This Is Why You’re Still Broke (And How to Fix It) | Dave Ramsey

BigDeal

Codie Sanchez

Business, Investing, Entrepreneurship, Marketing

4.8 • 681 Ratings

🗓️ 2 April 2025

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Codie has the one and only Dave Ramsey. Dave shares his personal journey from financial success to bankruptcy, emphasizing the emotional toll and the lessons learned from his struggle.He discusses the nature of money as a tool rather than a moral compass, addressing misconceptions about wealth and its relationship to evil. Codie and Dave dive into the importance of leadership in organizational growth, innovative methods for screening candidates, and the significance of fostering a positive company culture. Chapters 00:00- From Success to Bankruptcy: A Personal Journey 02:58- The Emotional Toll of Financial Struggles 05:47- Lessons Learned: The Value of Experience 09:08- Money: A Tool, Not a Moral Compass 12:01- The Misconception of Wealth and Evil 15:02- Leadership and Organizational Growth 18:04- Building a Team vs. Hiring Employees 21:03- The Importance of Company Culture 23:53- Gossip and Its Impact on Workplace Dynamics 26:58- Hiring Practices: Trusting Your Instincts 32:52- Innovative Hiring Practices 35:44- The Importance of Integrity in Leadership 39:15- Understanding Entrepreneurial Stages 50:01- The Challenge of Succession Planning 53:00- The Heart of Entrepreneurship: Serving Others 58:15- Navigating the Pain Cave of Business MORE FROM BIGDEAL: 🎥 Youtube: / @podcastbigdeal 📸 Instagram: / bigdeal.podcast 📽️ TikTok: / big.deal.pod MORE FROM CODIE SANCHEZ: 🎥 Youtube: / @codiesanchezct 📸 Instagram: / codiesanchez 📽️ TikTok: / realcodiesanchez OTHER THINGS WE DO: Free newsletter: https://contrarianthinking.biz/3XWLlZp Biz buying course: https://contrarianthinking.biz/3NhjGgN Resibrands: https://resibrands.com/ CT Capital: https://contrarianthinking.biz/4eRyGOk Main St Hold Co: https://contrarianthinking.biz/3YfGa8u Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	One year I made $250,000. The next year I made $6,000. We got sued 78 times. Going way back when you were 26, making a couple hundred thousand dollars a year, flashed for a year, bankrupt.
0:11.2	I got my degree in real estate, and I sold my first house three weeks after a couple hundred a year. But I'd borrowed too much money, and I had a lot of short-term notes. The bank
0:24.5	got sold to another bank, and a guy in another city looked down, so there's a kid, 24 years old,
0:29.0	owes us a million dollars, this is crazy. And they said, let's limit this relationship,
0:33.3	which is banker-tapped for ruin his life. And that started a snowball that took two and a half years to unfold.
0:40.0	And we were bankrupt at the end of it with a brand new baby, a toddler,
0:43.2	and marriage hanging on by a thread.
0:47.9	Hello, I'm Cody Sanchez.
0:49.2	Welcome back to the Big Deal podcast.
0:51.2	Today you are in for a treat.
0:53.2	If you are sitting alone in your business right now
0:56.0	wondering, how do I take it to the next step? If you're struggling financially or unsure how to
1:02.1	break through the level that you're currently at, there is literally one guy who for more than 30
1:07.0	years is helping people change their complete financial future. He's arguably the best in the
1:12.7	world to add it. And he does it in a way where he's going to slap you on the face a little bit
1:17.2	and then also make you feel better about it. Maybe even give you a little Nashville cookie in the end.
1:22.4	I think you guys know who I'm talking about. I'm talking to the legend Dave Ramsey today.
1:26.4	And we've broken down stuff that I've
1:28.3	actually never heard him talk about before, like how to grow a business in a way that is repeatable
1:33.8	every single time and like what to do if you are sitting in the dark, head in the hands,
1:38.4	unsure of what to do next. So without further ado, let's get to the man himself, Dave Ramsey.
1:43.1	Okay, first of all, the book's amazing.
	...

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