How to get out of business debt - Learn Online

How to get out of business debt

Lesson Details:
April 27, 2020

Video Transcription: What people people often ask me is once they get into that with their business how was the best way is there techniques or suggestions that you can make how do people get out of business that this video is brought to you by Appy Pie’s Academy there's a great question it has a lot to do with how they got into business debt to begin with so there's the kind of business debt that you get into because you started up your business and you needed money to do that that's a little bit of a different animal than business that you get into to continue operating your business because if you're incurring debt as you're operating your business that means your business is is not functional yet so it and it also means that you didn't know how much you needed to start your business when you started it and so you continuing to incur debt so you kind of have to attack them a little bit differently because it has to do with really fundamentally whether your business is viable or not once I start talking to people and they have a lot of business debt if they're continuing to occur that business debt we really have to look at you know is this something we're gonna to fish with or we're gonna cut bait on this are we gonna sink or swim with this business because once you start getting a lot of debt you know how debt works in that big snowball way that it's just more and more and more and more so the the real question is do you have a viable business underneath all of this and you just need some strategies for getting out of debt or do you basically need to stop getting into so much debt and maybe move your energy in a different direction in your business.

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