How to fail part 2

[Greyst1]

Subscribed....

I believe this is a clear case of poor cash flow mgmt and very poor business practices (i.e. metrics).

I've read all your threads procut and i'm not showing any disrespect.

I'm in a very similar situation with my rental property business. They are low margin at 100% occupancy and i'm at 75% now with two remodels going on at the same time. Can't get a bank to refi (they are such crooks), my landscape biz is floating my rental prop.... Just hoping things turn around soon.

[willretire@40]

I have been told not to save your money at the same bank that you get your loans from. I think that was your only big mistake. What doesnt kill you makes you stronger.
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[willretire@40]

Also remember that most billionaires have went or was close to bankruptcy at least 3 times. Dont feel like a failer.
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[TriCityLawnCareLLC]

Good thread. Procut1, looking forward to the "next chapter"

[mowmasteruk]

Anyone contemplating starting up on their own should read this thread and PROCUT's earlier thread about failing in the lawn business. Both should be compulsory reading. I'm not meaning to stifle enthusiasm, but it's easy to get carried away with the euphoria of a seemingly successful business. And never trust the banks, they will only lend you an umbrella on a fine day. I've been there too.

[IndyEarthScapes]

Funny thing is this story is all too relatable for me. Its nice to know I wasn't alone. procut please continue cause I may get struck by lightning and it would be a shame not to have completed the story. I have insurance for that too, but it's only good when your dead
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[oOTurfmanoO]

Originally Posted by willretire@40

Also remember that most billionaires have went or was close to bankruptcy at least 3 times. Dont feel like a failer.
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Henry Ford went bankrupt 3 times before the 1st Model T rolled out.....

[Surf'n'Turf]

what toll did all this take on your home life?

[DLCS]

Originally Posted by oOTurfmanoO

Henry Ford went bankrupt 3 times before the 1st Model T rolled out.....

Donald Trump went bankrupt and now look at him. Seriously, I've seen big /small companies and individuals who I always thought had the world by the balls go under in the last two years. It happens, being in business for your self has its risks. I worry about it all the time, life is not the way it used to be.

[CircleC]

....great story teller....you should write a book, you would make more money and wont

need a loan....do I believe all of it, not chance....kinda reminds me of Glenn

Beck....doom and gloom, the sky is falling, gas will hit $7, dont put money in a

bank....there is always someone who is the "SCARE" everyone guy....good job at that...