You have to hear them mooing, and shoot them. You have to kill the sacred cows every morning. "You your principles, but change your processes. Other than the mission itself, nothing is sacred, he says. However, the 56-year old assured me he's not concerned, as he rattled on about iHeartRadio, Spotify and iTunes. Publishing and radio, Ramsey's primary industries, are both being turned upside-down. Ramsey is passionate about iteration, which explains the longevity of his products and programs. Weird or not, he must be doing something right, as Ramsey Solutions has been voted one of the best places to work in Nashville nine times. "We started recognizing, okay, here's a behavior we're not going to sanction. " just a little bit at a time," Ramsey said. The mission comes first, which is how he and his employees formed their company culture over time. As an employer, he does not claim to be a great fit for anyone and everyone.
Ramsey explained that he, a devout Christian, is often viewed as "weird" - as is his business. If you want to stick it out through years of small turnouts, rejections, bad hires and more, you need to focus on something larger than yourself. "We just knew we were going to change the world," Ramsey explained about those early years. They figured it out as they went, because they believed in what they were doing, which brings me to the next lesson from Ramsey.
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He openly shared that he and his now 20-year-employee and producer, Blake Thompson, didn't know how to do radio, he and his wife didn't know how to do live seminars, he didn't know how to start hiring. I appreciated Ramsey's honesty as he shared the beginning of his story, during which he said "we didn't know" five times. Pray with a single mom who's scared to death, and it's 11:30 when I'm taking the screen down." 4. Then, he explained, he would go home to shower again and then "go back over, teach. The three-hour show was followed by more time at the office, then personally setting up chairs and a projector at a local hotel for a Financial Peace seminar that evening. Ramsey shared that his beginning was "ridiculous." His day began early at office, followed by driving "100 miles an hour" to the radio station. There is simply no substitute for long hours at the beginning. In every single one of my interviews, this comes up. He also said yes to random radio appearances, which eventually led him to become one of the most popular radio hosts of our time. If I could just go talk to the Kiwanis Club, some little dinky Sunday school class. "I took every speaking engagement, anytime anybody let me talk anywhere, whether they paid me or not. How did he do it? By speaking to anyone and everyone that would listen, on every platform he could. Over those four years Ramsey built a small Sunday school class, advising friends and family, into seminars with over 300 attendees. We were making about $120,000," he shared, adding with a laugh, "So we stepped out on that, and sure enough, we made $62,000 the next year." 2. " Sharon and I said, 'Okay, now that we've we can probably live on about $60,000 a year. He grew his real estate business back up to six figures and using that as his income, grew his financial counseling business slowly on the side, for four years. Ramsey started growing Financial Peace, but it was as what would today be called a "side hustle." It's popular in entrepreneurship to want to go "all in" - but Ramsey advises prudence.
I jumped at the chance to join him at Ramsey Solutions in Nashville, Tenn., recently and ask him how he bounced back and built his mission into a massive success. Along the way he wrote five New York Times bestselling books, grew his audience to 12 million weekly listeners and has had more than four million customers go through his flagship program, Financial Peace University. He has a popular story: The young bankrupt husband and father rebuilds his life and starts a business that grows from a church Sunday school class into a 500+ employee media empire. The no-nonsense CEO of Ramsey Solutions is on a mission to get American families out of debt.
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If you have ever so much as Googled the word debt you've probably heard of national radio host, TV personality, author and money management expert Dave Ramsey.
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