TBL Episode 42: Should online businesses ever have debt?
Debt can be a tricky topic when it’s regarding business.
In startups and corporations, debt can be a tool for jumping on opportunities that demand extra cash the business doesn’t have on hand.
In certain types of small business, a line of credit might be necessary to manage the ups and downs of monthly cash flow.
For online businesses, debt is rarely needed though.
That doesn’t stop many online entrepreneurs from getting into situations where they take on debt due to poor financial management.
That’s why in this episode, we discuss:
– Why it’s not super common for our clients to need loans or credit.
– Why debt happens when online entrepreneurs don’t pay close enough attention to their finances.
– Common situations that force online businesses to take on unwanted debt.
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