The Ramsey Show - App - Building a Following on Social Media for Your Small Business (Hour 1)

Episode Date: December 11, 2018

The show about you

Live from the headquarters of Ramsey Solutions, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us. We're glad you're here. Open phones at 888-825-5225. That's 888-825-5225. Rebecca starts off this hour, Fort Myers, Florida. Hi, Rebecca. How are you?

Hi, Dave. How are you? Better than I deserve. What's up? Hi. My mother just passed away recently. She left me her 403B account. It's worth about $26,660.

After the taxes, it's about $21,000. After what tax? Stop, stop. It's what kind of an account? What was that? What kind of an account did she leave you? It's a 403B. Oh, okay. It's what kind of an account? What was that? What kind of an account did she leave you? It's a 403B. Oh, okay.

It's for her retirement. Yes. There are no taxes on this unless you cash it out. I'm planning on cashing it out. Okay. And that's what I'm calling because I have a car loan. It's about $11,000. But my student loans after the taxes equal that amount. So I'm wondering, should I pay off my student loan all at once,

or should I pay off the car and have about $5,500 left? I would pay off the car and throw the $5,500 at the student loan. It shouldn't be $5,500. You said it was $21,000 after taxes, and your car is 11,000 you should have 10,000 oh yeah sorry it's about yeah yeah so 10,000 towards your student loans then you've only got 10,000 to go right um i still want to have about 21,000 yeah you would have you throw 10 at it you'd have 11 to go. Yeah. 11 on your car, 10 on the student loans, 11 to go on the student loans. Okay. That's what I would do.

Let me ask you this, though. Let me stop you a second. The student loans, how many of them are there? It's the federal ones, so there's one on sub and one to sub, and they equal about $21,000. Okay. And break them down for me. Oh, gosh. I can't.

I have it in front of me right now. Okay. But it's basically half and half. Okay. Basically. So basically you're going to pay off one student loan and pay off your car. Okay. That's what it sounds like, right?

Yeah. Yeah. Yeah, so you have one student loan left to go. And, yeah, I'd rather you owe that than the car. And then you're going to get after it. What's your household income? Well, I'm a teacher, so in my state I make about $42,600. Great. And you're single?

Yes. And now you've got no car payment and only one student loan payment so you're going to be able to attack this student loan and you should be done with it in under a year right that's yes i'm hoping yeah i have my loans um consolidated yeah well you won one ten thousand dollar student loan or eleven thousand dollar student loan ought to be doable in a year making 42 and then does that make you debt free it it would um of that um i also have other small loans i have since she died she left me a rental house um and i have to pay the property taxes it's about 1889 i have two credit card payments and a personal payment but my biggest

focus was you know what this is a one-time gift. I want to use it wisely. Yeah, let's stop then. I didn't have all the information earlier. No. What you should do is you should list your debts smallest to largest, and you should take the $21,000 and go as far down that list as you can go. Okay. So I want you to pay that list as you can go. Okay.

So I want you to pay that. Are you going to keep the rental property? No. I'm actually going to sell it and split it with my siblings. Right. So the value of the house right now, and the people who are renting it, they actually are leaning into having to purchase it. Okay, so what are you going to sell it for?

Around $180,000. And what's owed on it? I'm not sure. Like I said, it was actually gifted to me. So I just know the market value is about $180 is about 180 you have no idea how much the mortgage is i have to no not no um the mortgage is about 1200 that's a month 1200 a month i'm asking what's owed on it i'm not sure so sure so you have a monthly payment but you don't have a balance. Yeah.

Okay. I can't remember. Okay. I think it was bought out cash. I was very young when she did it. I think it was bought cash, and she just rented it out. I highly doubt this. And, you know, if there's really any, but that was her last wish was to make sure the house is sold and to split it with my siblings.

