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  • Is it possible to grow and run a successful brick and mortar business without debt?

    Charles created 3 days, 9 hours ago 0 Member · 1 Post
  • Charles

    Member
    September 13, 2019 at 2:08 pm

    I’ve been running my small shop for 3 years now and for the last 8 months it has been stagnant. It seems to hit a peak in it growing point while competitors near me are doing much better. There’s a guy who owns a store in the same plaza as me, he also owns a branded car dealership and a few commercial property around town. He’s a successful guy so I opened up to him about my shop and asked him for advice. He told me the problem is that I’m not using any debt. Apparently every one of his businesses and assets has debt because in his words “no debt means no growth”. I don’t know whether that’s true or not, personally I haven’t been using any debt and trying to avoid it. He mentioned that if I don’t use debt, my competitor will and I’ll never compete. – by hq overview ronnyYaland – –

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