I love how Dave dug until he found the issue. Nothing gets by him. The guy didn't want to admit it but Dave knew there was something else there. He's a freaking genius.
@@eegernades - Like this time! There are some things you need that only "1" vendor(s) can supply, or, your f'kt. Caller does need to fire the wife, and, or, make her understand that thisis what it takes to be set for life. 3-4 years of this bullshyt and you would NEVER have to work again. Then again, maybe divorce the wife!? She sure isnt gonna take MY freedom and happiness. I would plant a foot up her arse before THAT happens!!
@@jeremsgarage best recent example is his 8% rule about taking put retirement funds. Actual experts came out the woodwork so retirees who listen to Dave dont screw themselves over since Dave spoke out his ass about it.
I heard this adage when I was a child and have never forgotten it: There will always be someone better off than you and worse off than you. To more that meant be grateful, be content.
Amen Dave! I had difficult customers in my small business, so I doubled my prices. My income has doubled, and I have rid myself of all those annoying customers trying to ‘get a bargain’ and talk me down. Life is too short!
He doesn’t need to quit, he needs therapy. He’s not happy because he compares himself to his friends. He’s not happy with his wife working and he’s not happy if someone else does the job. It will never be enough. He’ll never make enough money and the shop won’t ever be run to his standards.
I bet there have been 3 problems: 1) They havent been willing to offer enough to get someone top notch in 2) They micromanaged at the same time as throwing the person in the deep end without prior mentorship 3) They haven't given the new people the same access to communication with him that the wife had. The wife knew she could call or text whenever needed...the new guy may not feel like he can do that, especially if some of the communication is after hours.
My wife and I went through the same thing 30 years ago. She’s a very detailed person and didn’t miss a thing. Or very little anyway. We tried to open a second shop but nobody could run it like her. Or so we thought. 30 years later I realized we made a big mistake. It doesn’t have to be run exactly the same way that she would run it to be successful. If we weren’t so knit picky about the little things we could of had 2 successful businesses instead of selling everything. Don’t expect perfection out of your employees. Nobody’s perfect, Not me , not you and because she’s not looking, not my wife. Give them some room but watch your numbers like a hawk.
That’s the key. They are looking for someone just like his wife and he’s willing to let the whole business go rather than work with someone who will do things differently.
Exactly. As much as I love my husband, I would not work for him in a business. I started to think of the "unless" statements, and still arrived at "nope." 'Been there, done that. 😂😂
@@mattcollins4550 I lived for 6 years in SoCal for 6 years until COVID. California is expensive, but a lot of conservatives act like only billionaires can afford to live there. He's in the top 1% of earners and unless he's living in a gated community in Beverly Hills, he'll be doing better than fine. For most professionals in most parts of CA, it's possible to raise a family decently, so long as the wife isn't a SAHM.
@@mattcollins4550lol my brother and his family live in San Diego and his family probably takes home $350,000 a year and it’s more than enough money… $1,700,000 a year? You could easily live in a $3,000,000 house. Bank would qualify them for a $8,000,000 house. Oh poor him must be so hard.
Dude said "I never buy anything unitl I have 10 times the amount neccessary to purchase it" well if that isn't the most trust fund type of statement I've ever heard in my life.
They need to hire someone to shadow the wife. Let her step away 30%, then 50%, then 75% then 100% over an extended period of time, few years if needed.
If he tends to be a micromanager perfectionist, and does not want to pay market value for the position, a good sales rep/manager shadow might not stand a chance.
Nope, the person shadowing the wife will never be good enough. There will always be an excuse for the wife to stay on. It's a sales position, salary isn't the way to go. Good sales people want a percentage also. Base Salary to cover the non-sales activity you expect, and commission on sales. maybe 5 or 6% of ALL sales + your $60k salary. Don't try to cheat your salesperson. If they are any good, your customers will be following them when they quit on you.
I run a real estate renovation/management business, and I was really happy when Dave corrected him... it isn't easy, either. If you are running a business, you will be carrying a heavy burden no matter which industry.
