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How to Get Rich [Full Interview with Dave Ramsey]

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bring on a pmic I got cash that's how I

went bro walk me through how you ended

up scaling that if you had advice that

you could give 40-year-old Dave what

him I am super thrilled to be here today

because uh Dave's a legend and uh I'm

going to I'm going to give a little bit

of an intro from my perspective um of

you this is a little

scary um and I I actually wanted to take

the first like few minutes to um

actually just kind of like hype Dave and

I think it's because like on in the

marketplace of attention right now I

actually still think you're

underpriced um I still think that you

are underappreciated for the amount of

value that you provide to the audience

at large and flattery will get you

everywhere got me here

um but one of the things I wanted to hit

on was um like I see and I'm sure you do

or your team does like there are a lot

of people who take I you know I'll use

the term fake gurus but a lot of people

who haven't achieved you know a 100th of

the level of success that you have that

take a lot of shots and at you and you

know a lot specifically R your views on

debt but sometimes just in general and

um you know we have a big belief at at

acquisition. comom that the only people

ever hate you um are never ahead of you

uh and I feel like that's been extremely

true and it's been tough for people to

be ahead of you in general um but I just

want to give context for my

audience that number one uh you've been

doing this for three decades yeah a

little over yeah three decades uh and

your overnight uh three decade success

yeah for real just in time to get old

old

and what I'm going to be directing the

the conversation today around is

actually around business stuff so Dave

has a zillion things on Personal Finance

I mean I think that was the you know the

the wedge product that a lot of

everything um but because our audience

is predom business owners I want to

focus on how the actual building of

Ramsey Solutions and kind of some of the

things that you that you learned along

the way some of the big mistakes that

you did some things that you'd go back

in time and would have done differently

um and even as you've kind of scaled the

brand so that's kind of the direction

okay that work sure okay so um can you

give a little bit of background in terms

of how uh Ramy Solutions the education

business which was the first business

correct they've all kind of evolved

together okay um how did that come to be

and then what was your thinking around

the business model at that time and like

what has it evolved

into well um all of it started uh extremely

extremely

primitive I mean like 1+ 1

equals two barely you know kind of thing

and uh so like for instance we started a

I I I went down there as a talk radio

show or talk radio station in Nashville

at the time that was in chapter 11

bankruptcy and there was a guy doing a

bad financial show like a Saturday Night

Live skit you know on there I went on as

a guest on the bad financial show and I

didn't have any books I just went on for

fun I was actually promoting a real

estate Club I was in and um he said hey

I hear you're helping people with your

for with foreclosures and helping them

stop getting their car repoed or if

they're having financial trouble over at

your church are you doing that and I

said I'm just kind of doing that for fun

just to help folk as a Ministry at the

church and he goes well if you got any

questions about that call up and phone

rang and he never got any phone calls he

didn't know what to do didn't even know

how to put the guy on the air and so um

he said hey come back let's do that

again cuz the phone never rings and so I

went I did it like two times and then he

quit and we went down and talked that

guy that that was running that station

into letting us work for free and so a

couple guys me and a couple other guys

went on the air uh answering questions

uh uh in a really heavy hillbilly twang uh

wwtn you're talking Nashville y'all call

in I mean it was it was nasty buddy I'm

telling you it was nasty and uh but with

information was good and the phone rang

yeah from the very first day at at about

the same time I had finished writing uh

on my laptop in my living room uh on the

very first version of Windows this is

1992 uh my first book and uh I

self-published it carry it home in the

trunk of my car got a, copies and I went

on the radio and said hey y'all get my

book and um some people did and uh and

the 18 months later Ed to get to your

question yeah we moved the uh card table

out of my living room and one old beat

up desk from the days when I went

bankrupt and open an office in an 800t

month-to-month rent and me and another

guy the other guy was going to do

Financial coaching the way I teach to do

that I was going to continue to do that

and we launched a in April of 1994 a

class on how to handle money it was

actually how to avoid

bankruptcy um and one of the lessons was

on the different types of bankruptcy one

of the lessons was on how to stop a

foreclosure if it's an FHA if it's a VA

or if it's fannye different processes to

stop a foreclosure um and you know all

these different things and the people

that came weren't

bankrupt they were just making a lot of

money and spending it all oh okay so

they were broke it was all the money

comes in all the money goes out only the

name are Chang to protect the innocent

but they weren't behind on their house

payment right they just were fighting

with each other in their marriage and

they didn't know how to do a budget and

no one ever told them about insurance so

I took the bankruptcy and the

Foreclosure lesson out and replaced it

with a uh uh retirement lesson and

here's how Investments work lesson uh

compound interest whoa and which is you

know still for the general public causes

their uh brains to just go melt down in

in a wonderful way the first time you

see compound interest right yeah and so

yeah we that was called life after debt

um in April and uh four people came the

first night I sold three of them so for

you digital people I had a 75%

conversion rate cut up right but um I'm

telling you it was primitive overhead

projector bad suit you know that whole

thing and then we changed it to called

it Financial Peace University the five

months later in September 6 months later

and now Financial Peace University's had

10 million people go through it in 50

,000 churches have taught it

unbelievable so

for context the services that you had

was education with some level of service

kind of like holding accountable or

keeping them consistent on top of that

which the reason that I I was really

intent on talking to you was that in the

space that we're in today and obviously

the the marketplace has changed a lot

you have an education business and I

would say that the vast majority of

quote education businesses

are not perceived is legitimate mhm how

do you think you've been able to Anchor

in it like it's it's very clear that

rain Solutions is a legitimate business

obviously um but what do you why do you

think that so many of them are not

perceived that

way um what's the Gap what are what are

people missing

there I I honestly don't know I I know

that um in the financial World in

general um and I think most of your

listeners and you and I will agree to

this that that there's a lot of us I

grew up in that world and and I'm a nerd

by nature and got a degree in finance

for God's sakes and so I in other words

I thought the way to fix everything was

with the math

MH and math treats the symptom right not

the problem and what our brand

differentiator and it may be the

difference in what you're talking about

as well is that we did come to

understand that it's a behavior problem

it's personal finances 80% Behavior 20%

head knowledge I've said that like I

don't know 8 million times in 30 years

and um but it is and the problem with my

money is the guy in my mirror if I can

get him to behave he can be skinny and

Rich and we've talked about this all

these lines these riffs that we do and

we do them over and over and over and

over and over again and but it but but

that's the differentiator that's the

thing that said oh yeah because I mean

knowing how to do a budget is different

than actually doing one knowing how to

live on less than you make or that you

should is different than actually doing

it knowing that e 73 Donuts will make me

fat is different than not eating 73

Donuts right personal testimony but the

um but yeah that that stuff I think

that's the difference and then what has

happened is that if you go through and

you do the stuff that we teach and we've

got the systems in place to help you be

held accountable to do it and encourage

you when you're struggling and scared

and hopeless um but if you're arrogant

and prideful either way way we're going

to be there in your grill uh saying we

love you so much that you need to change

if you do this stuff and you actually

