AI Snips
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Episode notes
Joe's Chicken Restaurant Growth
- Joe expanded from one chicken sandwich shop to nine restaurants in six years using reinvested cash flow.
- He aims to open 75 restaurants in 10 years but faces challenges getting bank debt due to lack of collateral on leasehold build-outs.
Grow Cash Flow First
- Avoid heavy borrowing to accelerate business growth due to high risk of failure.
- Consider cash flowing growth even if slower, to ensure sustainability and completion of your business goals.
Sharice's Childcare Debt Crisis
- Sharice ran out of money expanding her childcare business, facing debt and possible lease loss.
- Dave advised selling her house to pay off lenders and restart debt-free, preserving the profitable first location.