One of the secrets to getting things done in business (and in life) is to set goals… to set objectives… to hone in on a specific target.
It's amazing what having a goal can do to help you make things happen in your company.
What are your top three goals for this quarter? What are your top three goals for the coming six months?
Is paying down debt on that list?
Too many businesses lose sight of the importance of bringing down debt.
Reducing debt helps reduce risk. It makes it easier to deal with a difficult economy. It reduces the amount you and your family are on the hook for personal guarantees.
And step one to making that happen? You guessed it, setting a goal to reduce the amount of debt you're carrying in your company.
Over the next couple weeks, give some thought to the benefits of reducing your debt load. And put some thought into how much you could reduce debt over the next six months without dramatically altering your growth and improvement goals.
After you set that goal, send me an e-mail about the objective you've set to reduce your debt.
I'd love to see your goal!