EntreLeadership - Dave Ramsey

Have you wondered about what criteria to follow to make a good hire? Or if your small business had already the need to hire? These doubts among others are common in a leader world. In the book "Entreleadership", Dave Ramsey explains everything you need to know to be a good leader and entrepreneur.

Young entrepreneur certainly has these questions. But more than just show the trivial things about leadership, the author goes further, giving research to support his idea, with more credibility.

Moreover, there is no better way to learn if not with those who already are successful in business, such as Dave Ramsey.

Got interested about these teachings to change your life? Stay with us in this summary!

About the book "Entreleadership"

Published in 2011, the book is a 15-chapter handbook that contains all the wisdom you need to avoid making mistakes when managing your business.

There are 245 pages full of lessons and practical applications for the reader to understand what constitutes a successful leader.

About the author Dave Ramsey

Dave Ramsey is a successful businessman. A 26-year-old millionaire, he had lost all his fortune on bad business decisions and has rebounded over the next decade.

Nowadays he runs his business and anchors his own radio show. He has written more than twenty books, five of them were bestsellers of the well-known New York Times, such as "The Total Money Makeover".

To whom is this book indicated?

This book brings lessons that Dave Ramsey has learned from failure, it is suitable for any entrepreneur who wants to take his advice and learn from his mistakes.

Ramsey explains many concepts, from planning your day as a true Leader to dealing with the challenges you will encounter when running large companies.

Main ideas of the book "Entreleadership"

• A Leader/Entrepreneur has the passion and the ability to inspire and organization to lead the business to prosperity;
• A good goal has a time limit and it is recorded to be followed until it is met;
• Daily tasks should be classified according to their level of importance and urgency;
• State your fears out loud, and don't let it be a factor in your decisions.
• An entrepreneur has the love for his product and his customers above all;
• Every successful person does three things: deal with suppliers, charge and sign contracts.

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Overview: Defining a Leader and an Entrepreneur

With the help of a dictionary, we can define a leader as one who commands, guides, and inspires. The entrepreneur, on the other hand, organizes and is responsible for the risks of a certain project. Thus, Dave Ramsey defines the Leader/Entrepreneur as responsible for leading a team to grow and thrive a certain project.

Knowing this definition, which keeps the purpose of the work, we see that the next parts of this will be a manual that answers all the questions you would have about setting up and developing a successful company but had no one to ask.

Leader/Entrepreneur Basics

To be a suitable Leader/Entrepreneur you must understand that you are serving your team. It is important not to confuse a servile mentality with a subservient one.

The distinction is in serving your team members in such a way that you do everything you need - from scolding to complimenting them - so that they can do their job. You are not being a servant to your team, but a servant leader who works as a team with your employees.

Overview: Start with a Dream, End with a Goal

Company Vision / Mission

Having a vision is much more than just simply seeing what is in front of your eyes. It is an essential feature for a leader.

An effective way to formulate and maintain a consistent vision - for yourself and your organization - is to take time to write your vision. Define in one or two sentences the essence and your ultimate goal. Scoping makes it easier to achieve success.

Dave Ramsey quotes author Dan Miller and three simple steps to reflect and assemble his mission:

1. What exactly do you do, want to do or can you do?
2. How will you do it? What are the characteristics of your personality or organization?
3. Why? What is the purpose? What values, dreams or passions will you be working with?

Goals

After seeing the importance of dreams and vision, it's time to talk about goals. This is where all the work itself is.

A good goal that will serve you well has five main components:

1. It's specific and measurable;
2. Has a deadline;
3. Must be a goal you really want to accomplish;
4. Must be recorded and followed faithfully;
5. Keep setting new goals as the old ones are met.

Overview: Getting the most out of time management and organization

What is urgent and what is important

Dave Ramsey quotes author Dr. Stephen Covey to explain the four quadrants where we can fit the tasks we perform daily. They are:

1. Important and urgent;
2. Important and not urgent;
3. Not important and urgent;
4. Not important or urgent.

Understanding this is essential, as you can start by decreasing the number of tasks that would be part of the fourth quadrant, such as watching TV, checking aimless social networks. Any time saved here can be applied to the first quadrant, increasing the yield of your time.

The first and second quadrants are self-explanatory, but the third quadrant needs some care. The third quadrant encompasses tasks that are unimportant, but we perceive as urgent, such as checking that notification received on our cell phone, distracting us from a first quadrant task, for example.

In short, avoid the third and fourth quadrants at all costs.

Controlling your time with a to-do list

One way to understand which tasks belong in which quadrants, and to increase your daily productivity is simple: plan your day.

Make a list of tasks that need to be completed that day. Then reevaluate - is it really vital that all these tasks are accomplished that day? Then sort them in order of priority using letters A through C.

That done, reassess one last time, this time categorizing the priority of each task in the past category. Use numbers now. You must finish with tasks A1, A2, B1, C1, etc.

Now you have a list of the most important things you should do today in the ideal order to accomplish them.

Overview: The Easiest Way to Make Difficult Decisions

When you call yourself a Leader or Entrepreneur, you must put passivity aside. Being a Leader and Entrepreneur is not for a shy person.

In this overview from "Entreleadership", we will deal with the two main causes of indecision: Fear and Criticism.

Fear

One of the main causes of passivity is fear. Like a squirrel running around seeing a car, fear can paralyze and prevent us from making a smart decision. This can be fatal.

Dave Ramsey has devised a system for dealing with fear: He instructs his team to state their fears aloud, and then propose to make a decision without letting fear be the highest priority factor in that decision.

