How much debt is lurking behind our credit reports? One WalletHub study found that the average household owes $8,600 to credit card providers—which is unsurprising, given that Americans have collectively racked up more than $1 trillion in IOUs (I own you, or debts). In other words, founders are more likely than not to be floating in fiscal purgatory.
Does this mean it’s impossible to succeed? Of course not, or we’d never have any startups at all. Entrepreneurs just need to plan carefully and take calculated steps forward.
To effectively combat financial obstacles, starry-eyed innovators owe it to themselves to become resourceful and scrappy. Whether that means taking advantage of cash-back rewards or paying for items through points redemption doesn’t matter. What does matter is making smart choices right out of the gate; otherwise, financial obligations could slay even the most noteworthy operation….