Okay. That's fine. Go ahead and do that and pay the taxes. And before you split it with the siblings, let's say the house got $60,000 out of it, okay? I'm just making up a number. Then you pay yourself back for the taxes before you split with your siblings okay okay you should not have to pay the taxes and not and the siblings not bear their portion of that that's not that's not the correct way to do it the correct way to do it

would be to you get your tax money back you're're paying the taxes, so you don't have to worry with that until it sells. You don't want to lose it to a tax sale, right? No. So you're going to pay the taxes on it, but then you get that money back, and then whatever money's left after you are refunded for the tax payment, then split that with your siblings. Does that make sense to you? Mm-hmm.

Okay, let's do that. Now let's go back to our other thing list the taxes the credit cards the car whatever the uh the the the two different student loans and make a list of all of those debts smallest balance to largest balance and then when you cash out the 21 000 go down that list clear all of those if you're going to clear those credit cards, cut the credit cards up. Even if you're not going to clear them, cut them up and close the account. Okay? Pretty big.

Good, good. You're on track there. I'm ready to get this done. I have it on my list. Okay. But what's going to happen is you're going to end up with probably some balance on one of the student loans, it sounds like. Because I've gotten more debt in this discussion as we've gone along. And so you're going to pay both of those student loans off,

the little one that's left and the big one that's still sitting there, when the house sells. Yeah. Okay. So you're going to be 100% debt-free with the sale of the house. Yeah, that's actually, yeah. I hope. I hope there's enough equity in the house that your portion will give you enough to be debt-free with the sale of the house. Yeah, that's actually, yeah. I hope. I hope there's enough equity in the house that your portion will give you enough to

be debt-free. That's my hope in this situation. But either way, when the house sells, you get your money back for the taxes before you split up with everybody else. Hey, thanks for calling in. Bottom of the hour, Christy Wright, Ramsey Personality, will be joining us. And she is the founder of the Business Boutique Movement. And, wow, it is a movement.

Equipping women to make money doing what they love. And so if you're a lady and you're in business or want to be in business, or you're a guy and you have a lady that somehow you want to encourage her in her business, you've got questions for Christy, she's going to be with us here answering your questions from Business Boutique. A lot of stuff going on there. So be sure and get in line right now on the phones. The phone number, 888-825-5225. Ramsey Personality, Christy Wright at the bottom of the hour. Okay, things are getting pretty weird out there. I thought the Equifax

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I use it for my family and my entire team. Call 800-356-4282 or visit Zander.com. That's Zander.com. David is in Cedar Rapids, Iowa. Hi, David. Welcome to the Dave Ramsey Show. Thank you. Good to talk to you. You too.

What's up? I wanted to get your just an objective opinion here on whether I should sell my house or not. The thing is, I'm over the road truck driver. So I only use it about two days every six weeks or so. I've used your method of if I had the cash today, would I buy it? And I probably would not. Okay. But I have a renter. It's a duplex and I have a renter. So basically it comes down to, I'm only paying out of my pocket, including utilities and everything related to the house, upgrades, et cetera. I'm only paying like $450 a month for this thing, which, you know, you cannot find anything for that price. Agreed. Okay.

What do you make a year? Well, I have per diem and all that that and so it's all kind of weird but uh cash in my bank account is about uh 1 000 a week so 52 a year okay after taxes everything gotcha okay cool and how many bedrooms is bedroom you have the one i actually have the two bedroom oh okay okay um well the two bedroom will bring more rent right i it's um i have a the person that's renting from me. She prefers the one bedroom because it's cheaper. But she's been there for 10 years, and she's on Social Security.

So she takes care of the lawn. She takes care of everything for me while I'm gone. What about renting out one of your bedrooms like a roommate that you never see because you're never home? Well, I thought about that. I really rather not have someone I don't know that well in my apartment with all my stuff. I agree. I'm not going to be there once every six weeks. Okay. all right that's fine it's not that big an expense you can handle the expense it's just a matter of whether you want it or not i mean there's there's no slam

dunk answer here uh like oh you're crazy for having it or oh you're crazy for not keeping it there's no um you know there's no no wrong answer it's as said, it's not much out of pocket. It's about $5,000 a year out of pocket. It's fairly expensive for no more nights than you spend there, actually. But it is going up in value. You do have a renter. I think if your renter situation ever changed, I would move into the one bedroom and rent out the two bedroom, which would mean less out of pocket even.

