Dan Martell - December 10, 2023


Ask for money when you don’t need it.

Hosted by
Dan Martell
You spend money and time on your business, why not on your family. Should you go back home for the holidays？

Episode Stats


Length

53 seconds

Words per minute

247.03

Word count

222

Sentence count

10


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about how important it is to have access to capital, especially when it comes to your expansion plans. If you need a line of credit to get your business off the ground, this episode is for you.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 you talk to Elon, he would tell you the money that came into PayPal, if it would have been one day
00:00:04.680 later, PayPal would have never existed. My rule is ask for money when you don't need it. Every time
00:00:10.220 I've exited a company and I've got a windfall of cash, I call my private banker and every other
00:00:16.140 bank. And I say, hey, I want a line of credit. Why do you need a line of credit? Because I've
00:00:19.960 got these massive expansion plans and I don't know when or how, but I don't want cashflow to
00:00:24.520 be an issue. I want a line of credit. How much would you like? And I go $5 million. And I want
00:00:29.400 to negotiate really great interest i have a line of credit right now it's like half a percent i
00:00:33.640 literally have bank accounts with all my banks and massive lines of credit all over the place
00:00:37.940 that way if for whatever reason somehow i ever got myself into a pickle i have access to capital
00:00:43.020 because a long time ago when i was 24 years old and i was starting my business and i had a cash
00:00:48.500 flow issue and i went to the bank to get some money guess what they said to me no and i said
00:00:53.100 Thank you.