I’m gonna have about 3k to invest into my business shortly…Now, considering it’s almost Mid-August here in Upstate New York, things will start to slow down. What would YOU invest in to make your 2018 season kick butt? You have a a few choices:
- A kick butt Pure Water System to take advantage of some high end Residential and multi story Commercial?
- A kick butt pressure washer to upgrade your house washing setup?..because house washing is HUGE here!
- Sit on the money?..Build up that account balance to help with your credit standing…Because once you start booking jobs in the spring, you can get those things in no time.
- Something else entirely?
Tools are a nice option, but don’t put too much stock into them. A lot of times we get these nice toys but the work is not rolling in. Make sure you have what you need to survive the slow winter season. Put money into the biz and in your pockets. If you think you need a WFP or pressure washer for a busy fall season, have you considered financing? When it comes to buying the bigger ticket items I like the options of financing. Even though I have plenty of funds in the biz account I often purchase tools with PayPal credit. Last spring I finance a new iMac. Little money out of pocket and able to use funds on other things like payroll, taxes, yada yada yada.
Saving for slow times is mitigates risk. If you have an older vehicle that likes to $urprise you with trips to the shop it sure is nice to have savings.
Investing in something that could generate revenue in the winter is another option.
Personally, I’m leaning toward the saving money option. Simply because the slow winter season will be here before we know it. Financing…long story short…tried it, but thanks to the Ex-Wife…my credit took a hit. Slowly building it back up, but she left me out to dry…Maybe I should look into PayPal credit…could be an option.
Pretty set on the vehicles…but building the savings is probably the way to go…I was going to offer snow removal…but I am pretty set on what would need there.
id write down a list of the options and then decide to do none of them. then think of something different and go with that
Well…I have had my eye on several new guns But…that would not be very business savvy…right?..Maybe?..Haha!
Lol a true entrepreneur’s business plan
Inventory what you have - be very sure pricey items aren’t soon for your financial attention.
Were you short this year? Set aside a buffer for next year.
Need/want to add pressure washing service or WFP? Use some cash as a boost but set aside funds from each job.
Be cautious and judicious - a fool and his/her money are soon parted.
Good advice @Garry. I think the idea of saving that money is the best choice…I was kind of curious about how most people in business for themselves choose to invest…I’m digging the responses! Sometimes we get that new toy urge without thinking about the timing…Timing is the most important factor.
You can’t go wrong with counting the cost. Make sure you have a business plan in place. Create the demand, get the systems, tools, employees and know how to keep the work coming and making sure your customers are happy. Use that wealth of knowledge @Chris dropped in the blueprint book. And soon you’ll be buying all kinds of equipment from the WCR!
I have that book sitting right here next to me too!..I am working on studying that book…and so far…awesome!..I’m not getting through it as fast as I should…But a long plane ride to the Philippines next month will give me the motivation to finish that book and put it into practice!
Do you have just the paperback or did you get the digital version as well? If you only got the paperback, do yourself a favor and upgrade. It’s great to have both versions. But with the digital version you can instantly see examples that Chris talks about with the hyperlinks.
I have the paperback…I got it when I joined WCRA…would I have gotten the digital version as well? I’m actually not sure if I do have the digital version.
@Jessica could you help with this? Or @whitehorse67 you can email email@example.com They will be able to look up your account and see.
I plus +1 on that advice!!
I would spend the money on marketing Website seo, door hangers , eddm, AdWords