make the changes due to the

accountability that that that because if

you keep doing what you've been doing

you're keep getting what you've been

getting so you got to change the recipe

so if you change the recipe you have

success and lives

transformed is legitimacy that gives you

legitimacy and so in in other words I

don't know if they set out to be

illegitimate but they didn't maybe they

didn't have the uh the this the life

wasn't actually changed MH you know if I

join a gym yeah and then I don't get

anything out of that yeah I don't have

any weight loss no increased muscle tone

no um you know increased aerobic

whatever whatever it is you're trying to

accomplish if I don't get any of that

even if it's my fault yeah it feels like

the gym is illegitimate I don't think

the gym is necessarily illegitimate but

the results were illegitimate and so

then you get labeled that way yeah and

so I hear people say Dave Ramsey stuff

doesn't work the haters right and uh it

absolutely does not work unless you're

working yeah like I guarantee that I can

make you that personal

guarantee shifting back to the business

um explain to me how how the actual

product Suite developed over time so in

the beginning you had the education and

then you had the services that that

layered on top of that was that the main

thing for like a decade or and and like

walk me through how you ended up scaling

that was that all through media um we

had the okay the the radio show didn't

make money for a decade MH um because

they don't pay you to do radio uh even

today I don't get paid by radio stations

I have a a clock split with them and so

um and we didn't have anything to sell

when we split the clock and so we didn't

make any money so whatever we put in

radio was lost dollars um but it was the

megaphone it was the uh the the the lead

mechanism MH uh okay and so we we I

started doing some speaking and then I

thought hey we could do like a little

public event in town because we were on

only on the air in one but so we went on

the radio and announced and I think we

had um I don't know 100 people or

something come out and um paid us like

40 bucks or something to sit for 3 hours

or 5 hours or whatever it was and listen

to me Yammer in my hillbilly twang about

getting out of debt and so we had live

events started to develop we had the

little book so we had a little bit of a

publishing thing going and we had the

class itself uh which is a long form U

It's a combination of 12ep in curriculum

so to speak um a a and and so radio

publishing Live Events those were the

first and what becomes Financial Peace

University we're the first ele oh and

one-on-one coaching one-on-one

counseling we called it in those days we

now call it Financial coaching um so

there's no confusion that we're not

licensed therapists um some people can't

seem to it's not clear but anyway

coaching is hard to mess that up so um

yeah so we do that and each of those

things grew at different rates and so

there were different times in the 30

years that um Financial Peace University

was bringing in the Lion Share of the

money and then publishing would come up

and pass it m uh Live Events is pretty

much always been a slightly profitable

but really good second lead Source okay

so if you come to a live event um

because you heard us on the radio it's

going down the funnel the marketing

funnel so to speak and then they might

buy Financial Peace University which is

you know a nine week commitment and a

high you know instead of a $20 event

ticket it's $80 to go through it or

whatever that so we were working that

that and there were always books on the

back table too so uh and so once those

things worked and the book then we had a

New York Times you know the book

eventually evolved and was purchased by

a publisher and became our first New

York Times bestseller um once that

happened and then we start doing a bunch

of we start getting more and more radio

stations and doing more and more media

so instead of just doing the little

local news Sky we actually with the book

tour the first time got on the Today

Show and uh and then that opened up

something then that opened up something

and then pretty much been doing New York

media for 25 years um obviously all

that's free but it's lead generation and

so if I were to say this back to you the

the radio station served as the big

megaphone to gather attention and then

point it in a direction and one of the

places you'd point it in the earlier

days was the live events which

functioned a little bit as a conversion

event for you guys for a business

perspective and then those people would

get funneled into whatever was

appropriate for their budget uh you know

either they'd buy some books or they'd

buy the curriculum or they'd buy the

curriculum and some one1 counsel um I'm

already One One Financial coaching um

and then that machine has been what

you've continued to spin the wheel on

and Gathering more and more and more

media yeah we and we've got more and

more product mix now I mean we've got uh

you know we ended up uh I advertised for

a stock brokerage firm um and then when

I sent the leads the people would go

over there the local broker that they

went to would tell them to do stuff that

I had just told them on the air not to

do and so that didn't work and um people

are pissed off and uh uh yeah and so we

said well guys y'all can't do that with

the leads we send you well you can't

tell us what to do and I said I can tell

you you can't advertise so we're not

going to be on the air so we dropped

those folk and um so the product Suite

from there that was the core initial

product mix and then what we did was uh

we would hear about some need that was a

a similar thing but a finger off of that

so for instance a local coach at a

Catholic High School was took my

Financial Peace book and started

teaching his seniors cuz they need to

know about personal finance with and

then called me up and goes hey I hope

you don't mind I'm like well I don't

mind and I'm kind of complicated but

let's work together on this let me help

so I went over and spoke to him a couple

times there sweet kids and he's a great

guy Greg Carson he's a friend of this

day that was and we ended up out of that

developing a high school curriculum

that's now been taught in 48% of the

high schools 6 and a half million kids

have been through it and so um you know

that was again another product line that

Ed Solutions is another department if

you will inside of RAM today and pretty

substantial revenues for high school

college and even Middle School uh

curriculum and and then uh you know

Corporate America says okay we'd like

for our employees to get this stuff so

we take a modified version of the

Financial Peace University that doesn't

have as much of the bible stuff in it um

and we have to not violate um some HR

rules and stuff so we had to change some

of make it a little more of anill on

different things and uh it's called

smart dollar and gosh man Lots h I don't

know 10,000 companies have now taught it

including big ones like U-Haul and uh uh

Costco all of their employees have gone

through it so that's a whole another

product line but it's you know there it

so the the brand Suite or the product

Suite continues to evolve uh as we look

at different things where we can serve

uh we took over all the publishing and

so we do all our books now uh

self-published have for about a decade

how do you think about spinning out new

products like what to do versus like

because there's obviously focus in a

business right you limited time

resources like how do you say this is

going to be something we're going to

just partner with someone on or this is

going be something we're going to bring

in house and actually own entirely or

just not do it all and ignore and just

let somebody make some extra cash on it

and we just don't worry about it yeah um

well one thing we don't do is we don't

um we have made a conscious

philosophical decision to not sell

Financial products so we don't sell

insurance we don't sell Investments um

we don't sell real estate we endorse

people that do M but they don't work for

us they're advertisers of sorts Endor

our Ramsey trusted is what it falls

under that brand so some of them are

have ads on the podcast some of them we

say go to the website and fill out a

form you find the realtor we recommend

in your area that's Ramsey trusted that

kind of thing and so that way when I'm

giving real estate advice someone

doesn't say oh he's just trying to get

us to do that now they still say yeah

he's trying to just get us to be a real

estate lead but that's different than

he's trying to sell me a house or he's

trying to sell me a mutual fund we don't

endorse particular mutual funds uh and

we don't um sell Investments like that

so you can't say the reason Dave does

insurance is because or says term by

term insurance is because he owns a term

insurance firm because I don't and you

know one of the lies out there floating

around is I own half of Churchill

Mortgage which I don't own a dime of it'

