Signs of Compulsively Debting in Business
Compulsive debting in business is very similar to compulsive debting with one's personal finances. Many of us were severely lacking in clarity. Some of the experiences and behaviors that led to compulsive debting:
1.
We neither knew when bills or taxes were
due, nor did we remember if and what we had paid or still owed.
2.
We confused our personal finances with
our business finances and drew from one set of funds to cover the other.
3.
We often did not know the exact costs of
our overhead, our operating expenses, or our profit margins.
4.
We had no business plan.
5.
We used verbal agreements instead of
written ones, which led to disputes later over the terms of the
agreement.
6.
We overcommitted our time and did not
spend enough time generating revenue.
7.
Many of us were overwhelmed by clutter.
8.
We lived in a state of self-deprivation
for the sake of our business.
9.
We did not pay ourselves a salary.
10.
We did not take vacations, provide
ourselves benefits, or grant ourselves any personal and sick days.
11.
We undervalued and underpriced our goods
and services.
12.
We allowed professionals who worked for
us (e.g. consultants, accountants, lawyers, etc.) to run our business
life.
13.
In relapse, we missed BDA and/or DA
meetings, and lost contact with our sponsors, pressure relief group, and
friends in the program.
14. We did not or were unable to ask for help when we needed it most.
Reprinted with permission, from "Business Debtors Anonymous," Debtors Anonymous General Service Board, Inc. © 2001