Just maxed out the credit card at $25k and I’m not sure what to do next.
My spouse doesn’t see why I would even consider continuing when I’m still not turning a profit. But, I have a vision for this company and I want to see it through. I’ve run the numbers a million times and can see the road to profitability. The market is there as well.
She’s getting in my head though and quite frankly, I’m a bit scared of the debt I’m mounting up. Not sure what to do.
Anyone else been in this situation?
I'm all for determination when it comes to working the plan, but one thing I learned (painfully) is how important it is to separate emotionally and weigh the chances of success in a logical and unbiased manner.
In gambling they have a thing called "throwing good money after bad". Once you've tossed good money into the pot, it's tough to walk away, but you have to when the odds of winning get too low.
I'm not suggesting you cut your losses, but definitely be certain that you're not making an emotional decision to continue the same path.
Great advice!
Listen to your spouse. If you really want this, find investors.