I’m Making Millions but I’m Worn Out

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Today we’ll hear about:
• A business owner who’s making millions trying to decide whether to grow his business or pay off personal debt
• A financial advisor wondering if he should start his own business using his employer’s client list
• The keys to successful delegation-straight from Dave Ramsey
• A CEO wondering how he should prioritize his time in his business
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Опубликовано:

15 окт 2024

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Комментарии : 58

@cparjr11 2 месяца назад

This is me exactly right now. I am in construction, have 2 companies, and exausted. I let go of the donkey a few months back, and now my load is very heavy, so much so that I feel like winding things down. I think I need to start looking for a thoroughbred. I have been asking God for direction. Maybe this was it... I will pray about it, talk to my wife, and do my best to make the right choice. Thanks, Dave.

@cnewton6527 2 месяца назад

I think to start keep it simple. Find a very good second in command for your company. You can start giving him more more responsibility and move forward from there.

@evenbiggeral5089 2 месяца назад

@@cparjr11 You’ll find a good worker if you offer excellent pay. Course you will have lots of applicants but at least you can pick and choose from there. If you, hire two of the best applicants. One of them will not work out. Then go cautious on giving the one more responsibility. My mistake was trusting that thoroughbred too much and finding out they were trying to embezzle. But in the end, it was all worth it. I learned to run the business with guardrails in place and have premium people running the show without me being there. I just check all monetary transactions and make the deposits.

@anniehope8651 2 месяца назад

Thoroughbreds are no good beasts of burden. They are drama queens. Get a mule.

@ZeikCallaway 2 месяца назад

This feels like a no-brainer. If having two companies is taking too much energy, then you either need to hire more people to take some of the burden off or sell one of the businesses.

@ELDTAdventures-tp9jy 2 месяца назад

What company makes 80% of your profits? That might be your North Star, depending on how recession-proof it is.

@Wall2000x 2 месяца назад

What is missing from the baby steps is to take care of your health. Go on a diet, be careful what you eat, cut out the alcohol, stop drink soda, stop smoking pot and do some exercise. It isn't work that is wearing you out, it is lifestyle.

@hre5183 2 месяца назад

Exactly well said

@hallwest9650 2 месяца назад

@@hre5183yes very well said

@Zachary_Setzer 2 месяца назад

Regarding the second call, I don't see how a service business can own a client unless they're under an ongoing contract. Clients have a right to choose which professionals they work with. If he leaves and a client days, "You're my guy, I don't even know the owner of the firm," there is nothing at all unethical about that.

@michaelludvik2173 2 месяца назад

Exactly. Is it unethical for another business to go after those clients ? A book of business is a living thing. Also: the fact that the book of business is worth so much shows how overpriced and replaceable financial advisors are. They just plug your numbers into a formula and take 1% of everything you own every year.

@SicSemperTyrannisx9 2 месяца назад

It’s one thing to actually make a copy of the clients list and start cold calling people he’s never interacted with before. Reaching out to people who he knows is not stealing the client list.

@georgewelker2846 2 месяца назад

It’s an integrity thing if you’re selling yourself to someone while they’re in someone else’s business system. It’s kind of like if you got set up to sell eggs inside a Walmart next to their egg display, without asking them or paying them for the privilege of using their marketing money

@Zachary_Setzer 2 месяца назад

@georgewelker2846 That would be trespassing. Idk what the standards are in financial services, but at least for law firms, a firm can't make an attorney sign a noncompete, and if they do it is invalid as against public policy because clients have an absolute right to choose which attorney they want representing them. Seems to me the same should apply across other professional services industries.

@DanielMartinez-rv6su 19 дней назад

@@georgewelker2846its business son, the loyalty goes out the window once you can me. Tough shit.

@John-du2mq 13 дней назад

To the first guy. People will never care as much about your business as you. However, if you pay enough you will get good people to care quite a bit. Sounds like for how much money you make you are understaffed and the people there are probably underpaid and overworked.

@evenbiggeral5089 2 месяца назад

I learned quickly that donkeys are not trainable and also will damage the business. Firing donkeys seems hard but you get used to it. Then pay premium salaries and hire top people.

@anniehope8651 2 месяца назад

At least donkeys don't get startled easily and can carry heavy loads without complaining. Think twice before you fire them.

