For all of us heroes on the journey, the road continues to be rocky and unpredictable. At this point, it’s a wonder how we’re still hanging on, economically speaking and otherwise.
Like others, we’ve got a few things on our radar this month:
- When several leading economic indicators show declines for an extended period, it’s usually a telltale sign of an incoming recession. The LEI has declined for two years straight at this point, and somehow things are still peachy keen (at least on the outside). We had a blip into positive territory in February, which some cheered over, but we went right back into the negative in March and April.
- Higher interest rates continue to slam consumers. Aggregate debt delinquency rates are the highest they’ve been since the pandemic, and the trend is worsening.
- A big chunk of maturing corporate debt is coming in 2025 and 2026. If interest rates don’t come down by then, it’s going to be an issue for companies with leveraged balance sheets, especially the little guys.
But doom and gloom isn’t the main focus of our chat today. Instead, our focus is on the actual journey itself, and why we at Dare Capital keep it front and center.
To paint the perfect picture, we have to zoom our focus in on my amazingly talented partner, Debra Zukonik.
The Grit of a Grizzly Bear
At the most recent IFA conference, Debra received a lifetime achievement award for her incredible contributions to the factoring industry. It was very much a full-circle moment for Debra, as the award honors the now deceased Bert Goldberg, founder of the IFA.
Bert started the IFA as a users group for a software company he headed up. Debra herself recently co-founded our new software venture, NN6.
Long before the present day, Debra didn’t just step lightly on the hero’s path. She fully embraced it, committed, and never looked back.
Decades ago, one of Debra’s first factoring clients was a bit of a crazy investment. The startup she ran along with her siblings had little experience and even less money. At the time, they had yet to bill a single invoice.
But as every hero knows, it’s only when you take the next step that the solution appears. That crazy investment was the catalyst for a lifetime of success. Their business ultimately grew from those risks. They now do roughly $1.8M in invoices monthly and still thank Debra to this day for how she helped when nobody else would.
Returning with the Elixir
The hero’s journey is a cyclical one, and Debra’s own journey allowed her to bring back valuable insights with every lesson learned.
Her learning journey provided her with the elixir needed to get NN6 off the ground. Through reverse engineering and first principles thinking, we now have a cutting-edge product that mitigates risk and allows real-time access to data, which used to be extremely opaque.
At Dare, we try to only do good deals, which is a philosophy Debra holds near and dear to her heart. Her tenacity as a good underwriter and collector are unmatched, all the way back to the old days. Just ask her about the time she flew to NYC, bought a baseball bat and collected $85,000 in cash! True story.
With a strong commitment to excellence and the grit of a grizzly bear, choosing Debra as a partner was a no-brainer.
Debra is the ultimate professional, committed to her word with a dogged pursuit of what is right in her mind. She is relentless in vetting risk, something I myself have learned through harrowing experiences is what’s really important in this business of factoring.
Debra is the all-important brake for the car. Most CEOs (myself included) are a gas pedal. This combination is why Dare’s Back Room Service and NN6 are so powerful.
It’s All in the Giving
What makes you believe in people? Our purpose at Dare is to give our best, and it’s baked into our very name.
Dare in Latin literally means “to give,” and Debra embodies this in her commitment not only to her partners, but to the general factoring community.
From the classes she’s taught at the IFA to serving as the finance chair of the AFA since its founding in 2009, Debra fully embraces the spirit of a natural giver.
Outside of work, Debra excels as a semi pro pool player. As a dedicated Christian, she has fostered and given life to many abandoned children in her community. Like a true hero on the journey, in her downtime, she continues to live life to the fullest. Debra enjoys her days in a small ranch in deep East Texas, with her loving husband, Patrick.
Long-term relationships are what make the world go round, and not without trust and giving. Debra is truly one of a kind and exactly the type of hero we need to keep this ship sailing through whatever comes our way.
If you’re looking for a partner who dares to trust, empathize and listen to your ideas, and work alongside you to make your long-term goals a reality, we’re here.
Through our Back Room Service, you’ll get access to:
- Greater Income (like a lot more)
- Owning assets instead of commissions
- Zero investment down
- No personal liability
- Fifty-fifty split on risks and profits
- Portfolio management software from NN6, LLC
Eager to learn more? Give us a call.
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Until next time,