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.
Join the Contractor Momentum Lounge FB group: https://www.facebook.com/groups/896216427196514/
- 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