549 | The mental and emotional benefits of running a debt-free business Part 2

Use the timestamps below to guide you better as a leader or individual:Mental and emotional benefits of debt-free business. 0:00Chris LoCurto and Joel Fortner discuss the mental and emotional benefits of running a debt-free business, including being a leader or team member within a business.Joel Fortner asks Chris LoCurto a question about the unintended consequences of debt that they didn't have time to discuss last time.Following passions while avoiding debt and staying grounded in faith. 2:42Joel Fortner asks Chris LoCurto about going after passions while avoiding debt, to which Chris responds that going into debt is never justified and that following one's passions can lead to financial stability if done responsibly.Chris shares his personal experience of following his passions while recovering from past mistakes and staying out of debt, demonstrating that it's possible to pursue one's passions without incurring financial harm.Chris LoCurto shares a personal story of following God's will despite hating his job, which led to a job opportunity and the chance to turn someone's life around.Chris emphasizes the importance of listening to God's will and trusting in His plan, even when it goes against our own desires and circumstances.The dangers of comparing oneself to others in business. 8:26Chris LoCurto emphasizes the importance of focusing on God's will over personal desires when making decisions about business or life in general.Joel Fortner expresses frustration with feeling stuck in a competitive business environment and desires to find a way to get ahead.Chris LoCurto emphasizes that success is not based on comparing oneself to others, but rather being the best version of oneself.He encourages listeners to focus on their own growth and development, rather than comparing themselves to others in their industry.LoCurto shares his personal experience of leaving a successful business to pursue his true calling, highlighting the importance of listening to God's guidance and not comparing oneself to others.Risk management in business and personal finance. 14:57Chris LoCurto emphasizes the importance of mitigating risk in business, particularly when it comes to owning everything and having considerably less risk compared to leveraged businesses.Joel Fortner asks how business owners and leaders can navigate difficult circumstances, such as encountering financial difficulties, and Chris LoCurto suggests a deeper walk with God may be necessary.Risk management and profitability in business. 17:36Chris LoCurto takes calculated risks and prioritizes the collective intelligence of his team to ensure success.He emphasizes the importance of mitigating risk by not having debt and having assets to fall back on in case of business failure.Chris LoCurto questions whether he is holding himself back from God's blessings by not surrounding himself with the right people and seeking proper influence in his life.Joel Fortner seeks advice on how to get out of debt, which Chris acknowledges will take time and effort.Paying off debt...