It seems that every where we go and the people we speak to always bring up the topic of debt. A few years ago I spoke to a multimillionaire on the topic of debt. In case you were wondering, he does know me and my name. He told me that one of the few things that made him so successful was the fact he didn’t have any debt. It gave him the freedom to buy deals and the freedom to not have to worry about a company coming after him as well as the additional interest that he would be charged. In fact, the only reason purchasing anything on a credit card would be a good ideas was if there was a guaranteed increase in value by 10 times the sum of the original purchase price and the total amount of interest that you will pay when you pay it in full. In short, when you pay it off in full did you gain more money than you paid to have it?
Well, this isn’t the thesis of my post. What it’s really about is the fact that I paid off another debt! So rejoice with me! I’m a little aggressive (in the words of Dave Ramsey GAZELLE INTENSITY) about paying off my business debt because the fact of the matter is that the more debt my business has the less opportunity I have to take care of my clients. I don’t think this is talked about very much in the business or at least in the photography industry as much as it should. Maybe I’ll pick up that subject later but for now. I’m rejoicing that another debt has been paid which means more opportunity to add value to my customer’s experience.