Latest news with #EntreLeadership
Yahoo
06-08-2025
- Business
- Yahoo
Dave Ramsey Weighs In: From $160K To $1.1M With Four Employees, A Contractor Is Struggling To Find Electricians Who Don't Drink Or Do Drugs On The Job
Growing a business from six figures to over $1 million in revenue is no small feat. But for Tyer, a small electrical contractor in Manchester, New Hampshire, success has brought a new kind of challenge: finding licensed electricians who not only know the work — but also show up sober, stay focused, and share his customer-first mindset. Tyer called into Dave Ramsey's "EntreLeadership" podcast recently to ask a question that many small business owners struggle with: How do I find qualified workers who don't drink or do drugs on the job? Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— Success Came Fast — But Staffing Became a Setback In just one year, Tyer's business grew from $160,000 to $1.1 million in revenue. But behind the numbers, trouble was brewing. "I had to fire two of them," he said, referring to his original team of four. The issue wasn't skill — it was behavior. "The issue is they don't fit my culture," he explained. "Customer satisfaction is my number one priority." Ramsey agreed that the challenge is real. "You're looking for the top 10 to 20% of human beings walking around out there with an electrician's license," he said. "There's more donkeys than thoroughbreds, man." Hire Slow, Fire Fast — And Build a Solid Culture Rather than settling for anyone with a license, Ramsey urged Tyer to stay the course. He said the kind of high-character people Tyler is looking for do exist, they're just harder to find. Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Ramsey encouraged Tyer to focus on building a workplace that attracts the right kind of people — even if that means slowing down growth. "I would grow slower rather than grow fast and have to do it over and over again," Ramsey said. Why Workplace Culture Matters More Than Perks While Tyer mentioned he can't compete on benefits — he offers a 401(k) without a match and no health insurance — Ramsey believes culture is a stronger pull than compensation. "I have never overpaid intentionally to hire someone," he said. "You want people to join this team. They want to be treated like family. They want to be treated with dignity." According to Ramsey, creating a workplace where employees feel respected and supported can be more effective than simply raising wages. "We've developed this reputation as being an excellent place to work," he said of his own company. "And you can develop that exact kind of thing in the world of construction, in the world of an electrician."Thoroughbreds Know Where to Find Each Other Once you have a few great employees, Ramsey explained, they'll help you find more. "Thoroughbreds run around with thoroughbreds," he said. Over time, Tyer's company can become known as the place to work — where the job gets done right and the team looks out for one another. For now, Ramsey advised patience. "You can do this, and you need to do it the right way," he said. "You're going to have a better life if you do it the right way." Read Next: If there was a new fund backed by Jeff Bezos offering a ? Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Weighs In: From $160K To $1.1M With Four Employees, A Contractor Is Struggling To Find Electricians Who Don't Drink Or Do Drugs On The Job originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-07-2025
- Business
- Yahoo
Dave Ramsey Says Tariffs Are A Lot Of Saber Rattling, Grenade Throwing And Chaos, But Actual Net Result Is Zero
A Canadian entrepreneur joined personal finance personality Dave Ramsey's 'EntreLeadership' podcast recently to talk about his company's expansion into the U.S., just as President Donald Trump threatens to impose new tariffs on Canadian goods. The timing couldn't be more tense. Entrepreneur Worries About 35% Tariff As U.S. Sales Surge The guest, who runs a DIY log cabin kit company in Ontario, Canada, said his business did CA$12 million—$8.8 million—in sales last year with CA$1.5 million in profit. They manufacture in Canada and already ship to 40 U.S. states. U.S. sales now account for about 40% of the company's volume and are growing fast, while Canadian sales have flatlined. Don't Miss: —with up to 120% bonus shares—before this Uber-style disruption hits the public markets Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — 'American production was still on the roadmap. It was more of like a 2027 or maybe 2028 issue, and now it's like, okay, do we fast-track it?' the entrepreneur said, noting concerns over possible tariffs. That concern became more urgent after Trump announced on Truth Social on July 11 that a 35% tariff on Canadian goods would take effect Aug. 1, citing fentanyl concerns and retaliatory trade actions by Canada. 'Canada's failure to stop the drugs from pouring into our country' was one reason Trump gave in a letter to Canadian Prime Minister Mark Carney. Carney pushed back the same day. 'Canada has made vital progress to stop the scourge of fentanyl in North America,' he posted on X. 'We are committed to continuing to work with the United States to save lives and protect communities in both our countries.' Trending: $100k+ in investable assets? – no cost, no obligation. Ramsey: Don't Panic. Stick To The Plan. Ramsey had a straightforward take on the tariff threats: 'So far it's amounted to a lot of chaos over nothing.' He added, 'Most of what I've seen on the tariff stuff so far... a lot of saber rattling, a lot of grenade throwing, but actual net result is zero.' Ramsey advised the entrepreneur to stick with his original plan of opening a U.S. factory in 2027 rather than rushing to avoid potential costs. 