We Have 3 Small Businesses, But Can't Pay Ourselves

Рет қаралды 81,732

Күн бұрын

We Have 3 Small Businesses, But Can't Pay Ourselves
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
Visit the Dave Ramsey store today for resources to help you take control of your money! goo.gl/gEv6Tj
Did you miss the latest Ramsey Show episode? Don’t worry-we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: kzfaq.info...
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
kzfaq.info...
• The Ramsey Show (Full Episodes): kzfaq.info...
• The Dr. John Delony Show: kzfaq.info?...
• The Rachel Cruze Show: kzfaq.info...
• Anthony ONeal: kzfaq.info...
• The Ken Coleman Show: kzfaq.info...
• The Christy Wright Show: kzfaq.info...
• EntreLeadership: kzfaq.info...

Пікірлер: 275

@mattmurphy88 4 жыл бұрын

Dave Ramsey and Rave Damsey

@paulgabel8261 4 жыл бұрын

Comment of the week

@LinsMusicMinistries 2 жыл бұрын

😂😂😂

@j.o8707 Жыл бұрын

HAHAHAHAH

@chadmontgomery433 Жыл бұрын

Dave is the bald guy with the goatee wearing a blue shirt with the sleeves rolled up 😂

@tylerroberts8105 Жыл бұрын

🤣🤣🤣

@offerskirksey2255 4 жыл бұрын

She was not prepared for this call.

@phaldaz 4 жыл бұрын

No sirrrrr she was not

@mrjav1000 4 жыл бұрын

She wasn't prepared when she went into business. By far one of the most financially and business illiterate callers I've heard

@TheFishingNomad 4 жыл бұрын

She doesn't even know how much she owes on the businesses.

@Guitarlvr01 3 жыл бұрын

She was not prepared to open a business.

@Rocketninja200 4 жыл бұрын

When I saw two Q-balls in blue shirts I blinked a couple of times thinking something was wrong with my vision. LOL

@5yogurt 4 жыл бұрын

I thought there were two Dave's.

@webfreakz 4 жыл бұрын

Twins! 😄

@ericacooley7721 4 жыл бұрын

😂

@MrCander000 4 жыл бұрын

Same here.

@mitshua 4 жыл бұрын

Ah yes. Dave Ramsey and his good friend David Romzee

@marciawade9101 4 жыл бұрын

Lol! 😄

@troytrey 4 жыл бұрын

🤣🤣

@kaylynne1583 4 жыл бұрын

Even they wearing same shirt 😂

@Shalyse1 4 жыл бұрын

😆

@Will_Bryan 4 жыл бұрын

Legit did a double take when I first started watching

@BassPlayer60134 4 жыл бұрын

I bet everyone who knows her thinks she’s really successful.

@adamsaldana5462 4 жыл бұрын

She does the bookkeeping but cant say how much debt the business has

@ShadaeMastersAstrology 4 жыл бұрын

More than likely lying

@JamesJamersonIsAGod 3 жыл бұрын

I'm thinking she says "bookkeeping" when in reality she's just handling the invoices and bills. She's receiving payments from people and paying bills but is definitely not keeping track of what's going where and when and clearly has no idea how any of the businesses are actually doing.

@Essays4College 2 жыл бұрын

Most small business owners don’t know their numbers.

@theelephant2887 4 жыл бұрын

How can you run a business without fully knowing your numbers? She needs to sit down and catch up with all of it.

@jojohns9670 4 жыл бұрын

She's the business owner's wife with no degree or financial training... she's overwhelmed; that's why she's called in. But as the guest said, something IS working in there... they just need a little clean up

@benwhitnell 4 жыл бұрын

I’m a consultant and in the industry this lady and her husband are in, you would be shocked how many millionaires are in the dealership and transportation businesses that have no idea how they got there.

@amorestperpe 4 жыл бұрын

I said the same exact thing, "She's the bookkeeper and she doesn't know the numbers? That's a problem".

@Midge-xn9tp 4 жыл бұрын

Clearly keeps the books but hasn’t written in them

@howlbeast 4 жыл бұрын

Dave even said that

@Essays4College 2 жыл бұрын

Ask most business owners financial stats such as what’s your customer acquisition cost …and their eyes glaze over. Most don’t know their numbers.

@philipanderegg5973 4 жыл бұрын

Thought that was 2 Daves at first glance lol 😂

@Devinfrbs 4 жыл бұрын

She needs an accountant.

