PDA

View Full Version : One flat broke!!


amfine1996
11-18-2008, 02:46 PM
I haven't seen much on here about debt. I don't like using credit. Just wanted to see what other people think. I think a lot guys out there are one flat tire from the BK!!

Steve
11-19-2008, 09:24 AM
That is a very good point.

I think a lot guys out there are one flat tire from the BK!!

What is your thought on this? How did they get to this point and how should they resolve it?

What advice do you have for newer lawn care business owners?

amfine1996
11-24-2008, 08:39 AM
I think a lot a guys veiw a LCO as a way to pay for thier toys, I guess that's alright if you want to work two jobs just to have nice stuff! But as a business model you have to grow your it slow and pay as you go. Also I think some panic and think if I don't get that "thing" or that big account it's over. There will always be grass to cut, so just take your time and pay as you go. I started for less than $6k, that included a truck (87 GMC 500.00) a trailer ($1k) a exmark 60" mower (3500.) various tools 500. I have grown sence then and upgraded on the truck (2001 silverado). I had to borrow on the truck but everything else is paid for. its a great relief to not have a big hairy payment due during the winter months!

amfine1996
11-24-2008, 02:08 PM
I thought this subject would provoke more Discussion, interesting...

Steve
11-24-2008, 03:18 PM
I thought this subject would provoke more Discussion, interesting...

I think it is a great topic. Many times forum members tend to want to read only. That's fine with me as long as they are learning :)

I think a lot a guys veiw a LCO as a way to pay for thier toys, I guess that's alright if you want to work two jobs just to have nice stuff! But as a business model you have to grow your it slow and pay as you go. Also I think some panic and think if I don't get that "thing" or that big account it's over. There will always be grass to cut, so just take your time and pay as you go. I started for less than $6k, that included a truck (87 GMC 500.00) a trailer ($1k) a exmark 60" mower (3500.) various tools 500. I have grown sence then and upgraded on the truck (2001 silverado). I had to borrow on the truck but everything else is paid for. its a great relief to not have a big hairy payment due during the winter months!

I think many business owners do fall into this trap. Where do you think you learned how to manage your money so well? Do you have any favorite shows or books that deal with money management?

If you could start all over again, what equipment would you get initially?