'If you get in a hurry and you do this poorly, it's going to end up costing you more,' he said. The entrepreneur noted that building a new facility would take at least 12 months from ordering equipment to full operation. Ramsey warned him that panic moves in reaction to political turbulence could backfire. 'You're going to join this crazy chaos rush thing and you're probably going to end up overpaying for some stuff just to get the thing set up,' he said. 'Which would make you wish you paid a small tariff.'Trump's broader trade push includes new letters to more than 20 countries. The remaining countries will likely face tariffs of 15% to 20%, which is above the current 10% baseline applied to most imports. Canada is the U.S.'s largest trading partner. Though Trump has framed the moves as necessary to revive U.S. manufacturing, economists warn they could raise prices and slow growth. Still, Ramsey seemed confident the current threats won't derail smart long-term planning. 'I think you've done a really good job of critical thinking on this,' he said. 'And you're doing a really good job running this business.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Says Tariffs Are A Lot Of Saber Rattling, Grenade Throwing And Chaos, But Actual Net Result Is Zero originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
19-07-2025
- Business
- Yahoo
Dave Ramsey Says Tariffs Are A Lot Of Saber Rattling, Grenade Throwing And Chaos, But Actual Net Result Is Zero
A Canadian entrepreneur joined personal finance personality Dave Ramsey's 'EntreLeadership' podcast recently to talk about his company's expansion into the U.S., just as President Donald Trump threatens to impose new tariffs on Canadian goods. The timing couldn't be more tense. Entrepreneur Worries About 35% Tariff As U.S. Sales Surge The guest, who runs a DIY log cabin kit company in Ontario, Canada, said his business did CA$12 million—$8.8 million—in sales last year with CA$1.5 million in profit. They manufacture in Canada and already ship to 40 U.S. states. U.S. sales now account for about 40% of the company's volume and are growing fast, while Canadian sales have flatlined. Don't Miss: —with up to 120% bonus shares—before this Uber-style disruption hits the public markets Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — 'American production was still on the roadmap. It was more of like a 2027 or maybe 2028 issue, and now it's like, okay, do we fast-track it?' the entrepreneur said, noting concerns over possible tariffs. That concern became more urgent after Trump announced on Truth Social on July 11 that a 35% tariff on Canadian goods would take effect Aug. 1, citing fentanyl concerns and retaliatory trade actions by Canada. 'Canada's failure to stop the drugs from pouring into our country' was one reason Trump gave in a letter to Canadian Prime Minister Mark Carney. Carney pushed back the same day. 'Canada has made vital progress to stop the scourge of fentanyl in North America,' he posted on X. 'We are committed to continuing to work with the United States to save lives and protect communities in both our countries.' Trending: $100k+ in investable assets? – no cost, no obligation. Ramsey: Don't Panic. Stick To The Plan. Ramsey had a straightforward take on the tariff threats: 'So far it's amounted to a lot of chaos over nothing.' He added, 'Most of what I've seen on the tariff stuff so far... a lot of saber rattling, a lot of grenade throwing, but actual net result is zero.' Ramsey advised the entrepreneur to stick with his original plan of opening a U.S. factory in 2027 rather than rushing to avoid potential costs. 'If you get in a hurry and you do this poorly, it's going to end up costing you more,' he said. The entrepreneur noted that building a new facility would take at least 12 months from ordering equipment to full operation. Ramsey warned him that panic moves in reaction to political turbulence could backfire. 'You're going to join this crazy chaos rush thing and you're probably going to end up overpaying for some stuff just to get the thing set up,' he said. 'Which would make you wish you paid a small tariff.'Trump's broader trade push includes new letters to more than 20 countries. The remaining countries will likely face tariffs of 15% to 20%, which is above the current 10% baseline applied to most imports. Canada is the U.S.'s largest trading partner. Though Trump has framed the moves as necessary to revive U.S. manufacturing, economists warn they could raise prices and slow growth. Still, Ramsey seemed confident the current threats won't derail smart long-term planning. 'I think you've done a really good job of critical thinking on this,' he said. 'And you're doing a really good job running this business.' Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Says Tariffs Are A Lot Of Saber Rattling, Grenade Throwing And Chaos, But Actual Net Result Is Zero originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-07-2025
- Business
- Yahoo
Son Wants To Cash Out On Dad's $6 Million Business. Dave Ramsey Brings Up A Teary Man Who Regretted Selling For $400 Million
