The Secrets I Share By Nadine Larder

Financially Fearless in Small Business: The Secrets I Share With My Friends

85% of all small businesses don’t make it and therefore a good portion of us (myself included) small business owners are doomed before we even begin. My optimism and support for small business as well as my desire to help is the reason for this website and at the core of everything I do today. Though I know “My Secrets” book will be of great help any small business owner who reads it, the fact remains, only 15% of small businesses make it. Those that don’t make it are usually left with a failed business and a pile of debt as a result of the failure. The reality of things really sets in when the bills still keep coming in long after the business is gone. Can you imagine having to continue to pay the debt of a business you don’t even have anymore? This article is all about how to avoid that and be financially free and fearless in your business.

My biggest hope is that this article helps you stop and think before you decide to take out a small business loan, mortgage the house, or take out a loan against your retirement if that’s something you’re considering.

I’m very conservative in my approach to business finances and I have a simple accounting system. If we don’t have the funds available, we don’t have the funds available. If we don’t have the funds to hire this person or that one, we can’t hire them. If an amazing opportunity comes along and we don’t have the funds to participate in it, we can’t and don’t participate. We’ve never missed payroll and we have no bills. The people who work for me are secure in their jobs and know they will be paid because they all know we work exclusively with cash and don’t over extend ourselves. Doing so would be putting their jobs and family income at risk. Having worked for a company that didn’t manage their finances and therefore cost me my job and my ability to provide for my children as a single mom didn’t feel good. I would never want to put the people who work for me in that same position, so I don’t.

The question I have for small business owners out there thinking about getting a business loan is this. If you don’t have the income from your business to sustain it and grow it, how you will have the funds available with the same business model to pay off debt incurred AND the expenses that weren’t affordable causing the need for a loan in the first place? It’s a recipe for disaster and I feel it’s why so many businesses don’t make it.

Here’s what I know for sure; desperation breeds ingenuity, resourcefulness and amazing creativity. People who are desperate figure it out, because they have to. If you are unable to produce income in the most desperate of times, you won’t likely be able to produce income with a boat load of borrowed money in the bank. Money you didn’t work to earn, it’s money that someone else worked their butt off to earn, you’re just using it. And the reality of borrowed money is this, people don’t spend borrowed funds the same way they spend money they put their own blood, sweat and tears in to earning. Easy come, easy go. What isn’t worked for isn’t appreciated or valued as much as that which is worked for.

If desperation breeds creativity and ingenuity, what does credit breed in ones ability to succeed? something…completely different and totally opposite.

I started PrinterBees with $100 and a passion to help small business owners grow their businesses with affordable and effective marketing. The PrinterBees brand and team has helped tens of thousands of small business owners and entrepreneurs with their marketing. Our brand has extended to this website, The Secrets With Friends brand and book for small business owners and Real Estate Marketing Magazine, the e-magazine dedicated to helping Realtors®, the same way this publication is dedicated to small business.

I was 1.5 million in debt when I founded PrinterBees from my home office, with no income and no potential for income in the short or distant future. Accruing more debt was not an option and neither was getting a job. Self sworn to never have a job again, I found creative ways to help PrinterBees make a buzz and we’re buzzing along nicely. If I can do it, so you can you.

All my secrets for building up a successful business are in the book The Secrets I Share With My Friends; Everything I know about building a small business. if you’re thinking about starting a business or already in business, it’s a great read and a huge help.

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