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LawnSite and Landscape Supply Give Away

Discussion in 'Lawn Mowing' started by Sean Adams, Feb 18, 2005.

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  1. Sean Adams

    Sean Adams LawnSite Gold Member
    Posts: 3,597

    Dear Members,

    It is time again for another great give away from LawnSite. This give away will be in conjunction with Landscape Supply - one of our sponsors.

    We will be giving away a Brand New RedMax String Trimmer BCZ600s. The retail value of this piece of equipment is slightly over $300.

    Like most other give aways from the past, you will need to participate in order to be eligible for the trimmer. A question will be asked and everyone can provide one response. After 30 days or so, Travis from Landscape Supply, and I will choose the best answer and announce the winner.

    HERE IS THE QUESTION. . .

    If you had the chance to be debt free (truck(s), equipment, trailer, etc.) and only net $20,000 for the next two years (net meaning your salary plus the profit of the business) would you do it? Why or why not?
     
  2. TClawn

    TClawn LawnSite Silver Member
    Posts: 2,036

    I would not do it. the reason is that I am already debt free. I have tried to make it a point to stay out of debt.

    that way, I am only working for myself. I do NOT want to be working to pay off a mower or truck.

    being debt free also causes less worry. (I.E. if I lose an account, am I going to be able to pay my bill this month.)
     
  3. marko

    marko LawnSite Senior Member
    Posts: 963

    No way. Why limit yourself? I think this would lead you down the road to being slack and lazy (why bust your butt if your only going to make a certain amount of money?). To be motivated you must have a reason to get out and improve your business. If that means doing it for the love of the job, or getting it done because you have bills to pay, at least your motivated about something. Thats the wonderful thing of being self employed, the sky is the limit.
     
  4. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569

    Sean just to clarify is it a RedMax BCZ600s as you listed or a BCZ2600s?
     
  5. Toy2

    Toy2 LawnSite Bronze Member
    Posts: 1,924

    Sean and Travis,

    I would do it, it is not about the money, if it was you would be trying to invent something or create the perfect software or wish you owned EBay.

    It comes down to the freedom, you call your own shots, you make it what you want it to be. You walk away knowing you did that job or jobs to the best of your ability, that is what separates the men from the boys.

    I can understand how some people wish you could have the entire market and dominate the landscape world, be the next Cingular, drive the baddest trucks and have the best equipment, but in the end a truck is a truck and a mower mows!

    You can only cut one lawn at a time!

    Enjoy life folks, because it is, so very short! :)
     
  6. riches139

    riches139 LawnSite Senior Member
    Posts: 369

    No.
    20,000 net wouldn't pay the regular bills even if you were debt free. :waving:
     
  7. dvmcmrhp52

    dvmcmrhp52 LawnSite Platinum Member
    from Pa.
    Posts: 4,205

    No.
    Financing when used wisely is a great tool for growing a business.
    Being "debt free" may sound like a wonderful place to be, and at a time when you've grown your business to a satisfactory point and the income produced is sufficient for "cash" buying it may be a comfortable position to be in,
    however the pros of limited debt almost always outway the cons from a small business standpoint.
    A $30,000 piece of equipment could certainly produce more than the $20,000 of net you speak of, but why would I want to limit myself to waiting until I have that $30,000 on hand to produce that extra income?
    A wise business owner once said " why use your own money when you can use someone elses?"

    Financing is a part of business, the key is to use it WISELY.
     
  8. dvmcmrhp52

    dvmcmrhp52 LawnSite Platinum Member
    from Pa.
    Posts: 4,205

    Just a note.............
    I'm not interested in the trimmer, I just thought it would be fun to stick my 2 cents in.
     
  9. stumper1620

    stumper1620 LawnSite Bronze Member
    Posts: 1,889

    NO!
    that will kill my 5 year plan, the plan plainly says "min. 20% growth" over this next 2 years, I would not allow myself to be held back for anything like that.
    my current level of debt is included in the growth figures so it will be paid off within that 2 year period.
    It's my plan and I'm sticking to it. :cool2:
     
  10. Bushwhacked

    Bushwhacked LawnSite Member
    Posts: 38

    Is that $20,000 per year for the next 2 years, or $20,000 total for 2years averaging $10,000 per year? This is very vague question. I like the debt free part but why would I be limited in what I can earn, that's part of the attraction for being self-employed, unlimited potential income ?
     
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