Never Take A Loan For Starting A Business ✔️✔️

In this video, Mark Cuban explains why you should never take a loan while starting a business ✔️✔️
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[gyrdckiy]

As a very very small business owner all I have to say is "well said"

[Izzcredit]

This is not always true. I took out a loan to buy a vending machine business. The cash flow from the business pays for the loan. The main thing is to win, and not let someone on social media determine what’s right for u. Billionaire or not

[Blackflag.actual]

Yea ok... i own a trucking company. Try starting one with out a loan. No one has 200k just chilling in the bank and thats just for 1 truck. Not including fuel, maitanence, permits, and emergencies.

[vikrantarenja]

Yet all big rich people started with borrowings

[Broxalax]

that's the biggest lie this guy has said.

80% of all businesses fail in the first year due to lack of capital.

[trustme]

Slap a Jordan Peterson quote here "In capitalism it's next to impossible to start from zero"

[LoafOfBread]

Sent this to my brother who is about to take out a $210, 000 loan for his hot sauce business. He stopped talking to me 😂😂😂😂😂

[consumerdebtchitchat]

Received an unexpected $3, 000 bonus this year at work
Decided to turn my love baking cakes into a business. Got my LLC, business insurance and business credit and checking accounts. Have no mortgage and my 110k student loan was paid off in 2022 through forgiveness. Absolutely no regrets putting my 3k windfall on starting a business.

[bluesoman]

Why do we have to compete with someone who works his life away just to run a business? We allow these extreme people to guide our values when they are simply unhealthy.

[yvjjtsw]

At 44 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I’m forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be paid off next month! 🥳 It’s never too late to start saving like there’s no tomorrow, and I’m really REALLY excited and motivated. Oh and TODAY, fyi my emergency fund is also a done deal! by BsnsFunding lol, I didn’t make it myself.

[mel-]

Now I'm 49% motivated and 51% threatened. haha

[pututwicaksono]

It's easier to talk when you already on top..

[Arkokar]

Barbara:
And for those reasons I am out 😀

[JustJoshinYouBro]

He's not saying this as advice to help you. He's saying this to eliminate competition. He admitted it at the end.

[canadianeh]

Back in the day, starting a business with nothing was the way to go. Now today, I'm sorry to say that if you have no money you ain't starting nothing! Time has changed.

[Baldcurious]

That's biggest pile of shit I ever heard. I'm a small business and my business took off after loans

[joelhensman]

Sometimes you have to take risk to get the reward. Yes loans are risky because you have to use the money extremely carefully and make sure to be profitable- but thats terrible advice. If you know how to allocate the cash properly and know you’ll get the returns to pay back the loan. TAKE THE RISK. No one in this world ever became something more without risk.

[garrettpatterson]

Idk my restaurant makes 750k a quarter and it's not because I work hard, I did have to in the beggining, but what I've learned is good people make your business. If you trust them life is good

[roldanrosario]

Business loans work for people that know the industry well. What he just said applies to people trying to learn from trial and error with no mentorship, experience, or experienced business partners. The first step is to acquire one or more of the last 3 I just mentioned.

Thank you for posting good advice on this topic.

[YelaDuck]

I agree solely, you have so many people wanting to start a business with no experience.