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 fundsRisks of borrowing money without financial disciplineStatistics on business failure ratesImportance of financial IQ and discipline in managing borrowed fundsStrategies for using borrowed money effectivelyCaution against using lines of credit for operational expensesLinks 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 Join the Free Facebook Group - The Contractor Profit BlueprintGet Paid for Estimates - Free Sales GuidePlan Your Profits - Profit JournalHelp us get the word out to other contractors by leaving us a review or sharing our podcast! Hosted on Acast. See acast.com/privacy for more information.