How to Confront Business Nightmares
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- čas přidán 26. 02. 2023
- Today, we hear from:
• A business leader who is in the middle of a family business nightmare from inheritance
• A business owner who wants Dave to talk him out of financing a vehicle for the tax break
• An inventor who is wondering if he should work with a venture capitalist
• A journeyman carpenter who wants to know the difference between greed and profit
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I like this long-form practical content. Real people, real questions, real solutions. This is what I prefer and want to hear from entreleadership 👍
Same here. Absolutely love this, and love that Dave is doing it. This is the type of content I would actually be willing to pay for if I could watch a few of these a week. This is very similar to how Dr. John does his show and I watch every episode of his, this is just very similar but with another type of content I enjoy.
Dave Ramsey needs to write a book on business succession
Absolutely love Dave’s excitement for the guy with the idea for the gun accessory, n how he takes the time to brainstorm ideas for him… 4 orders down and they don’t even know what it is 😂
Love it! 😂
DAVE ON HERE TALKING MORE BUSINESS THAN SHARK TANK...I LOVE IT🔥🔥
29:23 - How Barrett Rifles made and sold their first product without taking out a loan or getting outside investors
33:39 - Tell customers upfront, that since you are a small business, you build the customers product after they purchase it. So it might not be delivered super fast.
35:30 - Tell first customers, you are starting out of your garage, and they are your first customers, so they get a $25 coupon. Thank you for supporting me.
Love the podcast! Dave hosting was a great idea, hearing these stories and the advice is excellent.
I like how Dave talks about enjoying his money. He works hard, provides a valuable service, donates to charity, so I'm glad he and Sharon had a $1,000 meal. Good for them!
We are living that inheritance nightmare. My father-in-law (had a trust set up) & left our company, an S corp. 50/50 to my husband & his brother. We do NOT get along---that every family has a crazy thing! We made a proposal to buy it all & at the end of the month we have a pretrial conference. Our lawyer is going to present our proposal to a judge and like you said Dave....either we own it 100% or we walk away. Thanks for reinforcing that decision!
Not to sound crazy, but have you considered just talking about it directly with the other owner, and trying to find common ground, and using logic and reason?
@@charlesg7926 I guess we have been screamed at too many times. Some people are just toxic & he is one of them. Thankfully my husband is the one who talks directly with our customers or we wouldn't have many customers. Thanks for taking the time to reply though....your plan sounds reasonable but not with who we are dealing with.
posting for the algorithm because Dave asked me to :)
This show is exactly what I needed
Great advice for great people! Be an entrepreneur, be American!
too many ads Dave, love the show though so I'm sticking it out. LOVE your transparency Dave
That's why it's not a paid for program, the ads cover the $ aspect. It's worth it.
Thank you Dave
Dave, I would like to know your general rules for generational succession in a family business. It is something that keeps me awake many nights, I don't want our family business to end with me.
Thank you for sharing!
“Seem like EVERBODY in this country got a real problem tryina figure out everone else’s business instead of minding their OWN!” 49:45
Love it... keep it coming
Best. friggin. Podcast.
Well done!
Dave, every business needs classes with your knowledge before it becomes a business. I found out the hard way (small farm, but 6 stepkids).
I wonder if Dave has a magic number where ‘saved’ turns into ‘hoarding’ no matter the intent. Because you can say this is for my family tree, but at what point will your family never ‘need’ again and at that point, should every penny go to the ‘giving’ category? Just a thought. In my mind, there’s got to be some rationale there. I wonder what that number is.
I think that might be his percentage thing. I don't recall the numbers, because it doesn't apply to us yet. But I recall him saying something like this: when you reach a level of wealth, it stops being about can you afford it, and more is the percentage of your wealth disposable? And then he had some general suggested guidelines for the categories of give, save, and spend. And he has said that you need to be matching your spending for pleasure with your generosity of it as well.
You should check his book about legacy!
"They see business as a Godly act of services as a high calling..."
As a business owner of myself that owns 100% of my company, I feel like the first caller is in an unfortunate situation. Because the business is making so much money every month, but this person is lazy and wants to sell the business. I do think they’re entitled to a certain amount of the profits each month, for sure. But they also need to pull their weight, it’s not fair they get 47% if they’re not really doing any work and the majority owner is doing like 90% of the work. But ultimately, that’s why it’s not good for a family to split up a business like that.
Basically, when you have a business, making that much money every month, it’s a terrible idea to sell it. That’s like killing the goose that laid the golden eggs. You’re trying to get some short term cash, but then make your future children generationally poor.
I also think it’s very unfortunate that Dave Ramsey is encouraging the dissolution of a successful family business, just because -one- of the owners doesn’t want to continue it anymore. It’s not fair to close the business for everybody else, because that other owner probably uses the business as their primary job and needs the business to continue in order to feed their family. And ultimately, closing it is a bad deal for the family in general because they lose a lot of future wealth.
"WE'RE NOT STAYING WHERE WE ARE!"
I was under the impression dividends *had* to be paid to all shareholders in proportion to how much they own, irregardless of the state.
"they see business as Godly act of services..."
mike welch juniors dime
unpaid taxes is a crime
fifty three year rhyme
❤
three quarter shower
bills mass electric power
kristens muck cower
steves stationary
charpentiers seminary
gregs secretary
that damn rock n roll intro is too loud on my speakers
In your own city….
a dance with lisa
christas death rocchis pizza
spider mite meets her
bytes redundancy
john goffreds moms infancy
warm plates sals nancy