been nice if I had they done really well

and I don't and I own half or some of

Xander insurance or both advertisers

have been with me 26 27 years years

consecutively and um but I don't own any

of those they're just they're they're

they're friends of mine but I've been

doing business with them for three

decades and they do really well and they

do a great job for a listener and so

those are media Partnerships they're

sponsors and that's how you sponsors

that's all they are I mean they're just

advertisers on the on the original talk

radio show which is now like you guys I

mean podcast and YouTubes and Tik toks

and everything yeah what have been some

of the major beliefs that you had to

break along on the journey from and if

so what's what's topl line revenue today

across all of the portfolio I'm calling

portfolio I'm using my own language but

across Ramsey Solutions Ramsey Solutions

uh revs will be a little over 300

million this year okay so for context in

terms of size here for my audience 300 a lot

lot

uh so what what what were some of the

because you know a lot of businesses

grow at least in my observation of

businesses is they're they're stepwise

it's they'll they'll grow they'll grow

and then they'll hit something and they

St there until they figure out whatever

that thing was and then they go super

fast again and then they hit another

wall and they keep going would have been

some of the you know two or three major

pivot Points in the business in terms of

your lessons or beliefs that you had to

reshape that allowed you to break

through to new levels of

growth you know I think because the

product line was so uh diverse um

the different ones of those were

stepping at different times M and itus

caused our actual Revenue growth to not

stair step but to be fairly smooth

interesting on a curve got it um but

like you know if we went for instance to

Financial Peace University it went

through different seasons where it would

go and then it would stop and it would

just sit you know and we're kind of in

one of those stop and sit modes now

because we're making this transition uh

from being primarily Church distributed

okay uh because churches aren't teaching

classes like that in this current

environment as much as they used to and

so we've got to have a more direct

consumer uh digital uh distribution

methodology and we're we're discovering

that right now so it's plateaued right

now got it Financial University is

awesome it's excellent but it's but from

a business Revenue perspective business

model it's you know its big spike would

have been the mid 2000s okay I mean it

made woo it went crazy up and it was

kind of like the 800lb gorilla Revenue

wise inside the building and then it

moved over to the other thing so uh what

are your question is not the stairstep

question your question was uh uh what

are some Milestones along the way like

lessons Bel shift that allowed you to be

an entrepreneur that could get to I mean

10 I mean do you remember when you hit

your first $10 million year your first

30 and your first 100 and your first you

know any any big changes that happened

in you as a person that that you can

denote and say I learned this and this

is why we were able to break through

that yeah I I figured out um fairly

early that um that organizations are not

going to

outgrow the character and uh

intellectual capacity

of their

leadership um primarily

me and so if I'm if I remain dumb in

some of the areas I'm dumb in then we're

we're not going to be at 600 million you

know I've got a uh or somebody else will

be doing it and if they remain dumb they

can't you just can't do it I mean

there's stuff you don't know and so I

was a I grew up in a real estate

household Mom and Daddy were in a

residential real estate business and so

I've been selling my whole life straight

commission for me self-employment as a

is my DNA I don't I don't know how to

think about working for someone uh so

and when you grow up in that world you

know you learn to kill it and drag it

home CU you ain't got anything to eat if

you don't kill something and drag it

home and so um very tactical MH and so I

couldn't Spell strategic when we started

and we got large enough that we started

hiring these things called mbas and

these people that actually had and uh

now over the years I've got a ton of

NBAs on the team and I love the NBA

programs most of them that are out there

they do really good job of teaching but

one of the things I learned almost

universally about NBA they are heavily

steeped in strategic

thought and so uh the NBA on our team

and me about uh 20 years ago made a

really good trade um they taught me how

to think strategically because I didn't

know how and I taught them how to work

so it was a good trade and so would you

say that basically them coming in and

talking strategy was a like a big unlock

in terms of grow critical thinking

skills I the way you solve a business

problem how do you you know I would just

go in there and go okay the answer is

activity just go run into the wall

enough times and the wall will fall down

meanwhile the NBA standing over the side

going hey Dave over here there's a door

if you just walk around I mean you don't

have to run into the stupid wall this is

dumb and so uh cuz they're looking down

on the maze the Lamberth and can see the

way through and I'm just going just get

after it just get in there and hustle

you know and you need to have both you

got have the energy of the hustle and

grind and the uh because wiin doubt

activity is the answer but um unfocused

unplanned activity is um not always fun

it causes pain sometimes too so we're

much better at uh what my friend Jim

Collins calls calibrated cannonballs now

than just firing

cannonballs would

you from a branding perspective because

I think you've developed a really strong

brand what are what are some of the

deliberate decisions you've had to make

to associate with versus not associating

with in order to continue to strengthen

the brand expand the media because I

would imagine like in the flywheel that

is Ramsey Solutions the media is a huge

part of that and so like what has been

one of the big things that kept that

wheel spinning and expanding compared to

the many other people who try to to top

you I mean even the people try and get

more audience more earballs yeah I uh I

don't know we discovered I don't know

how we figured it out it was accidental

I guess it was people getting pissed at

us in the early days we you know like we

would endorse something on the radio

just local T local radio station and you

know go to such and such a car lot well

somebody go over there and they go the

guy tried to screw me Dave he' call me

up on the air or call me up at my house

you know find me in the mall and go you

the guy you sent me to is a d gum crook

Ramsey and so now I can't trust you yeah

and um and I would lose the advertiser

cuz I would have to cancel them cuz I

was ashamed yeah of the

and uh so somewhere along the doing

stupid stuff like not vetting who we're

going to associate our brand with uh

instead of just buying just oh we were

so happy we had an ad sold you know we

made a little Revenue my God and then

you figure out that doesn't play well

because you're destroying your

credibility with the market we figured

out we were a trust brand and uh radio

endorsement taught us to be

trustworthy worthy of trust and uh so

we're very careful uh as a matter of

fact just a few minutes ago I came out

of a meeting where I turned down two

potential advertisers and the sales team

said we think we need to turn these down

but before we do it's a lot of money we

need to uh ask you and I said yeah that

that guy if we put that guy on he's

going to it's going to cause our

audience is not no that's not so would

you send your sister there would you

send your mom there would you send your

friend that you play softball with uh

you know would you send them over there

and if they don't pass that acid test we

don't put them on the air so if I won't

really buy it or I don't really believe

someone should buy it for their own good

MH um I mean like 100% of the things we

advertise I don't necessarily buy

personally at my stage of life but I'm

not the market for them either so um but

but I do believe in them and I believe

they're good for you and um sometimes

we've messed that up we've endorsed

things we shouldn't have endorsed in the

early days even I mean it's it's uh uh

in the last few years I've had a really

disastrous one that was mess it's caused

me all kinds of problems but um you know

initially started out good and then

turned bad and we didn't we didn't cut

them off fast enough uh and that's our

fault for not cutting them off but we

weren't doing it for money we were we're

trying to help people and so it's a

trust brand and so no single

relationship Advertiser endorsement is

uh it could not possibly give you enough

Revenue in our world to offset the

damage it will do if they don't take

care of the C customer yeah because

people all we've got is trust and if

they don't trust us for that they also

aren't going to trust us when we tell

them to get out of debt they're also not

going to trust us when we tell them hey

this is going to affect your marriage

you know the the advice we give is no

longer trustworthy if the endorsement is

not trustworthy so the whole stinking

thing ends up revolving around this word

