Episode Summary: The Simple Strategy Dave Uses to Motivate His Team

Podcast: The EntreLeadership Podcast
Host: Dave Ramsey (Ramsey Network)
Episode Date: January 19, 2026

Overview

In this episode, Dave Ramsey delivers actionable leadership and business coaching to real entrepreneurs facing real challenges. Through live call-ins, Dave focuses on how to instill an ownership mindset in teams, navigate the complexities of business partnerships (especially during personal crises like divorce), strategize for profitability amid rising costs, and make effective hires as businesses outgrow solo leadership. Dave’s advice centers on practical wisdom, culture-driven leadership, accountability, and his signature blend of no-nonsense encouragement.

Key Discussion Points & Insights

1. Instilling an Ownership Mindset in Your Team

(Caller: Luke, owner of a dog resort) [00:55–09:01]

• Compensation as Motivation:

  • Dave emphasizes aligning compensation with performance. Sharing profits (even informally) allows team members to “feel the pinch when there’s not [profit]” and the reward when there is.
  • Example: “Hey guys, we had a great month because you did… so I’m gonna give everybody a $100 handshake.” – Dave Ramsey [01:18]

• Culture & Core Values:

  • At Ramsey Solutions, a notable core value is: “We’re all self-employed.” This mindset is actively discussed and reinforced.
  • “We talk about what that means a lot. So one is you do it with compensation. Two is… it’s a core value.” – Dave Ramsey [02:10]

• Hiring and Firing for Ownership:

  • Hiring: Ask candidates about their alignment with the ownership mentality. “Are they gonna act like they’re an owner, or they got a job and they’re going to mail it in, come late, leave early and steal while they’re there?”
  • Firing: If an employee’s attitude doesn’t match the ownership mindset, address it directly and let them go if necessary.
  • Memorable quote: “If you’re just here to collect a check, this place will spit you out.” – Dave Ramsey [03:37]

• The Challenge with Part-Time Staff:

  • Part-timers are harder to instill with this mindset due to higher turnover and less engagement.
  • Dave recommends building a reputation similar to Chick-fil-A: known for training young employees with work ethic and customer focus, so you attract people who want more than a paycheck.

• Patience in Shaping Culture:

  • “You will have to constantly be polishing… over and over and over until you’re sick of saying it. And about that time is when people start hearing it.” – Dave Ramsey [05:42]

2. Business Partnerships and Divorce: Navigating Ownership

(Caller: Manny, HVAC business owner) [11:23–17:28]

• Partnership Pain:

  • Manny is in a business set up for tax advantages, with his wife listed as 98% owner. Now, amidst a divorce, he faces losing his company.
  • Dave cuts to the chase: resolve this in mediation, but if Manny can’t retain the business, dissolve and start over, transferring contracts if possible.

• Avoiding Future Partnership Pitfalls:

  • Manny wonders about making his brother a business partner.
  • Dave: “No, you don’t. You’ve had enough partners, Hunt. Did you not get enough of this already?” [16:07]
    • Dave strongly advises against family partnerships, recommending profit sharing instead of equity.

• Taking Over Business Operations:

  • Manny must learn the accounting and back-office work previously handled by his wife.
  • “You’ll have to learn to run the books, not just run the truck.” – Dave Ramsey [17:46]

3. Managing Tight Margins: Profitability Strategies

(Question from Corey in Fort Lauderdale) [21:44–27:17]

• Revenue Before Cost-Cutting:

  • Dave flips the usual advice: rather than looking at where to cut first, focus on revenue generation—add new lines of business, raise prices in step with rising costs (inflation).
  • “I look for revenue opportunities… because costs are going up, that means you did not raise your prices and everybody else in your business raised their prices.” – Dave Ramsey [21:50]

• Passing Costs to Customers:

  • Companies respond to rising expenses by increasing prices, not by sacrificing quality or cutting crucial team/customer investments.
  • “Increased costs do not cost companies money. They pass it on to the customer in the form of higher prices. That’s basic econ.” – Dave Ramsey [23:43]

• Smart Expense Management:

  • Review P&L for true waste, but, “You can’t cut your way into success, usually.”
  • Dave warns that real waste becomes common in large, bureaucratic companies—not small, scrappy businesses.

4. Hiring for Scale: Virtual vs. In-Person Assistants

(Caller: Steve, child care business owner) [27:17–33:10]

• “Am I Crazy for Prioritizing In-Person Leadership?”:

  • Steve, with 60 employees and $3 million in revenue, wonders whether to hire a virtual assistant or an on-site executive assistant.
  • Dave is unequivocal: “We don’t have any virtual assistants at Ramsey. And you’re big enough that you don’t need one with 60 people. You need your assistant on site.” – Dave Ramsey [28:00]

• Role of an Executive Assistant:

  • This hire is not a “1950s secretary,” but a right-hand with business acumen—potentially someone who’s run a business themselves—to help manage HR, marketing, and finance.
  • “They’re probably going to be worth it though, because… it’s going to increase your profitability.” – Dave Ramsey [31:12]
  • “I would almost like someone that had run their own business in the past… maybe even a little bit older person, you know?” – Dave Ramsey [31:29]

Notable Quotes & Memorable Moments

• On culture and hiring:

  • “We don’t want any employees, we want team members. And so, if you’re just looking for a place to collect a check, you got the wrong place.” – Dave Ramsey [02:57]

• On firing quickly for cultural mismatch:

  • “This is a condition of further employment. Do you want to plug in and be part of the team here and start caring about this place deeply, or are you just trying to collect a check?” – Dave Ramsey [04:05]

• On leadership and personal breakthroughs:

  • “Your business won’t grow until you do. When you lead better, your people perform better and your business wins bigger.” – Dave Ramsey [10:11]

• On partnership and regret:

  • “You’ve had enough partners, Hunt. Did you not get enough of this already?” – Dave Ramsey [16:07]

• On passing on costs:

  • “Increased tariffs do not cost companies money. Companies raise prices equal to tariffs and so they pass the tariff cost onto the customer.” – Dave Ramsey [23:36]

Timestamps for Important Segments

• [00:55] – Caller Luke: Instilling ownership mindset
• [01:06–05:35] – Compensation, culture, hiring/firing for ownership
• [06:35–09:01] – Handling growth, part-timers, culture transmission
• [11:23] – Caller Manny: Divorce and business partnerships
• [14:30–17:28] – Handling business split, profit sharing, operational transition
• [21:44] – Question on managing tight margins (Corey)
• [23:43–27:17] – Raising prices, adding business lines, expense review
• [27:17] – Caller Steve: In-person vs. virtual executive assistants
• [30:58–32:41] – Who to hire for executive assistant, compensation

Tone and Takeaways

Dave’s advice is candid, straightforward, and delivered with both empathy and a practical lens formed from decades of business ownership. He consistently ties business success to personal leadership growth, disciplined culture, and financial intelligence. The episode is rich in real-world, immediately applicable strategies—tempered by Dave’s core belief in the value of character, culture, and courage over shortcuts and easy fixes.

Closing Wisdom:
“Better a weary warrior than a quivering critic. This world needs more high quality leaders, so take courage and lead.” – Dave Ramsey [33:13]