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Dave Ramsey Says...<br />
qShould a new small business that’s still<br />
growing seek out investors?<br />
AI would not advise a small business to seek out<br />
investors—period. My advice is to grow small<br />
businesses with organic cash, meaning you earn<br />
the money with which you’ll grow. It may mean<br />
you grow slower, and it might mean you turn<br />
down some “big deals” you thought were going<br />
to be the biggest and best things of your life. You know what?<br />
That’s okay. I’ve turned down deals like that over the years, and I’m<br />
firmly convinced it’s better to be the tortoise than the hare. When<br />
you sell a piece of your ownership to people who are looking for<br />
a return instead of caring about your dream, you’re creating the<br />
potential for a serious mess. A lot of times they’ll seem like silent<br />
partners, which I think is an oxymoron in small business. Most of<br />
these people can’t keep silent because they’ve put money into your<br />
deal. They’re all going to have different ideas and opinions, and<br />
there’s a good chance these are going to clash with the vision you<br />
have for your company.<br />
W<br />
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Cash flow your growth.Cash flow your equipment purchases<br />
and the markets you enter, also. Does this mean you might miss<br />
an opportunity? Sure, it does. It also means you’ll be missing<br />
opportunities to fail. Too much success too soon is the second<br />
biggest reason small businesses shut down.<br />
When you grow too quickly, you run the risk of outgrowing your<br />
human resources, your financial resources and your infrastructure.<br />
Do what you can to ensure that growth is steady, but play it smart.<br />
Don’t grow so fast that you crack the foundation of the company!<br />
ABOUT DAVE<br />
Dave Ramsey is America’s trusted voice on money and<br />
business. He’s authored four New York Times best-selling<br />
books: Financial Peace, More Than Enough, The Total<br />
Money Makeover and EntreLeadership. The Dave Ramsey<br />
Show is <strong>heard</strong> by more than 6 million listeners each week<br />
on more than 500 radio stations. Follow Dave on Twitter at<br />
@DaveRamsey and on the web at daveramsey.com<br />
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8 onthetown onthetowntexas.com<br />
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OTT Texas Sept Oct FINAL.indd 8<br />
10/10/2013 12:55:49 PM
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