If you’ve ever listened to Dave Ramsey, you know his advice is loud and clear: Debt is bad. Cut up your credit cards. Live on rice and beans until you’re debt-free.
And while that might work if you’re a single person budgeting for groceries, it’s a total disaster for studio owners.
Why? Because running a profitable, sustainable studio isn’t the same as running a personal household. You can’t just “cash-only” your way to growth—at least not without missing out on major opportunities.
Dave’s advice works for personal finance, but in the world of event-driven, customer-focused businesses like paint-your-own pottery studios, it falls apart. Here’s why:
❌ No Credit, No Growth – Ramsey says never take on debt, but smart financing can help studios invest in inventory, marketing, and expansion without draining cash flow.
❌ No Emergency Fund, Big Problems – His system relies on personal savings, but as a studio owner, your business needs its own financial safety net to cover slow seasons, surprise expenses, and growth opportunities.
❌ No Flexibility for Scaling – Studios rely on seasonal trends, events, and retail sales—which means managing cash flow isn’t as simple as stuffing money in envelopes like Grandma used to do.
Running a successful studio isn’t about avoiding all debt—it’s about leveraging finances wisely. Here’s how:
✅ Invest Strategically – Use smart financing options to expand services, increase marketing, or renovate your space without killing your cash reserves.
✅ Build a Studio-Focused Budget – Unlike Ramsey’s personal budgets, a business budget must account for inventory costs, payroll, events, and seasonal trends.
✅ Use Credit the Right Way – Rather than avoiding it, use business credit cards to manage expenses, earn rewards, and build a strong financial profile.
Dave Ramsey’s advice might work for saving money on groceries, but if you’re trying to run a thriving, growing studio, you need a system designed for business owners, not budget-conscious families.
Want a financial strategy that actually works for studios? Let’s build a plan that helps you grow—without living on rice and beans. Click here to get started! 🚀
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Donna Bordeaux, CPA with PYOPAccounting.com
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.
