Forum Discussion

4 Replies

  • I recommend growing your business by first reinvesting your profits and using vendor credit to help with everyday expenses and staying debt-free as long as you can. Only jump in and take out loans or lines of credit when you see a clear ROI for whatever the debt amount is. 

  • ryaantuttle's avatar
    ryaantuttle
    Jobber Ambassador

    Using debt is the wisest way to grow and scale. However, "scaling" is the new cool term when most should just focus the basics until they get to this point. Growing and scaling is not always the best option for everyone and should be part of your biz plan from the beginning anyway.

    • BrandenSewell's avatar
      BrandenSewell
      Jobber Ambassador

      What do you think are the signs that a company should not be focusing on scaling, or using debt to grow?

      • KellyUGuerrero's avatar
        KellyUGuerrero
        Contributor 4

        I think if your business is in the red, it's not the time to be scaling or trying to take our debt.  Your basics need to be solid before you take on the added challenge of growing or pulling debt.