characteristics of developed markets, which typically exhibit robust economic growth, high per capita income, well-established equity and debt markets, foreign investor accessibility, and a reliable regulatory framework, according to Investopedia.

As emerging market economies evolve, they tend to integrate more deeply into the global economy. This integration fosters increased liquidity within local debt and equity markets, heightened trade volume, and augmented foreign direct investment. Moreover, these economies witness the emergence of modern financial and regulatory institutions as they transition from low-income, less developed, often pre-industrial states to modern industrial economies with elevated standards of living.

With improving standards of living, the demand for financial security and opportunities escalates, underscoring the pivotal role of banking services. However, traditional banks face challenges stemming from bureaucratic processes and sometimes limited services. Conversely, fintech firms are gaining prominence owing to their convenience, user-friendly interfaces, and expedited signup procedures. Furthermore, their accessibility anytime and anywhere with internet connectivity enhances their appeal to the public.

Strong Demand for Financial Technology

The surge in digital banking adoption, particularly conspicuous in emerging markets, owes much to innovations originating in these regions. For instance, nearly nine out of ten consumers in the Asia-Pacific region, encompassing both emerging and developed markets, actively utilize digital banking services, with a significant portion expressing openness to expanding their usage through digital channels.

Enthusiastic adoption of fintech tools and e-wallets among consumers in emerging markets has propelled the market penetration of these innovative solutions beyond levels observed in developed markets. In the emerging Asia-Pacific region, the penetration of fintech apps and e-wallets surged to 54 percent in 2021, compared to 43 percent in the developed segment. This is indicative of the accelerating shift towards fintech transactions and services, as per McKinsey & Company.

A portmanteau of finance and technology, fintech refers to the burgeoning industry of companies utilizing computer programs and other technologies to provide support or enable banking and other financial services. In developed nations, there’s been a rapid expansion and adoption of fintech technologies ever since businesses and even governments started accepting digital financial transactions as a standard mode of payment. But even in emerging markets, the demand for fintech has also skyrocketed as more people report a diminishing reliance on cash for weekly expenditures.

Identifying Opportunities in Emerging Markets

Launching a successful digital bank entails navigating a myriad of challenges, irrespective of the market’s maturity. However, digital banking in emerging markets presents its own unique set of hurdles, particularly in securing widespread adoption among mass-market consumers. To thrive in any market landscape, a digital bank must first establish meaningful access to its target customers. While the initial interaction may appear straightforward in the digital realm, the reality proves more nuanced.

The proliferation of digital advertising notwithstanding, capturing customer attention remains a formidable task, compounded by the intricacies of onboarding procedures, even for digitally savvy clients. Moreover, the reliance on app downloads as a precursor to engagement further heightens the barriers to entry as first-time users may find them intimidating.

Building a solid trust relationship with customers is important for digital banks to maximize their opportunities in emerging markets. Trust, arguably the linchpin of sustained usage, demands meticulous investment in creating positive onboarding experiences and fostering comprehension of banking channels and products. However, achieving this trust quotient is not easy, especially in emerging markets with lower access to financial services and digital literacy.

Black Banx’s Success in Emerging Markets

Black Banx is a digital bank focused on empowering financial inclusion in emerging markets by integrating banking into digital ecosystems. It was founded by German billionaire Michael Gastauer who always believed that well-designed financial services have the potential to uplift even the most marginalized segments of society, providing them with enhanced economic opportunities.

Consequently, Black Banx is steadfast in its mission to promote financial inclusion while harnessing the advancements within the fintech landscape. Today’s digital technologies offer unprecedented tools to reconstruct banking paradigms, especially for those underserved by traditional financial institutions, with smartphones and laptops serving as gateways to financial empowerment. But while Black Banx makes use of the most advanced fintech technologies, including blockchain and artificial intelligence, it delivers an intuitive and easy-to-navigate user experience through its website and mobile app so even the inexperienced or less tech-savvy consumers won’t have a hard time using its platform to carry out financial transactions.

With his expertise and decades of experience in the financial industry, Gastauer has a keen eye for trends and what works in different markets. So instead of delivering different experiences for developed and emerging markets, the renowned fintech mogul opted to roll out the same suite of services to both because of his motivation to realize financial inclusion and offer only the best banking experience to all. As such, Black Banx facilitates seamless transitions between physical and digital currencies and even cryptocurrencies. The digital bank also tailors its channels to accommodate customers at various stages of their digital journey, ensuring that they feel guided every step of the way until they achieve their financial goals. All of these contribute to Black Banx’s success in emerging markets.