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Minimise Debt Financing by Blake Ridler

Blake Ridler from Dynamic Accounting Solutions here with a business tip. Over the last few years I have seen a number of business start from scratch and have even started a couple of my own, here are a few lessons learned. When you first start off in business minimise your dependence on debt financing, I can't stress this enough, stay away from credit cards and loans where possible. The repayments are a real drain on your cash flow and will put your business at a disadvantage and you under a lot of pressure from day one. If you do need finance keep it to a minimum and make sure you maximize the value of each dollar you borrow. Start out small and grow your business organically, reinvesting some of the profits as you go. Don't be afraid to take on partners or equity backers, some extremely successful business people are where they are today because they went into business with the right people. And finally put together one mother of a business plan, there are some awesome free templates out there and hey you can use your business plan to show potential partners and backers what they are getting themselves into. Facebook: www.facebook.com Web: www.dasolutions.com.au

View Count: 2 Date: January 21, 2012

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  • tiffanywatson83 January 22, 2012

    We will call you next time Gav :)

  • Gavinmacdonnell11 January 22, 2012

    wooooooof didn't hear a word he said ^:)^ call me in on the next shoot

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