Duff Goldman Quotes

I have only ever borrowed money for investment. I have been sound money all my life.

I've made a payroll. I know what it's like to execute a business plan. I know what it's like to expect the proper return on investment... and I know you can't spend your way out of debt.

The economic costs of starting your own business can be significant; in fact, most new startup companies fail because of undercapitalization.

I don't like having debts. I don't like buying anything that I can't buy in cash.

With the right kind of financing, I think we can grow by 100 percent per year.

Money can make money if you're intelligent about it and don't waste it the wrong way.

I always encourage our people and young business people that I meet to have a respect for cash, keeping some in their pockets and purses at all times. To me, that's essential.

When you're a younger company, you struggle, struggle, struggle with, 'How are we going to pay the bills, and how are we going to hire people, and how are we going to get a bigger office?' Just managing the company is so hard.

When there is a situation where one does not see demand for a year or two, then capex is suspended. It will reverse only when the situation improves.

Everything we earn we need as a reserve.

I consider each business investment based on concept and revenue.

I have never had personal debt and never will.

A dollar saved is a quarter earned.

It is incumbent upon each of us to improve spending and savings practices to ensure our own individual financial security and preserve the collective economic well-being of our great society.

I used to have to beg and borrow £25 to hire some French windows. I started producing in 1967, and I was in debt until 1981. Having a think about whether you can afford 'this' or 'that' is a good discipline to have, to maximise what you can achieve to the highest standard.

I ended up buying a restaurant. Already we had invested in a gas station and a metal products plant.

With the world changing fast, we needed capital for investments. There's only so much bandwidth in your own balance sheet.

First, you should take money and have plenty of money fueling your tank. But money becomes dangerous if you assume it's going to keep coming. Make sure you can get your burn rate to a sustainable level if you hit the brakes hard, within 90 days.

If there's not enough money in the bank account, you don't spend it.

Most entrepreneurs come up with a product, or they come up with an idea and they think they can be successful with it. But if they don't know the financial side of their business and understand credit and working capital and what it takes money-wise, you can't be successful. The product is just a product.

The first aspect of a business that you need to make it work well is money. Once the money aspect is flowing, you can freely work on other aspects.

Just as water is a key ingredient to growth on the farm, capital is required for businesses to thrive.

If you only take money in the bank and never put money in the bank, you'll go broke.

The first thing you need in order to make a business viable is to preserve a cash flow. I made sure I didn't have any financial backing or support.

You will always need more capital than you think, because it will always take you longer to reach profitability than you can imagine.