@anthonyc362 4 жыл бұрын

Please do more of these and less of the daytime television family infighting, unless the fight is about money. I love these when a business is involved. So many people are insistent that there is no way to run a business without debt.

@crow-vz5lx 3 жыл бұрын

Caller: were in serious debt. Ramsey: ok how much? Caller: I'm the bookkeeper. Ramsey: okay what's your debt? Caller :👁️👄👁️

@ktsterlin9304 4 жыл бұрын

I was told that any business that does not make you money is a hobby, so I agree with all the comments of paying yourself first.

@SteelRhinoXpress 4 жыл бұрын

What about hobbies that make you money, what are they called then?

@ktsterlin9304 4 жыл бұрын

SteelCity1981 “side hustles” or still just a hobby. I think it depends what their end goal is. Some people monetize their hobby just so they can afford to do the hobby then some monetize it because they can see in a few years having it replace their income.

@SteelRhinoXpress 4 жыл бұрын

I know people who make good money doing their hobby so i don't see how it's a side hobby.

@dianaverano7878 Жыл бұрын

My hobby crochet gives me sales. Whatever people call it. I compute the capital vs sales. Sales price is always 2X the capital or more. Anything less, I wont sell it.

@matthewclaiborne229 4 жыл бұрын

Sounds like this ladies books are a MESS. Time to give quickbooks the ol’ “why did I ever start a business?!” over-nighter lol

@fluent_In_finance 4 жыл бұрын

😂😂😂

@kennethb6211 4 жыл бұрын

With 3 businesses it's worth investing in a bookkeeper.

@linkbelt111 11 ай бұрын

She is EXACTLY why most business’s fail. She doesn’t even realize she’s at break even status.

@kirstylynn3723 4 жыл бұрын

Why do people call in and say "uh" and have no idea what the numbers are? They are wasting all our time!

@kayjeffs3741 4 жыл бұрын

Laaawd it was over when she said she's the bookkeeper and don't know how much debt they had...

@konye618 4 жыл бұрын

She needs help, like all of it. Send her all the books, all the elp providers. She has no clue what is going on

@carojames6776 4 жыл бұрын

She also needs an Accountant.

@MG-vh5bj 4 жыл бұрын

As the bookeeper, she should have been able to tell him the combined debt down to the penny.

@Dark.MapleSyrup 4 жыл бұрын

She has zero answers. Girl you don't need help you need to pay attention to what's happening under your nose. You literally have no clue

@georgeabek7603 4 жыл бұрын

Don't expand the business when it's not profitable.

@suttsd 4 жыл бұрын

Lots of business expand rapidly before being profitable nd it works.look at amazon and look at tesla

@mortalhordewarrior9285 4 жыл бұрын

@@suttsd those are the exceptions that made, how many do you think fail and end horribly? Musk and Bezos are the exceptions

@codybullington2015 4 жыл бұрын

@@mortalhordewarrior9285 how do you know if you are the execption until you try the world would be different without Amazon and tesla thank God they, who were just average guys at the time, laughed in the face of common convention

@Pallanos7 4 жыл бұрын

@@suttsd thinking about it gives me already headache.

@Pallanos7 4 жыл бұрын

@@mortalhordewarrior9285 I think so.

@AmericaDarshan 4 жыл бұрын

*I thought that something was wrong with my eyes Two Dave Ramseys*

@adrianchivas2014 4 жыл бұрын

Business Owner: Do you know what it means when all our financial statements are in RED? Business Assoc: That we need to change our ink cartridges. 😐

@Pallanos7 4 жыл бұрын

LOL! Exactly, what else? LOL

@cameronsantiago3155 4 жыл бұрын

Sell all three. It does not sound like they know what they are doing.

@briannefowler 4 жыл бұрын

They have some great advice to work with now!

@VeniceK 4 жыл бұрын

Or hire professionals in some areas. Like the book keeping. She doesn't sound like a math person or detailed oriented. She couldn't answer any questions.

@fluent_In_finance 4 жыл бұрын

@@VeniceK 😂😂😂

@adamsaldana5462 4 жыл бұрын

They even wore the same outfit

@jomontanee 4 жыл бұрын

Mini me?

@minkaaa7 4 жыл бұрын

Whoa, who's the Dave look-alike?!

@dogan6070 4 жыл бұрын

Lol

@TheOpticGunsmith 4 жыл бұрын

Most likely his son

@jrwntctv8091 3 жыл бұрын

Daniel Tardy, who is the host of the Entreleadership podcasts.

