The Key to True Business Ownership: Eliminate Your Debts

Hello Warrior,

I hope this message finds you well.

As a wise man once said, "You'll never own your business until you're out of debt." My granddad, Cyril Burt, spoke these words. He was a successful entrepreneur who understood the importance of financial freedom. Today, I want to share with you the valuable lesson he imparted to me and encourage you to take a careful look at your debts.

Check out this video:

Debt can be a double-edged sword. It provides opportunities for growth and expansion, but also creating a burden that weighs heavily on your journey towards true business ownership. While some level of debt may be inevitable, it is essential to exercise caution and ensure that it remains manageable. This means being aware of your debts and taking tangible steps to pay them off.

With each payment towards your debts, you are not only lightening your financial load, but you are also paving the way for complete ownership of your business. Imagine what it would feel like to have complete control over your destiny, free from the shackles of overwhelming debts. By tackling your debts head-on, you are one step closer to turning this dream into reality.

In the workshop I taught in college, I talked about paying off a mortgage that was around $1,200 a month. I would then ask them, “what could you do with an extra $1,200 a month?” To a room of broke college students, $1,200 a month was a lifestyle change. What about in your life? If you could keep that money, rather than give it to a creditor, how would you upgrade your lifestyle?

I urge you to act now. Begin by assessing your current financial situation, identifying any outstanding debts that may be hindering your progress. Prioritize them based on interest rates or any legal implications they may have on your business. Plan a strategy to gradually eliminate these debts, allocating a portion of your income towards repayment each month. Work towards true ownership of your business.

As my granddad wisely stated, "You'll never own your business until you're out of debt." Let these words ring in your ears as a reminder of the importance of addressing your debts promptly. Your financial freedom and the complete ownership of your business lie in your hands. Take action today and begin your journey towards true business ownership.

Thanks,

Lawrence Stone
[email protected]
#thebassictrainer #watchwhathappens

P.S. Here is the quote from J. Reuben Clark I mentioned in the video

P.P.S. One of my newest tools that I am especially excited about is “The John Maxwell Leadership Game.” This game is so much fun, but even more important, it opens up a conversation about how to make your business even better. It is a great tool to develop and elevate your business. If you would like to get your team talking more about improving your business, respond to this email and ask me about how the leadership game can help you establish a rhythm for your business.

Go to www.thebassictrainer.com to book a free discovery appointment. Subscribe to my weekly email @ https://thebassictrainer.beehiiv.com/subscribe

Clifton Strengths: Context, Belief, Futuristic, Individualization, and Connectedness.