We Lost our $3.5 Million Business
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- Опубліковано 5 тра 2024
- Today we’ll hear about:
• Business owners need to start over after their partner stole their clients
• A business partner wants to continue getting paid, but hasn’t worked in 4 years
• A business owner struggling to fire his top team member for not following policy
• A business owner that has no idea what to do with an extra $500k in savings
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"The other partners left and took all the clients and now we don't have a clue what to do for ourselves" ....is it just me or does it sound like she and her husband were the dead weight in the business that got pushed out by the other successful productive partners?
Nahhh, we don't know that. They did make mistakes, growing to fast with only three big clients. But dead weight?
It’s just you
Considering the partners where the mentors and the husband was the mentee, and they have only been working with one potential client in the mean time it's very possible. If not however, the clients that the partners "stole" will work that out eventually.
@tate6809 I heard the same thing. I believe anybody who has real world experience growing and/or operating a business would hear the same thing. In the real world you have to claw and scrape your way into profitable deals. If it were easy, it wouldn’t be that profitable. This caller sounds like she may be hurting herself with self-pity. Nobody “steals” your clients; they just leave.
@@Imbadatgolf that last sentence says it all. Nobody steals your clients; they just leave. They will hire whoever does the best job.
No-one can "steal your clients/customers...." Clients/customers Leave when they find a better deal/offer....!!!
The second caller was eye opening. You can't 100% trust your family in business. Things can change over time. Get paperwork from day one !!!
“Your Ex-Partners are living rent-free in your head”. That is gold. To get over being wronged I have to own my part in the process whatever that was.
Dave’s advice on focusing on rebuilding trust and securing new clients is crucial for anyone restarting their business journey. It highlights the importance of resilience and adaptability in leadership, especially after facing setbacks. 👍
I had a non-business experience with best revenge reminder of it the other day. Two Old evil weebils pretty much drove my husband and I from our old neighborhood. 11 others left the hood because of them so we were hardly alone. I had 4 years of the best time of my life looking for houses. I lived on zillow and still love it. I found parts of my city that I'd never seen before and found a warm, loving nearly perfect area in a house that's all one level to age in place. And we bought at a good time and our house is now worth double what we paid. They did us the biggest favor by ooking us out of our complacency. The other day I cut through there and saw them walking their dogs. Time has ravaged them and their houses look demo ready. Uh huh. Thanks Ladies and thank You Lord for the glimpse into the true them.
Success depends on the actions & steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investments..
I'm glad I got into crypto when I did because it's been a turning point for me financially, been my best decision so far.
Inspiring! Do you think you can give me some tips on how to invest in a healthy way like you are doing now?
I will advise you to stop trading yourself if you keep losing. I didn't trade alone anymore, I always needed help and assistance.
Bitcoin has been rising for a while and could rise again. The truth is that no one knows, I think this is the right time to buy and also get a professional assistant
Yes!! That's exactly who she is, Wendy Lee Olson. Many people have praised it and I am just starting out with it from Australia 🇦🇺
At my work they are pretty lenient with when you show up in the morning, understanding with appointments, etc. because everyone is working WAY more than 40 hours a week. (I get in at 8:30 after dropping my daughter off at school)
If my supervisor demanded I be at work at 8:00 everyday I'd say "Yes Sir, absolutely, whatever you need." I'd be in by 7:45 am and I'd be walking out the door at 5 every day.
Our leaders are smart enough to know that you don't bust someone's balls for being 30 min late in the morning when they are putting in 60+ hours a week.
2 weeks ago we had deadlines to meet for several projects and I was working 14 hour days. I had 40 hours in by Wednesday. Salary, no paid overtime. Hell I've worked 90+ hour weeks for over a month before. Wife was pissed but it earned me a massive raise and a promotion.
That's great! Until you burn out.....and then your company will dump you in a HEARTBEAT! Must be MAD to do what you're doing.
@bobjames6622 , my salary is paid for by me bringing in my own contract work.
Yes, it is stressful sometimes, but I'm also in charge of my own destiny, so to speak. If I stop bringing in work... then that's on me.
I would never be fired without some significant cause.
thank you Dave. I've been facing all these problems.
