EP170: Financial Discipline in Construction: Why More Money Can Lead to Failure
Should you borrow money to start or grow your construction business? When people start a construction business with little money, they have to be smart about how they spend their money, buy tools slowly as the business grows, and focus on making money to keep it growing. In this episode, Brad talks about: Starting a construction business with minimal funds Risks of borrowing money without financial discipline Statistics on business failure rates Importance of financial IQ and discipline in managing borrowed funds Strategies for using borrowed money effectively Caution against using lines of credit for operational expenses Links to Resources: Get the blueprint to create financial freedom & more free time before burnout or bankruptcy happens. A complete Done-With-You Program - Join the Profit Club (http://www.hammerandgrind.com/) Join the Free Facebook Group - The Contractor Profit Blueprint (https://www.facebook.com/groups/contractorprofitblueprint) Get Paid for Estimates - Free Sales Guide (https://theprofitclub.hammerandgrindpodcast.com/sales-training-optin) Plan Your Profits - Profit Journal (https://links.hammerandgrind.com/pj-podcast) Help us get the word out to other contractors by leaving us a review or sharing our podcast! Hosted on Acast. See acast.com/privacy (https://acast.com/privacy) for more information.