A Sound Business Weathers Economic Downturn

Here’s a great example of a telecommunications business that is financially free because of the way they have done business – without debt:

“The good news about FiberLight is that it has been self-funded since the day of its inception. We carry no debt and we borrow no money, so we don’t need the capital and the credit markets”

If you’re starting a business, and have planned well, perhaps you could do the same. I know a young millionaire who did that. He sold everything he could to get capital and started a business online. It took a year to become a millionaire. That is extraordinary but a great example.

If you don’t borrow money you won’t need credit which either may not be available or may be very expensive. Here’s another quote from this wise businessowner Michael Miller:

“…we want to continue to expand our reach in all of our markets…we want to continue to grow, but not to the extent that we cannot take care of our customers. We’ve seen too many communications companies explode in growth and leave the customer behind. We want to make sure every one of our customers gets the same level of attention they get today, no matter how large we get.”

Also, Miller said:

“What we’ve done, to ensure we don’t have to borrow money, is have a very short return on investment. We try to get our money and our profit within nine months of a sale. Our competitors, historically, will go 30-48 months before they see a return on their investments and some companies even longer than that.”

So if the economy is getting you down, be encouraged by the businesses who have planned ahead. This is what carries America in these times. It’s also what will carry you. The ethics and principles this business operates by is inspiring.

Written by admin on November 14th, 2008 with no comments.
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