Hey guys! Just had a realization about how credit really works, and I think it's something every aspiring entrepreneur should know! So, Iโm about to dive into my CA studies, and while doing some pre-study research, I came across some pretty crazy insights about credit. Hereโs the big takeaway: credit isnโt just for taking loans or paying bills โ itโs actually a powerful tool you can leverage in all kinds of ways, like launching businesses, making big investments, and scaling up projects. Think about this: when Elon Musk bought Twitter, do you think he used only his own cash? Nope! He built his portfolio, showed proof of assets, and used credit to fund a massive acquisition. Thatโs how top players move. And yes, itโs risky โ but with the right knowledge and a strong gut, itโs a game-changer. Now, hereโs what Iโm learning about using credit effectively: 1. Know Where Youโll Invest โ Before you take any loan, be clear on where youโre putting that money and the potential returns. Every decision should have a strategy behind it. 2. Choose Your Lender Wisely โ Whether itโs a bank or other sources, find out whoโs offering you the best deal. Consider factors like interest rates, repayment terms, and flexibility. 3. Set the Right Time Frame โ Time is everything. If youโre borrowing, make sure youโre prepared to pay it back within the terms, regardless of cash flow. The lender doesnโt care if your plan works out or not โ they just want their money back on time. If youโre driven, informed, and a bit bold, using credit can be a smart way to fuel your goals. Just remember, the more prepared you are, the better you can handle the risks involved. Let me know what you think โ is this a strategy youโd be open to trying? Drop a comment below! Donโt judge me for just including all of this in very small words or sentences. I just framed it in a condensed way. If you want to see this in more detail, let me know.
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