and uh so we spend a lot of time

discussing and vetting and uh shees

clothing the holy it's a mess but yeah

it's it's okay it's worth the

effort I agree

I'm with you on that and I mean I think

that you know at acquisition. comom we

tried to do the the same kind of

approach which is like how can we be as

trustworthy asly possible because you

know we we do Equity deals and so yeah

we have a huge vetting process and you know

know

99.999% of the the audience I have will

never do business with me um but I still

need to treat you know everyone so that

the reputation which compounds is based

on trust so that we can do deals over

the long term and just to be

very uh transparent it

um it's emotional for me and most people

in this building when that doesn't go

right yeah when we mess that up somehow

because we our intent is to never mess

that up and when it gets messed up it

hurts our feelings more than it does

anybody's mentor of mine gave me this

quote you might like it he said uh never

risk the empire for a pot of gold there

it is that's a great one I love it so

speaking of pots of gold so 300 million

is where you're at right now what do you

see as the as the next thing to get you

know Ramsey solutions to 600 million

like you were saying earlier like what's

the what's the path forward there like

what do you see as the Strategic

opportunity what are you investing in

right now

um well we're seeing an explosion uh

with our every dollar app for one thing

it's um it uh with minimal effort

honestly has caught fire so we're going

to pour a little more gas on that while

we're at it we're going to put some

effort into it since it's working and uh

we do think that Financial Peace

univiversity is going to stair step

again and we've got to finish we got to

find that um methodology for delivering

those age-old principles in a new ma in

a new way we are a platform and delivery

agnostic MH I don't care how we get it

to you but we got to get it to you and

it's not and efficiently with the least

friction possible so people actually do

the stuff and so that that's there

um uh some things are going are

logistically have uh in the last say 20

of the 30 years have be not they didn't

shrink they grew but they don't have the

logistical ability to grow uh

revenue-wise as much an example that' Be

Live Events there's only so much of that

you can do and it doesn't it doesn't

hockey stick right you you because you

you have a bottleneck actual bodies on a

stage yeah and bodies to set the stage

up and that kind of stuff and number of

cities you can actually draw a crowd in

and that kind of thing so um the only

way you could hockey stick that thing

would be to run the prices where they

were just not for the average guy and

our whole thing we do is for the average

guy so um so that's going to if the if

it stays the same or grows at 5% and

something else grw at 50% it's going to

get to be a smaller and smaller piece of

the pie right mathematically uh but not

still not be something we're ashamed of

we love Live Events and I'm we're one of

the biggest event companies in America

we do great Live Events but uh but it's

going to end up that that one's not

probably going to be the answer um

unless now streaming could um it would

have to monetize for the first time but

they suck on monetization but uh uh but

it's good at getting information out

there uh so I uh um I we don't see hard

cover books as being something that's

going to hockey stick uh in the coming

years but I do think they're going to

continue to be a a valid part of the mix

um so it's probably more uh digital

application and delivery because it's

the easiest to scale and lowest cost of

goods and um and it uh more easily

iterates than anything analog and uh the

rate of

change uh has exponentially increased in

30 years MH it used what what used to

would take us five years to see unfold

in the marketplace is unfolding in five

or 10 weeks right now yeah and um how

fast uh entire social media platform

forms become irrelevant m is is kind of

amazing and uh so you know betting the

whole thing on one delivery mechanism uh

woo dumb and so

um uh in my mind anyway but yeah so so I

think whatever it is is going to like an

app like a budgeting app or a delivery

digitally of FPU or delivery digitally

of our entree leadership which is our

small business uh teaching and coaching

uh you know only have so many physical

coaches for small business guys right

and uh that's got a limiting factor do I

want 3,000 of those people on a building

no I really don't uh I'd lot rather

figure out another way to help you folk

out there and uh that that is um not as

Manpower hungry so when you said the

every dollar app just kind of like took

off is that like a micro example of how

product iteration works for you is like

let's throw something together let's see

how it works and then if it starts

taking off disproportionately to like

the effort you say okay now we're going

to invest more resources in it yeah we

put a huge amount of effort into

building it and launching the initial

yeah um it was a major initiative and a

push and then it kind of you know it it

it's had a good growth rate but it

really wasn't but something shifted in

the marketplace I mean literally last

four or five months right uh and the way

the consumer uh is viscerally responding

to the word budget mhm uh differently

than they were certainly uh 10 years ago

but probably even 10 months ago and so

when we develop things so we're going to

you know we've always iterated it we've

always updated it we've always made it

better every time and all that kind of

stuff but um there just seems to be uh

some attention that we didn't cause so

why not join the parade yeah right I

think probably some of that's the the

macroeconomic environment has changed a

little bit in the last you know in that

period of time people are probably

feeling the need for a budget and it

might be that I mean I think the product

the original launch on it was

uh it's probably coming up on 10 years

you know so okay and the um you know the

the number of people that are walking

around adults that have have uh never

lived in a world that wasn't a

smartphone world is much larger than it

was 10 years ago yeah and so the

marketplace has shifted in that regard

but the the the iPhone the uh um

whatever whatever smartphone is native

to a much larger percentage of the

population than it was uh when it was

launched so we may just be seeing that

demographic shift and that um they aging

into it yeah because they you know that

age group I mean if you're 28 you you

wouldn't ever think of doing a budget on

paper right it would not occur to you

that that could no more than you would

handwrite a letter in cursive you know I

mean it's just absurd so but you know

when I started all this that wasn't

neither one of those was that unusual

right So speaking of of of the app in

particular as as a an increasingly large

part of the pi um how does it measure

compared to the other pieces like just

by percentage you've got the events

you've got the education you've got

Entre leadership uh you've got the app

you've got the Live Events um like how

how do how do how do those divide up in

terms of uh like size for Ramsey

Solutions the Ramsey trusted items which

includes National advertisers and uh the

whole uh smart Vestor Pro all the

endorse all the people we endorse for um

investing all the real estate agents all

the there's about 8,000 9,000 different

uh people that we endorse for in

different areas tax all that tax and um

real estate and investing uh through

Ramsey trusted and then you've got a

singular National Advertiser like a

church on mortgage for mortgages all

that falls under Ramsey trusted so

that's a lot under there but uh the the

uh the national uh associations plus the

Strategic Alliance as we call them the

the what used to be called the ELP

program um probably amounts to 40% of

the revenue really um and

so not let not putting on back to our

earlier conversation not putting on one

that's bad yeah is a big deal there

because you're going to mess up the

whole thing you know you're going to

mess up the Empire with that singular

bad pot of gold and so we have to you

know to be a real estate agent and

Ramsey trusted you really are we're

really going to do the stuff we tell you

to do or we're really not going to let

you in there I mean it's a big deal you

know and so cuz we love you and we love

our customers and we want everybody to

have a Little Love Fest we don't need

anybody pissed off so you're really

going to do this stuff so that's uh uh

probably uh I think it's probably

sitting at about 40% of the revs right

now but that's half the ad gun building

too in terms of the 1100 people that

work here uh entree leadership is

probably uh 15% uh you know something

like that uh Financial p University is probably

probably

15% um you know uh every dollar is 10%

maybe or less it's less than 10% um but

they know they just kind of fall out

like that publishing and Live Events

together not that huge Revenue but again

they're almost middle yeah they're

almost lead Gathering things so um I'm

trying to think what else falling in

that p&l but just something like that

those are the big ones that's rocks how

do you think about reallocating or

reinvesting Capital within the business

versus taking it out of the business as an

an [Music]

