Dave Ramsey
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
Being the tortoise is fine
Dear Dave,
I’m a general contractor, and I was recently offered some business by a large corporation. I’d need new equipment to handle the job, and the purchase would use most of my cash flow. I’m wondering if the opportunity is worth the risk. -Wayne
Read more: Entreleadership: Ask Dave Ramsey Being the tortoise is fine
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
Is multi-level about money?
Dear Dave,
I got myself into a multi-level marketing group several months ago. I’ve heard that a lot of people in this organization are making good money, but I’m not one of them. At this point, I’m not sure if I want to stick with this type of business. Can you give me some advice? -Mary
Read more: Entreleadership: Ask Dave Ramsey Is multi-level about money?
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
A Partnership Doesn't Sail
Dear Dave,
My fiancée has a small photography business, and she wants to form a partnership with a college student who is majoring in business. I think this is a bad plan, but I’m pretty sure she’s not going to listen to me. What do you think about the idea? -Bruce
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
Do You Really Want to Sell?
Dear Dave,
I’m thinking about selling my business to a corporation. If I do this, I’d continue to work there for a couple of years after the sale. I’m not sure about the feelings I’ll have during this time, plus I worry about how the new ownership will treat my team after the sale. Do you have any advice for someone in this situation? -Paul
Special to Grandy & Associates' eNewsletter
Entreleadership: Service with a Smile
Every business needs a Jonathan
Have you ever experienced incredible service? Not just a brief smile and a “let me know if I can help you,” but the type of service where someone goes out of their way to provide you with the best experience possible with their company.
Maybe it was the shoe salesman at the retail store, the pizza delivery guy, or the customer service representative on the phone. If you’ve ever had the opportunity to experience quality service, then you know the type of impression it makes.
That’s the type of impression a young guy named Jonathan made on Dave. Jonathan was the manager at a sub shop right down the road from Dave’s office in Brentwood, Tennessee.
Every now and then, Dave would head over to the sub shop with his son. And, every single time, Jonathan would address them by name and call out their order before they could even speak.
This guy treated his customers well! You’re probably thinking, Well, he knew that was Dave Ramsey and his son. Well, he did…but that’s not why he treated them so well.
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
Getting started as a stock broker
Dear Dave,
I’ve decided to get a new job, and have heard about an investment specialist position with a financial firm. I would work independently from an office outside the headquarters, but offer the company’s products and services. So, it would be like I’m running my own business. I’ve worked in the insurance industry, so I know something about sales. Cold calling doesn’t bother me, either, if there’s enough income attached to the job and I believe in what I’m doing. What do you think? -Jeri
Read more: EntreLeadership: Ask Dave Ramsey - Margin Doesn't Dictate Price
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
Do I take part-time job while trying to launch business?
Dear Dave,
My husband was laid off a few months ago. He has a degree in graphic design, and has been doing that ever since to make money. He made $6,000 during his best month, but only $300 during his worst. I’m working with him on marketing now to get more clients, but in the meantime we’re not sure if we should also get part-time jobs, or push extra hard to make this business a success. - Sharon
Read more: EntreLeadership: Ask Dave Ramsey - Are Business Budgets Like Personal Budgets?
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
When Does a Hobby Become a Business?
Dear Dave,
In your opinion, how do you know when a hobby officially becomes a business? -Dan
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Limiting the Liability
Dear Dave,
I co-own a property in Florida with my business partner. I’m considering paying off the property and implementing an LLC to limit my liability. Does this sound like a good idea? -Leigh
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Margin doesn’t dictate price
Dear Dave,
Would you consider it a bad business practice to charge your customers twice the amount you paid a contractor to do the work? - Anonymous
Read more: EntreLeadership: Ask Dave Ramsey - Margin Doesn't Dictate Price
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Are business budgets like personal budgets?
Dear Dave,
Should you do your small-business budget the same way you do your household budget? -Joe
Read more: EntreLeadership: Ask Dave Ramsey - Are Business Budgets Like Personal Budgets?
