Dear Dave,

I have an idea for a small business I think would be a huge success. How do you feel about me keeping my current day job, and hiring a full-time manager for the business to handle the day-to-day operations, while I do the accounting and oversee things? If it does not break even or better, I can always close it. In my mind, I equate my plan to being like selling real estate on the side, while keeping my regular, full-time job. What are your thoughts?

– Victor

Victor,

To be honest, I don’t think there’s a high likelihood of success using this model. Unless, of course, you’re willing to devote 40 to 50 hours a week to this new business, in addition to the time you spend at your current job. In my mind, you would have a better chance of making it work if you bought an existing business with a manager already in place. That way, at least you would not have to be so entrepreneurial and constantly involved in things like adjusting the business model, checking prices and dealing with customers.

Honestly? This idea is not a lot like real estate at all. Real estate will run itself – for the most part – once you find a tenant. Also, the number of hours you’d have to put into selling real estate on the side is nothing like the time you’d spend getting a new business off the ground.

Here’s the deal, Victor. The secret ingredient to your small business success is you. You are the ideas, the passion and the energy. The problem with your plan is that you are only a small part of the equation.

Franchises and chains try to train this kind of stuff into people with pep talks and other forms of motivation, but when something’s your baby, it’s really your baby. You’re going do your best, days, nights and weekends, to grow it properly. You’re going to worry over it constantly, and treat it almost like it’s your very own child.

I love your entrepreneurial spirit, but I’m sorry, Victor. I just don’t like this plan.

It sounds like your idea is to swing by once in a while, eyeball things and crunch a few numbers. And if that’s the case, I would not waste my time or money if I were you. You’d probably benefit your community more by just giving what you’d invest in the venture to a good charity.

– Dave

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Dear Dave,

Our son has been married for about three years, and he and his wife are having financial problems. He wants to live on a budget and save money, while she hates the idea of budgeting, and always wants to buy expensive things. They make enough to get by, but they’re not rich. How should we handle it when he asks us for advice?

– Stan

Dear Stan,

If he can’t get her to realise these habits are hurting them and their financial future, and if it’s an issue they are going to continually butt heads over, it would be smart for them to sit down with a good marriage counsellor or pastor. Something like this needs to come from a neutral and objective third-party.

Do you get what I’m saying here? The last thing he needs to do is go back to his wife spouting stuff like, “Well, my parents said …” Remember when you were first married, Stan? You did not want your in-laws always hovering around putting in their two-cents worth, either, right?

I know you folks are concerned. It’s only natural, because you love them and care about them. But if your daughter-in-law feels like her in-laws and her husband are ganging up on her, it could do way more harm than good!

– Dave

• Dave Ramsey is an eight-times national bestselling author, personal finance expert and host of The Ramsey Show. He has appeared on Good Morning America, CBS This Morning, Today, Fox News, CNN, Fox Business and many more. Since 1992, Dave has helped people regain control of their money, build wealth, and enhance their lives. He also serves as CEO of Ramsey Solutions