Thread: Loans?
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Old 10-24-2012, 06:16 PM
larryinalabama larryinalabama is online now
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Join Date: Jan 2008
Location: Ragland Al
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Quote:
Originally Posted by CL&T View Post
The problem is is that you are a pessimist not an optimist. You believe that the probability of failing is better than that of succeding and you are terrified of failure. An optimist would not be afraid to take calculated risks, is not afraid of failure and would be prepared with ways to mitigate the damages should that happen. That's the description of a savvy business owner.

If he was going to finance, expand, etc. he would be sure that he had the reasonable expectation of future income to cover the costs. That's just common sense. Financing equipment with the hope of getting enough business to cover the cost is like buying a lottery ticket then buying a new car in the hope it will pay off.
Im neighter a optimist or a pessimist, Im a realist. I plan to succedd and in my solo theres no need to take the risk of borrowing money, I have enought paid for equiptment to run another crew as well as start a landscaping crew also. Its also possible that a long drout can happen anytime, and the bank doesnt really care. So with that being said Im better prepared for anydownturn far better than my compediators.

If a business is profitable, it makes sinse to "reinvest" a portion of the profits if you want to grow your business. At some point in time in everyones life and in every business the idea will be to make money that is real hard money that eventually will go to your children.
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