No doubt that credit is an important tool for business, but the farther you can go without using it, the better off you’ll be. Seth Godin, the guru of  permission marketing and one of the most perceptive observers of change in our business environment has re-released a concise “manifesto” based on his 1998 book “The Bootstrapper’s Bible”. This free 103 page PDF file at ChangeThis.com is full of ideas for stretching your resources as far as possible.

Avoiding credit is about more than just avoiding the cost of debt service. When the time comes and you do need to borrow, the banker or potential investor, no matter how angelic, is going to want to see that you’re also invested in the project. They want to see that you have “skin in the game”, and they’re going to recognize that if you’re careful and productive with your own money, chances are that you’ll use theirs well, too.

There are many balancing acts involved in starting a business, but none more critical than managing the cash flow. The ideas in this little publication will help establish your skills in this important area.