Jeff Williams
speaker
368 appearances
3 recordings
1 series
first heard Jun 2026
last heard 6 Jul
Jeff Williams’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 2.
Appearances
And I don't want you to take it to zero.
I don't want you to plead all of your retained earnings.
I'm just saying, just slow down how much you're putting into retained earnings and pay as much as you can toward the debt.
I would say no.
I would pay off the debt first and then do a nice profit sharing plan after that.
Because right now, paying off that profit sharing to your team is slowing down what you can pay to get out of debt.
And I don't think your business is healthy enough to have a profit share playing if you got a bunch of debt.
I think that they need to really count the cost.
of what giving up the control of the decision making around their business really cost them.
Because it affects behavior, and that's why they do what they do in putting covenants and other restrictions on you on how much you can go spend on new trucks or how much you can pay to yourself whenever you're in those situations, banks.
Put all those limitations on you, and that affects your decision making.
It can cause you to get to where you're no longer looking long term.
It's always a short term kind of mindset, and that's an outcome of this kind of a decision of taking on debt.
And I believe it's true, whether it's bank debt, whether it's family debt or any of those other things, which I would highly recommend you not do that.
We could do that a whole bunch and it can get really messy.
But that would be my, count the cost of giving up.
You went into business on your own so that you can make the decisions on your own.
When you go into debt, you cease making the decisions on your own.
That's good stuff.
Thank you, Jeff.
Showing 81–100 of 368 · page 5 of 19
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