KBB Unstoppable Business Owner Podcast: Debt management for growth

The latest episode of the KBB Unstoppable Business Owner Podcast, live on October 7, tackles debt management reframing it as a strategic tool for growth.

04 Oct, 24

The latest episode of the KBB Unstoppable Business Owner Podcast, live on October 7, tackles debt management reframing it as a strategic tool for growth.

According to host Kevin D. Bannister, debt doesn’t have to be intimidating and if used wisely, it can be the key to scaling your business.

He looks at the benefits and pitfalls of borrowing money in your business.

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Exploring the “Debt Whirlpool” which business owners can fall into, he says interest payments can feel overwhelming and stifle growth.

He shares a simple three-step framework to help you manage debt effectively and leverage it to drive success.

He states the first step to breaking free is to assess and categorise your debt, and understanding where your money is going is crucial.

Bannister points out retailers in debt need to create a repayment strategy, whether through the avalanche method (tackling high-interest debt first) or the snowball method (starting with smaller debts for motivation).

Encouraging business owners to leverage debt for growth, he says use borrowed funds strategically to generate higher returns.

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