Ask Dave On Business With Dave Ramsey

Balancing Business and Personal

1. Dear Dave,

I own a small company, and lots of times I feel like I’m devoting too much time to the business and not spending enough time with my family day to day. How do you find a balance between home and work?

— Pat

1. Dear Pat,

I get asked this question a lot. Truth be told, the idea of everything being in balance on a daily basis is a myth. No one can perfectly juggle all that life has to offer—the spiritual, emotional, financial, home, work, and physical—every single day. It’s just not possible. Still, you need to make sure you strive for balance over the scope of time.

I started running a few years ago, and I’m out of balance if I’m training for a marathon, because I spend more time training. The same is true with work. There are times when you have to work hard, and occasionally this can bleed over into other things. I think the answer lies in really being into whatever you’re doing. Listen and participate in conversations with your kids instead of watching television. Take your spouse out on dates, and turn off the cell phone. When you’re with your family you should really be with them. Then, when you have to work, chances are they won’t be mad at you.

We all waste so much time, and then complain that we’re out of balance. Ebb and flow takes place in every aspect of our lives. So, I think we should all stop wasting the time we have!

— Dave

Is Multi-Level About Money?

1. Dear Dave,

I got myself into a multi-level marketing group several months ago. I’ve heard that a lot of people in this organization are making good money, but I’m not one of them. At this point, I’m not sure if I want to stick with this type of business. Can you give me some advice?

— Mary

1. Dear Mary,

First of all, you’re only being told about the ones who are making good money. Lots of people who become part of these organizations don’t earn a lot because they don’t have the proper skill set to succeed in that kind of environment. The big earners are the ones who are good salespeople and good recruiters.

It sounds to me like you’ve already discovered that selling the product you’re selling isn’t where the money can be found. The money is in recruiting others into the organization. So, you need to ask yourself if recruiting and building a high-turnover, large sales organization is what you want to do for a living.

Take a look at the future, and see if you can envision yourself with 50 to 100 people in your hierarchy, knowing that a certain percentage of them will disappear every 90 days or so. A lot of people like the idea of making money, but they don’t want to do the hard work and make all the contacts to get a large number of people to join the organization. In this type of scenario, you have to know that you want to be a recruiter and trainer, and you have to want to grow other recruiters and trainers of salespeople. If that’s your thing, then you can make some money in a multi-level company. Stick with it, and build up your hierarchy.

But if you’re looking to simply make a little money by doing something on the side, you should probably look somewhere else.

— Dave

Assessing Prospective Renters

1. Dear Dave,

I’m a landlord, and I’ve always felt it’s not a good idea to rely entirely on previous landlords, or apartment complexes, for referrals on prospective tenants. Do you have any tips for selecting good renters?

— Jean

1. Dear Jean,

Most landlords aren’t thorough enough with the screening process. You can’t get to know someone without spending some time with them and digging into their personalities and backgrounds a little.

I have several rental properties, and here are a few tricks that work well for me. I always pull a credit bureau report on prospective renters. I also get a big deposit up front. I spend quite a bit of time talking to them one on one, as well, so with all this they’d have to be a pretty good con artist to get past me.

Another thing I do is to drive by the place they’re currently living. I like to see what condition the house is in, and if they keep the yard maintained. To me, this is a great indication of how responsible they are and how they would treat my property. It’s not a bad idea to get some proof of them having made previous rental payments on time, either.

In some ways it’s a leap of faith any time you sign an agreement with a new tenant. But there are things you can do in order to make a more informed decision as to whom you’re doing business with. Lots of renters appreciate knowing they have a landlord who handles things in a professional manner.

— Dave

Just an Idea, or Your Calling?

1. Dear Dave,

How do you know when you’ve found your true calling when it comes to your job or your business?

— Matt

1. Dear Matt,

I’ve met a few people who’ve had a spiritual experience in this area. Something has happened, almost like they were struck by lightning, and they knew what they were supposed to do with their lives. This isn’t the normal way people come to realization about their futures, but it does happen from time to time.

I believe this kind of revelation usually starts out as a simple idea that grows into a job, and maybe into a career or business. Then, it evolves over time into a calling. That’s how I stepped into what I’m doing today. I can’t honestly tell you when I started on radio, or began writing and teaching, that I knew it was God’s purpose for my life. But I felt the weight and the drawing of it, almost like a magnetic pull.

I’ve been doing it for 20 years, so it definitely evolved over time into what it is today. And I’m positive it’s the reason I’m on this planet!

— Dave