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The EntreLeadership Podcast

This Family Drama Could Destroy This $3 Million Business

The EntreLeadership Podcast

Lampo Licensing, LLC.

Entrepreneurship, Business, Management

4.74.1K Ratings

🗓️ 5 May 2025

⏱️ 45 minutes

🧾️ Download transcript

Summary

Today, we’ll hear about:  How family drama is impacting a highly profitable business  A business owner dealing with an underperforming employee  What humility really is according to Dave Ramsey  A business owner looking for advice on an effective digital marketing strategy    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!  📈 Get started with Sales Gravy’s free resource, The Small Business Owner’s Guide to Hiring Salespeople.  📝 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

Transcript

Click on a timestamp to play from that location

0:00.0

From the headquarters of Ramsey Solutions, this is the Entree Leadership podcast, where I take calls from

0:15.8

leaders like you about what it takes to win at any stage of business and leadership.

0:22.4

I'm Dave Ramsey, your host with over 30 years of experience leading in the trenches right

0:27.1

alongside you. I actually did this stuff today. If you want to submit a question,

0:32.6

go to entreleadership.com slash ask or leave us a voicemail at 844-944-1070. In either case, we'll get back with you and make you a caller on the

0:43.2

Ontario Leadership Podcast. 844-944-1070. Dial it up. Brad is in Vancouver. Hey, Brad, how are you? Good. How are you? Thanks for your time today.

0:59.6

Certainly, sir. How can we help? So I am the third generation of a family business. We're in the tourism sector.

1:07.5

We operate seasonally for six months a year. I'm currently one of two managers

1:13.1

and our parents are the shareholders. We have about 15 employees. And in terms of the business

1:21.0

in 2024, we did 3.1 net or sorry, 3.1 revenue and 2 million of that was net after tax and the business itself

1:32.1

is a great business but um there's a lot of internal fighting as it's my father and his sister and

1:41.0

now that we're onto the third generation,

1:47.3

her kids, there's four of them and there's two of us.

1:54.0

And there's just a lot of conflict with the operation and whatnot of the business.

1:57.7

And so the question I'm trying to get to is,

2:02.3

we're at the point where we would like to either be bought out or buy them out.

2:07.2

They don't want to take the advice of our lawyers.

2:08.7

They don't want to sit down.

2:10.8

They don't take the advice of our accountants.

2:17.5

So I'm just trying to figure out what are some steps I may be able to take to try and get them to the table to at least start those conversations.

2:19.8

Sounds very childish.

2:23.6

Yeah, no doubt.

...

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