The This is 15 minutes of freedom. I'm your host Ryan Naidel. Today, very special guest coming to us from currently South Florida.

David Pack, I'm gonna call you the guru

when it comes to business lending and funding

in ways I didn't even know where possible.

So David, thanks for being on the show. Hey thanks

for having me man how are you doing today? I'm really well like I'm admittedly I'm

fascinated by this because from you coming on the show I went through a period gosh six or seven years ago in which I had experienced immense amount of success in my life and then basically a bankruptcy right like lost, truck repossessed, cars in our houses in foreclosure, like I was making really good money and living like I was making really good money and then just made some bad decisions in business and

had I known you at some point thereafter, I might not have had to bootstrap everything quite the

same way that I've had to get to where I'm at today, but it's taught me to live without credit, but I'll move all that

stuff to decide for a second.

You've seen so many businesses come and go in front of your scope of what you do, and we're

going into that in depth.

But I always like to start by asking,

what's one lesson you think every entrepreneur should know

when they're running, starting, or growing their business?

How to manage cash flow? their business.

How to manage cash flow?

And so what that means is you might take on debt and it might seem like the cheapest

debt in the world.

Maybe it's at 3%, but if the debt exceeds the cash flow, your business is going to fail.

At the same time, if you're under-capitalized when you're starting a business, your business, you're either going to go through a really

hard time so while you're starting your business or your business is going to

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