Episode 22:: Thank Your Credit Cards! Plus Tips for Becoming Debt-Free
If you have any guilt or shame around having business debt, I want you to let it go!(Video + closed caption available on YouTube)IN THIS EPISODE OF THE GOOD FOOD CFO i TALK ABOUT CREDIT CARDS, LETTING GO OF NEGATIVE THOUGHTS AROUND PERSONAL BUSINESS DEBT, AVOIDING THE DEBT CYCLE IN YOUR FOOD BUSINESS SO YOU CAN EVENTUALLY BE DEBT-FREE, AND THE STEPS YOU CAN TAKE TOWARD BECOMING A SELF-FUNDED, CASH-BASED BUSINESS.
If you have any guilt or shame around having business debt, I want you to let it go because...
You're not "bad with money" because you have debt.
Having debt and being profitable are not mutually exclusive.
You can be profitable and have debt!
So if you're ready to stop relying on your credit cards and become a cash business, in this episode I discuss:
You as an equity investor in your business
Steps for paying down debt without becoming cash-strapped
How examining your financial efficiency helps increase profitability
Using profit reserves to pay down your debts more quickly
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