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!
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 www.BusinessBuyerAdvantage.com
Please remember to like and share this article, it’s the
only way the people who run the internet have of knowing if the content is any
good or not. The more you share, the more likely someone who needs this
information will be able to find it.
If you would like to hear from me weekly before anyone else,
you can sign yourself up at www.DavidCBarnett.com
My live events always fill up fast. Find all my live events here: http://davidbarnett.eventbrite.ca
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.
This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quality post.!
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