How to Move On From (and Avoid) Business Failures

The EntreLeadership Podcast

Lampo Licensing, LLC.

Entrepreneurship, Business, Management

4.7 • 4.1K Ratings

🗓️ 23 October 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we’ll hear about: • How visionary leadership fails when middle management is not aligned with the vision • When it’s actually beneficial to buy real estate for your business • What to do when you have employees who are horrible with their finances and continue to ask for cash advances • Why you can’t dwell on business failures if you want a successful 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 • 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

Transcript

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0:00.0	From the headquarters of Ramsey Solutions, this is the Entre Leadership Podcast where I take calls from leaders like you
0:17.3	About what it takes to win at any stage of business and leadership. I'm Dave Ramsey. I'm your host and I've been
0:24.6	doing this fighting and scratching and clawing in the trenches thing for 30
0:29.8	freaking years right alongside you. So this is a podcast for small business. If you're
0:35.4	running some big hairy thing and whatever 10,000 employees I don't I don't know how to
0:40.1	do that and I really can't help you. I probably got some ideas about leadership but
0:44.3	that might help you but in general I've never done that. This I've done, this I've done and
0:48.8	we walk through the stages of business and particularly the stages of small business there are clearly
0:54.4	identifiable five stages. The first stage is the treadmill operator. That's how most
0:59.0	people start and that as the name implies makes you feel like you're on a treadmill.
1:04.2	The main problem that treadmill operators face is too much of the business, particularly the
1:09.8	revenue of the business, is dependent on you. You've done no delegating, you've done
1:14.9	no time management, you're just stepping and fetching. You're just getting it.
1:19.5	Just run, run, run, run, run, run. But if you take a vacation you're unemployed
1:23.7	you're a treadmill operator
1:25.6	and so we teach you to time audit we teach you to get above it to start
1:29.7	hiring
1:30.8	uh... and delegating out some of the revenue producing activities and hiring and
1:36.2	delegating out some of the activities that cause the basic business to operate.
1:39.7	So the whole freaking thing is not sitting on your back, your shoulders, and your head.
1:43.8	Once you do that, you level up and move to the next stage, which we call the Pathfinder
1:49.7	stage.
	...

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