Should you use debt in your business?

Benjamin Franklin said, “If you want to know the value of money, try to borrow some.”

When you look at how hard banks and financial institutions work to sell debt—credit cards, lines of credit, mortgages, reverse mortgages—it’s really telling how big a role debt plays in our economy.

When companies pay celebrities millions of dollars to convince you to sign up for their products, that should tell you something.

When they offer you rewards, points, and cash back just for buying stuff you were already going to buy, that should tell you something.

I’m not entirely against debt. There is a time and place for debt, if you can manage it properly.

A reasonable amount of debt can help you manage cash flow, delegate spending to employees, and accelerate progress.

Tomorrow, I’m releasing my next podcast episode on using debt in your business. Make sure to subscribe if you haven’t already.

So let me know…

How does debt impact the overall growth and success of your agency?

How do you determine the right amount of debt for your business?

Have you used any alternative forms of financing to grow your agency?

Hit REPLY and tell me about it!