How do you get out of debt without asking for a loan?

I have a small business and instead of making money I seem to be getting into more debt, how can I reverse the situation with out borrowing more money? The biggest problem is I have to live off the business it is my only source of income, so I know I drain the business but how else can I survive?

How do you get out of debt without asking for a loan?
The equation is actually quite simple: income must be greater than out-go. Cut costs to the bone, eliminate waste, actively seek new customers, be exceptionally polite and cooperative to those you have, go the extra mile.





Sometimes, if your business isn't doing well, you have to take a step back and reassess everything about it, even whether you need to be in business for yourself at all. Perhaps you should do this now. Owning and running your own business is one of the most difficult, yet most rewarding things you will ever do in life. It requires your total devotion and almost incredible amounts of work.





Good luck!
Reply:Join my business, u make 250/hour.. trust me. if u get licensed if u sit with a family for 1 hour every day of the week, U make 7 times $250. Message me when u get this comment. If u live in NYC ur lucky. Report Abuse

Reply:pay bills
Reply:If your living expenses are draining the business, then either your lifestyle is way to high to be practical, or your business model is a bad one. You don't indicate what sort of small business, but hopefully it's one with more money coming in than money going out. If not, it's not a business, it's an expensive hobby!





If you think you have a sound business model, then trim all expenses to the point they can't be made smaller without impacting the quality of your product or service, then focus on developing new customers. And make them happy so they provide you with more customers.





Under-promise %26amp; over-deliver.





Good luck.
Reply:Find ways to trim your budget....and change your Lifestyle until you CAN afford the extras.


BUILD the business with advertising.
Reply:You don't say what kind of business you have, but hopefully this applies. In most cases, you need to bring in a good $50/hour OR MORE in order to actually live as well as keep the business coming in. If you're undercharging in order to bring in business, you might make $15-20/hour but there's no money to live AND keep the customers coming. Try looking at your message. Are you the cheapest or the best? You will usually make much more money by being the best.
Reply:Basically revise your financial evaluation, try to get different marketing ideas to try to project your business, register under better business bureau to try to make a profit out of your business. Not sure what your business consist of but consider bidding on contracts. Then to try to get extra money buy and sell stocks you might want to speak with etrade specialist so they can let you know the best solution
Reply:If you have a business premises, then maybe you can scale down and lease space as storage to other companies. I know of a friend of mine who owns a small transportation company and leases his unused space to a small courier service.
Reply:Rob a bank or Quick E mart. If you don't get caught, you have money. If you do get caught, you have room and board taken care of! Seriously, cut your expenses, and rethink what you are marketing and how you are marketing it. Think about it! People pay lots for water in a funny shaped bottle with a catchy name.

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