Nothing about owning and running a business is easy. Every entrepreneur faces unique challenges, particularly when it comes to growing.

You might know Dave Ramsey’s name from his personal financial advice books and video content, but he’s a successful entrepreneur in his own right and has some proven strategies for more than just individual and family budgeting.

In a recent episode of his series just for entrepreneurs, which you can watch below, Ramsey identifies five key stages of life for a business owner: the treadmill operator, the pathfinder, the trailblazer, the peak performer, and the legacy builder. How entrepreneurs handle each stage and, more importantly, the transitions between those stages is incredibly important. Watch as he gives specific advice to entrepreneurs to help grow their businesses successfully and responsibly.