We choose to learn from our past. Live in the present. And look to the future with hope and love. 😊
I’m listening to each and every episode of Entreleadership. I learned quite a lot, and love it .
Thanks Dave ❤️🙏🏻❤️
You play a great role in helping entrepreneurs and business owners, thanks again.
Great Episode Dave really liked what you had to say.
All the advice from Dave on this episode was totally spot-on 👍
Thank you Sir
I wonder if with the high preforming recruiter on PIP, if she could work with someone that is good with documentation . It might allow her to add more value where she does it best.
There's a lot shes not saying about why the business went down.
I agree.
Or what the industry is...
Hello sir I am a 32 year old disabled man. My sister conned me by doing a word of mouth agreement and signing a document stating I was putting 9.5k into a house with her for mutual ownership. She never put the title in both our names, locked me out, and in 5 years has only paid back 1.9k and hasnt paid in over a year.
Please I need advice
She's a criminal. You need to pursue her in court.
Sorry to hear about what your sister did but you need to sue her she is toxic. NEVER trust anybody, not even family.
You need to sue her, she is a crook. Do not trust ANYBODY not even family and keep your finances to yourself.
Things like this happen all the time. Employees learn the business and go off on their own. It’s nothing new, it’s part of the business world.
Stealing clients along the way
I love listening to Dave. He really grasps so many aspects about business. Every time I listen I learn something helpful and am also fired up to get my day started.
"my brother likes this set up" 🤣🤣🤣well off course, he gets paid to do nothing
I'd love a what happened next for Jeff from Bowling Green and his brother.
They seem to have fallen into a niche where they had 3-4 built in clients and it didn't take any effort to grow the business (it took work but not effort) either luck, timing, or some combination there of. There is a big difference in succeeding when you have to battle to win vs the easy road they had the first time around. They need to do soul searching and decide do they have the skill and drive to build it back, an honest assessment, and if they do then commit and build it, if not move to a new industry or get a 9-5.
34 employees with only 3.5 million revenue revenue is not great margins….
May be not all were full time employees.
@@codegeek-il5fm she even said they acquired all those employees within a span of three months. Kind of confirms they didn’t understand staffing requirements and just hired for the sake of hiring
@@codegeek-il5fm 2 to 35 team members in 3 months.
learn from the past and grow through the experience in the future decisions
That was my first thought too esp. in LA. The last company I was with was about the same size and grossed well over $5 mil. $1 mil only covers payroll, worker comp., etc for about 10-12 employees
First time listening to this podcast and it is great
Like a previous company i worked for the owner hired his nephew, the nephew worked there for 8 years and then took all contacts and started his own company with a coworker while the owner was passing away & still being on the company payroll. Both the guys divorced their wives, treated everyone like garbage and would laugh when they fired employees. They're still in business today and I've never seen such a toxic environment all for the pursuit of money. Why are people like this blessed financially?
Mm probably because god is not a real thing and there is no reason for anything to be fair lol
Simple… Because they work hard and talk a good game.
Because $$$ is the most important thing,,yes even more important than people
Don’t worry, you don’t know what REALLY going on behind the scenes. God shall not be mocked. 🙏🏿🙌🏾
@@W2wxftcxxtcrwGOD is REAL & so is Satan, we see whose side you chose. Soon EVERY KNEE SHALL BOW & TONGUE SHALL CONFESS. 🙏🏿🤷🏾♀️
Hell yeah. You can't drive forward looking back
When you fire her production goes up. It’s like me and my middle schoolers. Do a write up and everyone else gets 💯 in line!
Lol, I have been chronically late before in the past. My boss pulled me aside and pretty much told me that it was going to negatively impact my career if I didn’t get better. I also got a promotion. It’s definitely given me a lot more motivation to be more punctual.
True...Dave, the banker not the step uncle and half sisters. Dad
NO WORK-IE NO PAY-IE
Dude give your employees a yeay bonus!!!!
Best episode yet! Keep it up Dave!!
Leaving without money
2nd caller - SEE A LAWYER, dude. 😒
Yea, sounds like a civil suit.
But they made a song together to
OMG how horrible
Now every song available...bc his GMA got one stolen
Her language is so reactive instead of proactive. She needs to stop focusing on what happened in the past and work on her and her business. Basically what Dave's saying.
