Thought for today:
Business Debtors Anonymous is a part of Debtors Anonymous. Business owners, or those who wish to open their own businesses, are welcome to join.
The habits of debting, under earning and over spending can appear in businesses as easily as they do in people. Business owners need to keep vigilant, and guard against frivolous expenditures. We need to research specifications, and support cash flow.
BDA Tool 5
“We remain mindful that dollars spent should generate revenue and compare prices before making purchases.”
A member shares:
“We share our business space occasionally with other businesses. To do this, we make deals that will generate revenue for both of us. These deals have to produce a profit above our overhead.
“The businesses appreciate our space. We don’t compete with them. They are in complementary businesses.
“This helps us get more traffic, and leads to potential sales for us. It’s worth the investment in time and money to make sure these businesses have what they need to run their operation in our space.”
Purchases that make sense:
As solvent business owners, we can think through our business purchases. Investing in our company is fine, as long as we are going to make income from it. Otherwise, we are a charity (which we are not).
Ask:
Am I preserving cash and testing the value of what I buy for my business?
Meditation for today:
Being willing to say ‘no’ is freeing. When our gut says no, we can listen to it and stop what we are doing for a moment.
Affirmation for today:
“I am preserving cash by focusing on my product or service. I do not wait for someone else to take charge.
“I manage a ‘going concern’. I fulfill my business’ mission, remaining solvent along the way.”
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