That's what I was suggesting. Obviously, you like this tenant and you don't want to kick them out, but it's going to change someday. And when that changes, I would move it. I would move over to the one bedroom side and rent out the two bedroom side. And then you've got even less out of pocket. If you're going to keep it, that's what I'd do. Amber's in St. Augustine, Florida.

Hi, Amber. How are you? I'd do. Amber's in St. Augustine, Florida. Hi, Amber. How are you? I am good. Good. I have a little bit of a complicated situation. Well, I have a home in St. Augustine that we currently vacation rent, and it brings in a profit of about, after all our expenses, about $10,000 a year. My husband and I, we just recently, within the last couple of years, moved to South Carolina

where we rent a place for $1,200 a month. We just needed a life change, and he started a business there, and he worked for the Sheriff's Department, and everything's been great with that. Well, we're considering selling the house in Florida because we could pay off all of our debt and have about $40,000 in the bank because we're just tired of it. We're done with the whole debt thing. Well, and you could buy a house in North Carolina, right? Or South Carolina. Yeah, we could.

South Carolina, yes, we could. But the situation is we owe about $250,000 on the house. And the reason why we kept the house is because we have two of our daughters, which are adopted. They have free college in the state of Florida, and they also have free health care until they're 18. And we also get an adoption stipend for them. So we keep the house, kind of go back and forth to keep our residency in the state of Florida. So it's weighing on the debt or paying... How old are your daughters? Seven and eight. We've had them since they were babies. Sell the house. You're not a resident of Florida.

Yeah. You're lying to the state. Well, we're there. I'm there more. You have to be there six months and one day to be a resident, and you're not there six months and one day. Okay. So we'll sell the house. Ask the state what they think,

but I think that's what they're going to tell you, that you have to be there six months and one day to be considered a resident. Okay. And you don't day to be considered a resident. Okay. And you don't want to get money by lying. Yeah, we weren't concerned so much about the money. It was just we were thinking, you know, if we kept the house, we'd come back, whatever, but it's been working out here. Well, you were concerned about whether you were going to get the free health care and the free tuition.

Yeah, that too. Yeah, that's money. That's what I'm talking about. Okay. And you're not due that if you're not a resident, and I don't think you, that too. Yeah, that's money. That's what I'm talking about. Okay. And you're not due that if you're not a resident. And I don't think you're legally a resident anymore. So unless they have, maybe they have a law that says if you're there one day a year under this adoption provision, then you're considered a resident.

If that's the case, then you may want to think about this. But I don't think you're going to find that. I think you're going to find residencies established after, by staying six months and one day in that state to establish residency. That's what it is in most states and most situations. Again, I'm not an expert on the details, the nuances of the Florida adoption law. But if that's the case, you would be taking the money by having not told the truth. And you don't want to put yourself in that position.

I'd sell the house. I surely would. Hey, thanks for the call. Open phones at 888-825-5225. Angela is in Little Rock, Arkansas. Hi, Angela. How are you? I'm doing great, Dave.

How are you? Better than I deserve. What's up? I'm so happy you took my call. I am, me and my husband are in Baby Step No. 2, and we're a little shy of $300,000 in debt. Whoa. Counting the, in Baby Step two, you are counting their house.

Well, we're in a trailer right now that my husband bought for his parents 20 years ago. And it's still, we still owe about $33,000. What do you owe $300,000 on? Credit cards, personal loans, student loans is the majority of it. It's $132,000 in student loans. Good Lord. What's your household income? Net $99,000.

That's good. Okay. So you're working your way through $300,000 in debt. Yes. Oh, my goodness. Wow. So you're working your way through $300,000 in debt. Yes. Oh, my goodness. Wow. How can I help? Well, my husband wants to take, he's 59. He can take out some of his money out of his TSP, and he wants to take $50,000 and put on some property that we own

and put a veteran's home or something piece of real estate i'll just say and to house veterans as it's a real sweet sentiment but you're broke yes no okay well that's kind of it's a not i mean he's he's a good man and he's got a good heart, but you're $300,000 in debt. You make only $100,000 a year. You're not in a position to start building homes for a nonprofit to help veterans. You're broke. What I told them that I thought we could do is to rent out. We have a five-bedroom trailer that we remodeled ourselves.