A 26-year-old business owner called recently into Dave Ramsey's 'EntreLeadership' podcast with a tough decision: sell the family business for millions or keep building what his father started. Dan co-owns a New York-based restaurant cleaning company with his 65-year-old father, who founded the business and is now ready to retire. The company brings in $4.75 million annually and employs 80 cleaners. After years of working together, a big competitor has offered to buy them out for $6 million. The offer includes $4.5 million in cash and $1.5 million in rollover equity, along with a leadership role for Dan to run the acquiring company's New York City operations. Don't Miss: Maximize saving for your retirement and cut down on taxes: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Dan said he and his dad would split the proceeds evenly. 'It's more money than either of us have ever seen,' he admitted. Ramsey told Dan to think beyond the immediate windfall. 'One of the decision-making formulas I use is I get out of the moment and I extrapolate out decades,' he said. 'When you're 56, and you look back on your life, how are you going to feel about the 26-year-old version of you?' Dan said he hadn't considered that. 'I never really thought that far out into the future.' He knows that, invested properly, that chunk of change could be worth several million more down the road. Ramsey agreed the math made sense: 'If you put $2 million in your pocket at 26, it's not a bad day.' Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Still, he cautioned against chasing a payout just because it looks good on paper. 'I've known people who got hundreds of millions of dollars for selling their business, and the only thing they got other than that was wishing they didn't sell it,' he said. He told the story of a man who sold his company for $400 million but later called it 'the dumbest thing I ever did,' crying because the company lost its soul under new ownership. 'Selling something for a big chunk of change is not always something that is without regret,' Ramsey added. But he didn't think Dan would fall into that trap. 'This is an excellent exit for [your dad] and an excellent on-ramp for something else for you,' he said. 'I think you do this.' Still, he left listeners with a straightforward reminder: 'Just because you get a pile of money doesn't mean automatically we need to do it.' Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Here's what Americans think you need to be considered 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Son Wants To Cash Out On Dad's $6 Million Business. Dave Ramsey Brings Up A Teary Man Who Regretted Selling For $400 Million originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
21-06-2025
- Business
- Yahoo
A Small Store Owner Struggles As Staff Constantly Call Out Sick Or Care For Family. Dave Ramsey Says Corporate America Would Just Fire Them
When a small business owner called into Dave Ramsey's 'EntreLeadership' podcast recently, she didn't talk about marketing, sales, or profits—she asked for help dealing with something more personal: what to do when too many employees are out for weeks at a time due to illness or family emergencies. With nine employees and around $700,000 in annual revenue, the specialty retail and race timing business owner told Ramsey she's struggling with multiple extended employee absences. 'It'd be one thing if it were one person, but it's multiple,' the owner said. 'And I'm just a small retail store.' Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Ramsey, who has run businesses of all sizes, told her, 'At your size, you can only absorb so much of it in the name of grace. And then you can't continue to absorb it all because you won't have the money to pay the people that are there because the work's not getting done.' He sympathized with her desire to be kind and flexible, but said the numbers don't lie. 'My grace can only go as far as the math allows it.' Ramsey explained that in his own company, they sometimes pay employees out on extended medical leave, but that luxury comes with scale. 'When I was your size, I couldn't do that. I didn't have the money to do that.' The small business owner clarified that her team members aren't lazy. 'None of them I would look at and go, 'Oh, you're slacking.'' Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Still, Ramsey didn't pull punches. 'Corporate America will fire their butt with no feelings,' he said. 'At least you got feelings.' 'Welcome to leadership. Sometimes it's hard... because small business people like you and me, we care about folks, we don't just cut their throat,' Ramsey noted. He recommended setting a clear policy: allow three weeks of PTO, and then no more than one month unpaid. Beyond that, the position likely needs to be filled. 'You're just never here, so we probably ought to call it out loud and say that,' he said. 'I feel bad for you, but I also can't go on not getting this work done.'Ramsey said leaders can make exceptions when they feel truly called to support someone long-term, but added, 'That's a rare exception.' His closing reminder: 'The good of the whole outweighs the good of the one. When you can't afford to do it, you can't afford to do it. That's not evil, it's just the stage of business you're at. I'd like to tell you it gets easier. It gets more complicated, is all it gets from here.' Read Next: The average American couple has saved this much money for retirement —?Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article A Small Store Owner Struggles As Staff Constantly Call Out Sick Or Care For Family. Dave Ramsey Says Corporate America Would Just Fire Them originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
