Hard Choices

The dilemma; having equipment to handle the business you are seeking. But who makes the payments on that equipment when it is sitting idle? Who pays the insurance premiums? & what about the cost to hire & train an worker who is being paid to be on standby waiting for something to do. The business volume you counted on to be there one time you had all of your ducks in a row. These are hard decisions, but for a business to grow, risks such as these are necessary.

Your clients & customers expect you to be prepared & rearing to go at a moment's notice. In fact, some contracts need you have a definite amount of equipment on standby. However, there is no provisions in those contracts to help you out ought to the weather not cooperate, or the economy goes south. You are by yourself.

Even if your credit is in nice shape to go down to you local dealership & order the equipment you may or may not need, when you are new & struggling, give it some thought, resist the temptation to jump in to that much debt. Keep in mind, the people enthusiastic to sell you shiny new equipment, are not your mate. They could care less in case you make it out there or not. All they care about is the commission they make on the sale.

If your business is in its infancy, & you don't have massive amounts of excess money in reserve, renting may be the way to go. While owning is definitely more convenient, it could be flirting with financial catastrophe. If, however, renting is not an option, what has worked for me when I was beginning in the Towing & Recovery business is to work together with other little companies. Pool your resources & help each other out. This is an exercise in professionalism, but that will make you stronger & could make the difference in surviving that first year or or going under.

I have done well in most of my endeavors, but I do know what it means to struggle to bring your dreams to reality. Somebody that has bravery to think in themselves & their ideas strongly to risk it all has my admiration & respect. I hope to pass on the knowledge I have learned, over the years, that will help you attain your piece of the American Dream.

Also, going with nice used equipment is yet another way to go. In plenty of cases, the money you would use for a deposit for new, could  let you pay money & you'd be that much further ahead. I have had various businesses' & learned plenty of of my lessons from my mistakes. I have learned hard lessons & I do know that chasing the American Dream can turn in to a nightmare in heck of a rush.