[Music]

owner well we we uh don't randomly if we

have something we can I can get more

Roi here on something that we have a

high belief in than I could anywhere

else I mean certainly on mutual funds of

real estate I mean I love mutual funds

of real estate but I mean I can get a

th% Roi on launching a

and I can't even approach that on this

other stuff so I would rather deploy the

capital here uh but I don't need to

deploy it stupidly so um when in doubt

uh we take it home and uh when in doubt

take it out yeah yeah that's it and and

plug it into the you know plug it into

the generosity and plug it into some

more real estate or mutual

funds so um I'm going to I'm going to

Pivot a little bit on the on the

investing side because I wanted to give

you a something that you might not know

but you did a um a podcast with graham

Stefan and he was fun he's a great guy

yeah Graham's Graham's a nice guy he's

done he's done a great job too on his

stuff man he's followed in your

Footsteps in a lot of ways well he he's

he's different but I mean he's doing

he's good he's we like him yeah Gram's a

good dude and he showed you his

investment uh portfolio oh yeah that's

like a thing he does when he has people

on I'm like I don't know Graham I don't

know if I'm qualified to help you with

that yeah you said something to him that

massively changed the direction of how

we invested just so you know yeah so I I

just wanted to share that with you so I

think you had said Loosely well before I

look at this if this were your brain or

your knowledge or your experiences what

percentage of this pie would you say is

real estate versus stocks versus

anything else and he said well because

he had asked you do you think I'm over

indexed on real estate but when you

asked him the question he said well I

mean I guess probably 85% of my

knowledge is around real estate and I

think his portfolio kind of reflected

that you were like well then that's a

perfect mix for you and for me as we

were coming out of the of our liquidity

event we' probably taken about 40

million home before that wow good for

you that's awesome it's not 300 it 300's

gross dude I know you know the

difference in gr

net and um but anyways and so I had

during while I was growing the business

I I basically just didn't really invest

at all I mean I just put in indexes and

was like I'll deal with it later um and

then we had the liquidity event and I

had I talked to probably every guy that

I know was who was richer than me and

was like what should I do with all this

and the answers that I got were as

different as there are people under the

sun yep which left me more confused than

anything and so the reason that that

little piece of advice that you gave to

Graham was so meaningful for me was that

it was personalized because everybody

told me what they did mhm and what had

worked for them but you know one of the

guys I asked was like oh take all that

and buy one huge building and I was like

I don't know anything about I was like I

really I don't want to risk everything

on one building he's like well I've been

doing this 30 years like that's what you

should do I like but I'm gonna mess this

up that scares the crap out of me yeah

yeah I have no tenants and termites and

toilets and all that I have no idea any

of that stuff works

right and so when I thought back on when

I looked at that pie and thought okay

well what's my knowledge base it was

like it's all business everything I've

done has been business and all the money

I've made has been business and so um I

showed that clip to Lila my wife I was

like I think I think this is what we

should do I think we should just stick

to business and just buy businesses and

grow them I love it I love it that's

what we did with acquisition. comom is

that good for you that's a great wow but

that little piece of device changed the

direction of how I mean how we allocate

all of our assets and what we do because

it's funny because if I was going to

write a $5 million check into a building

I I I got like you know three or four

deals that were around that size in

terms of check size and um I'd get all

the way to the end and I was like I

don't know what I'm doing and I'm just

trusting that this is a good deal like I

had the Excel sheet and the you know

projector returns and all this stuff and

I was like I don't feel good about this

because I don't know when on the flip

side if I'm going to write a $5 million

check into a business I feel fine about

it because I'm like oh I know how like I

know I don't know everything obviously

mil things it's it's your it's your

sandbox right and so um anyways that's

beautiful I love that that's what what

happened was we had a product that we

called wealth coach for a little while

and uh we ended up doing these very

small but I don't know we charged more

than we ever charge like a th000 bucks

or something we always charge 20 bucks

so to come to this little seminars and

we would end up talking to these people

that were millionaires or 5 million or

10 million and I kept asking them okay

what do you put money into CU they're

they've actually done it they had money

like you've actually done it you had

money and so it's not someone with a

theory on Tik Tok you know and so um

what I kept hearing from them was this

array of all kinds of different things

so I couldn't it wasn't the answer to

the question wasn't a certain investment

made them Rich what it was was they put

money and stuff they knew yeah and I

mean one guy was a car dealer and he had

a massive CL classic car collection

which for an ego-driven person is a

horrible idea right but because because

you can lose your butt in in any kind of

collectible yeah but for somebody that

is in the car business and his his

grandfather had a dealership and he his

father had a dealership and he had a he

he knows that loves it he goes out in

the garage and pets the cars I mean you

know so guess what he's making that

portfolio seriously gave him a great

return now do I recommend to the general

public go get a car no no put money in

stuff you understand and you love and uh

don't put money in stuff because it sounds

sounds

fancy um or somebody you know it sounds

sophisticated cuz there's something

happens when you get money you think

that everybody that has money is

sophisticated about their investing and

what I figured out is almost no one is

yeah they're very primitive I mean a lot

of people I talked to were farmers and

you know what they about lots of land

they got dirt man that's it just dirt

and it don't even I mean they don't even

necessarily plant it but they just buy

dirt and one guy had 8,000 Acres of dirt

you know I'm like God in Kansas you know

I'm like golly I wouldn't need more good

I don't know anything about that kind of

dirt I like real estate but that would

scare me to death but for him it was the

most comfortable natural thing in the

world to your point and so I just

learned that put money in stuff you love

and you understand don't put money in

stuff because it sounds sophisticated

because you're getting ready to lose

your butt because you're trusting some

guy who doesn't have any money who's

trying to sell you something and um

driving a well a bad car and um so yeah

uh we w't name the bad car but anyway

yeah I mean that that's that's where

that came from was just anecdotally

hanging out with those folks and

researching it and it gave me peace

because I was starting to make bank for

the first time and I'm like I need to be

like doing double back flip limited

family Partnerships or some kind of crap

I don't even know what they are but I

probably ought to be doing one if I'm

making this kind of money and and then I

and you talk to a guy and he's like yeah

you ought to do a double back flip with

a Twist and I'm like n yeah but get

right up to it and I'm going you know I

don't half no I think I'd rather just

bury it in the backyard than that

because at least I know where it is you know

know

it's funny though because even with the

dirt example um there was a guy who uh

his entire investment strategy explained

an interview he's like you guys are

going to be bored about what we're going

to do for the next 55 minutes because I

can explain it in five and we're like

and you know I'm listenting I'm like

okay here you know here's it he's like

okay so what I do is I find a city and I

find the main street because usually

there's a a main street that goes

through the middle of the stat the

oldest street whatever it's like and I

take a ruler and I go out 30 miles he's

like and then I buy all that land he's

like and then I wait 20 years [Laughter]

