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David NeagleWhen Getting a Loan Makes Sense (Guest Blog, David Neagle)

A Q&A from “The Neagle Code: Directions for Life”:
Question:
Do you go into debt to finance your company to stretch the reach of your audience and marketing possibilities?

Answer:

Hi Kim, and thanks for your question.

This question is the perfect example of my teachings on using debt as a tool.

 I truly believe that the best use of debt is in the investment in your own growth, whether it’s personal, spiritual or business.

If you talk to any successful business owner you will see that they have used debt to propel their business.

However, there are parameters around using debt to grow your business.

First, before considering taking out a loan, you MUST have a plan. You must have an actionable strategy with clear-cut goals and benchmarks or be investing in a program that’s going to give you that clear-cut plan.

Taking out a loan and not having a plan in place that allows for you to pay it back is financially irresponsible and only serves as a Band-Aid.

Second, you must be WILLING do what it takes to get a return on your investment. This means you have to take action on your plan, and allow nothing to stop you.

A plan and goals are only as good as the paper it’s written on unless you are willing to take action on it.

I see entrepreneurs EVERYDAY who spend money on building their business or getting the information they need to build their business, but they never take the action they need to take to grow.

P.S: The Neagle Code: DIRECTIONS for LIFE is a weekly no-cost program that is open to everyone! Each week, I’ll select and personally respond to one question received via the above “The Neagle Code” page that I feel in my heart will help the most people. (You may choose to remain anonymous if you wish, with our full support.) It is my deep, heartfelt intention that ~ in answering your questions ~ I may provide you with the Universal Truths that in committed application, will set you free. Simply submit YOUR burning question at: www.TheNeagleCode.com to participate.

 

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Lisa's Comments:

This concept really hit home for me when I first heard it from multi-millionaire entrepreneur and business coach, Ali Brown. I had been trying for 3 years to build my business without using credit cards.

When I understood the need to have higher capital than I had in the moment in order to fund the coaching and other larger investments I needed to help my business grow faster, I finally hired my first private business coach and subscribed to an automated service to manage my database and deliver my newsletters. It wasn't long after that I began to see an exponential growth in my business and at the end of that year, I pushed past the income ceiling I had been stuck at for 3 years.

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Are you willing to find a way to invest in your business to make sure it succeeds? Do you need help determining what to focus your efforts and your money on in your business?  Schedule a complimentary MMM Strategy Session with me to identify where your blind spots are so you can sign up and serve more clients to make more money and make a difference in more lives!

Your partner in success,

Lisa Smith
Marketing, Mindset & Manifesting Coach
www.MarketingMindsetAndManifesting.com

 

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