Brad Hart (solo speaker) advises viewers to build both personal and corporate credit early—forming LLCs/S Corporations lets businesses access substantially larger lines of credit than individuals. He argues that having credit available (even if not used) enables hiring, investments, and acquisitions; he cites leveraging over $1,000,000 in corporate credit through his main LLC across 12 years as evidence.
Chapters
So you probably have personal credit, but what about corporate credit? No. Okay, let's go back in time and help you say you're 14 years old. You're going to start learning about credit and how critical it is for you, both personal credit and corporate credit. As you start getting companies, LLCs, S Corps, you can start building corporate credit. You can get millions of dollars of lines of credit this way. This gives you access to tons of cash. And in business, you want to have access to money whether you use it or not. That's not the point. You want to have it available for good opportunities. Most good business people are conservative and don't use it. And they're smart that they want to have access in case they need it. When an investment or another opportunity comes up, they want to hire somebody, they have the money. If they want to invest it, they have the money. If they want to take on a competitor and buy their company, they have the money. After 12 years with my main LLC, I've been able to leverage over a million dollars in credit in the name of my company to do various things. And this opens many doors to you when you have this type of money available to you. And they're willing to give companies way more money than they are individuals. So this is why building your credit as young as you can is important. It could be worth millions as you grow your businesses.