Archive of Dave Ramsey Entrepreneurship

• Take Time to Get Involved
  Discover how business leaders can make a meaningful impact in their communities. Learn strategies for building relationships, advocating for causes, and leading through service.... more
• The Importance of Employee Buy-In
  Learn four essential steps to get your employees to buy into your company’s mission: strong leadership, clear mission and values, consistent communication, and a solid strategic plan.... more
• So, You Want to Buy a Business…
  Thinking of buying a business? Learn how to assess its value, examine financials, understand costs, and avoid common pitfalls. A must-read guide for prospective business buyers.... more
• Give Them Examples
  Learn how offering free billing audits to local businesses can build your reputation, generate referrals, and grow your business. A smart way to trade services for valuable connections and real opportunities.... more
• Buy it Gradually?
  Gradually buy inventory based on sales to minimize risk and avoid debt. This approach helps you ease into ownership while aligning costs with actual sales, creating a win-win situation.... more
• Seeking Investors
  Learn why growing your business with organic cash flow is crucial. Avoid rapid expansion pitfalls, investor pressure, and protect your company’s long-term success.... more
• It Gets Easier, and More Accurate, Over Time
  Create a detailed business budget, focus on debt reduction from profits, and build a contingency fund for unexpected expenses. Refine your budgeting skills for better financial management.... more
• Credit Cards and Business Integrity
  Discover how one entrepreneur stands firm on not accepting credit cards due to moral principles, handles pushy clients gracefully, and maintains business integrity while offering top-notch services and prices.... more
• Compassion and Reasonable Boundaries
  Care for your team, but balance compassion with accountability. If an employee mismanages PTO, offer limited extra time for serious needs but discuss better future time management. Boundaries are essential.... more
• Plug In or Promote from Within?
  Encourage leadership by fostering open communication, aligning values, and nurturing potential within your team. Invest in growth through mentorship and shared learning experiences.... more
• Don’t Risk it All
  Encourage gradual pursuit of passion. Avoid cashing out 401(k). Start small to minimize risk. Don’t risk everything for a dream.... more
• If You’re Not Going All In, Stay Out
  Buying an established business with management might be a better fit. Unlike real estate, a new venture demands constant attention. Your personal commitment is key to its success. If you can’t invest fully, consider alternatives.... more
• Be Fair, But Firm
  Approach your friend-client with empathy and honesty. Communicate your need for timely payment and propose a plan for settling the overdue amount and adjusting future payment terms.... more
• Don’t Be Afraid to Start Small
  Dave Ramsey advises aspiring entrepreneur Kirsten to start her online business small, using existing funds, and gradually grow without debt, emphasizing the value of maintaining a full-time job for stability.... more
• Too Much Regulation Stifles an Economy
  A free market allows buyers and sellers to transact freely. While some regulation is necessary, excessive control hinders economic growth and job creation. Trust in market forces and mutual interests of buyers and sellers drive the efficiency of a free market.... more
• Look for (and Instill) a Crusader’s Mentality
  Dave emphasizes the importance of maintaining a ’crusader’s mentality’ in sales. He advises hiring those with a passion for the job and gradually instilling the winning attitude. Leading by example and recognizing success are key leadership responsibilities.... more
• The Concept is the Same
  Small-business budgeting is like personal finance but requires projecting income, expenses, and profit to avoid cash flow issues.... more
• Revoke His Get Out of Jail Free Card
  Don’t let an employee who may also be a relative disrupt your company. It’s not good for you or the employee. Dave had some advice for address this issue.... more
• Different Personality Types Can Be a Good Thing
  Differing personality types within a marriage can create success in the relationship and in business.... more
• Family Business? Keep It Professional
  What do you do when a one-third owner of a company is no longer involved in the family owned business but insists on taking a salary? See Dave’s recommendation on handling this.... more
• Gen Zers and Millennials? I Love ’Em!
  Dave is a huge fan of millennials and Gen Zs in his workforce. He says give them what you should as a leader and they’ll blow you away with their smarts and achievements.... more
• This Guy Has Potential!
  What should you do when you have a stand out employee that you may want to promote into a sales position? Dave provides advice on what to do.... more
• Enhance Communication with Your Team
  The greatest problem with communicating with your team is the illusion that it has been accomplished. Create a culture where you communicate early and often. Here are some ideas!... more
• Improve Your Decision-Making (and Critical Thinking) Skills
  Mastering decision-making skills gives you muscle to weigh your options wisely and make hard, brave choices.... more
• Avoid the Set-it-and-Forget-it Mindset
  Setting your goal and hoping it will happen isn’t the right answer. You need to work on it.... more