Every business has a story, here’s mine:
I started Garden Guy in 1991 as a green Texas A & M Horticulture graduate with big hopes, no money, and no financial sense. I wanted to do landscape design and installations, but I could not get enough of those projects to pay the bills, so I turned to commercial and residential mowing.
Mowing
To pay the bills, I began mowing. My dad had some properties that he managed that needed maintenance so I took those to help me get some cash flow. I was young, hungry, and stupid.
When your business debt is like a noose around your neck, there’s no way to find happiness or see true success in business.
Bigger, faster mowers
This commercial work required a bigger, faster mower than I had. I wanted the check that the commercial mowing promised so it was time for me to upgrade my equipment. Time to go to Southwest Mower. Hello, beautiful, sexy red Encore 36″ Deck Belt Walk-Behind Mower!!!! It was $2500. A fortune to me at the time. I didn’t have that much cash. But of course, they had a great promo with Snapper Credit: Instant approval if you qualify. I was approved instantly! I was on my way!
Debt beginnings
I walked out the door with the mower and the debt. It was okay, I told myself because I had a big landscaping job next week that would pay the $2500 off, easily. The job was supposed to be $8,000. I would have money left over too.
The job fell through
The ‘big job’ that would pay for this mower and help me get some cash in the bank? It fell through. The client backed out and changed his mind. He said he would get back to me. He didn’t. I was so new at this. I did not have a contract or a deposit from my client. I did, however, have a debt of $2500 plus 21% interest.
Stolen Equipment
I was already down on my luck and guess what? Within a couple of months, my lawn equipment was stolen right off my trailer. I needed to replace it fast to keep working. I had no money. You know what I did… I used credit again to keep going. Hello, again Snapper Credit. I replaced the equipment for about $1,100. Now I owed Snappper credit $3,600 plus 21% interest. I had a truck payment too: $312.60 to GM Credit. It was used so about a 5 -6% interest. ( they didn’t take the encore mower).
Overwhelmed by the Rising Debt
My business expenses, on-going theft of equipment and taxes seemed to always be more than what I made. So when I needed more money to run the business, I used the Discover Card. You know, ‘The Card that Pays You Back.’ I used Discover Card for gasoline too for the trucks, mowers and lawn equipment. Welcome to 22% DISCOVER CARD interest on everything you DON’T own.
Denial and Debt
I got the credit card bills every month. I would grab them from my mailbox and place the envelopes on my kitchen table. I didn’t open the envelopes for 3 months at a time. I couldn’t because I knew I couldn’t pay. When I finally opened the bill, it was late. So I paid the minimum plus late fees. Way to go stupid. You’ve probably been there or maybe you are there now so you understand. I felt overwhelmed by the rising debt on Discover and Snapper credit. So to cope, I choose to deny what was happening.
The Hamster Wheel of Debt
I kept believing that if I kept going back to work, I would be able to pay off these debts and get ahead. Looking back now I see that I had entered the hamster wheel of debt. I had bought into the greatest marketing scheme of our time: buy now, pay later. I paid later but not in the way it was advertised.
When you’re sick and tired of debt, you find a way out! ( hey you!!!! Get our FREE downloadable TOOL!)
Paying more than Interest
I was an entrepreneur. I was a sole proprietor. I was my own man calling the shots, or was I? I always wanted to be my own boss. I believed in the idea that a young man could work hard and become successful and independent. With each swipe of the Discover Card, I learned that Discover was my Master and that I was its Slave. I had no capital to keep me afloat and with each swipe of the card, I lost more of my independence. I was
Suffocated
Trapped
Stressed
I was living the reality of missed payments, slow cash flow and no hope of ever getting out of the hamster wheel of debt.
But when the PAIN of lines of credit, credit cards and car payments destroys your purpose, debt-free is your way out. I had to find a way to get there…
That was many years ago and today with 5 children, 24 years of marriage and almost 30 years as a small business owner, we run a debt-free, modest but profitable landscape design and installation company in a suburb of Houston called Sugar Land.
Get our actionable steps for debt freedom. This HOPE TOOL will get you on the road to a fresh start of financial freedom.
We have no debt on our business and no payments. How did we get here?
I have a few simple tips for NOT using credit for your business and can help you make a plan to get rid of all of your business debt too.
Would you like more help getting out of the hamster wheel of debt?
We’d be happy to have you reach out to us!
We have 30 years of mistakes and successes too, to help you figure out a plan for a better, debt-free tomorrow. It’s never too late to start getting debt-free and living at ease.
Get some HOPE right now and right here!! GET THIS FREE TOOL we created with some actionable steps to help you get on the road to freedom. And hey, it’s totally free!
Thanks for reading,
Todd & Sabrina
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