When is it Ethical to Not Pay a Loan?

When is it Ethical to Not Pay a Loan? 

The bank called. Your loan officer said you were unethical because you didn’t make the loan payment this month. The conversation ended with this advice, “If you were honorable, you’d do whatever it takes to pay this loan.”

The loan officer’s suggestion isn’t only exploitive — it’s incorrect.

If you chose to make payroll this month instead of the loan payment, you made a business decision. Ethics had no bearing on your ...

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Why Isn’t Your Brain Running Your Business?

 

Why Isn’t Your Brain Running Your Business?

 

Ego is a powerful and important tool to support success in the challenging world of entrepreneurship. Ego is the source of energy that tells you, you can accomplish anything.

It is what drives an owner to work 80 hours per week, climb over impossible barriers and accomplish amazing feats.

It is the sum of competitive ...

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6 Business DEBT survival facts you need to know.

6 Business DEBT survival facts you need to know.

 

1 Your merchant cash advance (MCA) ISN’T a loan. And your lender isn’t a bank.

MCA loans are predatory. They are systematically designed to parasite off your business until it dies. So, while they may claim to offer the solution, we believe they are the real problem.

  • These products ...
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The Key to Success is Delegation

The Key to Success is Delegation

As a business owner, you likely have a strong will and a forceful personality. Your sense of ownership about your business naturally leads you to take on many roles and do much of the initial work needed to start a company. These qualities have helped you meet the challenges of starting your company and build it ...

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What’s B.E.S.T. for Your Business?

What’s B.E.S.T. for Your Business?

Wanting the best for your business is part of your DNA as a business owner. You’re passionate about the purpose of your company. You’ve invested time, energy and money in bringing your ideas to life and hiring the right talent to support your mission. You’ve worked hard to secure your current sales and profit level. And each time you set a goal and reach the next milestone, you get a new burst of ...

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How Do Complex Organizations Regain Financial Health? They RISE.

How Do Complex Organizations Regain Financial Health? They RISE.

If expenses are flooding in, drowning your cash flow and your ability to pull your business back into healthy performance, then it’s time to rethink your strategy. Pivoting your strategy can be overwhelming when complex operational considerations complicate finding a path out of debt.


When discussing solutions ...

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Are You Running a Hobby or a Business?

Are You Running a Hobby or a Business?

Hobbies are a source of enjoyment for most people – that’s why they pursue them. Whether it’s making fine furniture, sharing Aunt Sara’s famous apple pie or creating a blog with their writing skills, people are passionate about their hobby. Sometimes after the hobbyist crafts a table for a wedding ...

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Why the Banker Can’t Always Be Your Friend

Why the Banker Can’t Always Be Your Friend

Having personal support when you’re building your business is important. Positive relationships boost your confidence and your creativity. Strong connections provide a healthy foundation for your long-term success.

You may have an honest, trusting relationship with your banker. But remember, the banker sitting behind the desk is acting as the ‘face’ of the bank. And the bank’s interests and your interests can diverge.

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The Cash Flow Crystal Ball – Your Pro Forma Statement

The Cash Flow Crystal Ball – Your Pro Forma Statement

These uncertain times add challenges to running your business. But you have a ‘crystal ball’ in your control to help manage your business future and position your company for profitability. It’s your cash flow pro forma.

As a business owner, you know cash flow for your company ...

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6 Bankruptcy Myths That Can Cost You Everything

6 Bankruptcy Myths That Can Cost You Everything:

Think bankruptcy will ease your debt burden? Think again.

1. “Bankruptcy offers me a clean slate.”

No. Here’s the truth: in Chapter 11 bankruptcy you still repay 100% of your debt over a period of five years, almost without exception. This means you get no actual debt reduction and your business credit gets destroyed nonetheless. Furthermore, things will get a lot worse if the plan falls apart – which it probably will (keep ...

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