I tend to build businesses
using very little initial funds
so I’m careful
about investing in equipment.
I’m extremely careful
about investing in equipment
that can only be used
for one specific business.
If I know I can use
that equipment
in multiple businesses,
I tend to invest in it
with less hesitation.
I have a small paper shredder
that I bought three decades ago,
for example.
I’ve used it
in dozens of my businesses.
And I still use it today.
I suspect, if I’m cash strapped,
I could sell it
for close to what
I originally paid for it.
It has been a great investment
for me.
Ask yourself
if you can use the piece
of equipment
in a variety of businesses.
If you can,
consider investing in it
(looking at the used options first).