Check out the story below, as told by my colleague, Mike —
He has experienced some highs and lows while building his family’s business, and offered to share what he’s learned with others.
Sometimes it’s so difficult to put yourself out there when you’re pursuing a dream. But with the right direction and mindset, you can figure out the best way to achieve success.
Which sometimes equates to making a tough decision — but always results in a learning experience.
Deciding on a Small Business Loan
“One hundred fifty thousand dollars on the build-out, two hundred seventy-five on the business, and another couple hundred on the goodwill…”
It was like a sick and twisted math problem, circa 1st grade, just adding up all the small business loans we had taken out.
Was I stressed and burnt out, and (in an honest moment) just a little terrified?
But, at the same moment, I would also admit to feeling as professionally “alive” as I had ever felt in the past. There we were, a married couple in our early thirties and now business partners.
We had just signed the final documents to take ownership of our new dental practice and immediately begin construction on a brand new office (not by choice but out of necessity).
There were 5 employees, a mountain of debt, an under-performing practice, and a major fork in the road.
Our lives and the lives of our new Team (as I call them) would profoundly change depending on which arm of the fork our journey would lead to.