[Laughter]

guy and what are what are the big any

questions yeah he's like so what do you

want to do with the rest of our time

together they're like so how do you head

he's like oh Buy in cash because you

can't you know can't take loans on land

and uh yeah that's that's what I do and

we've been doing that for many many many

minut I done with a guy the other night

that had2 billion do net worth and he

second gen but his dad was dirt doing

dirt mhm not unlike what your friend was

doing and um then he couldn't get the

bank to do the deal he was borrowing

money to do the dirt and so he bought the

the

bank it was a little Hometown Bank and

they screwed with him and so he bought

it and he's like okay now they'll behave

and um then he started making money on

the bank and got in and got to figure

out how Banking and and now they own

like 15 or 20,000 Acres three wineries

around the world and a whole bunch of

banks bunch of Community Banks and they

and they're billion multi-billionaires

and so yeah but it started from that and

they don't really do anything else it's

the wineries are more of a fun project I

don't I think they know what they're

doing with those probably the way he was

talking he knew wine and um the uh but

the uh but he knows Banks he knows dirt

and that's where all their money is yeah

and they're they're not Diversified for

having as much billions with an S you

know I mean it's it's interesting those

kind of people are enthralling to me and

it's interesting because most of of the

the billionaires that I have looked at

they usually make their money in one or

two vehicles that they know exceedingly

well where they feel like they have an

unfair advantage and like they they they

get there not because there's a

Marketplace Advantage but because they

have an information Advantage they know

it better exactly exactly and if you go

through the Forbes 400 I think it's 67%

last time I looked are first gen mhm

they're all billionaires now you don't

qualify if you don't have a b

and um their first gen and I think I

looked at

them of the first

gens uh it was 90s something perc were

business-driven MH so it was Michael

Dell you know Bill Gates um Hobby Lobby

David Green um Chick-fil-A TR Kathy um

you know and so they started a business

and it led to either they took it public

or they just monetized the crud out of

it and it just has a value Marketplace

valuation Oprah you know um but you know

the the secret of Oprah's wealth is not

her Celebrity Status it's the Empire she

built under the Celebrity Status and so

um you know you go down those things

like that and you go okay you can get to

one to5 million net worth with your 401k

and your paid off home yeah uh but you

you know mathematically impossible to

get to a billion in your 401k it's not

possible to do it so you got to do

there's other strategies to be involved

if you're going to do that so I wanted

to take a quick second because uh it

would it'd be hard for me to to to talk

to Dave Ramsey without talking about

debt and um a lot of people so in my

audience um I'm kind of dead agnostic I

don't talk much about it um but a lot of

people don't know that I actually have

no debt either and so everything I

bought to this point in my life has been

cash now I'm not against that I just

kind of like talk about uh you know when

I get right at the edge of something I

just I end up not doing it um it's been

that way with most kind of loone things

in general and I read uh Financial or

Total Money Makeover um years ago and

you had this line in there about debt

that was I'm going to try and say it

back to As I understood it because

there's there's obviously the B biblical

component but for everyone who might not

believe in that um I wanted to give at

least my ra my rational understanding of

how you see it which is that debt

introduces risk MH and risk when it when

compounded over a long enough time

Horizon no matter how big a number you

require any number multiplied by zero is

still zero and so if you know that

you're going to be playing this game for

a very long time even a small amount of

risk when you're going 200 mes an hour

can flip the car MH that was my

understanding of how you saw debt MH is

that accurate that's that's how I I saw

it or at least I interpreted your view

on debt yeah that line is actually from

Warren Buffett um he uh and one of his

his famous annual reports they're

they're very cheeky and fun to read and

especially the opening paragraph so in

one of those he he was talking about in

a down year like' 08 um you know we soon

discover that Leverage is not always

your friend those of us that could do

math realize that any number multiplied

by zero is going to equal zero and that

does that for you so yeah it's um again

having grown up in the real estate

business one thing you're going to do in

the real estate business when I was

growing up if you said I'm going to be a

real estate investor they took you to

the hospital they took out your risk

meter and they broke it with a hammer

and they put it back in you're not

allowed to to perceive risk if you're

going to be a real estate guy cuz and CU

it's every it's a glass half full we're

Eternal Optimus everything's going to

work out cuz real estate's always

awesome it's just awesomeness on Parade

you can't mess this up the renters will

pay your rent oh God that or pay your

mortgage you how can you mess this up

and you know so if if a little bit of

Leverage is is good then a lot of

Leverage is amazing and uh and that's

how I went broke yeah you know I

leveraged up to my eyeballs on had a

bunch of short-term notes in the bank

call did the unthinkable and called my

notes when they got sold to another bank

and they saw a 26 year-old kid owed them

a million two on a 90-day notes doing

flips this was before chip and Joanna

told us how to do it and so do a flip oh

my God and we didn't have HG to channel

to tell us how to fix up a house I

without cable TV I did this stuff and so

um yeah so that's where it came from and

then what happened to me because I lost

everything following

the borrow all you can

because it works plan um I had to stop

and go uh I think I've got a bad set of

rules the Playbook I've got sucks I keep

losing and my kids are getting skinny I

mean this is not working so when I did

that the first as you said the first uh

door I went through was I was had just

become a Christian and so I started

studying the Bible and so from as a

matter of faith I started reading

scriptures and all the scriptures say

negative things about that it doesn't

say it's a sin doesn't say you're going

to hell but it's stuff like the borrower

slave to the lender you're a fool if you

cosign I mean it says these things in

scripture and then you talk to old rich

people and they go well you stay out of

debt boy you know and okay that's kind

of Grandma God's and Grandma's ways of

doing it so what did I miss in Academia

when I fell in love with leverage from

an academic Viewpoint because how is it

it's in congruent to me that if this

book of wisdom

and these people M that are long in the

tooth with gray hair that have proof

social proof they've got money and they

kept it are all saying avoid debt what

is it that we missing in academic land

with my intellect so spiritual social

proof now I got to solve it

intellectually and what I ended up doing

I ended up speaking at uh Vanderbilt to

a group of NBAs early in my career and

it it it forced me to because I knew I

was going to go in there and get tackled

right because they're going to

go you're primitive you believe

the Bible you know you don't know

anything and you don't how to do math

and I know I know how to do math as a

matter of fact it's about all I know how

to do I'm a math guy so what I figured

out was was that in business debt or

real estate debt uh business is not publicly

publicly traded

traded

um no

one includes all the math mhm they leave

out a risk factor associated with debt

mathematically and so we look at a very

inaccurate and primitive measure of

Leverage and so if I can borrow this

money at 2% and I can invest it at eight

uh why am I not making six well a you

left out inflation B you left out taxes

but aside from that um and and that's

pretty basic because this is the

argument it's that it is that the

argument is that primitive right but you

did not adjust for the risk you took on

cuz think we can all agree if you have a

business that's doing $10 million

Topline and you've got uh $12 million in

debt you have a lot more risk than if

you had $2 million in debt and even $2

million is more risk than if you had

zero debt we can agree that debt is

equal to risk and if we can agree to

that then we ought to be able to assign

if we're going to really get down in the

analytical jungle uh we can assign a

mathematical formula to that well Tada

there is one it already exists we just

never applied it in that in the

investment World they teach us M to

