Business Loans: Are They Necessary Or Debilitating

You're a moron if you take out a business loan.

According to Mark Cuban this is the case and I would have to agree with him. The truth is if you can't figure out how to grow your business with good ol fashioned ingenuity than you may not have the spirit of an entrepreneur. Instead of thinking like the government and throwing money at an idea try to figure out how to make your business grow using the resources you have, i.e. relationships, your network, and out of the box thinking.

If your idea sounds stupid then TRY IT! Fred Smith, the founder of FedEx, was told by his professor at Yale that his idea of overnight delivery was not logistical and would not work. I wonder how many BILLIONS FedEx has made since then. Get creative with your business and creating a successful revenue model and perhaps one day your business will thrive. Now to be clear, I'm not saying to stay away from investors. Having people invest in your business or even business idea has nothing to do with the topic of a business loan. You MUST pay a loan back win or fail. No one will invest in you unless you have a great plan, and if it does fail investors do not get a refund.

David Azua: www.davidazua.com