@BB-Bargaining 2 месяца назад

I worry I find a thoroughbred and train them and then get screwed when they have amenough ambition to take your ideas and clientele and just gets up and leaves Now u need to repeat it 100 times

@evenbiggeral5089 2 месяца назад

@@anniehope8651 lol I get it. Donkeys carry a heavy load, but they DO complain, bite, and get stubborn!

@Thesaltyseafish 2 месяца назад

@@BB-Bargaining pay them better and they won't! It's an insult to pay a top performer "market rate" is their performance on rate with the market? you can't replace them with 2-3 people sometimes. If you set a low glass ceiling and they're stuck staring at the other side of it while you're making a fortune, eventually they'll tell you to pound sand. Happens every single day.

@BB-Bargaining 2 месяца назад

@@ThesaltyseafishI'm still building so I am not where I need to be to hire yet but I'm saying my concern with it is that no matter what u pay them , u can still get screwed over and I've seen it

@Radial-racer 2 месяца назад

The people who get you to one level won’t always get you to the next.

@RichardTouchfaith 2 месяца назад

I also feel like this caller, though I do not own a company nor am I making millions.

@NickRaeff 2 месяца назад

Bro 😂😂

@bringforthtruth Месяц назад

If the money is good, I'll care. These owners want this to be your life's purpose... Sorry, you gotta pay the man, and pay him well.

@theJhanaLi 2 месяца назад

How do you balance giving team members opportunities to grow and prove themselves with the need to maintain high standards and protect your brand? Have you ever had to step back in after delegating too soon?

@mariorodriguezruiz8519 2 месяца назад

From total ignorance, why is it unethical (or even illegal?) to take those clients? Clients belong to nobody and they are free to choose to follow you if they are happier with you than what they are with the overall firm. Free market I would say?

@mechie2542 2 месяца назад

If anyone is looking for a project admin or project coordinator, I am looking to get back into the field and have my resume ready to go. That goes for you too David, I can be that person that gets the job done.

@GemZwriting 26 дней назад

What happens if you care, and the toxic environment forces you to stop caring. Because the Owners are turning a blindeye to the mismanagement of their business. Eventhough you've pointed out where the toxicity is coming from. What then?

@musicjazzvez 2 месяца назад

Great advice, thank you for sharing!

@barnealevi 2 месяца назад

I learn a lot each time

@thestorybehindthat5236 2 месяца назад

About the guy and taking the book of business to start his own company with. I don't get how it's unethical if his old clients look him up and reach out to do business with him? People follow people they like and move to competitors as markets offer different options. I don't see how the customers are obliged to continue with the the existing service provider. Customers have choices and their own free will and a final say about who they'll do business with. Companies don't own their clients. I'm sure Dave has followed contacts he likes and trusts when they make a move. I do think it would be unethical to use a list and actively reach out to customers from the old business to build a new one. But if you're offering something better and old customers look it up and want to go with you, that's just business.

@John-du2mq 13 дней назад

That and it's his fault for not having a non compete.

@bestbudsourchannel4807 2 месяца назад

First! Love Dave on this show!

@Chikou14219 2 месяца назад

Excellent video!!

@chris285as 2 месяца назад

Bit of dig at the professor, for me they worked for a very large famous company. There not all broke and don’t know what they’re doing. I hint you’re jealous of them. Or is it that your selling that your experienced. You know I respect both and use both. Experience and brain power.

@ProgrammingWIthRiley 2 месяца назад

That’s a lot of work for a net net net 500k

@ThomasWidmer-um6zh 2 месяца назад

What is the best way to make money from crypto investment as crypto is turning around massively.?❤️

@PamelaHarper763 2 месяца назад

I think all you need is an expert assigned by a brokerage company that will trade for you and handle your capital professionally and give you weekly returns of investment without any extra fees attached

@AustinLucas870 2 месяца назад

Seeing a remark regarding my manager ETHAN TURNER is quite energizing. It was just like this when I first met her a few weeks ago. Having started with just 4k about 2-3 weeks ago, I have already made it to 21 k. He is very remarkable!

@Robbiejebb433 2 месяца назад

Goodness gracious I'm so excited seeing Mr. ETHAN Turner been mentioned here also. Didn't know he has been good to other people too, this is wonderful because I also started with a RU-vid referral like this