Columns and Blogs

Planning to Lead

Dave Ramsey Entrepreneurship
America's trusted voice on money and business, Dave Ramsey is a personal money management expert and extremely popular national radio personality. His three New York Times best-selling books - Financial Peace, More Than Enough and The Total Money Makeover - have sold more than 6 million copies combined. His latest book is EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches.

Planning to Lead

Planning to Lead

Several years ago, I came up with the term “EntreLeader” because I felt it encompassed the best parts of entrepreneurship and leadership. In my mind, this is what a good business owner will be — someone who is a strong and ethical leader, who also has the energy, drive and imagination of an entrepreneur.

Every small-business owner knows that the challenges of growing a company change from day to day. You may be facing budget issues one day, while inventory or marketing problems could pop up the next. These things are just part of life for an entrepreneur. But many people don’t realize that to be successful, they have to also be a leader. I’m not talking about being a supervisor or a boss. I’m talking about being a leader.

The Future is Now

It’s a good idea to map out everything, from top to bottom, a year in advance. Having a five-year plan in place isn’t a bad idea, either. A five-year plan doesn’t have to be quite as detailed as the plan for next fiscal year, but as a business owner you should always be thinking about growth and opportunities down the road. What do you want your company to look like in the future, and how do you get there?

Thoughtful Preparation

You wouldn’t go on a trip to a place you’d never been without first doing some research and mapping your journey, right? Again, planning makes all the difference in the world. With a business, you can’t afford to get lost and waste a bunch of money. It’s your business, and that means it’s your livelihood. It’s the livelihood of your team members, too. A business owner owes it to himself, his team, and his customers to know what he’s doing and to account for every contingency possible.

Reaping the Benefits

Planning and budgeting efficiently and early can make all the difference in the world. Some people think they can manage and grow a business on the fly, but these enterprises usually don’t last very long. When you’re constantly reacting to what’s going on around you instead of planning ahead and taking progressive action, you’re robbing yourself, your company and your team members of their potential and chances for success!



Read other business articles


Dave Ramsey is America's trusted voice on money and business. He has authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership and Smart Money Smart Kids. His newest best-seller, Smart Money Smart Kids, was written with his daughter Rachel Cruze, and recently debuted at #1. The Dave Ramsey Show is heard by more than 8 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.