@et1016 4 жыл бұрын

She’s the bookkeeper and she’s clueless. 😩😩😩

@stephenparsons6011 4 жыл бұрын

The sole purpose of a business is to make a return for the owners. This is accomplished through planning and management.

@alextogo8367 4 жыл бұрын

That's why there on debt. Can't even keep track.

@bravehats 4 жыл бұрын

They needed an accountant to run the numbers for that company. That's why they are in a mess.

@alexanderpanteleev5520 4 жыл бұрын

I almost got a heart attack when I saw 2 Daves

@Antilleslucayan 4 жыл бұрын

@@MarshWasTaken me too!

@ethangamer3173 4 жыл бұрын

Double serving of rice n beans

@Essays4College 2 жыл бұрын

How was he able to clone himself???

@JB-kx9bx 3 жыл бұрын

I could never be an entrepreneur, I'll take a steady paycheck with benefits where I learn and use marketable skills. I do have mad respect for people who can pull off their own businesses.

@dungeonmaster6292 Жыл бұрын

You're soul is broken

@mrgeorgeburdell 2 жыл бұрын

"I do the book keeping, but I don't know how much debt we have." YIKES!

@paulcosta941 4 жыл бұрын

Great advice, I'm surprised that she didn't come to the same conclusion on her own. She desperately needs a disinterested professional Third party to go in and determine what needs to be done, You can't just run a business on a wing and a prayer, the current business environment is too complicated and unforgiving for that. Good luck to the Lady and wishing her better days ahead.

@briannefowler 4 жыл бұрын

I could hear her voice get lighter every time he said property debt could be addressed later in baby step 6!

@prateekbohra7610 4 жыл бұрын

Lol I flinched for a second and thought 2 Dave Ramsey for the price of One

@ransom182 4 жыл бұрын

Yikes that's scary, get your books in order!

@JadeTrading 4 жыл бұрын

Another great advice. Thank you for sharing 🙏

@actuallyterry 3 жыл бұрын

I was listening to this without looking at the screen. I havent seen this guy with Dave before .

@ftmb24 3 жыл бұрын

They even crossed arms at the same exact time!

@christiantoti6907 4 жыл бұрын

I HATEEEEE when people say “I don’t know” as when she was asked how do they pay their bills. Some people logo around life clueless 😠😠

@mariewilson345 4 жыл бұрын

Okay......I can't tell which one is Dave Ramsey!!! LOLOLOLOLOL

@matthewgoss7959 4 жыл бұрын

I’m scared that she doesn’t know any numbers. It makes me anxious.

@JesusCervantes-vl4mb 3 жыл бұрын

Awe matching shirts ❤️

@elmateo77 4 жыл бұрын

This lady better hope the IRS doesn't see this video, cause it sure sounds like she filed her taxes incorrectly.

@PictureItPF 2 ай бұрын

This is exactly the kinds of clients I serve. People see that they have positive net income, but don’t know why they have no cash. They can’t pay themselves, they are nervous and usually embarrassed. Good for her to have the courage to even call in!

@vaderwashere365 4 жыл бұрын

Thank you for the video Dave! This lady needs a course on how to run a small business, not personal finance from Dave. Running 3 businesses with a self-taught bookkeeper? Is there any wonder why they are in trouble? They have amazing drive to make a business, but badly need someone who actually knows business. Also, how are they setting any prices if they don't know what they make, owe, spend or profit?

@abepenner7497 4 жыл бұрын

The answer is that the market sets the prices. Hourly shop rate to match a competitor, and the trucking is most likely a lease/subcontract where the supplier of the work decides rates. Dave Ramsey is CEO of Ramsey Solutions, he's perfectly capable of giving business advice. I also have been in a similar situation, scratching and clawing, working 80 hours a week and not sure how much was profit. Dave's book Entreleadership gave me the inspiration to tackle the books, and even do a business budget.

@vaderwashere365 4 жыл бұрын

@@abepenner7497 I stand corrected. I have audited many businesses that set their own prices with less competition. Usually if the competition is so successful they make you operate at a loss for an extended amount of time, you get the hint and do something profitable, or at least know if you are profitable or not. Since you know she has competition locally, you have more info than was given to us. I am glad Dave gave you inspiration to figure out the books of your business, but the same money can be used for industy specific advise. Yeah, there are basics that any bookkeeper should know, but she doesn't know and she didn't even use Google. Thousands of bookkeeper tutorials online and here on KZfaq. Good luck in the future and hope you are able to work more reasonable hours. I hope your story and the caller's story are a lesson to others. It would be so much easier to find out the basics of how to run a business before you are in trouble. You will learn on the way, but understand the basics. Put in the grit and work at the beginning, and you don't have to struggle for years like Abe or the caller.

