The 12 Tools of Business Debtors Anonymous (BDA)

Recovery from compulsive debting begins when we stop incurring new, unsecured debt, one day at a time. (Unsecured debt is any debt that is not backed up by some form of collateral, such as a house or other asset.) We attain a daily reprieve from compulsive debting by practicing the Twelve Steps and by using the following Tools.

  1. We keep separate professional and personal financial records and bank accounts.
  2. We write annual one-year business plans with definable and accountable goals and targets.
  3. We keep clean, orderly, and accurate financial records, including Accounts Receivable, Accounts Payable, Cash on Hand, Inventory, Assets, and Outstanding Debts, and put all tax and bill due-dates on our calendar.
  4. We pay ourselves a salary including benefits, medical insurance, vacations, and sick days.
  5. We remain mindful that dollars spent should generate revenue, and we compare prices before making purchases.
  6. We maintain clarity about the overhead and profit margins of every product or service we sell.
  7. We pay our bills and invoice our clients promptly.
  8. We put all our business agreements in writing and write our own Letters of Agreement.
  9. We notice the competition but don’t worry about it. We learn from our competitors and trust that it is an abundant universe with more than enough for everyone.
  10. We separate ourselves from difficult personalities and poor-paying clients and place principles before personalities.
  11. We bookend before and after making commitments and difficult business decisions or actions.
  12. We are willing to be in charge of and responsible for our business. Professionals who work for us, such as accountants, lawyers, and consultants, are not our Higher Power.

This material is excerpted from Business Debtors Anonymous, a pamphlet which can be ordered from the General Service Office or purchased online.