EPISODE 274

Growing your business without credit cards or loans

 

---

Today’s podcast episode is a topic that doesn’t get talked about enough in the online business world.

How to grow your business without getting yourself into debt.

It’s honesty month here in Lucky Bee land, so let’s be honest…

There’s a lot of pressure out there to:

• put things on credit cards
  
• join expensive masterminds
  
• build fancy websites
  
• create courses with huge production budgets
  

And sometimes it’s presented as the only way to succeed.

But that’s simply not true.

In this episode, I’m sharing how I built my business without loans, credit cards, or outside investors, and the mindset shifts that helped me stay in control of my money.

We talk about things like:

• Why “build it and they will come” can get you into financial trouble
• How to fund upgrades in your business using sales instead of debt
• Why your first version of something doesn’t need to be perfect
• The trap of expensive masterminds, apps, events and shiny upgrades
• How to focus on income-producing activities first

Sometimes the most powerful move in business isn’t spending more money.

It’s getting into action and making the sale.

If you’ve felt pressure to spend money you don’t actually have to grow your business, this episode will feel like a breath of fresh air.

xx Denise

P.S. If this episode hit home, it might be time to get honest about where you actually stand with your business numbers. The free Mid-Year Money Reset will help you take a clear look at your income, expenses, and any debt you've been avoiding. Sometimes just seeing it clearly is the first step. Click here to download your copy.

---

 Prefer to read?

Here is the transcript for this episode:

Hey gorgeous. Today's episode is all about growing your business without going into debt, avoiding expensive mistakes, and remembering that you don't need everything to be perfect before you start.

Before I dive in, a disclaimer: I'm not a financial advisor or an accountant. This isn't financial advice. What I can share is my experience, my mindset around debt, and the lessons I've learned building a multi-million dollar business without relying on business loans or credit card debt.

I have a complicated history with debt.

In my early twenties, I was terrible with money. I bought a laptop on a high-interest finance plan without really understanding what I was signing up for. I ignored credit card statements, avoided dealing with money, and spent years carrying debt because I didn't know how to manage it properly.

Later, when Mark and I got married, we accumulated debt there too.

Eventually I made the decision to get out of debt, and once I focused on it, it happened much faster than I expected.

That experience shaped how I approached business.

When I started my business, I knew I needed to be careful because I understood how easy it was for me to rationalise debt.

Apart from one personal loan I took out to join a mastermind in my first year of business, I've funded everything through cash flow.

That choice wasn't necessarily because it was the only way.

It was because I knew myself.

I've watched a lot of entrepreneurs create enormous stress by taking on debt too early.

The two biggest traps I see are:

• Expensive masterminds and coaching programs
• Conferences and events

I've seen people put high-ticket programs on credit cards because they were convinced it would change everything.

I've seen people run events that lost significant amounts of money and left them with huge financial pressure.

And often the emotional burden is even heavier than the financial one because it comes with guilt, shame, and embarrassment.

The truth is, there are usually slower and safer ways to build.

One of the biggest mindset shifts I've adopted is this:

Fund your business through customers.

If you want something in your business, ask yourself:

How many sales would I need to make to pay for it?

For years I did this with Money Bootcamp.

If I wanted something, I'd calculate how many memberships I'd need to sell to comfortably pay for it.

That simple question keeps you focused on revenue-generating activities rather than looking for shortcuts.

Because sometimes debt isn't funding growth.

Sometimes it's helping us avoid the uncomfortable work of selling.

It's easier to buy another course than send a sales email.

It's easier to redesign your branding than make an offer.

It's easier to plan than launch.

I've fallen into those traps too.

I bought merchandise years ago because I thought successful businesses had merchandise.

I invested in things that felt exciting rather than necessary.

Many entrepreneurs believe they need:

• The perfect website
• Professional branding
• Expensive photography
• An app
• Fancy software
• A luxury mastermind

Before they can really grow.

But often those things are distractions.

The real question is:

What's actually going to help you make sales?

Sometimes the answer is:

• A simple offer
• A sales page
• An email
• A conversation
• A follow-up

Not a complete business makeover.

I've also learned that production value has diminishing returns.

People often see polished online courses and assume that's the standard.

For example, my Sacred Money Archetypes course cost a significant amount to produce because it contained multiple pathways and extensive content.

But the first version of Money Bootcamp was incredibly simple.

And honestly, that's how most successful products begin.

The first version isn't supposed to be perfect.

It's supposed to exist.

Every version after that improves because of real customer feedback.

You discover:

• The questions people ask
• What works
• What doesn't work
• What needs expanding

You can't know those things in advance.

That's why perfection is often wasted effort.

Progress teaches you things that planning never will.

Technology makes this easier than ever.

When I started online, creating a website cost thousands of dollars.

Video production was expensive.

Editing was difficult.

Today you can build incredible things with:

• A smartphone
• Basic lighting
• Simple software
• Affordable tools

You don't need the expensive version immediately.

You can start small and upgrade over time.

That's actually how most sustainable businesses grow.

Another lesson I've learned is that not every upgrade is worth the money.

A perfect example was my money-tracking app.

I built it because it seemed like the thing successful entrepreneurs were doing.

It looked impressive.

It felt exciting.

But years later it became a maintenance headache that created ongoing customer service issues.

Eventually I retired it and felt immediate relief.

Sometimes we invest in things because we think they'll be transformational.

The expensive mastermind.
The luxury retreat.
The exclusive event.
The dream location.

And occasionally those experiences are wonderful.

But they're rarely the magic solution we imagine.

I've met people who spent huge amounts on experiences expecting them to completely transform their business.

What they usually discover is that the real work still has to be done afterwards.

No event can replace:

• Consistency
• Sales
• Marketing
• Follow-up
• Action

One of the best questions you can ask before spending money is:

Will this directly help me grow my business?

Sometimes the answer is yes.

Sometimes it isn't.

And learning the difference is incredibly valuable.

I also think it's important to review where money is leaking from your business.

Ask yourself:

• Is every expense necessary?
• Is every team member contributing meaningfully?
• Are there subscriptions you're not using?
• Are there costs you've stopped questioning?

Sometimes the easiest way to improve profitability isn't making more money.

It's spending more intentionally.

And finally, if you need money in your business, focus on sales.

Share what you know.
Make offers.
Follow up.

Most people don't do enough follow-up.

The fortune really is in the follow-up.

People often assume silence means no.

Sometimes it simply means:

• They're busy.
• They forgot.
• They need another reminder.
• They haven't made a decision yet.

Before taking on debt, ask yourself:

Have I genuinely exhausted the opportunities already available to me?

Have I followed up?

Have I made enough offers?

Have I asked enough people?

Have I sold enough?

Because often the answer isn't another loan.

It's another conversation.

Another email.

Another offer.

You don't need everything to be perfect before you grow.

You don't need fancy branding, expensive masterminds, luxury retreats, or a huge budget.

You can start messy.

You can improve as you go.

You can fund growth incrementally.

And most importantly, you can build a profitable business without creating unnecessary stress and debt along the way.

Remember: there's always more money available.

Focus on serving people, making offers, and taking action.

The rest can come later.