February 10

#53: Cash vs Debt – Funding The Growth of A Home Service Business

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Contractor Momentum
Contractor Momentum
#53: Cash vs Debt - Funding The Growth of A Home Service Business
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The general consensus about debt is that it’s bad. I do agree with it when it comes to personal finances, but in business finance, it may not always ring true. In this episode, I talked about how debt can be a tool to scale your business.

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00:08 Introduction

  • How debt can be a good thing in relation to business finance
  • Are home service businesses cashflow intensive?
  • Difference of cashflow in residential compared to commercial home service business

04:05 Debt as leverage

  • Leveraging gains or leveraging losses with debt
  • When should you consider using debt to leverage your profits
  • Financing for smaller businesses for operational needs of business

10:03 Insights on the phrase, “use other people’s  money”

  • When does it work

12:16 Where to use leverage to scale your business

  • Ideas for financing
  • Advantages of fleet vehicle replacement
  • Financing a facility

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