Question. I run 2 businesses. My gf was not a business person when i met her. Id rather have her work for me helping me in my businesses but she always seems to want to try her own business and honestly i dont like that idea. I feel like she should help me with my businesses (id pay her well ofcourse) because im going to need to hire an employee soon and it might as well be Her. Plus the idea of her having her own business means that she would be busy, stressed etc in her own mind trying to do it. Ive been in business since age 15, now 38 smh lol, so over 20 years experience and im a business major with only an AS degree in business management. She has no business experience, no business degree and never considered having a business until she saw me running mine. I feel like if shes not working with me in my businesses then were not on the same page and feel like shes not thinking 100% help mate mindset with me. My goals are to make millions and provide careers for people. Her mindset is just side money. So i feel like its counterproductive of her to even think or try a business right in the middle of my business. Kind of like me needing help with a broken down car such as her steering the wheel as i push it but instead shed rather go tinker with washing her own car Windows unnecessarily while IM the one with the Major plans to build an empire. And honestly i dont want a "business woman gf or wife, thats not my preference at all, im not into business type women, i feel that business is mainly a masculine thing and im not for that for my girl". If shes busy with her own things, then that takes away time that she could use to assist me with my major plans. I plan to make 1 Million Dollars+ per year eventually and i dont want a busy/stressed gf/wife spending time tinkering with other things rather than be my personal assistant in my business. Thanks. Anybody knowledgeable please reply soon
Question. I run 2 businesses. My gf was not a business person when i met her. Id rather have her work for me helping me in my businesses but she always seems to want to try her own business and honestly i dont like that idea. I feel like she should help me with my businesses (id pay her well ofcourse) because im going to need to hire an employee soon and it might as well be Her. Plus the idea of her having her own business means that she would be busy, stressed etc in her own mind trying to do it. Ive been in business since age 15, now 38 smh lol, so over 20 years experience and im a business major with only an AS degree in business management. She has no business experience, no business degree and never considered having a business until she saw me running mine. I feel like if shes not working with me in my businesses then were not on the same page and feel like shes not thinking 100% help mate mindset with me. My goals are to make millions and provide careers for people. Her mindset is just side money. So i feel like its counterproductive of her to even think or try a business right in the middle of my business. Kind of like me needing help with a broken down car such as her steering the wheel as i push it but instead shed rather go tinker with washing her own car Windows unnecessarily while IM the one with the Major plans to build an empire. And honestly i dont want a "business woman gf or wife, thats not my preference at all, im not into business type women, i feel that business is mainly a masculine thing and im not for that for my girl". If shes busy with her own things, then that takes away time that she could use to assist me with my major plans. I plan to make 1 Million Dollars+ per year eventually and i dont want a busy/stressed gf/wife spending time tinkering with other things rather than be my personal assistant in my business. Thanks. Anybody knowledgeable please reply soon
A small advertising company had one customer that was a big portion of the revenue. The client would come into the avertising agency's office and totally dirsupt it. The owner was reluctant to tell him to stop. He didn't know what he would do to replace the lost revenue. Things go so bad he finally told the client, "you're fired". He had no clue where the revenue was going to come from to replace what he just got rid of. However, the morale in the office improved, employees felt valued. The company had record sales and profits. The customer is NOT always right, and you don't need every customer.
Yes, I had he same experience, I had to learn to fire some customers and now we are backlogged. Set your standards then find the staff and customers that will replace the bad ones.
i was in that business. because that industry is so niche you cannot find anyone that can walk in off the street and do it correctly. they have to train and mentor someone and not micro-manage while they learn and mess up ALOT. the wife is good at it only because she's seen it all, they need to be patient until the "new guy" has seen it all. or spilt what she does into different positions.
Also, I have had employees hold onto the information about their job so they were irreplaceable (or so they thought). Those were the people I would get rid of first. We were a small business so there was a lot of cross-trading. I never asked an employee to do something I wouldn't, and I encouraged everyone to share their skills whenever possible. We called it the Gage of Engagement to describe the process of expanding knowledge and skills.
