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  #51  
Old 07-14-2013, 10:50 PM
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SRT8 SRT8 is online now
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Quote:
Originally Posted by Efficiency View Post
What? You have got to be kidding.
I think he means for example if your a 3million dollar annual company you should have 1.5mill in the bank, not from one year but from prior years accumulated.
  #52  
Old 07-15-2013, 11:35 PM
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RSK Property Maintenance RSK Property Maintenance is offline
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Quote:
Originally Posted by RWI View Post
If you don't have half your "gross sales" in a bank account... you are not going to be around long.
starting from the beginning? I just started my business, in my second year and i should have half my gross sales in the bank? on a better note I am making lots of connections with people power boating world, not talking little lake boats, either i'm talk 35-50' v bottom boats and 50' cats with 3000hp. which will help me grow my landscaping company because they all need landscape maintenance done, and they all know people who need landscape maintenance done.
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  #53  
Old 07-16-2013, 12:46 AM
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StrokerTurbo7.3 StrokerTurbo7.3 is offline
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Quote:
Originally Posted by RWI View Post
If you don't have half your "gross sales" in a bank account... you are not going to be around long.
If this is true I'm doomed.
  #54  
Old 07-16-2013, 12:49 PM
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I'm pretty sure Brickman and Valley Crest don't have 400 mil sitting in a "rainy day" account.
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  #55  
Old 07-16-2013, 01:37 PM
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clydebusa clydebusa is offline
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Quote:
Originally Posted by Jaybrown View Post
I had 0% interest and I missed my second payment by one day because I did it online. Now my interest is 29.9% which is another $12000 I have to pay now.
That is what those type of loans are banking on!
  #56  
Old 07-16-2013, 06:35 PM
andyslawncare andyslawncare is offline
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If you saved $600/month for 3 years you could have a fully outfitted second truck...I buy used with about 60k miles 2500 trucks for $10k--have 3 of them now and you're truck is probably more total money than all 3. NO debt is the best way to do things. I could close doors tomorrow and not owe any more than that week's payroll. I do at least 12k/month in maintenance and still wouldn't pay 600/month for a truck. Personally, 50% of my 25k credit card limit is 12.5k and I would frankly be embarrassed if that was ever reached--the card has had $0.00 balance for 2 years and things are much better that way. Instead of paying the credit bill, i'm paying the savings account.
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  #57  
Old 07-16-2013, 08:46 PM
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94gt331 94gt331 is offline
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Quote:
Originally Posted by andyslawncare View Post
If you saved $600/month for 3 years you could have a fully outfitted second truck...I buy used with about 60k miles 2500 trucks for $10k--have 3 of them now and you're truck is probably more total money than all 3. NO debt is the best way to do things. I could close doors tomorrow and not owe any more than that week's payroll. I do at least 12k/month in maintenance and still wouldn't pay 600/month for a truck. Personally, 50% of my 25k credit card limit is 12.5k and I would frankly be embarrassed if that was ever reached--the card has had $0.00 balance for 2 years and things are much better that way. Instead of paying the credit bill, i'm paying the savings account.
Seems like you got a good thing rolling, keep up the good work!
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  #58  
Old 07-16-2013, 08:47 PM
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Quote:
Originally Posted by RWI View Post
A "good mowing company" pays cash for mowers. I spent 20k in mowers last year and 12k in mowers this year... cash.
You da man
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  #59  
Old 07-17-2013, 06:37 PM
RWI RWI is offline
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Quote:
Originally Posted by RSK Property Maintenance View Post
starting from the beginning? I just started my business, in my second year and i should have half my gross sales in the bank? on a better note I am making lots of connections with people power boating world, not talking little lake boats, either i'm talk 35-50' v bottom boats and 50' cats with 3000hp. which will help me grow my landscaping company because they all need landscape maintenance done, and they all know people who need landscape maintenance done.
Is it really that bad of an idea to work toward?
  #60  
Old 07-17-2013, 10:37 PM
fastlane fastlane is offline
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Quote:
Originally Posted by RWI View Post
If you don't have half your "gross sales" in a bank account... you are not going to be around long.
WOW! So for over 40 years I've been doing this wrong? I only keep 3 months of working capital (not gross) in the bank.
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