Why Every Business Needs a Budget with Dave Ramsey

Cash flow is the gasoline in any small-business’s engine. And sure, we all know it’s important to manage your money—but some business owners believe that only means looking at the profit and loss statement once a month. While this financial strategy is better than having no strategy, it can lead to problems—and there’s a better way. The answer? A budget for your business. In this episode we sit down with Dave Ramsey, the CEO and founder of Ramsey Solutions. He talks about why having a budget for your business is so important. Then George Kamel chats with Ramsey Solutions Senior Executive Director of Finance Jeff Williams. Jeff lays out a step-by-step process you can use to start budgeting for your business.

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• The Ramsey Show (Highlights):

[tahirisaid]

It’s such a blessing that my wife and I aren’t just married, but we’re also each other’s best strategic partner in business. I’m great at what she lacks, she’s great at what I lack and we have an Adviser to work with. Praise God!! And thank you for the awesome content!

[joanntebo]

This is vital information. My husband and I needed it when we had our business as it outgrew our simple methods. We did not have good advisors on this and I did ask repeated. Looking back, we needed to look outside of our circle, because these friends, family and other leaders were not equipped to help us. Hard lessons learned, but we can share them with others to encourage them to choose advisors wisely. Thank you for sharing this important topic and wisdom.

[LaShay]

I have read Business Boutique and while it did have some helpful perspective (emotions we struggle with as women in business) it did not fill the void of business advice for small businesses/entrepreneurs. Thankful to find this channel and hopefully Mr. Ramsey will write some more books on these subjects ...marketing, small business, entrepreneurs, etc... 😁

[maplelodge]

I've been waiting for something like this on Business Hours on Dave Ramsey Show for a long time!! I hope Dave will do a more in depth book on this topic.

[tsawra]

I love this episode more than any other one 🚛

[shaveenfernando]

Thank you for the practical knowledge. May Jesus bless youl to grow further.

[sugeymancia]

Thanks for the great advice. May God bless you and your business

[tsawra]

Dave is the man ! Jesus sent from Heaven to help us at the area of Money 💰!!! Show me the money 🗣️

[susanjohnson]

Dave you and George are a wonderful fit. You both are down to earth, honest and humble. Dave you and george are just sitting together like teacher and student with such respect for one another. Dave, thank you for sharing your failures and your awesome success.

[tsawra]

This is gold !!! It helps my small franchise business in big way !

[RandJ]

Dave has really deployed a war on the Banks. Great work, hopefully one day his vision of little to no banks will surface.

[TrustbutVerify]

I added a bookkeeper to our business early on with shared access to quickbooks. Get the Profit Loss statement / cash flow statement/ and balance sheet monthly, but most recently I created another Every Dollar budget account for our business and started using it to track every expense and plan ahead. Created a line item fund for Retained Earnings. It Works beautifully. We had so much money slipping out of the business I didn’t know about but now I feel like I have control.

[jacquelinee.foreman]

This was an amazing episode!!
Thank you so much!!
I can't find the show notes for the 6 financial reports in the show notes😢
Not sure what I'm doing wrong
I also sent the text with no response
Is there a way I can still access?

[galejordan]

I shared this with our CEO, we are a group of many companies, he would have gained a wealth of insight if he took the time to listen. That financial leadership team has to be sound and know what they are doing, otherwise all of the budgeting in the world won't help. The leader also has to be willing to listen to sound and sage advice, while always listening to their business intuition, which is what made them a business man or woman in the first place. It's a balancing act.

[taqueriaguadalajara]

Dave I have no words, you have been the answer to my troubles I have learned so much throughout the past year in my personal life and in my business specifically because everything you do is always based on the wisdom of the word.
GOD bless you and your family thank you 🙏

[Acemaster]

Ha you all must have an amazing leadership team if they were willing to temporarily suspend there pay in order to hoard cash. I’m assuming these were shareholders? Wow

[rebekahmays]

Really. Awesome. Stuff. Thank you George, Dave & Jeff! (And the whole team behind the scenes.)

[crystalstump]

Great video. I am curious what perks the Ramsey team gets to keep team morale high.

[ghostriley]

I love listening to these podcasts! They're easy to understand with not a lot of technical detail terminologies for common people like me 😁

[jeffreyrichardson]

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