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

The EntreLeadership Podcast

Ramsey Network

Entrepreneurship, Business, Management

4.7 • 4.1K Ratings

🗓️ 11 August 2025

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 • An employee wondering how to best support his leader • A business owner who is considering moving or selling his business Next Steps: · 📞 Have a question for the show? Call 844-944-1070 or send us a message: https://ter.li/ask-us · 📚 Learn about the EntreLeadership System: https://ter.li/system-p · 💻 Get EntreLeadership Elite for your business: https://ter.li/elite-p · ✉️ Sign up to receive tactical tools, advice and resources in your inbox every week: https://ter.li/enl · 🏢 Attend EntreLeadership Summit: https://ter.li/summit · 🎤 Attend EntreLeadership Master Series: https://ter.li/masterseries · 📖 Order Dave’s new book, Build a Business You Love: https://ter.li/b4kru2 Connect With Our Sponsors: 💼 Go to Belay Solutions or text ENTRE to 55123 for their free resource! 💻 Visit NetSuite today to learn more. 🧾 Visit Payority for a free consultation! 📈 Grab Sales Gravy's free resource to help you hire and lead better. 📝 Use code ENTRE15 to get 15% off your first year of Trainual. Listen to More From Ramsey Network: 🪑 Front Row Seat with Ken Coleman 🎙️ The Ramsey Show 💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show💰 George Kamel Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	From the headquarters of Ramsey Solutions, this is the Entree Leadership podcast, where I take calls from leaders like you about what it takes to win at any stage of business and leadership.
0:22.6	I'm Dave Ramsey, your host with over 30 years of experience leading in the trenches right
0:26.9	alongside you. I was doing this stuff today. If you got a question you want to ask on the show,
0:32.6	fill out the form on entreleadership.com slash ask or call and leave us a voicemail at 844-1970.
0:41.4	844-944-1070.
0:45.7	Brian is with us in Grand Rapids.
0:47.9	Hey, Brian, how are you?
0:50.2	Hey, Dave, better than I deserve.
0:51.9	How are you, man?
0:52.6	Just the same, sir.
0:53.6	What's up?
0:55.1	Well, I run a consultant firm here and I have about six employees.
1:01.6	Last year we did about $2.5 million in revenue.
1:04.8	And the problem that I'm running into right now, Dave, is that since fourth quarter last year, we've seen a
1:12.4	significant dip in revenue due to economic factors that's happening here in Michigan and
1:18.1	suffered a pretty substantial loss in Q1 of this year. And I'm considering reducing my staff
1:27.0	headcount.
1:28.2	The problem is that I have an amazing team that's been with me for quite some time.
1:34.4	They all buy into our mission.
1:37.3	They're aligned with our vision.
1:39.1	It took me a long time to get to this place.
1:41.1	And I'm hesitant to let anybody go because of how hard we work to get
	...

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