Celebrate After The Win
Chris and his wife bought a franchise. She wants to take a small cruise vacation before they start the business. Dave doesn't think taking a vacation right now is a good idea.
QUESTION: Chris in Nashville and his wife bought a franchise. They'll start January 3. She wants to take a small cruise vacation before they start the business, because they won't be able to do much for a couple of years. Dave doesn't think taking a vacation right now is a good idea.
ANSWER: If she realizes that you're down to running out of money and having to close the business because you guys went on a cruise, I think this is unbelievably unwise. I'm sorry. You're trying to open a business and run a business, and every dollar of that cash may mean your survival. Later, it will either be the end and you'll close it before you go into debt because you ran out of money, or you'll start making some money and you can go on a cruise. But right now, you're unemployed and have $35,000 to start a business with. This is not the time to be spending $3,000 on a cruise. You don't celebrate before you've won. You celebrate after you win.