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Making the First Hire
Dear Dave,
I’m running my own business as a sole proprietor, but the place is growing beyond my capacity to handle it alone. I’d like to find someone to work with my clients and further generate sales. Do you have any advice on how to hire my first employee? - Mike
Read more: EntreLeadership: Ask Dave Ramsey-Hire First Employee
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
Dear Dave,
I own a company, and I make a good living and love what I do. It seems as if most of the time, though, I feel worn out and stressed. Plus, I know I’m not spending as much time with my family as I should. How do you handle this kind of situation? - Jim
Read more: EntreLeadership: Ask Dave Ramsey-Making Time for Relaxation
Entreleadership: Ask Dave Ramsey
Forming the Right Comp Plan
Dear Dave,
I’m a personal trainer. Last year, I bought into a franchise and have done a good job of building it up since then. I’m getting to the point where expansion seems possible, but what’s the best way to do this without getting involved in a partnership? - Stephen
Special to Grandy & Associates' eNewsletter
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
We are currently experiencing the 11th month of a 20 percent pay cut for our team, and everyone’s morale is really low. Now that we are recovering, what would you recommend we tackle first: restoring salaries, paying off debt or building up savings? - Debbie, Ft. Wayne, Indiana
Read more: EntreLeadership: Ask Dave Ramsey-Recovering after paycut
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
We have a small team, so we put off firing people—even when they need to go. Then, we end up rushing the hiring process. How do you balance getting the wrong people off the bus and the right people on the bus when each person plays such a critical role? -Michael
Read more: Entre Leadership: Ask Dave Ramsey: Small Team-letting people go
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
I run a real estate office. As a team, we are going to reach our goal for the year. Do we celebrate with everyone, even those who did not reach their personal goals? -Wendy
Read more: Entre Leadership: Ask Dave Ramsey: Celebrating Goals
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
How do I grow the personal side of my life, when I’m putting all my energies toward building my business?
- Jarrett
Read more: Entre Leadership: Ask Dave Ramsey: Personal Life while Building Business
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to you by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Part of our business growth is through acquisition. Do you have any tips on maintaining our culture when we are integrating a large number of people into it at the same time? -Ryan
Read more: Entre Leadership: Ask Dave Ramsey: Maintain Culture Througout Acquisitions
Entreleadership: Ask Dave Ramsey
Letting Go: The Right Way to Fire Someone
Freddie Krueger, step aside. Dracula? Please. Many business owners and leaders have to face something that’s much scarier than any Halloween horror story: firing someone. In fact, according to an article in The Wall Street Journal, discharging a team member is one of the top three causes of stress for business leaders.
Letting someone go is not easy or comfortable, and it should never be your first option when dealing with an employee that’s not up to par. You want your team members to soar. If there is a problem, give them every opportunity to fix it.
Read more: Entre Leadership: Ask Dave Ramsey: The Right Way to Fire Someone
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,We are currently experiencing the 11th month of a 20 percent pay cut for our team, and everyone’s morale is really low. Now that we are recovering, what would you recommend we tackle first: restoring salaries, paying off debt or building up savings? Debbie, Ft. Wayne, Indiana
Read more: Entre Leadership: Ask Dave Ramsey: Turning Corner-Restore Salaries or Pay off Debt?
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,Have you ever felt like you lost your vision?— Troy, Dayton, Ohio
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
Lately, I feel like every day at my business has been a struggle. I know that you went through some rough times, too. How did you manage to keep going? – Pete, Des Moines, Iowa
Read more: Entre Leadership: Ask Dave Ramsey: Keep Going When Every Day Seems to be a Struggle
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,We are in the construction business and employ a crew of young guys. When their supervisor is on the job, everything goes well. When he’s not there, everything seems to fall apart and the guys aren’t getting the job done. What can we do?—Carrie, Sioux Falls, South Dakota
Read more: Entre Leadership: Ask Dave Ramsey: When Boss is Gone
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
Lately, I feel like every day at my business has been a struggle. I know that you went through some rough times, too. How did you manage to keep going? – Pete, Des Moines, Iowa
Read more: Entre Leadership: Ask Dave Ramsey: Rough Times in My Business
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,We are in the construction business and employ a crew of young guys. When their supervisor is on the job, everything goes well. When he’s not there, everything seems to fall apart and the guys aren’t getting the job done. What can we do?—Carrie, Sioux Falls, South Dakota
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,I own a home-cleaning business, and I’m ready to hire my first team member. Since it’s my name on the company, I’m a bit leery that the person I employ won’t work out and possibly damage my reputation. How can I ensure that I’m hiring the right one? —Sandra, Plano, Texas
Read more: Entre Leadership: Ask Dave Ramsey: Hiring the Right Person
Entreleadership: Ask Dave Ramsey
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
As a mom, how can I balance the passion I have for my business with the passion for my family? —Dawn, Colorado Springs, Colorado
Read more: Entre Leadership: Ask Dave Ramsey: Balancing Business and Family
Pulling the trigger: 5 ways to make hard decisions easier
Have you ever had to make a decision that was so monumental that you were nearly paralyzed with fear? If the answer is yes, don’t feel bad. You are definitely not alone. One of the hardest parts of being an EntreLeader is making those tough calls, especially when you know that whatever you decide affects others around you.
