Using Debt Strategically in Your Business

Profit Is A Choice

English - November 12, 2023 17:00 - 37 minutes - 53.7 MB - ★★★★★ - 52 ratings
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Previous Episode: Creating Good Financial Systems

Next Episode: All Roads Can Lead to Profit

Joining me on the podcast today is Danielle Hendon. She is the owner of Four Corners CFO. Danielle loves to take big business ideas and break them down to support small businesses to reach that next goal, to grow and scale, or to just wrap their arms around their business. We're going to have a really great conversation today focusing on debt, such as good debt versus bad debt.

Topics Mentioned:

Debt

Intentionality

Understanding your financials

Key Thoughts:

Honestly, the difference between good and bad debt is the intention behind it. If you're going into debt, because you didn't do something, and it's a last resort, it's generally not the best type of debt to have. Danielle 11:37

It's the fixing of the process because that's part of that intentionality, I teach an aim with intent methodology. It starts off by having a solid foundation and then creating intention, intentional budgets, intentional KPIs, and intentional spending patterns. Michele 15:28

Every business, we've all got to start somewhere, and I tell people all the time that debt is such a loaded word, and it carries such a burden to us mentally, and money in general. Cash makes or breaks a business. Danielle 20:06

It's really being aware of what's happening. Otherwise, everything is reactionary as opposed to being proactive with our money. Michele 34:53

Contact Michele:

Email: [email protected]

Facebook: Scarlet Thread Consulting

Instagram: @ScarletThreadATL

Website: ScarletThreadConsulting.com

LinkedIn: Michele Williams

Contact Danielle:

Email: [email protected]

Website: https://4cornerscfo.com

LinkedIn: @Danielle Hendon

Instagram: @4cornerscfo