Getting down to business

September 25, 2006

I’d like to take a few minutes to tell you where I’ve been and where I’m going. What I don’t want to do is tell you too much. Most of this site is going to focus on broad subjects and not on the intimate details of what my business does. I don’t want to give my name or the name of my company. I don’t want to tell you what I do or sell. What I’m going to do is tell you what works and why it works. I ‘m going to explain my thoughts, problems and mistakes and hopefully we’ll all come away with a little more knowledge to kick around in our heads.

To start off, let me say that I have a business now that somewhat pays the bills. I’ve been working with a partner who is a hardworking, dedicated individual and I spent considerable money (about $50,000) to combine my existing business and become equal owners with him. So, I am not completely starting from scratch but we have a big, long, winding hill to climb to find our way to the top.

Last week I successfully helped to close the largest sales deal of my life and it was a turning point. As we go forward I think we have every opportunity to succeed in what we’ve set out to do. It will only be our fault if we don’t.

My main problem now is debt and ongoing income. I have a home, two kids, a wife, a dog, two cars and a home equity loan. In addition, I completely leveraged every credit card I owned to get this business going full time. Why? Mostly because I didn’t want to mess with a conventional bank loan and because I could get a VERY low rate indefinitely on my credit card. So essentially I have a very low interest loan that I can pay off as I have the money.

The problem is this. I need to run a business that supports two families, pay business expenses, continue to pay down my debt, dedicate money to capital investments and marketing, put money away for retirement, my sons college, a nest egg for slow months and a rainy day and find ways to pay AT LEAST the monthly minimums on my debt and my every day household credit card payments. It’s a big, fat, hairy battle that weighs on me and my wife (and our relationship) daily.

Am I complaining? Hell no. I’m not a complainer. I have nobody to blame but myself and honestly I don’t believe that any of the debts I just mentioned are wasted. They are legitimate expenses that I need to live, support and care for my family and build my business. I just need to do it all without going insane and find business success.

So, in a nutshell, I have a good foundation going forward. My business is paying it’s bills, we have a decent base of sales, my partner and I haven’t killed each other yet and the future looks fairly bright. I just need to juggle like the best damn circus entertainer there is. I need to walk on fire while jolting myself with 10,000 volts. In the end I just need to be tough and survive through it all. I know it will be worth it in the end.

As the story unfolds I’ll be sure to tell you more about my business and what we have brewing. For now though I have to get back to what really pays the bills.


One Response to “Getting down to business”

  1. […] Ethical Business — Be an Ethical Entrepreneur, Marketer, and Business BuilderOne Year In Business […]

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