I see it all the time. Employers want a top of the line employee for pennies on the dollar. Sure, the goal of business is to maximize profit but make the financial investment into hiring the right employees. Most of the time the right employees aren’t attracted by low salaries.
50% margin on 3 mil + is a unicorn business, so many owners think it’s greener on the other side when every business is ultimately difficult to operate
He doesn’t make $1.75 M, that’s probably his gross profit. He complained nonstop about a lack of cash flow. Unless he’s spending $100k per month he has plenty of cash flow or his numbers are wrong
Sounds like its a unicorn because they are each doing the equivalent if two management positions. Take 4x professional salaries out. And it becones a 30% business. Still amazing and probably what they should do. Just hire a bunch of staff pay them well and sit back and only handle what they need to. I feel like that 1.75 cant possibly be after tax and depreciation though.
@@adamseidel9780hes living the high life. They probably run 4 new vehicles have 10k per month mortgage travel twice a month, private college fees for the kids, holiday house, support extended family. Home maitenance cleaning and dog walking staff. Boat + berthing. Insane insurances. Massages person trainers therapists for each family member. All that shit adds up.
Ramsey missed an opportunity to just ask the guy how much he paid the people he tried to replace his wife with. If he paid $250k per year, I bet he could find someone to do it better than his wife.
@@redbunnyclassic none of them have anything original to contribute, it's a known fact they have to mirror the Ramsey way, so why not just here it from the man himself?
My husband is a diesel mechanic and "repair anything" business. The stress the caller is talking about in the industry is no joke! My husband's ex ran the customer service/office side of the business at the detriment to their relationship and 5 secretaries FAILED at the job so she kept picking up the slack until their relationship ended. I flat out refuse to work for the business even though it's stressful for my husband - because I don't want the same result. Not many people can handle it.
This “boy” (I’m 65) spent every breath evading, avoiding, and deflecting. If he had just answered each question directly, he might have received a few more gems of wisdom. I could tell right off that he was probably having troubles because he’s too indirect.
Yes, because of the deep void in the place where values, ideals, hard work and good manners once resided. The only person who can change the view is you. Stop being so demanding and focus on what you can give. You may find you attract better people.
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 200k to a decent 632k in the space of a few months... I'm especially grateful to Evelyn Infurna, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Evelyn Infurna has really set the standard for others to follow, we love her here in Canada🇨🇦 as she has been really helpful and changed lots of life’s
It's important to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.
Really, she is probably telling him every day she is overworked, underpaid and still has to run the household and raise a family. So, sorry, maybe they need to hire a housekeeper, a nanny, a cook, and then she may have some burden of work lifted. We really do not know, do we. But we do know, he was ignoring how much his wife was putting in and not acknowledging they also have a house and family and not just a business.
My EX wife is surely feeling that now !!! She gave me H*LL every time I put extra time in the business but she had NO PROBLEM SPENDING THE MONEY when the checks showed up in the mailbox
This is a classic case of why I don't wish I had other people's lifestyles. I worry about me and my family and I don't want to be jealous of anybody else because I don't know what they're going through to have what they have.
Go to a regional college and hire two recently graduated industrial engineers pay them each $100,000 / yr. With the extra $300,000 in costs you will still have a solid cash flow and will have sourced the problems. Industrial engineers are trained for odd work.
Everyone believes, “if only I was in “that” business, we would be on east street.” ANY business is war! You have to battle every day. The problems are the same in every business. You fight employees, customers, suppliers, and everyone else ALL time everyday! You can improve it to a certain point, but there no “hands off” “easy” ways to make money. There is a lie out there that if I only had “X” or “Y” then life would be great. Step up and fight or sell the company.
Something does not add up here. Customized service and repair on RV's and trailers with employees in Los Angeles rarely net 50%. You are lucky if you can net 20% after all is said and done. In addition, this sounds like a husband and wife ran business. More likely the owners are putting 24/7 into their business and are burned out. They need to reevaluate their business plan, fire some customers and hire help to run the administrative duties and deal with the problem customers. Take some time for themselves away from the business. Owning an established business is far better than jumping ship to try and start something new.
