How Much Cash Should I Have in the Bank?
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- Опубликовано: 5 янв 2025
- In this video, I answer a few questions, including one about how much cash a home service business should have in the bank.
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Timestamps:
0:08 - Planning for Asset Replacement: Trucks and Equipment
1:04 - Budgeting with Amortization Schedules: Practical Tips
2:07 - Balancing Cash Reserves and Aggressive Growth
3:03 - Productivity Challenges in Open Office Settings
4:14 - Skill Development for Focus and Efficiency
7:33 - Supporting Teams While Maintaining Productivity
10:03 - Expansion Plans and Prioritizing Locations
12:51 - Overcoming Challenges in Scaling Solo Businesses
15:15 - Exploring Satellite Locations and Profitability
17:07 - Conclusion and Takeaways
#mikeandes #businessturnaround #businessgrowth
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So what happened between Chuck and Augusta in the Carolinas? As Chuck was such a big part of the face of Augusta, it's a mystery to those of us outside of Augusta. Seems like there's a learning-opportunity for the viewers between Chuck's departure and the decision to sell the owned-locations in the Charlotte market.
It’s not commonly known inside of Augusta either. From what i can gather, some people were not treated right.
You will never hear me trash anyone on my team, even if they made mistakes. We all make mistakes. We learn. We grow. The locations are in good hands as one of my GMs rose to the occasion.
@HomeServiceMillionaire it's an awesome team! I'm in the south park location and it's amazing!
Can someone tell me where I can submit questions to mike ?
I think this is a recoding of his regularly-scheduled call with Augusta franchisees. So, unless you're a franchisee (w/I'm not), I don't think we can ask questions.
Daily “Mike minutes mastermind” for franchises only. Join the franchise!
@@abclawnworks9127I was in on Facebook but got kicked out just put random info on the questionnaire and they let me in. Got kicked out when someone found out and snitched😭 just try getting in just might work
I’d rather use other people’s money and keep my bankroll high. You never know what will come your way. A vehicle breakdown, an IRS bill or even a surprise workers comp audit.
Learning how to leverage debt, and retaining capital opens up way many doors for you.
When the economy changes, those with cash on hand can fair better than an all cash basis.
HVAC Contractor and Business Owner operating at a 20% net. 1.2 million revenue FY 2024. 4th year in business.
Grew 65% with an overall marketing budget of 3.49% of overall revenue. Stepping on the gas in 2025 increasing marketing budget to maintain and surpass 65% YOY.
Let’s gooo
In the last few years everyone has been talking about how wrong Dave Ramsey is but keep in mind he’s totally debt free. Everyone’s house hold is different we have become to focus on crypto and fast money rather then financial literacy to focus on putting people down who don think like Ramsey or other influencers. The goal is to become debt free so when life happens (and it will) the impact won’t feel so bad. So why is Dave Ramsey wrong? His whole company is debt free sounds like financial literacy that’s working