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  #41  
Old 09-20-2011, 09:17 PM
larryinalabama larryinalabama is online now
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Quote:
Originally Posted by diamondlandscaping View Post
On the tires, yes it is free financing. On the mower, it was a $125 fee. Divide that by 36 and it's about $3.50/mo. Good for you, keep paying cash for everything. If you talk to any businessman, or finance prlerson, they will tell you 0% interest is a smart thing.
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I talk to several businessmen in our profession all the time and they are all business wise debt free and strive to be personally debt free.

Any Finance person will alaways encoruage you to borrrow money, thats what they do.
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  #42  
Old 09-20-2011, 09:21 PM
MDLawn MDLawn is offline
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I think we can all agree that a business can be run on a cash only basis and/or using special financing offers. Whatever works for your business plan. Cash is king but only if you have it stashed away.
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  #43  
Old 09-20-2011, 09:44 PM
larryinalabama larryinalabama is online now
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Originally Posted by MDLawn View Post
I think we can all agree that a business can be run on a cash only basis and/or using special financing offers. Whatever works for your business plan. Cash is king but only if you have it stashed away.
The original post asked about debt, sure you can do what you want, however for lawncare I would never advise any one to run it with debt.
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  #44  
Old 09-20-2011, 10:00 PM
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Florida Gardener Florida Gardener is offline
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Originally Posted by PTP View Post
I am a business man and I am all about paying cash. It's not only about saving the interest money but it is also about making smart decisions. Paying cash will help you make smarter business decisions. It will help you to buy only those things that are really necessary. It will also make your bad decisions less painful because you won't have your leverage working against you.

This year, I wanted to expand. The problem was that I also needed more shop space, more equipment, and more advertising. I budgeted carefully, planned as best I could, bought used equipment, built a mezzanine in my shop, and added a couple hundred new accounts.

I won't say that it was easy, but I did it - with cash.
I don't buy what I don't need. When I do buy something I need, and there is a 0% offer, I take it. I make the payments on time and don't pay the deferred interest. I have the cash to pay up front but I don't bc I would rather keep the cash in the bank.
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  #45  
Old 09-20-2011, 10:03 PM
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Florida Gardener Florida Gardener is offline
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Originally Posted by MDLawn View Post
The problem with any 0% is that many people have no idea how it works, forget to make payments, dont pay off before 0% expires, etc.... Those types get burned...bad. For this type of person cash is probably the best option (not saying anyone in this discussion, just in general).

A lot of folks in this business aren't to bright.....just attracts the type. A friend of mine who works for a bank told me stories of how a mutual friend of ours would show up at the bank and just hand over checks without even knowing how much he was depositing. He is definitely a little behind the curve but he can sit on a mower and drive a truck. This poor guy couldn't handle running a business, this is just his job. He'd probably make better money working for someone else. 0% deals are not for him.
That is why these offers are out there, bc most people get sucked in and don't make the payments or they don't pay in full at the due date. I am not one of them. Yes, most people in this biz are idiots and have no idea how to run a business. I look at them as people who can't hold a real job and become lawn boys.
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  #46  
Old 09-20-2011, 10:18 PM
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JB1 JB1 is online now
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yes I agree cash is king, but just curious are the ones preaching about cash, are these people who have problems with credit in the past or can't get credit if there life depended on it
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  #47  
Old 09-20-2011, 10:35 PM
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Puddle of Oil Puddle of Oil is offline
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Originally Posted by JB1 View Post
yes I agree cash is king, but just curious are the ones preaching about cash, are these people who have problems with credit in the past or can't get credit if there life depended on it
I'm sure the provability is pretty high.
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Originally Posted by Drew Gemma View Post
I get paid to keep the property looking good. It is not hard what we do like anything else in life, added will power, desire and the ability to look for solutions not excuses then you will succeed.
Stay focused and leave distractions for those who will fail in their ventures
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  #48  
Old 09-20-2011, 11:34 PM
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willretire@40 willretire@40 is offline
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Quote:
Originally Posted by PTP View Post
I am a business man and I am all about paying cash. It's not only about saving the interest money but it is also about making smart decisions. Paying cash will help you make smarter business decisions. It will help you to buy only those things that are really necessary. It will also make your bad decisions less painful because you won't have your leverage working against you.

This year, I wanted to expand. The problem was that I also needed more shop space, more equipment, and more advertising. I budgeted carefully, planned as best I could, bought used equipment, built a mezzanine in my shop, and added a couple hundred new accounts.

I won't say that it was easy, but I did it - with cash.
That was going to be my next point. Business is all about checking your numbers almost everyday and making smart decisions. You do that alot better with cash. I am not saying that you shouldnt use credit but I think that cash is a smarter move. Also if you save for something you appreciate it alot more. If you start of with a push mower then you will appreciate the business more and that upgrade in mower down the road.
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  #49  
Old 09-20-2011, 11:45 PM
Will P.C. Will P.C. is offline
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Quote:
Originally Posted by diamondlandscaping View Post
Yes, I do. My cc doesn't offer that so that wasn't a factor for me. I agree with what your saying as well. I'm throwing out my side of the coin bc there are a lot of pluses of using debt correctly. For someone to say, debt is dumb, or I only pay cash is somewhat ignorant IMO.
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+1
A smart businessman knows how to use debt and financing to his advantage.
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  #50  
Old 09-20-2011, 11:59 PM
tlc1994 tlc1994 is offline
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Quote:
Originally Posted by JB1 View Post
yes I agree cash is king, but just curious are the ones preaching about cash, are these people who have problems with credit in the past or can't get credit if there life depended on it
I`m in high school so I guess you could argue my opinion is completely bias since I don`t have a CC, nor could I apply for financing. All I can say is that the OP is obviously interested in how others have achieved debt-free companies, NOT whether or not "good debt" is beneficial.
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