Understanding your business and your customers is #1 in a business. Yes and hire someone who’s knows how to run it. So many RV people living in. What a great business. Let go a little bit.
Basically his wife is running the business and she's tired. He's less competent and the business will go down the toilet if she doesn't keep propping him up. He's in the passenger seat and she's sick of it.
You can tell he's full of shit when he says he wants to milk the business..... So until it goes under... No no no. This guy has no clue. I couldn't be married to anyone this wishy washy.
All this guy basically does is ask people what they do and how much they make! Then just tell them to make more...spend less...and pay things off! WHAT A FREAKING GENIUS!
I went through this (but not at that income level!). Same type of business issues. After 24 years, I said enough; sold and chose another business with a LOT less stress. Why can't he just do that? At that profit level, he will get a good price for the business. And then just start another business in a different industry. I wanted one without any employees and few customer service issues, that didn't require me to be there every day, to spend more time with family and doing things that bring me joy. I have that now and I'm incredibly happy and content. Life is good!
Good to hear. We have hired a few people since and have it structured where they need to perform to make money. Techs are making $65k-$150k a year. What did you do?
Dave hit the nail on the head. The guy has a great business and he needs to get his wife out so she can go play bridge or have some fun. There are people that can do her job, they may not be easy to find, but they are out there.
I think this guy has a bad attitude.. poor me with a million dollars.. still not satisfied.. poor me.. I'd like to hear her side just for clarification
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
He mentioned inventory purchasing his customer needed - that along with equipment purchases. It's quite possible all his income is in the business - especially if it was relatively recent it was that high.
@@WickedZZzYinventory and business. Heck since this call only have $800k now. Inventory, buying more businesses and more problems. The Broke one around a lot of wealthy people.
Certified rv tech.. what he said about getting parts "that fit" is exactly right. Warranty payment from manufacturers is filled with hoop jumping and arguing and pictures and videos and long writeups etc.. NOTHING "Just bolts up".. When you need an alternator for a truck, you give a VIN and you 'usually ' get... the right alternator.. that just fits in the same hole that the old one came out of... not in RV WORLD.. You get what they have now.. could be the same OR.. you could tear down and rebuild a wall to do it.. either 7 mins or 2 days..
@@mph5896 100%. Construction is the same. But the good thing about construction is you have a hardware store on every corner. RV parts and repairs you have to hunt the products down and can’t simply check out at the front of a store. Definitely very difficult. Also RV places require large property and heavy equipment to move them too.
I struggle with similar stuff. In a small business people have to wear many hats, including sales people, so it’s hard / impossible to just find someone to slot in. The only way to get someone for the role is to train them over years. If you have a big business then roles are more specialized and it’s way easier to train and recruit.
@@RaceMentally "they live somewhere expensive" is the dumbest excuse ever. If you live somewhere expensive but have enough cash in the bank that you could literally just move to a different state and retire... then stfu you are not poor.
Happiness is worth more than money. They need to ascertain what exactly it is they want from life. The look on Dave’s face when he said he was sick of waking up next to the wife
Hire two or three people to replace the wife’s duties, most people you’ll hire won’t do everything she does because it isn’t their business it’s yours they won’t work as hard and their heart won’t be in it as much as your wife’s is that’s why you get two or three
Happy wife happy life...😅. Men always think women want the same things as we do and we are equal "partners". There is a reason you should not go into business with family. Your wife is family. It changes the dynamics of the relationship. It's the entrepreneurs dilemma when you start out you feel like you have to do everything in order for it to get done right. He could find somebody but it will cost money and take time invested in intensive training but it would be worth it.
It took eight minutes of this conversation to get to the honest truth, which is all about the wife. I wish when people call in they wouldn’t waste time with such a valuable phone call to Dave. Get to the bottom line ASAP. Hiding is not helping.
This is the problem with most small businesses sufferring growing pains. The problem is usually a family member, but that can't be acknowledge because you can't have strife at the dinner table, etc. They are hoping when they talk to the host he will jump to some other conclusion and then the caller is off the hook because he can then blame whatever the host came up with. This caller had a problem, the host knew the RIGHT questions to ask and the answers were not making sense. So he didn't move on, he asked deeper questions.
