Mike Andes breaks down how to cut $35k monthly bills when you're carrying $1M in debt. Get rid of equipment you use less than 2-3 times a week, rent instead, and don't buy gear unless it generates $20k/month in revenue. The real pressure: scaling the business without sacrificing family time.
I can never take out debt like you have. It would just kill me. I'm gonna be able to sleep.
Is there anything that stands out to you that you might want to, like, recommend that maybe you're not recommending, just, you know, to hold back, whatever.
Personally, I would say get rid of the 80% of equipment that you don't use 95% of the time. If I'm not using it at least two, three times a week, I'm just gonna go rent it. This fixed expense of $2,000 a month means that if we don't make at least 20 grand a month from this one piece of equipment, I'm not buying it.
Yeah, we. One reason, like, I can do, you know, a $25,000 job in, like, three days, having this stuff, you know, so it just, you know, I got to get some more of those jobs.
You know, the growth strategy is there. I'm mostly concerned about the fact that, like, the whole reason of growing the business comes into jeopardy if you grow and get stressed out.
The whole reason why I started this company is to spend time with my daughter, my family, and all that. Hello, dad.
Didn't. I didn't get to say bye or a hug?
I'm sorry, honey. I'll be back soon.
Okay?
Yeah.
And then we're back into the same cycle. That's my only concern.
