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Money is a tool, if you know how to use it!!!
It's hard to talk about being a business owner without talking about money, and we are talking today about all things money and why we should know how to both earn it and use it! We talk about both the pitfalls and the advantages of taking loans out and give examples of resources that will lend money to small businesses and how running a business is financially similar to running a household.
We discuss in detail various ways to borrow money such as peer-to-peer lending, crowdfunding like Kickstarter, credit cards, home equity loans, and simply going to the bank. We also touch upon the differences between these various methods and their pros and cons. Don't forget to have a plan in place before pursuing one of these options because you don't want to be taken under!
We feel so much better about money after having this conversation and are so glad that we sat down to talk about this! We hope that this chat resonates with and is helpful to you, and, as always, we appreciate you listening to the show and encourage you to reach out to us via the email address provided in the show notes if you have anything that you would like to share with us! We would really love to hear from you! Until next time!
Time Stamps
[0:29] – Karamel reveals that she is currently in need of some money.
[3:08] – Karamel defines what she means by hard money.
[5:46] – Michele talks about the risk that a company takes when lending you money.
[7:22] – Michele refers to the book about entrepreneurship that she has been reading.
[10:03] – Michele and Karamel address anxiety around making a profit when borrowing money.
[11:15] – Michele compares running a business to running a household.
[13:58] – Michele touches upon a way to bring in more revenue.
[14:53] – Discover how Karamel is playing real-life Monopoly.
[16:13] – Michele defines peer-to-peer lending.
[19:03] – Karamel and Michele point to credit cards and home equity loans.
[20:18] – We learn how Karamel now thinks of money as a tool.
[23:04] – We are advised to have a plan to pay loans back so that we don't go under.
[26:06] – Michele recommends that we financially stay ahead by at least a couple of months.
[28:18] – We are left with some closing advice.
Resources
CEO Chronicles – Website
Email us: [email protected]
Women Travel Abroad
View all episodes
By Michele Coley & Karamel McCoyIt's hard to talk about being a business owner without talking about money, and we are talking today about all things money and why we should know how to both earn it and use it! We talk about both the pitfalls and the advantages of taking loans out and give examples of resources that will lend money to small businesses and how running a business is financially similar to running a household.
We discuss in detail various ways to borrow money such as peer-to-peer lending, crowdfunding like Kickstarter, credit cards, home equity loans, and simply going to the bank. We also touch upon the differences between these various methods and their pros and cons. Don't forget to have a plan in place before pursuing one of these options because you don't want to be taken under!
We feel so much better about money after having this conversation and are so glad that we sat down to talk about this! We hope that this chat resonates with and is helpful to you, and, as always, we appreciate you listening to the show and encourage you to reach out to us via the email address provided in the show notes if you have anything that you would like to share with us! We would really love to hear from you! Until next time!
Time Stamps
[0:29] – Karamel reveals that she is currently in need of some money.
[3:08] – Karamel defines what she means by hard money.
[5:46] – Michele talks about the risk that a company takes when lending you money.
[7:22] – Michele refers to the book about entrepreneurship that she has been reading.
[10:03] – Michele and Karamel address anxiety around making a profit when borrowing money.
[11:15] – Michele compares running a business to running a household.
[13:58] – Michele touches upon a way to bring in more revenue.
[14:53] – Discover how Karamel is playing real-life Monopoly.
[16:13] – Michele defines peer-to-peer lending.
[19:03] – Karamel and Michele point to credit cards and home equity loans.
[20:18] – We learn how Karamel now thinks of money as a tool.
[23:04] – We are advised to have a plan to pay loans back so that we don't go under.
[26:06] – Michele recommends that we financially stay ahead by at least a couple of months.
[28:18] – We are left with some closing advice.
Resources
CEO Chronicles – Website
Email us: [email protected]
Women Travel Abroad