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Yep. I've been there, and still paying back the loans I borrowed which finish end of next year. Third times a charm though. I now have 16% equity in a perform
by flannell 16y ago
Yep. I've been there, and still paying back the loans I borrowed which finish end of next year. Third times a charm though. I now have 16% equity in a performance management biz which is doing well. I believe most successful business men go bankrupt or got themselves into serious debt. Believe me, you're not alone in your desperate situation and I hope your situation improves quickly!
- 9oliYQjP 16y agoI wish I had a link to the report, but the Canadian government did a study where they showed exactly what your intuition told you. Even successful entrepreneurs had notoriously big debt loads in the early years. We're not talking double the average, but sometimes 4-5x that of salaried folks. Of the unsuccessful ones, a significant chunk went bankrupt due to their high levels of debt.