@howlbeast 4 жыл бұрын

How can she be a bookkeeper but doesn't know the numbers? And she said she been working on the books since Feb and we're in June. I suspect all businesses are under 1 bank account so the numbers are confusing her.

@mr.kennedy685 4 жыл бұрын

The fact they're wearing the exact same shirt makes it funnier.

@RickImus 2 жыл бұрын

I'm kind of shocked they let her finish the sentence, "should we have a budget for..." Marcus Lemonis would say, "If you don't know your numbers, you don't know your business."

@1962pjb 4 жыл бұрын

Cyborg Dave and Dave. 😂

@ziddi2603 4 жыл бұрын

I have an idea. Get rid of two of the businesses and get GREAT with one business!

@quevidalamia1081 4 жыл бұрын

She sounds overwhelmed and unprepared. The first 5 years of a buisness are hard to turn a profit multiply that by 3 and its an uphill battle. Having a degree in accounting is helpful but not a must but having knowledge how to run a bussiness is a must if you don't know hire a professional or educate yourself. I wish her all the best as a buisness owner and a diy its stressful but doable. Knowledge is power.

@DylanTalksMoney 4 жыл бұрын

Your mindset is the greatest asset you'll ever have that can make you rich!

@racpatrice 4 жыл бұрын

Dave and his "twin" look like they're wearing the same shirt too lol

@TheFishingNomad 4 жыл бұрын

How does the person who does the bookkeeping for a company not know how much debt the company is in?

@Gus_Chiggins 4 жыл бұрын

She does the bookkeeping... 👌

@blubbness 4 жыл бұрын

she does the bookkepping and she had to GUESS how much debt the businesses have? i´m not surprised its not working out

@katrieladolphus920 4 жыл бұрын

Who was shocked when the video started. "I didn't know Dave Ramsey had a twin 😅"

@jmossbernee1045 4 жыл бұрын

What are the numbers 🤔 uh 😳 I don't know 😕 exactly but I do the books 🤦‍♂️.

@lmnop3023 3 жыл бұрын

Dave invited himself to the show

@freewifi7163 4 жыл бұрын

God Bless America. Where you can stumble backwards into starting and running three business. Without knowing anything 😂

@ominous450 3 жыл бұрын

The "accountant/bookkeeper" needs an accountant

@Sexy40baby1 4 жыл бұрын

Horrible book keeper

@harrisl.7924 4 жыл бұрын

I like the Vice President! He's a good compliment to Mr. Dave.

@justinlopez4499 4 жыл бұрын

I have 4 trades under one bizz. Move money wherever it is needed! If a truck breaks down then use rental biz to keep it going vise versa! More business means more money 💰

@bosshismoney4424 4 жыл бұрын

Pay yourself first even as you pay debt, that is my rule. Please track ALL your debt don’t guess.

@45138449 4 жыл бұрын

I don't really understand why these people start a business, especially 3 of them, when they simply can invest in the stock market through Indices, receive a decend return annually without lifting their finger and without any risk? And apart from that, they decide to do it, why they don't educate themselves first, read a book or two, ask people that have done what they want to do to give them tips and advices, etc? What you know makes you money, what you don't loses you money!

@danmiser9974 4 жыл бұрын

Good logical advice on real estate debt... I don't think I have heard that from dave. But I like it. Real estate has done me well and I have leveraged the whole way.

@hannahsharitz702 4 жыл бұрын

What is your opinion on Dr. Jo Jorgensen plans for social security and the national debt?

@jojohns9670 4 жыл бұрын

OK.. so Daniel Tardy got it. Best co-host I've seen so far.

@fluent_In_finance 4 жыл бұрын

😂😂😂😂 & I thought I was a mess 😫😳.

@erichchan3 4 жыл бұрын

How is she the bookkeeper and doesn't know the numbers for any of the businesses? I hate it when people blame on them not having a college degree as an excuse for not knowing the numbers. You don't need a business degree to be able to fill out a spreadsheet with your income and expenses. If she can't figure out the numbers on a business there is no way she is capable of setting up a household budget. In this case I also put equal blame on the husband because it seems like he is not involved with the finances of the business.

