As entrepreneurs, there are times when you have to look for sources of external funding, particularly when your business is in scale-up mode, but as a rule of thumb there are many more advantages to building a business organically and without taking on any debt. Firstly, you won't have to give away any of the equity in your business. Secondly, you won't be paying heavy amounts of interest on a loan. Thirdly, and especially important, is that you won't have to answer to an investor who's more interested in short-term financial return than in your long-term growth and goals. Instead, when it’s your own hard-earned money you are investing back into the business, you will learn to invest wisely in its future growth. Growing the business organically might take more time, but in the long run it might cost you less, not just financially, but also in terms of maintaining control. That's good advice for life in general, not just for running your own business.