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The Ramsey Show Highlights

You Shouldn’t Be Running A Business

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 25 October 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today. Me and my wife are buying a

0:08.4

business. We bought a franchise business and my question was she's going to be running the store

0:14.4

and we're going to be living off of my income like we are now. And my question was, is it a good idea for her not to take a salary the first

0:23.8

year, maybe the first two years, or for her take a salary because I'm concerned that she's going

0:30.7

to get burnt out and not feel like she's being rewarded enough if she doesn't take a salary.

0:37.3

You shouldn't buy this. If the person running... being rewarded enough if she doesn't take a salary.

0:38.7

You shouldn't buy this.

0:44.2

If the person running it is going to get burn out because they don't get a salary,

0:45.7

you shouldn't be running a business.

0:47.6

Yeah, you're right.

0:52.5

That's my concern, but we're very passionate about this type of business.

0:54.4

Then it doesn't matter if she gets a salary.

0:55.8

Okay.

0:58.3

You need to talk to her.

0:59.4

You need to talk to her about this.

1:00.7

So she got that kind of passion?

1:05.8

Because if she doesn't, if she's buying this thing to have a job and it's going to be all twisted up if she doesn't get a salary.

1:08.4

Yeah.

1:08.6

They just get a job.

1:09.1

You're doing the wrong thing then.

1:12.1

Okay.

1:12.9

I'm serious, man.

...

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