Two years ago, I was sitting in a Panera pouring my heart out to my pastor. At the time, we owned a business and it was failing. I wanted someone to commiserate and pray with.
In late 2012, my wife and I decided – after what we thought was thorough planning and much advice and prayer – to open a business. It took nearly all our savings (bad idea) and a $250,000 Small Business Administration loan to get the doors open, but in April 2013, we took our first customers.
Business took off right away! By the end of the first month, we were one of the top franchisees in the system. Revenues were ahead of our projections, but so were our expenses. It was truly amazing how fast we were burning through our cash reserves!Continue reading