adjust you don't compare an aggressive

growth stock mutual fund that has a high

peaks and valleys on the graph volatile

with a growth and income fund which has

almost no Peaks and valleys so a growth

and income fund may have a beta of

a08 meaning it is only 80% as risky as the

the

S&P when you're comparing it to uh an

aggressive growth stock mutual fund that

might have a 2.0 meaning it's twice as

volatile risky MH and so in that world

we're taught I mean one of the first

things you learn doing financial

analysis in that world is the you use

the beta as an inverse in the math and

you and you flip it on its head and you

multiply it through and you adjust for

risk mathematically so that you can then

say after you adjust for the volatility

the 08 versus the 2.0 versus the S&P is

a 1.0 it's your Baseline when you adjust

for that risk uh the perceived Return of

the aggressive growth stock mutual fund

at 20% rate of return where the other

one's making

11.2 it goes away it neutralizes it and

you might end up with with uh risk

adjusted that 11.2 will come up and the

20% will come down risk adjusted and

then you can actually compare apples to

apples but you've risk adjusted for the

volatility and mathematically we don't

do that in business right we just go oh

I want to buy bulldozer let's go get

50,000 at the bank yeah and I think I

can do it I think we can push some dirt

and that that is your risk analysis well

kiss my butt that is dumb okay and and

people do that all the time and so what

I determined was is that I'm going to go

I if you want to compare two dry

cleaners you know one has debt one

doesn't I've got a risk adjust for that

mathematically and you have to apply a

beta formula that I presented that to

this group of NBAs and they're all

sitting there with their jaws on their

lap going uh no one ever said that I

said it's because it's never been said

no one no one does it in the world no

one no you're not trained this way

you're trained that way and only one

bucket of Finance all the other buckets

of Finance zero real estate people do

this zero none they do not analyze risk

and so if you take risk out then

unlimited leverage right is logical but

if you say unlimited leverage they go oh

oh not quite maybe 80% maybe a 70% maybe

a LTV right and uh you know but if you

push them up to the edge they can

actually feel it a little bit cuz they

there's remnant of a risk meter in there

but it just doesn't function

anymore that's where that came from oh I

love it probably more than you wanted

but yeah no no I wanted to uh to kind of

hear your take on it and uh because

obviously you know in the business

acquisition world there's also debt

that's that's factored in now we've done

all all cash deals um up to this point

um but I wanted to just kind of hear

your take on it uh and I I quote Warren

Buffett a lot he's a big yeah but even

even in the publicly traded realm you

know if you we were taught and and still

taught bonds are debt mhm and so if

you're looking at a com company with

publicly traded stock it has a heavy

Bond weight yeah you discount the pte

you you don't compare that stock Apples

to Apples with a company has no bond

rate zero bonds they have zero debt they

don't have Bank debt they don't have

short-term debt they're sitting over

there debt free you you would give them

some benefit on their stock analysis

mathematically we're taught to do that

but again it does not transfer from the

mutual fund world or the publicly traded

world to the real estate world or the

small business World small business uh

privately held business don't even I

mean I know people that do you know have

a billion dollar Top Line and honestly

they don't even look at they just they

just some of a lot of them just don't

borrow money they don't even know why

they don't borrow money they just don't

borrow money cuz somebody told them to

one time and they go I like not being in

debt I can sleep better and that's their

entire analysis you know uh me I've got

analysis and I can do the country boy

thing too and say I just sleep better

bring on a pandemic I got cash yeah I

I'll I'll I'll I'll bring this home

because I had a and I could talk to you

all day um and I appreciate you taking

the time to to you know talk to me and

the audience the game been honored it's

fun fun conversation if you had advice

that you could and I I'll keep it

specific to business advice um that you

could give for 4-year-old

Dave what would you tell him then that

then play incremental long ball don't

look for the Home

Run um I keep waiting for somebody to

call me and for this to get

easy one phone call and it's all over

and it's like oh now I don't have to

think about it anymore someone else is

going to do it for me it's all automatic

it's never going to be automatic it's

never going to be easy it's um it's a

hustle and grind it's a claw you're

going to make a bazillion mistakes make

mistakes that are experiments that you

survive you put out a hypothesis you

survive the experiment to live another

day to have another experiment put out

another hypothesis another product that

fails another idea that fails and our

failures at Ramsay are in New in number

and in money are way greater than our

successes the only thing is we survived

them a we didn't have debt and B we

never bet the farm on one horse and so

from a diversification standpoint we

never pushed all the chips to the middle

of the table on one hand and so we're

not looking for the singular home run uh

we're looking to survive and fight

another day and keep iterating and the

the culmination of that uh the

accumulated value of those iterations

are what we call the gleaming mountain

of success which turns out as a pile of

garbage and mistakes that you're just

standing on rather than laying under it

I love that uh one of the say that we

have in our community is 100 gold 100

golden BBS no silver bullets there you

go that's one that's exact you know you

beat me to that's much better than mine

I would have just gone with that you

know it's the same thing I keep waiting

on the phone call but I mean it's never

I had a couple of them I thought was it

and then I was um found out they were

just people and they weren't magic

what's funny because I joke with our

community because a lot of my community

is small business owners you know

probably you know from $100,000 a year

to1 million a year is probably like the

the broad brushstroke of the people who

are listening to this um and the biggest thing a lot of them suffer from is you

thing a lot of them suffer from is you know shiny object syndrome is that as

know shiny object syndrome is that as soon as something starts to get hard

soon as something starts to get hard something new looks easy and so they

something new looks easy and so they jump from the hard thing to the easy

jump from the hard thing to the easy thing and really it's just uninformed

thing and really it's just uninformed optimism and then they get into it and

optimism and then they get into it and then they have informed

pessimism that's beautiful that's beautiful yeah I mean by the time it

beautiful yeah I mean by the time it shines you're

shines you're light you're it's too late I mean if you

light you're it's too late I mean if you think Tik Tok is new you're late yeah

think Tik Tok is new you're late yeah it's already not

it's already not new it may have already turned down and

new it may have already turned down and we while we were talking right

we while we were talking right now well I mean if if we have a second

now well I mean if if we have a second let me know um in terms of how because

let me know um in terms of how because you've survived survived a strong word

you've survived survived a strong word uh you've thrived uh platform agnostic

uh you've thrived uh platform agnostic you know you have you I mean you were in

you know you have you I mean you were in radio you've done live stuff but then I

radio you've done live stuff but then I see YouTube clips uh of your show

see YouTube clips uh of your show pumping out every day you guys crush it

pumping out every day you guys crush it on YouTube and you do it kind of your

on YouTube and you do it kind of your way um how have you thought about

way um how have you thought about navigating platforms as they come and go

navigating platforms as they come and go and how you kind of like reinvest in

and how you kind of like reinvest in where where are we going to make a bet

where where are we going to make a bet and say okay we're going to start

and say okay we're going to start expending resources here or is it just

expending resources here or is it just if there's attention we'll go there like

if there's attention we'll go there like how how do you think through

how how do you think through that uh we try to go there and then we

that uh we try to go there and then we expend resources based on um results and

expend resources based on um results and so um the YouTube shorts that we've been

