Hey, welcome to the 100 R. M. B. A. A. A. A. A. A. A show powerful business Lessons You Can Count on in just 10 minutes.

I'm your host, your coach, your teacher Omar's at home.

I'm also the co-founder of Webinar Ninja, an invented software company I started with my co-founder back in 2014.

And in today's lesson you will learn why you should always bootstrap your first business.

This is my personal advice from my own experience and what I've learned being around so many

entrepreneurs in the last 20 years.

Taking on a loan to fund your business or even taking on an investor means you're taking on debt.

It's pretty clear when you take a loan from a bank that that's debt or you're using

credit cards or whatever it might be, but also if you're getting an investment

from an investor you're indebted to the investor to give them a ROI.

They are expecting a return on investment.

And the reason why I'm not a big fan of doing this for your first business is because this is not the only debt you'll have to deal with.

I'll explain in today's episode.

What I want you to do instead is build a business on your own wits, on your own money that you can afford to lose because feeling the pain of losing

that money is important and you will lose money. This is going to happen, okay? But it's going to help

you learn how to run a fiscally responsible business.

I'm going to break it all down in today's episode and show you some of the options that you can

look into when it comes to funding your first business without taking on debt or investors.

Let's get into it.

Let's get down to business.

Now I mentioned at the top of the episode that when you take on debt,

whether it's a loan, credit card, whatever it might be, or even an investor

...