Theodore Phillips2 years agoAny words of wisdom for someone who expanded their business too fast? I went from a 1 truck solopreneur to having 6 employees and 4 trucks in 2 years. I don't need the 4th (45k) truck or the equipment I bought for it, and I won't for the foreseeable near future (at least a year or 2). It's at a reasonable interest rate (purchased 1.5 years ago). Do I cut my loss and sell it or do you just carry the debt, let the truck sit until you need it? The money would be helpful but selling feels like a total waste and makes me want to smack my forehead. It miiight come in handy as a backup truck if equipment breaks down or something but it's not necessary for day to day at all. 43
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Theodore Phillips