Why Making a Profit Isn’t Enough to Survive in Business

Video Description

Today we’ll hear about: • A business owner who made $8 million last year but is going broke • The best way to structure bonuses for your team that doesn’t negatively affect your profits • Someone wanting to buy a gym, but the current owners aren’t being honest • What to take into consideration when determining how to pay yourself as the owner of a business Links mentioned in this episode: • The EntreLeadership Podcast: https://bit.ly/TheEntreLeadershipPodcast • Stages of Business Assessment: https://ter.li/pkurwg • 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/3ktHxiM Support our sponsors: • NetSuite: https://bit.ly/NetSuiteEntre • BELAY: https://bit.ly/351P9AE • Payority: https://bit.ly/3IaA5SK • Trainual: https://bit.ly/3EbBEgc Learn more about EntreLeadership Events: • EntreLeadership Summit: https://bit.ly/EntreLeadershipSummit • EntreLeadership Master Series: https://bit.ly/EntreLeadershipMasterSeries Learn more about EntreLeadership Coaching: • Elite: https://bit.ly/3tI2fN8 • Advisory Groups https://bit.ly/EntreLeadershipAdvisoryGroups • Executive Coaching: https://bit.ly/EntreLeadershipExecutiveCoaching • Workshops: https://bit.ly/EntreLeadershipWorkshops Find out what stage of business you’re in and what you can do to level up with our Stages of Business Assessment: https://ter.li/pkurwg 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 - Store: EntreLeadership: https://store.ramseysolutions.com/business-and-career/books/entreleadership/?utm_source=youtube&utm_medium=merch_shelf EveryDollar Premium Version Physical Gift Card: https://store.ramseysolutions.com/money/tools-and-apps/everydollar-premium-version-physical-gift-card/?utm_medium=product_shelf&utm_source=youtube Delegation Quick Read: https://store.ramseysolutions.com/business-and-career/books/delegation-by-dave-ramsey/?utm_source=youtube&utm_medium=merch_shelf New! Get Clear Career Assessment: Find the Work You’re Wired to Do: https://store.ramseysolutions.com/business-and-career/books/get-clear-career-assessment-by-ken-coleman/?utm_medium=product_shelf&utm_source=youtube The Momentum Theorem Quick Read: https://store.ramseysolutions.com/business-and-career/books/the-momentum-theorem-by-dave-ramsey/?utm_source=youtube&utm_medium=merch_shelf Baby Steps Millionaires: https://store.ramseysolutions.com/money/books/baby-steps-millionaires/?utm_medium=product_shelf&utm_source=youtube Total Money Makeover: https://store.ramseysolutions.com/money/books/the-total-money-makeover-by-dave-ramsey/?utm_medium=product_shelf&utm_source=youtube Building a Non-Anxious Life: https://store.ramseysolutions.com/personal-growth/books/building-a-non-anxious-life-by-dr-john-delony/?utm_medium=product_shelf&utm_source=youtube 2025 Ramsey Goal Planner: https://store.ramseysolutions.com/personal-growth/books/ramsey-goal-planner/?utm_medium=product_shelf&utm_source=youtube Breaking Free From Broke: https://store.ramseysolutions.com/money/books/breaking-free-from-broke-by-george-kamel/?utm_medium=product_shelf&utm_source=youtube