Signs of Compulsively Debting in Business

Compulsive debting in business is very similar to compulsive debting with one's personal finances. Many of us were severely lacking in clarity. Some of the experiences and behaviors that led to compulsive debting were:

•  We neither knew when bills or taxes were due, nor did we remember if and what we had paid or still owed.

•  We confused our personal finances with our business finances and drew from one set of funds to cover the other.

•  We often did not know the exact costs of our overhead, our operating expenses, or our profit margins.

•  We had no business plan.

•  We used verbal agreements instead of written ones, which led to disputes later over the terms of the agreement.

•  We overcommitted our time and did not spend enough time generating revenue.

•  Many of us were overwhelmed by clutter.

•  We lived in a state of self-deprivation for the sake of our business.

•  We did not pay ourselves a salary.

•  We did not take vacations, provide ourselves benefits, or grant ourselves any personal and sick days.

•  We undervalued and underpriced our goods and services.

•  We allowed professionals who worked for us (e.g. consultants, accountants, lawyers, etc.) to run our business life.

•  In relapse, we missed BDA and/or DA meetings, and lost contact with our sponsors, pressure relief group, and friends in the program.

•  We did not or were unable to ask for help when we needed it most.

Reprinted with permission, as group #252, from "Business Debtors Anonymous," Debtors Anonymous General Service Board, Inc. © 2001

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