I can now
Its a tough story to like since there is no focused information on the business. I would have loved to hear the "villain" mentors side of the story as well.
There's 3 sides to every story, your's, theirs, and the truth.
Hallelujah!!!!!!!!!!! The daily Jesus devotion has been a huge part of my transformation. God is Good 🙌🙌🙌🙌🙌🙌🙌🙌🙌was owing a loan of £47k to the bank for my son's brain surgery(Samuel). Now I am no longer owning after I invested £6500 and got my payout of £290k every month, God bless Elena 🇺🇸🇺🇸🇺🇸
Hello how do you make such monthly, I am a born again Christian and sometimes I feel so down 🙁of myself because of low finance but I still believe in God.
Great to see you guys talking about her, she really changed the game for me.
Please how can I contact her? I do love to see for myself?
You'll surely reach her
She's active on TELE
Gram
So this lady is doing "great" that must be why she is calling Dave Ramsey. Right? 😮
I stead of a lawsuit...a doctor with ice cubes.
While there is often useful information here, when Dave gets into this bizarre rage, as he did with the second call, which seems to almost always revolve around hatred and destruction of family over money, it’s disturbing. He has to have some kind of deep seated issues that he has never resolved. And it is not good advice. It is definitely not Christian, as he professes to be.
He also makes sweeping judgements based on incomplete information, almost always taking the side of the caller against people he knows nothing about, who can’t speak for themselves. On the first call, it seems significant that the “bad” partners were her husband’s mentors. Meaning, from their point of view, they made him, and maybe he wasn’t carrying his weight. On the second call, there has to be more to the situation. If these brothers built this business over 30 years with no problems, it could be that they’ve made enough money that they could all retire if they wanted to. The fact that the caller was thinking of offering a buyout suggests that’s the case. It would have to be assumed that for most of that time, decades, the other brother was doing his part in building this business, and deserves credit for that. Whatever the situation, going nuclear and destroying the family, including a 90 year old father, should not be the first response. It’s just plain weird.
Maybe this is all “show biz” to Dave and this is his idea of being entertaining, playing games with people’s lives. But it’s really destructive advice if people take him seriously. He started dialing it back towards the end, probably realizing it was wrong, but the fact that that was his first response is disturbing.
How long would you actively manage a business and give 2 other people 51% of the profits and a wage that aren't contributing anything to the business?
@@lukezimmerman470 I understand the complaint, but Dave’s response was way over the top. Nobody should hate their family that much.
Dave still advises men to go out and get married without a prenup. He lost all financial credibility for me once i heard that and never took anything he says seriously
Sounds like a cleaning business.
Success is possible if you stop.
Why am I just finding out about this podcast?
I have a life like I said..you won't get me to work so he will never work again.
How much would it cost to take on more calls every week? I’d pay a subscription to listen to more of these calls!!!
And related to Elvis. By blood
I bet you the wife never wanted partners...I bet the husband said "I trust them"....
Would love to get an update!
Why is a devout Christian talking about revenge? I don’t understand that.
That lady is so emotionally attached that is preventing her from creating new connections, customers and jobs. If you didn’t once you can do it again..
"I've been there, done that, I've got all the T-shirts!"
What was the industry she was in ??
Maybe a cleaning business...like Service Master as they employ many part-time folks that work after the business closes for the day.
I'm like the 3rd employee. Great at the job but could give 2 craps about the paperwork or apps/programs. Just let me make money in the field.
Despite all the financial struggles i and my family faced, everything is finally falling into place! $47,000 weekly profit and riches I'll always praise the Lord.
Same here, with my current portfolio made from my investments with my personal financial advisor I totally agree with you.
Wow! Kind of in shock you mentioned expert, elizabeth ann graney.What a coincidence!!!
Elizabeth Ann has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of life's.
Life is easier when the cash keeps popping in,thanks to Elizabeth Ann graney services.glad she's getting the recognition she deserves.
I use to work 3 jobs,full time at Walmart,a server at night and Lyft on the weekend,until Elizabeth Ann graney change my story.
Meh, they are incompetent and got cut out.
Suddenly my situation is okay.
38:52 Dave stop talking about me please
"Just fixed you buddy!"
Cry me a riverrr ...