“A bad economy doesn’t create financial problems – it just reveals them.” – Joe Polish
People and businesses get away with bad decisions and bad performance when things are good.
Like too much debt for example.
When things turn bad, it’s a big problem. If you don’t have the cash flow (profit) to pay the principal and interest payments, it’s game over.
Debt can amplify your progress or profits when things are good, but it can also amplify your losses when things go bad.
You only have to go broke once to lose it all.
How much debt do you have?