Why Making a Profit Isn’t Enough to Survive in Business

Why Making a Profit Isn’t Enough to Survive in Business

Today we’ll hear about: • A business owner who made $8 million last year but is going broke • The best way to structure bonuses for your team that doesn’t negatively affect your profits • Someone wanting to buy a gym, but the current owners aren’t being honest • What to take into consideration when determining how to pay yourself as the owner of a business Links mentioned in this episode: • The EntreLeadership Podcast • Stages of Business Assessment • Have a question for The EntreLeadership Podcast? Leave a voicemail at 844.944.1070 or submit your question for a chance to be on the show with Dave Ramsey: https://www.entreleadership.com/ask Start growing in business and leadership with the EntreLeadership Newsletter. Sign up to receive tactical tools, advice and resources in your inbox every week: https://bit.ly/3IRWnsL Support our sponsors: • NetSuite • BELAY • Payority • Trainual Learn more about EntreLeadership Events: • EntreLeadership Summit • EntreLeadership Master Series Learn more about EntreLeadership Coaching: • Elite • Advisory Groups • Executive Coaching • Workshops Find out what stage of business you’re in and what you can do to level up with our Stages of Business Assessment Listen to all the Ramsey Network podcasts anytime, anywhere in our Ramsey Network app: https://apple.co/3eN8jNq Learn more about your ad choices: https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy: https://www.ramseysolutions.com/company/policies/privacy-policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(639)

My Dad Doesn’t Trust Me to Make Decisions for the Business

My Dad Doesn’t Trust Me to Make Decisions for the Business

Today, we’ll hear about: A son frustrated with his dad’s way of thinking   A manager whose team is upset they didn’t receive profit sharing A business owner wondering what makes a good b...

15 Sep 202555min

I’m Nervous to Share My Financials With My Leadership Team

I’m Nervous to Share My Financials With My Leadership Team

Today, we’ll hear about: •             A businessman wondering if he should share his financials with his leadership team •             A butcher looking to increase cash flow in his business •    ...

8 Sep 202540min

My Employees Can’t Stand Each Other (It’s Driving Me Nuts)

My Employees Can’t Stand Each Other (It’s Driving Me Nuts)

Today, we’ll hear about: •             A business owner dealing with two employees who continually fight  •             A woman trying to protect her family from her bad business decision •        ...

1 Sep 202548min

Is It Okay to Go Into Debt for This?

Is It Okay to Go Into Debt for This?

Today, we’ll hear about: •             A business owner unsure if it’s the right time to purchase a building •             A father hoping to create a business his kids will want to join •         ...

25 Aug 202539min

My Employees Aren’t Happy With Their Raises

My Employees Aren’t Happy With Their Raises

Today, we’ll hear about: •       A leader who is unsure if he’s giving his team the right pay raises •       A man wondering about buying a business with a silent partner and employee he can’t fire ...

18 Aug 202555min

Our Business Is in the Red (Is It Time to Lay People Off?)

Our Business Is in the Red (Is It Time to Lay People Off?)

Today, we’ll hear about: •             A business owner considering potential layoffs due to declining revenue •             A leader struggling to talk to his team about their pay differences •   ...

11 Aug 202540min

We Made $1.2 Million, But Took Home Nothing

We Made $1.2 Million, But Took Home Nothing

Today, we’ll hear about: •             A woman whose niche business doesn’t make a profit •             A business owner considering adding commissions to her pay structure •             Dave Ramse...

4 Aug 202544min

How I Built An 8-Figure Business From My Garage

How I Built An 8-Figure Business From My Garage

Today we’ll hear about:  ·      How Montana Knife Company grew from a passion project in one man’s garage into a coveted American brand—and the lessons its founder, Josh Smith, learned along the way ...

28 Jul 202543min

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