MBA2414 Q&A Wednesday: Are there any short term loan options to get us over a hump?

The $100 MBA Show

Omar Zenhom

Entrepreneurship, Business, Careers, Marketing

4.8 • 2.2K Ratings

🗓️ 10 January 2024

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are you experiencing financial hurdles in your business and weighing the options for short-term loans to overcome the tough times?
In this episode, Omar tackles the challenge of needing a short-term loan to overcome a tight financial situation. He shares practical advice and alternative strategies to not only weather the storm but also create lasting changes to ensure business sustainability.
Running a successful business is no easy feat, but with the right guidance and strategies, you can navigate the challenges with confidence. Click play!

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA show because your business needs you at your best.
0:15.0	That's why we deliver practical business lessons.
0:18.0	I'm your host, your coach, your teacher Omar's at home.
0:21.0	And today is Q&A Wednesday where we answer a question from one of you
0:24.2	one of our listeners. Today's question is from Justin and Justin asks are there any
0:28.9	short-term loan options to get us over a hump? We're in a bit of a tight situation with our business and need a small but short-term loan
0:37.0	to get us over this tough situation.
0:40.0	Do you have any recommendations, any advice?
0:42.0	Thanks. Justin, thanks for asking the question. Do you have any recommendations, any advice?
0:42.6	Thanks.
0:43.5	Justin, thanks for asking the question.
0:45.3	By the way, if you want to ask a question,
0:46.5	just go ahead and email me at Omar at 100MBA.
0:50.4	I'll make sure to answer right here on Q&A Wednesday.
0:53.0	And I'm very happy that Justin asked this question because of what it tells me.
0:57.6	I have seen this so many times, not only in my own business, but in businesses of my own friends, colleagues, other
1:05.4	entrepreneurs that have helped and the situation might seem pretty innocent,
1:10.1	pretty normal. Businesses go through tough times. How do we weather the storm? Can we weather it
1:14.6	with just a short-term loan to get us through this hump? But in my experience, nine times
1:20.4	out of ten, this is a huge red flag and getting a loan is going to make the
1:25.6	situation worse. So in today's list I'm going to give my advice to
1:29.1	Justin and what to do in a tight financial situation?
	...

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