Should Entrepreneurs Avoid Debt? Robert Kiyosaki vs. Dave Ramsey

Some gym owners treat debt like a dirty word.

They avoid it at all costs, convinced that cash-only is the only safe path.

But here’s the irony: many of those same gym owners call themselves entrepreneurs. And by definition, entrepreneurship requires taking on financial risk.

In this episode, Tim and Randy unpack one of the most critical mindset gaps holding gym owners back: the refusal to leverage debt.

They share:

• the opposing financial philosophies of Dave Ramsey and Robert Kiyosaki 
• how risk tolerance shapes business outcomes
• Why playing it “safe” might be the riskiest move of all

Tune in to learn how leveraging debt strategically could be the key to breaking out of survival mode and building a gym that actually gives you freedom.

Let’s dive in!

Key Takeaways: 

• Intro (00:00)
• Big changes coming to the podcast (00:28)
• By definition, an entrepreneur assumes financial risk (01:24)
• Dave Ramsey vs. Robert Kiyosaki debt philosophies (03:34)
• Belief in yourself is key to success (07:11)
• COVID, EIDL loans, and survival through debt (10:29)
• Options for SBA loans and funding (14:08)
• The role of credit cards and lines of credit (15:35)
• Gym owners’ hesitation to spend even with options (18:17)
• Why bankruptcy isn’t the end (20:21)

Additional Resources:

- Schedule your SpringBoard call

- Apply to join The Iron Circle

- Check out our Switch to Semi-Private course

- Get 30 days of Semi-Private Pro on us!

- A tool for deciding on new gym services – 5-Question Matrix

- Tim's new book – Built to Win by Tim Lyons 

- ProFit Accelerator: Helping Training Gyms Grow to 30K/month and Beyond Facebook group 

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