Debt is easy to accumulate. The simple act of turning on a light creates debt to your power company. When you purchase products to sell or materials and supplies to run your company, an invoice will be heading your way. The moment an employee shows up for work, you owe that employee a paycheck. Anything you purchase without paying cash creates debt. But operating expenses, payroll, payroll taxes and the like represent debt that you clear up before it accumulates. If you don’t, the weight of that debt gets heavy fast. Add the weight of big loan payments, high-interest debt and credit-card debt, and you have all the ingredients to keep your company on the financial brink.
Think of debt as a chunk of lead. A small chunk is easy to carry around all day. Add heavier chunks, and you’ll begin to struggle. Add even bigger chunks, and you’ll need a cart in order to keep moving. If you keep adding lead to the cart, it will reach a point that is beyond your strength limits. Now it will require all of your attention to begin eliminating chunks of lead until you can get the cart moving again. And while you’re busy eliminating weight, all progress is stalled. This is what debt does to a company. Continue reading ‘It’s hard to grow dragging yesterday’s debt’




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