Show of hands: How many of you are afraid to start (or scale) your business because you’re afraid of going into debt?
If you have your hand up, we get it. After all, no one wants to put $5,000 on their credit cards to spend on bags, shoes, or clothing. So, why would we take that risk for our business?
In today’s 'best-of' episode, we break down why that train of thought is deeply flawed. As women, we’ve let ourselves believe that we must be overly responsible with our money. We can only invest in something if we already have the cash in the bank to back it up. Otherwise, we’ll be seen as frivolous and financially irresponsible. That fear has holds us back from investing in our futures, taking risks for our careers, and jumping into entrepreneurship headfirst. And that’s just doing a disservice to our communities. While not all of us have the financial security and privilege to take on debt, for those of us who can afford to take on debt, it can be a very effective way to jumpstart your business.
Here’s what else you can expect in the episode:
- Our personal stories about the finances behind our first businesses
- The ‘Death Valley’ analogy and how to apply it to your business
- How debt can help you gain the resilience you need to be an entrepreneur
- The J Curve and why you should be studying it ASAP
- Why you need to surround yourself with people who believe in you
RESOURCES
This podcast is brought to you by the Marvelous online teaching platform. Marvelous is an easy-to-use platform that helps you build and sell your own courses memberships and live-streamed programs. Go from idea to open for business in just minutes. Unlike other startups, Marvelous was created by women for women. If you're looking for a simple, streamlined way to build and grow an online business. You can learn more at
Marvelous.