In today’s episode I talk about being debt free, reducing debt and running a debt free business. I have been in debt; and I have leveraged millions of dollars in the past. I talk about the number one reason most businesses fail is from debt problems. If you’re going to run a debt free business, you need to know the true cost of delivering your product. Be very clear where your money is going. Develop and use an operating budget as a decision-making tool. Always know your financial condition and situation. Consistency measure revenue, gross profit, and cash, I get those numbers every day because it’s that important to me. I sleep better at night because I have money in the bank, I have created my own line of credit, and even pay myself interest.
