Rant from Salty Mike 😤

Trucks and equipment are not assets.

Yes, they go in the assets column of a balance sheet. True.

But they go down in value. In time, they will be worth nothing. So I like to refer to them as TOOLS.

Appreciating assets are quality stocks, good businesses, real estate, gold, and valuable possessions. They have decades of rising value.

Carelessly using debt to buy depreciating assets is insanity. It only impresses poor people.

If someone talks a lot about trucks, equipment, and debt, check their incentives.

Remember that popular social media influencers get some equipment for free. They get sponsorships, and they get commissions for brand partnerships.

They receive large checks to promote and endorse software, financial services, new equipment, and even their boots.

I love each of these creators. They are competing in a hard industry. But they have a media business to fall back on. Home service business owners do not have a plan B. They do not have passive income. They do not have brand deals. They do not have many streams of income.

These equipment manufacturers somehow convince us to squander our profits at year-end. We chalk it up to "saving on taxes."

Don’t buy the lie. Stack money in the bank. Raise prices. Invest in marketing. Invest in people. Build systems. Avoid debt unless you have a battle-tested plan for getting ROI.

Rant over. Salty Mike, out!

PS - Salty Mike will be attending BlueCollarSummit.com for 3 days. You don't wanna miss it. Book your tickets today.