A few weeks go I made a video and blog post about whether it made sense to pay off all your small business debts in order to prepare a business for sale. Watch the video here: https://youtu.be/pOJ3B1_K9L8
I promised to make another video discussing how paying off small business debt would affect the personal wealth of the owner.
You see, most small business owners are debt-averse. They believe that debt is bad and that it makes sense to pay off debt to increase one’s net-worth.
The reality though is that debt gives you leverage and small businesses are risky.
Watch this week’s video to see how paying off small business debt actually reduces your rate of return and increases your risk!
Watch it here: https://youtu.be/VuwdlTu3BEI
If you think you would benefit from my help and guidance over the coming year to meet your business goals, you may wish to consider my 2017 mastermind. It’s for small business owners who want to improve their business or people who want to find and buy one.
If you’re thinking of selling your small business and want a whole bunch of FREE information and advice, visit www.HowToSellMyOwnBusiness.com there are free videos, reports and access to my modestly priced books and online course on the process of selling a business.
For help on buying a business, visit
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My November 30, 2016 Halifax workshop is being sponsored by CEED. You can register at www.CEED.ca
Thanks and I’ll see you next time.