In this episode, we respond to an email from a woman who wanted to know when to give up on a trucking business she started with her husband. The conversation covers topics such as faith, confidence, financial planning and finding the right partners, and we provide advice on calculating the cushion needed to support the business, as well as the importance of psychological resilience in entrepreneurship.
This episode explores the differences in the role credit cards play in personal and business finances, highlighting the potential risks and challenges of relying on credit cards for business funding. It emphasizes the importance of financial planning, business support systems and having a larger cushion in retirement savings.
The conversation also explores finding alternative sources of income, such as side gigs that align with skills and goals. Building relationships, networking, and normalizing backup plans are discussed as essential strategies for entrepreneurial success. The episode concludes with a focus on navigating financial stress and how gender norms affect the relationship dynamic.
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