@@USMC6976 Dave is great at taking the deeper dive to get to the bottom of a situation. I understand some people are hesitant to get to the brutal truth, but Dave shouldn’t have to pull teeth for them to get there. But maybe that’s just me and it doesn’t bother Dave at all. I learn so much from him. You have an excellent point that the caller might have hoped Dave would come up with a valid reason why it wasn’t working rather than the wife.
I had a friend whos baby fussed alot, i am very calm and when the baby was with me it was calm, my friend started making a fuss causing the baby to fuss. Moral of story, when some womem see others doing a better job, they make sure it doesn't work. I think this is what the wife is doing.
Take the advice. At the same time, get some new friends. Sounds like the main thing they all have in common is spending money. That's not giving him joy either.
So...basically he is using his wife to be the foundation of the business even though it makes her unhappy....got it. He compares himself to the people he hangs around....got it. Interesting how he compares himself monetarily to his friends, but I bet they don't force their wife to be their business foundation either.
That may explain his royal "we" statements. He may be convincing her that she is "part of the business" when the truth is she has little to no autonomy within it. Hiring a solid sales rep/manager is not in his "need to impress our free-spending friends" budget. 🙄
That’s the problem a lot of employers are facing. Many don’t want to pay what it takes to get quality help, they would rather just get a body in there for cheap hoping it works out.
Grass always looks greener on the other side of the fence. • Business has a 50% profit margin. Net income $1.75 million • How much has the caller saved over the years @5:23 • Has $1million in the bank @7:11 (I always feel broke). • Phase 1 of Customer acquisition should be vetting the customers. • Tell them 80% of potential customers think they know this business more than we do. • Tell them you are happy to work with only 20% who meet certain criteria list criteria and conditions consistent with your ideal customer
Things have changed over the last 4 years… starting a business that deals with the public is like asking to have your fingernails pulled out everyday. Especially if it’s a business that makes or creates custom or specialty items. 50% of your daily customers are going to be Karen’s and they are bringing in everything that is wrong in their life and unloading it on you. We’ve run a custom business for over 20 years and there is no way I would want to start fresh in the same line of work. I also really don’t enjoy working with my spouse. He is very controlling, very critical, and not very conscientious when it comes to me and my time…. But he is with everyone else. Our workplace is like a step family and I’m the red headed step child… so I don’t like watching him be nice to everyone else and a jerk to me. He doesn’t see it and he likes when I come in to the office and work but i literally HATE IT. To top it off, he has a hard time switching roles from boss to husband when I am at the office so his behaviors transfer to our home which makes me more miserable.
This guy and his wife are likely micromanagers. Don't just hire someone, train them for a year to take over the position. She should spend some of the time writing a SOP to help guide this person. Then she can just consult after that.
In my area, there's a guy running some niche business. He couldn't find a qualified sales person. Finally, he made his longtime delivery driver (!!!) the new sales person. And it seems to work quite well.
Caller has trouble describing the problem. What is the problem? Is it the high stress of working in this industry (rv repair)? If so, I believe that. My rv repair center stresses the crap out of me any time I need service.
Dave isn't quite "hearing" this guy. The problem is that his customers don't like the timeframe deviations. But those are inherent in the custom world. The average person just doesn't understand that.
Hire someone your wife can train that makes her smile when she sees them. Then slowly give that person more responsibility and your wife fewer hours. My husband runs a Corvette restoration business. Very similar problems. There is no book for this. My husband hired a very sharp woman, trained her and now she is the bomb service writer. We hired our niece, trained her, and they love each other. They take trips together, babysit each others fur babies and have fun working together. Our customers adore them. My husband was “the” Corvette guy, but guess what, he golfs Tuesday and Thursday and works 2-4 hours max now. Another business idea: trash hauling. You just drop your trailer off, customer fills it and you haul it to dump.