Criticism

A Leader/Entrepreneur cannot be afraid of criticism. Opposition to the decisions of them will always exist. The only way to avoid criticism, according to Aristotle, is to "do nothing and say nothing".

Be sure to make decisions despite criticism. It will always exist. Take it into consideration, but remember that you can never please everyone.

Elements for good decision-making

Some of the most important elements for a good decision are:

• Do not make decisions with the mind busy, or when you're tired, scared;
• Set a deadline for the decision;
• Allow adequate and necessary time to reflect on the decision;
• Always have multiple options/plans. Never put all your eggs in one basket;
• Be realistic and be aware of the worst outcome your choice can bring;
• Do not save time on research. The more information, the better the decision;
• Make decisions based on your personal values;
• Break big decisions into smaller decisions.

Overview: No Magic, No Mysteries

The momentum theory

When any area of your life has momentum, you look better than you really are. It seems that everything you try is a success and everything apparently goes in the right direction.

Dave Ramsey says that impulse is not a matter of chance, but something that can be created. Here is the formula:

Focused intensity over time, all multiplied by God equals unstoppable Momentum.

Overview: Don't Fry Burgers

A handy guide to making your dream take off

According to the publication date of the book, 98.3% of US companies had less than 100 employees. Don't be shy about starting your business small.

Instead of having a minimum wage job, this energy spent for little return could be used in setting up a small business, for example.

Time to take off

How do you know the perfect time to quit your regular job and devote your full attention to your small business?

It's easy to get excited about a new business, but "Entreleadership" suggests that you wait until the last possible moment to quit your traditional job. Do the math, and be realistic - will the extra time devoted to the company bring the expected return? If you follow reason, you will find the ideal window to jump out of your traditional job.

Overview: Hiring, Firing and Personality Styles

The main lesson we can absorb in this chapter is Dave Ramsey's twelve rules for good hiring. While some of them are unconventional, we cannot forget the success they have brought to the team of the author of this book.

The twelve steps for good hiring

1. Use prayers or just visualize and try to picture the ideal person for the job;
2. Advertise the vacancy and seek nominations;
3. Do a preliminary interview, 30 minutes maximum;
4. Review the curriculum and check references;
5. Use test tools (tests, group dynamics, personality tests);
6. Affinity with the candidate;
7. See if the candidate has enthusiasm about the desired position;
8. Check if the applicant is compatible with your organization's budget and mission;
9. Calculate how much will be spent on benefits, compensation, and present to the applicant;
10. Emphasize key result areas where the candidate really needs to show results;
11. Have a marriage interview. Dine informally with your candidate and partner;
12. Evaluate the contractor in its first 90 days.

Overview: Understanding the undeniable relationship between excellent communication and excellent business

Companies that do not cultivate and encourage communication are creating chaos. This is extremely unproductive and leads to failure.

There is only one way to achieve success within a team - share dreams, vision, mission, and goals. Ramsey found that the most efficient way to make sure his team is on the same page is a constant quality intentional communication.

Overview: Building unity and loyalty as your best resource

Union's five enemies:

1. Poor communication;
2. Lack of common purpose, goals;
3. Gossip;
4. Unresolved conflicts;
5. Encourage incompetence;

Few companies have union and loyalty. It is so true that when an organization has these qualities, it naturally stands out in the market and brings good results. This attracts talents in the field who want to work in an environment like this.

Overview: Amplifying Your Business Success Through Recognition and Inspiration

Dave Ramsey admits that this chapter does not work with deep revelations, but with very important reminders. Ask yourself from time to time if you are truly valuing and leading your team according to the principles below.

Personalized Recognition and Inspiration

Stay in touch with your team, and it will be easy to see a variety of situations where employees have done the right thing and can be congratulated. Don't generalize, really pay attention and give credit where they are deserved.

Just as it is important to recognize, inspiring is also necessary. So share sincere moments with them.

It's also important not to fail to set a good example for your team. If you arrive late and leave early, you will not be inspiring anyone to do their best.

Overview: Three Things Successful People Never Stop Doing

Not every leader applies these concepts on a daily basis, but a Leader and Entrepreneur never forget these mechanical fundamentals, where your entire business really works.

The three things are:

1. Deal with suppliers;
2. Make charges;
3. Read, draft and sign contracts.

These are mechanical processes, but they make it easy for us to practice them daily. Always try to optimize these three processes!

Overview: Mastering the Rope

There will be a point where your business will have grown so much that other leaders will need to be appointed. The key to choosing your leaders and delegating the tasks you no longer realize is surrounding yourself with people you trust. People who share the same values and missions.

Do not delegate any important tasks unless it is for a person who fits all the above categories.

What do other authors say about it?

In "Everybody Matters", the authors Bob Chapman and Raj Sisodia explore how true leaders must continually study to develop and develop those around them so that they can also become excellent leaders who believe and value people.

The author of "Traction", Gino Wickman, explores how successful entrepreneurs have an attractive and well-defined vision for their business. They also know how to communicate this message to employees.

Finally, in the book "The Complete Guide for Undertaking", in free translation, the authors Alexandre Sita and Elissandro Sabóia provide all the information about the entrepreneurial world and how to develop your entrepreneurial potential and guide your company towards success.

Okay, but how can I apply this to my life?

If you want to behave like a true leader like Dave Ramsey, follow the steps below:

• Dream, have a vision and then set realistic goals;
• Manage your time well by using lists and prioritizing tasks;
• Be rational, don't let emotions dictate your decisions.
• Don't be shy about starting small;
• Cultivate and inspire generosity, passion and good communication in yourself and your team.

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