In fact, Dave says fear is the ultimate cause of paralysis. Still, he never makes decisions based on it. Instead, he has a system that allows him to make the tough calls. As Dave teaches in EntreLeadership Master Series Lesson 18, elements of good decision-making include these five steps.
Read more: Entre Leadership: Ask Dave Ramsey: 5 Ways to Make Hard Decisions Easier
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
I operate a window business in a small town. I have an employee that I’ve trained for a year, but we don’t seem to share the same vision and morals. We have nothing in common and we hardly ever talk. He usually does his job pretty well, but it’s an uncomfortable situation and I don’t want to have trained my competition. How should I handle this? -Bill
Read more: Entre Leadership: Ask Dave Ramsey: Hire People that You'd Have Over to Dinner
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
I run a small, family catering business. We make everything from scratch, and we specialize in corporate events. Our problem is that the cost of eggs, butter and flour has more than doubled in the last few months, and some of our best customers are having trouble with the increased price we’re asking for our services. How can I make them understand that we’re not just padding our own pockets? -Grace
Read more: Entre Leadership: Ask Dave Ramsey: Increasing Prices
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
When should an owner of a business start taking a salary? —Steve, Portland, Oregon
Read more: Entre Leadership: Ask Dave Ramsey: When Should Owner take Salary
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
Since debt is dumb, what do you think about taking on a partner or investor to get the cash needed to grow my business?—Steve, Columbus, Ohio
Read more: Entre Leadership: Ask Dave Ramsey: Taking on a Partner
The Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
I just read your book, EntreLeadership, and found, it seems like, 100 ideas to try. How do I prioritize what I want to work on first? —Pete, Eugene, OR
Read more: Entre Leadership: Ask Dave Ramsey: Entre Leadership: Where to Start
Dear Dave,
I have a small one-person business, and I’m starting to see a decrease in the quality of my work because I’m so busy. I need help getting organized and becoming more efficient, but I’m scared to take the next step and hire someone. What should I do?—Tom, Camden, NJ
Read more: Entre Leadership: Ask Dave Ramsey: One Man Shop-Hiring for Administrative Work
Dear Dave,
On your radio show, you often mention some of your favorite books. Do you have a must-read list for business owners? —Dennis, Asheville, NC
Read more: Entre Leadership: Ask Dave Ramsey: Dave's "Must Read" List
Dear Dave,
I have an ultra-small business, and I can’t afford to hire a full-time person with a draw. What kind of incentive package can I offer? —Shane, Dallas, TX
Read more: Entre Leadership: Ask Dave Ramsey: Options to Hiring Full Time
Dear Dave,
How do you inspire a team member who is not motivated? —Robert, Nashville, TN
Read more: Entre Leadership: Ask Dave Ramsey: Motivating Your Team
The new Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Read more: Entre Leadership: Ask Dave Ramsey: Emergency Fund
The new Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
I have a small business with 17 people in the main office and another 44 mobile techs in the field. We had a merger last year, and although we’ve overcome rivalries and other difficulties, gossip is a huge issue in the office. How can we solve this problem and still maintain morale? -Chad
Read more: Entre Leadership: Ask Dave Ramsey: Creating a "No Gossip" Culture
The new Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
What’s the best way to ask for a raise at work? - Anonymous
Read more: Entre Leadership: Ask Dave Ramsey: Asking For a Raise
The new Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
My small business has been very successful this year. I’d like to start a profit sharing program, but the company still has some debt. Should I wait until the debt is completely paid off to implement this idea?
Mark
Read more: Entre Leadership: Ask Dave Ramsey: Profit Shaing or Debt?
The new Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave,
I have an opportunity to buy a landscaping supply business. The current owner said he made $250,000 last year, and he’s on track to make even more this year. There are three employees, and he’s asking $390,000 for everything. The building is included in the price, but the land would be either a lease or purchase. Do you have any advice for taking advantage of a situation like this without going into debt? -John
Read more: Entre Leadership: Ask Dave Ramsey: Buying In Debt Free
The new Ask Dave series is brought to your by the Dave Ramsey EntreLeadership team. In this series, Dave Ramsey will answer questions that come into his radio show or at his live EntreLeadership events across the country. Dave will address a couple of questions each month with the same methodology that he uses everyday in running his business.
Dear Dave, I run a small upholstery business out of a shop in my garage. I’d like to expand to a bigger facility. Would it be a good idea to sell my property and buy a place where I could have a bigger shop built?
-Carol
Read more: Entre Leadership: Ask Dave Ramsey: Expanding Too Much