Nineteen Years and a Credit Line

After 19 years, our bank's credit line has been one of my biggest business checkpoints. We entrepreneurs are all wired differently, and everybody has his or her own business compass. For all of us, the needle on that compass is constantly moving. So we have to focus on forward momentum. That momentum for me took the form of a small $20,000 business credit line that my dad cosigned with me on week one—19 years ago today.

Here are some of my thoughts on critical "checkpoints" for marketers and entrepreneurs.

Checkpoints in My Marketing Business

Though my small credit line provided some peace of mind, I was sure that I would never dip into that line. I felt I had accrued my share of debt from "expensive" experiences with earlier businesses. As it turned out, I dipped into that credit line at least 150 times, even as recently as last year.

Here's why those dips in our cashflow helped to steer my direction, decisions, and overall business philosophy:

Those little financial reality checks helped me to sync up my forward momentum with the needle on my compass. I realized over time that working harder didn't boost revenues. My forward momentum had more to do with direction than speed. Chasing down the next paycheck required a lot less vision and strategy than chasing down the 5 or 6 paychecks after that. I forced myself to think in terms of becoming viable and relevant to our clients rather than simply racing through the current project.

More of My Checkpoints:

• Transparency. Wow, this one is huge for business success. I've learned the importance of telling it how it is—to clients, partners, and employees. Being vulnerable has helped me to be more genuine. Opening up to input and criticism builds trust better than anything I've found.
• It Has to Be Fun. Life is too short to slog along. Whenever I'd mutter, "After this hurdle, I'll start enjoying things," I would stop in my tracks and remind myself immediately of my vision statement. Don't wish the hurdles away...they're not going anywhere. Figure out how to "enjoy" the hurdles. Yes, it's absolutely doable.
• Investing in People. Aside from monetary investments, I've invested in great staff members, local chambers and associations, podcasts and perspectives, and overall advice from all types of sources.
• Investing in Myself: I've learned how to check out from exhausting projects, long work hours, and laundry lists of tasks. Life balance is a lifelong pursuit, but there's no better way to fill my creative well than to change my surroundings for a quick lunch walk, a guitar break, or involvement in community and church events.
• Investing in Family: I've learned to be more present in the lives of Heather and our kids, my parents, and extended family. I cannot begin to tally the benefits that come from feeding my entrepreneurial spirit with the craziness of family events.

My forward momentum had more to do with direction than speed.

The Needle Doesn't Move when you're Standing Still. But the Needle Has to Move.

Therein lies the challenge and the opportunity—the goal is not to control the needle but rather to be able to see where it's pointing, then to adapt to its ever-changing course. Our entrepreneurial compass won't point us off course. There are plenty of distractions around us, and I've fallen prey to many of them—as I'm sure I will again and again.

What are your wake-up calls in business? How have you found your own checkpoints? Feel free to reach out to me for ideas on finding your own checkpoint as a marketer or entrepreneur. Read more here.

About Targa Media. Targa Media is a relationship marketing firm based in Salt Lake City, Utah. Our marketing services help B2B businesses connect their products with their best customers. We'll figure out what makes your audience tick, then we'll get in front of them with the right marketing tools at the right time. Known as 1-to-1 marketing, our marketing toolset helps businesses create and sustain meaningful dialogues.