Been there, done that. Got the T-Shirt and High Blood Pressure.

Business owners, your “prestigious” credit card is not a status symbol, it’s an idiot symbol.
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In business debt, that is. I was dumb. Business debt is plain dumb. And business credit cards…oh don’t get me started.
Well, I just started, so here goes.
I logged into LinkedIn a few weeks ago only to see an advertisement with a smiling small business owner claiming that he owed his business success to the credit card company doing the advertising. WHAT?!?!
I’m not going to call out the company, but let’s just say their name rhymes with “city tank.” The ad was laughable, sad, and fury-inducing all in one pinwheel of emotions.
They are trying to convince me that this card, with all of its fancy perks and rewards is the reason why Joe transformed his business from a two-person startup to a multi-million dollar empire. A card. A piece of plastic that magically loans me money I don’t have and asks for nothing other than a 84% interest rate and the naming of my first-born child. That is how Joe built his business!
Really? Have you ever heard a great entrepreneurial business leader like Steve Jobs, Bill Gates, or Richard Branson say “You know, some might say that our success was due to my visionary leadership, our great people, or our uncompromising dedication to our principles, but they would be wrong. It was absolutely due to the triple points we got with our Rainbow Business Card.”
No!
I beg you, if you are a business owner, do not fall for this lie. It’s a trap. Businesses are not built on the backs of American Express and Visa. And the Plum/Mango/Passion Fruit card is not a status symbol; it’s a symbol of idiocy. It’s only a blatantly obvious sign that you have borrowed and paid off too much money and have the gray hair to prove it.
So please, dear business owner, don’t believe the advertising. Build your business on cash. If you have not already, read Dave Ramsey’s book EntreLeadership, which does a much better job than I can of outlining exactly how to do this (Spoiler Alert: It involves a lot of common sense, math, and wearing of big boy pants.).
Question: Have you built a debt-free business? If so, how did you avoid the lies and myths of needing debt or fancy credit cards? You can leave a comment by clicking here.
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