How I Got My Business Into and Out of £150k Debt | Ep 03

In my second solo episode, I share one of my biggest mistakes in business and how I managed to get myself into £150k without knowing about it. I am going to give you a very frank and open breakdown of what I consider to be one of my biggest failures in business and what I learned.This is, in my opinion, one of the most important lessons need to learn as a business owner. I’ll discuss:My fears around money and debt.How I ended up in £150k in debt.One of the most important things most SME company directors don’t know that could get them into legal and financial trouble.How knowing my numbers helped my business when Covid struck.How my understanding of my business finances helps me in my personal life and helps me sleep at night.How challenging doing your business finances can be.The three financial reports you should be looking at on a regular basis as an entrepreneur.How often you should be looking at them.The first thing you should do in a financial crisis as a business owner.Key Learnings:If you don’t understand your business finances you are at serious risk of going out of business.Like this show? Please leave us a review here. ***Jeremy Jacobs is an experienced entrepreneur, business consultant, and mentor. He started his career in digital marketing, managing multi-million-pound campaigns for well-known global brands. He left that career to start 2 businesses including a food manufacturing company with his Mum which ran successfully for 13 years. He now works as a mentor and consultant for a wide range of businesses including start-ups and solo entrepreneurs through his marketing and management consultancy, Cookie Jar Consultancy. He has an MBA with Distinction from the University of Sussex. He is proudly neurodivergent and a member of the LGBTQ+ community. He lives in Sussex with his partner and their two dogs.Personal website: https://jeremyjacobs.co.ukCookie Jar: http://cookiejar.info/social media accounts: LinkedIn: https://www.linkedin.com/in/jeremyjacobsuk/Instagram: https://www.instagram.com/jeremyjacobsukFacebook: https://www.facebook.com/jeremyjacobsuk Hosted on Acast. See acast.com/privacy for more information.