You have to pay them. I know it’s hard to release control. It’s not fair dragging your wife through this work place drama. My husband built homes on the side and stressed me out so badly that I was in stroke zone. He aggravated the fool out of me and was furious with me for not wanting to run a household and his part time business. He ate, drank and slept houses. It consumed our lives.😢
It was so obvious that his wife needed to remove herself from the business and focus on the family instead. This guy tried so hard not to piss her off. He knew and we all knew that she was listening. You cannot achieve and/or sustain success in life without proper home management, which is traditionally the wife's responsibility.
This guy is killing his wife. He puts so much on her that she is literally willing to kill the business because he is not listening her to her. He will need 3 people to replace her minimum, and no one else would keep up with his mamby Bamby complaining.
It's rare that a husband and wife can work together. I'm a CPA, and decades ago worked for another CPA that had his wife run the office. At first it was comical to listen to them bickering nonstop. After a couple of years, there was nothing comical about it. It was pure torture, and I walked off. This guy needs to take Dave's advice.
This proves that money alone doesn't buy happiness. It also proves managing your relationships correctly and pursuing things that give you a true sense of purpose is better. The blessing of the Lord makes one rich while adding no sorrow. Richness is not just netting 1.75 mil. Love what you do and you will never work a day in your life. No one wishes they made more money on their deathbed. I have never seen a U-Haul behind a hearse either.
I'm listening to him explain the "custom" and "one-off" and chuckling to myself. That is literally my entire job. I'm a software developer and I work at a custom software company. Sure it is mentally taxing, but you figure out ways to balance that.
Dave is right, get someone else to do the wife’s role in the company!! You and your wife need to relax, pray and interview to the right person for the role, your wife is stressing out everyday! And take her on a vacation. Do simple low cost things during the week together, take walks :) pray together:) . 😊❤
He can’t fire his wife, “BECAUSE!” She, ties up all the loose ends that HE is not willing to do! No sales person is going to do HIS part of the job….except a wife! He obviously thinks sleeping with his sales manager is payment enough! I can tell you this, no other person would put up with his irresponsibility!!! If his wife is waking up with hate in her eyes, it’s because of him dumping ALL the crap on her! He’s the one out on the floor being the hero ( promising all the things ) while she is doing ALL the work!!! I’ll bet he would never trade places with her!
I worked for a company that grew too much, bought other companies and ended up "getting crippled" by too many of the wrong customers. They almost doubled their prices in particular sectors, lost half their clients, made just as much money.
The caller is taking his wife for granted and expecting more of her than he does of himself. No matter how well she has done with their difficult and demanding customers, he isn't happy with her, his business, or his life! I was not treated kindly by my husband when things were difficult in our real estate business. He just wanted things to go well all the time, and it was my fault when they didn't. He isn't even decent to me after I made $230K selling our real estate last year at a great price and then invested the proceeds wisely. It hurts to your core to be taken for granted and not cherished by your spouse.
"Im not special and nothing I do is magic!" As ive moved in the direction growing my business i keep getting repeating this to myself. It's not false humility its a bloated ego that refuses to do the work of creating processes. Im not special and nothing I do is magic!
Learning to let go of some of the responsibility you're accustomed to dealing with is hard for people but it sounds like it's the key to their happiness and sanity. Allow the wife to do something different and have the patience to bring in someone equally (or more) capable
He has to be comfortable with hiring new sales people. Sales people get fired everyday for non-performance or for getting tired/burned out. There are always others. Even if you had to hire two guys, and train them and know that one will get fired or burned out in 5 months, that's your rotation. Keep them coming in and save your spouse from the heartache/headaches.
for me personally, if i were still young like the caller, i'd figure out a number that matches my "reasonable" lifestyle then continue my work/business until i reach that number and then sell the business and live my "reasonable" lifestyle ... a lot of success in life comes from not being greedy and continually making that number bigger and bigger ... balance will make more happiness... but that's real hard to resist when you're young and have lots of ability, drive and potential...
It cracks me up how business owners think they are special because they run the business like anyone, like no one else can learn and actually much better.