@anthonya2479 4 жыл бұрын

Next call from husband saying my wife is ruining my business, she doesn't know what the heck she's doing.

@fenomfangx 8 ай бұрын

The husband needs to fire the "bookkeeper" because she will bankrupt them. They need to have someone qualified look at the books and see IF they have 3 businesses, 3 hobbies , or a combination. Dump what doesn't make money, if the rest is worth it keep going, if not dump it all and work for another company.

@v.m.4453 2 жыл бұрын

The voice on that new guy. ... Smooth...

@cato451 4 жыл бұрын

every business must stand on its own. If they don’t produce profit then dump them.

@steve_Above_and_Beyond 4 жыл бұрын

In my humble opinion, she’s not the true business owner in the true sense of the title, the husband obviously is. He’s just keeping her busy and feeling apart of things by allowing her to keep the books. She doesn’t even have a true understanding of how the businesses are claiming losses to be written off of the taxes. Sounds more like the wife heard “claiming a loss”, freaked out thinking her husbands businesses were loosing money and called 911-Dave Ramsey.

@deanalbertson7203 4 жыл бұрын

You need to have an automatic revenue stream from your businesses to yourself, in order to pay your own bills.

@natalyakusmiy-sanders8228 Жыл бұрын

How do I reach out to you to get help with small business 🤔 where do I find this information

@mimih23 2 жыл бұрын

Who is he? His voice is amazing!!😍😍

@lysacangialosi607 4 жыл бұрын

I literally thought something was wrong with my eyesight for a second. Seeing double😂

@franciscozamudio8155 4 жыл бұрын

I looked askance at my screen and thought there were two Daves

@ChrisVincelli 4 жыл бұрын

Always PAY YOURSELVES FIRST!!

@a-youngrocky8541 4 жыл бұрын

I would like to know if she has credit card debt, particularly business credit card debt. If so, then they may really be screwd

@jomontanee 4 жыл бұрын

This is not about not earning enough to pay yourselves anymore. It is about financial mess. She expanded businesses without any plans, any accountings. No clue how much she makes money, how much debts. Sigh...

@lexieshores3889 4 жыл бұрын

If she doesn't know her numbers, she may not understand depreciation. And might not have taken depreciation as a non-cash deduction on the tax return.

@greenAbbot 4 жыл бұрын

Maybe if she starts a fourth business, it could bail out the first three...

@twincherry4958 4 жыл бұрын

Needs a CPA and someone that can manage their businesses and learn from them.

@chembiz 4 жыл бұрын

They're probably having her do the books to save money on a cpa/accountant, but they don't understand that they are losing bc the wife has no idea about accounting/books. I can only imagine what would happen if the bank wanted audited financial statements as a condition of a loan.

@jkpropertymanagers 4 жыл бұрын

New business owners need to pay themself minimum wage per hour for the amount of hours they work each week. They can use a payroll calculator.

@anthonyc362 4 жыл бұрын

He could pass for Dave's younger brother.

@mentalduplex6033 4 жыл бұрын

Twin Daves!

@carojames6776 4 жыл бұрын

Two for the price of one!

@prateekbohra7610 4 жыл бұрын

@@carojames6776 lol

@solomonsam8927 4 жыл бұрын

why she lyin’

@nevoyu 4 жыл бұрын

I had to take a moment and realize that there were not two Dave Ramsey's here.

@easttnlawncare6740 3 жыл бұрын

If you own a business and you don't know the numbers that is very dangerous

@matthewkepa-rundell939 Жыл бұрын

Why call Dave for advice if you can't even gather all the numbers ready before the phone call.....

@offgridjack5779 3 жыл бұрын

She needs to FIRE herself and get a REAL bookkeeper!! She is way over her head.

@et5895 3 жыл бұрын

Yes but even then, she should still know her own businesses numbers. Her & hubby. But who cares let's open another!!

@Sonic2Chronicles 3 жыл бұрын

Dave Ramsey and Ram Davesey

@jeanlenor1858 4 жыл бұрын

I didn't know Dave had a twin brother.

@huskiefan06 4 жыл бұрын

😂😂😂

@funstuff9153 4 жыл бұрын

Why are they wearing the same shirt? Lol

@kirapoodle 2 жыл бұрын

@@funstuff9153 And same beard style

@marge3863 4 жыл бұрын

Omgoldfish! This is us! Ranch and trucking.