so um the YouTube shorts that we've been been pumping out is only about a year

been pumping out is only about a year and a half old and uh we're getting

and a half old and uh we're getting incredible results uh but we're getting

incredible results uh but we're getting results on those as an example um we

results on those as an example um we don't view those as life transformation

don't view those as life transformation items okay we view them as lead magnets

items okay we view them as lead magnets MH to lead you to the long form show to

MH to lead you to the long form show to Financial Peace University to a book

Financial Peace University to a book which are life transformation items so

which are life transformation items so um they're um free advertisements that

um they're um free advertisements that cause people to get a get a little

cause people to get a get a little sample get little little old ladies

sample get little little old ladies stand in Costco with a sample biscuit

stand in Costco with a sample biscuit right and so get a little sample and

right and so get a little sample and um uh get a little sample biscuit and

um uh get a little sample biscuit and then you may go buy the whole thing in

then you may go buy the whole thing in the freezer uh and but so we I would not

the freezer uh and but so we I would not do in other words our Phil philosophy on

do in other words our Phil philosophy on changing lives as while we're here we

changing lives as while we're here we would not only do YouTube shorts because

would not only do YouTube shorts because they don't change lives MH okay we would

they don't change lives MH okay we would not only do uh the new long form Tik Tok

not only do uh the new long form Tik Tok 6 minutes 7 minutes we would not only do

6 minutes 7 minutes we would not only do that uh because it won't change life um

that uh because it won't change life um and so it's got to lead us somewhere and

and so it's got to lead us somewhere and based on its response on doing that or

based on its response on doing that or just general activity around whatever

just general activity around whatever the item is whether it's a long form or

the item is whether it's a long form or short form uh it is we're going to we're

short form uh it is we're going to we're going to pour gas on where we're seeing

going to pour gas on where we're seeing stuff work and you know so we don't you

stuff work and you know so we don't you know for the last two years we put uh

know for the last two years we put uh little to no effort in growing Twitter

little to no effort in growing Twitter MH um Tucker Carlson might change that

MH um Tucker Carlson might change that it may become a broadcast medium mhm and

it may become a broadcast medium mhm and uh so we'll probably be on Twitter next

uh so we'll probably be on Twitter next week well elon's definitely pushing Elon

week well elon's definitely pushing Elon and he's going to but I mean if it's not

and he's going to but I mean if it's not going to just be a uh a cauldron for

going to just be a uh a cauldron for trolls uh then um and it's actually

trolls uh then um and it's actually going to put out some positive

going to put out some positive information uh in a way that is

information uh in a way that is consumable and could grow and Tuck if if

consumable and could grow and Tuck if if Elon proves that with Tucker I mean

Elon proves that with Tucker I mean we'll jump in there and try it right now

we'll jump in there and try it right now and all that is we're not going to put a

and all that is we're not going to put a ton of money on it or uh resources or

ton of money on it or uh resources or bandwidth on it but we're I this week we

bandwidth on it but we're I this week we were discussing we're probably going to

were discussing we're probably going to try it and uh tuck what Tucker's doing

try it and uh tuck what Tucker's doing and what elon's doing with Tucker and

and what elon's doing with Tucker and with that whole idea of broadcasting

with that whole idea of broadcasting there um because Facebook live is didn't

there um because Facebook live is didn't work I mean it's not working no not

work I mean it's not working no not anymore um not from our perspective

anymore um not from our perspective anyway but we're still there we're not

anyway but we're still there we're not we didn't abandon it but we're not

we didn't abandon it but we're not putting effort on it we YouTube shorts

putting effort on it we YouTube shorts yeah we got a lot of people in this

yeah we got a lot of people in this building working on that every day yeah

building working on that every day yeah you guys crank those yeah they do they

you guys crank those yeah they do they put out a bunch of them when you think

put out a bunch of them when you think about content for you are you cuz you're

about content for you are you cuz you're recording 12 hours a week correct four

recording 12 hours a week correct four days three hours a day 15 hour okay well

days three hours a day 15 hour okay well accounting commercials yeah we do we do

accounting commercials yeah we do we do three hour talk radio show every day

three hour talk radio show every day days is that the entirety of your kind

days is that the entirety of your kind of content creation and then the teams

of content creation and then the teams take all of that and disseminate it

take all of that and disseminate it through all the the

through all the the channels uh I do a podcast that I just

channels uh I do a podcast that I just took over that's callar driven on

took over that's callar driven on leadership in small business called

leadership in small business called onent trade leadership took that over in

onent trade leadership took that over in January that and the Ramsey Show are the

January that and the Ramsey Show are the only two things I'm on but Ramsey

only two things I'm on but Ramsey network has about 10 shows MH are uh

network has about 10 shows MH are uh YouTube Andor radio Andor I mean we put

YouTube Andor radio Andor I mean we put them on everything but um I mean the Ken

them on everything but um I mean the Ken Coleman show is the only ones on talk

Coleman show is the only ones on talk radio 75 stations plus podcast plus

radio 75 stations plus podcast plus YouTube um deloney John Dr John deloney

YouTube um deloney John Dr John deloney has a huge show on uh podcast and

has a huge show on uh podcast and YouTube only uh the Rachel Cruz with

YouTube only uh the Rachel Cruz with George camel the h smart money happy

George camel the h smart money happy hours but we sawdust every one of those

hours but we sawdust every one of those every one of those can say uh we're

every one of those can say uh we're going to take uh pieces and clips and do

going to take uh pieces and clips and do all kinds of things with them instead of

all kinds of things with them instead of don't go create uh well I say very

don't go create uh well I say very seldom do we go create a YouTube short

seldom do we go create a YouTube short of anyone in the building or anything in

of anyone in the building or anything in the building it is clipped from

the building it is clipped from something we were already doing so it's

something we were already doing so it's repurposed uh content that was already

repurposed uh content that was already developed for something else you know

developed for something else you know highly edited yeah I I mean because I've

highly edited yeah I I mean because I've I've observed what you're doing and

I've observed what you're doing and thinking like how can how can we do even

thinking like how can how can we do even more of that kind of stuff lots of

more of that kind of stuff lots of payroll yeah where our media is

payroll yeah where our media is um all right well uh this has been

um all right well uh this has been phenomenal and uh I'm honestly just so

phenomenal and uh I'm honestly just so grateful that uh they they had me and my

grateful that uh they they had me and my team out here um to uh is this

team out here um to uh is this considered Ramsey Studios is that what

considered Ramsey Studios is that what this would yeah we call it that Ramsey

this would yeah we call it that Ramsey solution Studios yeah um and uh just

solution Studios yeah um and uh just also so grateful for that one tiny

also so grateful for that one tiny tidbit that wow wow I'm honored I had a

tidbit that wow wow I'm honored I had a tiny bit to do with all that you do man

tiny bit to do with all that you do man you're amazing I'm proud of you well

you're amazing I'm proud of you well done means a lot I appreciate it well

done means a lot I appreciate it well thanks so much for having coming on the

thanks so much for having coming on the game thank you brother hope the

game thank you brother hope the something in the future absolutely you

something in the future absolutely you can count on it

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