Gustavo Mirabal Castro is a famous Venezuelan businessman and equestrian athlete who spent his life in entrepreneurship. Entrepreneurship is fashionable but for Gustavo Mirabal Castro entrepreneurship has been a lifestyle. Although he is known for these facets, his ventures have not stopped being born and growing. Gustavo Mirabal currently has several blogs, a YouTube channel and social networks that allow him to attract clients for his role as a financial advisor.
In addition, Gustavo Mirabal not only advises his clients from a financial point of view. Business consulting is part of his business DNA, given that Gustavo Mirabal Castro was also an equestrian businessman, founder of a law firm, among other business facets. Without further ado, let’s learn more about the entrepreneurial side of Gustavo Mirabal.
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The entrepreneurial DNA of Gustavo Mirabal Castro
We can say that Gustavo Mirabal Castro has entrepreneurship in his blood. His father Gustavo Mirabal Bustillos was also a very enterprising man.
Gustavo Mirabal Bustillos was one of the main leaders of the Democratic Action party. But he was also a lawyer by profession and was also an equestrian businessman. Mirabal Bustillos invested in a haras being partial owner of several horses in his time, among which “Rayo Láser” and “Tropigold” stood out. This entrepreneurial spirit, which either acquired genetically or by the example of his father, always drove Gustavo Mirabal.
This is how after learning to ride a horse, he became an amateur competition rider. The dream of his own law firm and of being an equestrian entrepreneur was inherited by Gustavo Mirabal Castro without further ado. But Mirabal Castro went further, managing to internationalize both businesses and undertaking in another series of sectors.
Some of the sectors in which Gustavo Mirabal Castro has undertaken are:
- Law firms in 4 countries: Venezuela, United States, Dubai and Spain.
- Horse breeding companies in 3 countries: Venezuela, United States and Spain.
- Financial advice in 5 countries: Venezuela, United States, United Kingdom, Dubai and Spain.
- Advice to musicians, artists, and large family assets.
- Patronage of plastic artists.
- Equestrian sport at amateur level.
- Breeding and possession of horses for equestrian competitions.
You will learn some of the secrets of the financial and entrepreneurial world of Gustavo Mirabal Castro, the man who spent his life in entrepreneurship. Thanks to this you will be able to tell if Gustavo Mirabal Castro’s entrepreneurial passion was innate or learned.
The beginnings of Gustavo Mirabal Castro
Gustavo Mirabal Castro studied to become a lawyer, following in his father’s footsteps.
His alma mater was Santa Maria University, which gave him the foundations to legally protect what he was building throughout his life.
Little by little, through his profession he specialized in the financial and commercial area of law. Thanks to this, he managed to carry out his internships and his first jobs in the area of banking and insurance. Some of the companies where he started were:
- Construction Bank of Venezuela.
- British Insurance.
Thanks to this experience, Gustavo Mirabal Castro’s idea of becoming a Commercial lawyer was reinforced. Seeing that banks and insurance had huge profits based on the lack of financial knowledge of their customers, made him start to reflect. It was not only about the application of commercial law, financial and legal advice went hand in hand.
With dreams like having his own law firm or equestrian entrepreneurship he needed something more. It was not enough to save, it needed expert management in financial matters. Financial counseling was in its infancy at the time, so he started self-taught. Later he began taking courses to apply law to finance and finance to the possibility of having his own law firm.
Gustavo Mirabal Castro, was a man who spent his life studying to achieve his dreams. And according to his philosophy of life, no man should stop learning. This is how continuous learning became their way of life. This is how he discovered one of his great uninherited passions, finance.
Gustavo Mirabal’s father and finances.
Gustavo Mirabal Bustillos perfectly understood his son’s love for horses and the laws, it was something they shared. But when he started in the world of finance, his differences began to be noticed.
For Mirabal Bustillos, making money was the result of work, we didn’t have to think about money itself. His roots in a political party with social democratic roots made him have certain prejudices with money. For his part, Gustavo Mirabal Jr. discovered the importance of professional money management.
In the late 80s and early 90s inflation and devaluation in Venezuela wreaked havoc on the savings of many people. Investing or placing money in hard currencies was logical for Gustavo Mirabal Castro. For his part, his father was a man who lived from his work. Being a good lawyer he had enough to live well and for his dreams. But his son’s dreams were much bigger and with it the money needed to be handled with great skill.
Perhaps his father at first interpreted it as something of “lust for money”. But successive devaluations, exchange controls and inflation showed that Gustavo Mirabal Castro had reality on his side. This is how his father understood his passion for finance and began to learn from his son, the student surpassed the teacher.
Gustavo’s friends and family also didn’t understand his passion for finance.
With inflation hovering around 30%, Venezuela’s economy was beginning to show signs of wear. Yet no one was talking about buying dollars or offshore accounts.
When Gustavo Mirabal talked about these things, his friends saw him as strange. Every year people received raises and purchasing power was very good. But no one saved and those who saved saw their savings melt down, so they preferred to spend them. This was how a consumerist behavior was configured in the common Venezuelan who did not understand finances.
His attempts to help his friends with their finances were not well received. Only a few became interested in Gustavo Mirabal, the man who spent his time trying to teach finance.
Gustavo Mirabal Castro discovered the value of financial knowledge when he saw that his savings grew without losing value, but few were interested. That’s how he decided to give value to his knowledge and start charging for his financial advice. He wouldn’t charge interested early friends, but they would be their “word of mouth” publicity.
