Money is a huge part of our lives. It’s possible that money is one of the main reasons why you’re a product boss! But oftentimes, we see people make the mistake of handling their business finances with the same money mindset they use in their personal life. However, that shouldn’t be the case as they are separate things, and, as such, need to be approached differently. Here’s how.
Work Life or Personal Life – Money Mindsets Depend on Context
Usually, we want to keep things debt-free, but it can be unrealistic to operate a business – especially a small product business – without debt. We’re not saying you should rack up debt on purpose, but at the same time, you shouldn’t be scared to use the credit options available to you as tools to improve your cash flow.
In this episode, we run through three of the best ways to do this, from getting a line of credit to small business loans. Remember, as a product-based business owner, you need to capitalize on ways to improve your cash flow so that you don’t get stuck. To do this, you’ll need to shift away from that debt-free mindset and start using financing and credit as tools to grow your business!
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