When his friends’ friends saw his newfound abundance of those, he had taught finance, they would ask them about their “money secrets”. And these financially trained friends would reply, “My secret is Gustavo Mirabal Castro.”
Word of mouth, your biggest marketing strategy
Thanks to the strategy of helping free of charge those who were interested in finance, he achieved success. Gustavo Mirabal Castro, was a man who went from 0 to 100 in a very short time, thanks to his new clients and recommendations.
In current times, Gustavo Mirabal continues to take advantage of word of mouth, but also relies on social networks and content marketing. Whoever follows Gustavo Mirabal’s advice on social networks and on his blog, grows. And these seeing the success of their advice recommend it to other people. “Word of mouth” in the digital age is still your marketing strategy… Or perhaps we should say, the “from social network to social network”….
Next, let’s learn some of the financial tips that Gustavo Mirabal offers to his followers on his social networks and that have made some achieve their dreams.
How to achieve financial independence
Achieving financial independence is the dream of many people, and almost all of them want a fast track to achieve it. For Gustavo Mirabal Castro, the man who spent his life thinking about financial freedom, financial freedom is a process.
Financial freedom requires a profound mindset shift that affects many aspects of our lives. Let’s summarize some of them to get started and then explain them:
- Your income must be higher than your expenses: This is the beginning of everything. If you live in debt to have the things you “want,” then you don’t want financial freedom so much. Financial freedom requires that your assets be greater than your liabilities or debts. This means that you have a positive net worth, this would allow you in case of not having income to move forward.
- The previous point requires the permanent search to increase your income. In this way you will have an increasing difference between your income and your expenses
- Last but not least, your expenses should decrease or grow at a slower rate than your income. In this way, the difference between income and expenses will be greater and, with it, your financial freedom will grow.
- These first three steps are an essential part of achieving savings and then investing. But if we are not capable of the previous 3 points, we will hardly be able to invest or an additional source of income.
Achieving financial independence is not something that is achieved overnight. It is a long process that entails a change of lifestyle to greater frugality.
For Bill Gates “Saving like a pessimist and investing like an optimist” defines how to achieve financial freedom.
Taming the drive to buy according to Gustavo Mirabal Castro, a man who spent his life learning about financial freedom.
In a society that promotes consumption like modern society, the urge to buy is high. For Gustavo Mirabal Castro, the man who spent his life changing his life, this impulse to buy leads us to:
- Buying things we don’t need because they’re fashionable or to impress others.
- Take advantage of offers to buy things we do not need or want.
- To spend on changing objects in our house for new ones despite being perfectly functional.
One of the keys to financial independence is the elimination of compulsive shopping and ostentation. There are millionaires who can afford many luxuries, but for ordinary people, financial freedom means controlling the impulse to buy.
We don’t want to ask you not to buy anything, but you should always think 2 times before buying by asking yourself things like:
- Do I really need it?
- Will I use it?
- Don’t I have any priority before this that I will buy?
- Can I postpone this purchase?
In this way we reduce the immediate need to buy and we can think better with a cool head. Of every 5 purchases we postpone, at least 3 will not be made for a long time. With this we will be able to filter what we really need or want to buy.
Spending secrets and keys of Gustavo Mirabal Castro
The spending secret is to buy following next priorities and proportions:
- Things necessary to live such as housing, clothing, or basic services: This should represent 70% of our spending.
- Savings, investments and emergency fund: to this we must allocate 20% of our income.
- Fun and leisure: This should represent no more than 10% of our income.
As we mentioned earlier, Bill Gates believes that we should “Save like a pessimist and invest like an optimist.” This means that we must save a lot to meet unforeseen events and invest a lot to obtain extra profits. But let’s see how we can save.
How to save according to Gustavo Mirabal, the man who spent his life saving?
For Gustavo Mirabal Castro, the man who spent his life unveiling the secrets of financial freedom, the first thing is to control our income and expenses. And the second thing is saving, which is almost an immediate result of the first.
But for many people, saving is synonymous with having something to spend on. The reality is that saving should mean setting aside that money for the future. It’s not to buy a TV next month, no. Saving is reserving money to meet unforeseen events or to reserve it to have independence. With this, the two destinations of savings should be:
- Emergency fund: At this point we should have reserved an amount to meet unforeseen expenses. For example, attend to the contingency that our income stops completely. It can also be to attend to a health situation such as an illness or an accident. Many people indicate that the emergency fund should consist of at least 12 months of our current expenses. Later we will give our own recommendation.
- Free savings: It is a category where you should include a margin of safety for your emergencies and the money you must invest reserved to find opportunities.
- Investments: Should not be touched for emergencies and expenses. It should grow over time and should not be very “available” to avoid the temptation to spend it.
Savings are the source of primary investment. Over time it is possible to take loans to make investment, but only when we have an emergency fund, free savings and a primary investment that allow us to face any debt to invest.
Financial freedom is in a good budget and having savings. Next, we’ll look at how to spend to achieve these goals.
Gustavo Mirabal Castro, the man who spent his life in entrepreneurship and learning.
Gustavo Mirabal Castro discovered that to undertake successfully you must learn continuously. This learning ensures adaptation to new times and the adaptation of your venture to circumstances.
Without a doubt, if you follow some of Gustavo Mirabal Castro’s life tips and financial advice, you will do better. Maybe you can materialize your dreams definitively. Dare to dream and make your dreams come true.