It's sitting on five acres of land, and we could rent out, we have a five bedroom trailer that we remodeled ourselves it's sitting on five acres of land and we could rent out those bedrooms and move into an apartment and we would make income off of that versus and that's something that we already have

and we could take a little money and just fix up the little things that we need to finish on that but it's perfectly fine to have some renters in and start his business there yeah um that'd be okay i guess i'm not real thrilled about any of this honestly i'm not real thrilled about trailers that go down in value and keeping them. And I don't, you know, he needs, if it's a side hustle, maybe. But, no, you definitely don't take it out of the TSP for sure. This is the Dave Ramsey Show. It's time to take another look at your budget. That means scouring every expense and making sure you're not leaving any money on the table.

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That's 888-LOAN-200 or ChurchillMortgage.com. This is a paid advertisement. NMLS ID 1591. NMLS ConsumerAccess.org. Equal housing lender. 761 Old Hickory Boulevard, Brentwood, Tennessee 37027. Ramsey Personality, Christy Wright, joins me this half hour to answer your questions, ladies. She is the founder of the Business Boutique Movement, equipping women to make money doing what they love. Number one best-selling book, number one best-selling boot camp online, the Business Boutique Academy, very, very popular online. The live event always sells out in Nashville.

Just had that the other day, and over 3,000 ladies here for that. Lots of ladies plugging into this tribe and learning that they're already running businesses, learning how to run them better, and or maybe starting something, and maybe you're at the dream stage. So we're here to answer your questions this half hour. Ladies or gentlemen that have a question on behalf of your lady about starting something,

and it could be your mom, sister whatever jump in the phone number is 888-825-5225 welcome back christy thanks for having me i'm glad to be here good times good times all right let's check in with cammy in kansas city hi cammy merry christmas to you your question for christy merry christmas my question is i have a fairly new idea for a business, and my question is, before I launch my product or service, how can I build a large following on social media quickly? What avenues should I take? Okay.

I like this question. Tell me a little bit about your idea. So my idea is very passionate. I grew up in a very small town, and my mom and dad both worked very hard, and they still do. And we used to sit down and have dinner together, and that was probably the only time during the day that we got to sit down. And so one of the things that I like to do now is in my workplace and at home is create an environment at dinnertime or brunch or wherever and have time to build relationships.

And I love decorating, and so my idea is to create the details in a table setting, centerpieces, table runners, a formal informal place setting and provide it to people to rent because details is what matters and not everyone has time to go out and purchase everything to create a wonderful meal or experience. So that's my idea. Okay. Okay. Okay. So going back to your original question, you said, how do you build a social media following fast, a big one?

Why do you want to build one? Is this to launch your business to? Is that the idea? Yes. one. Is this to launch your business to? Is that the idea? Yes, I would like to, because they're renting the service and it's going to be driven with photos on a website and it's not necessarily a store or a retail place that you can walk in and say, I want to rent this. I want a following on social media so that they can see the kind of things that I put together. I want to show them pictures.

I want a following. I want to do some promos like share this and win the centerpiece type of a thing. I want people to come to my website. Sure. I got you. Okay. I got two things for you. Number one, I want you to check out a specific website called Kickoff Labs.

That's L-A-B-S, like a science lab, kickofflabs.com. And what that is is it's really a site that helps entrepreneurs just like you validate their idea, gauge interest from the marketplace, and even build an email list. So what you're going to be doing is saying, hey, here's my idea. What do you think of this idea? And people that are interested in your idea will sign up for your email list. And then when you are actually ready to launch, you have a list to launch to. I've had several businesses use this.

It can be a great way for you to learn about your idea and how it's received in the market while you're still kind of doing your homework. So I want you to check that out. Second, the best way to grow your social media following without paying money, without paying for ads and that type of thing, is through just really great content. So that means that you put out great content that people want to share because it's interesting, it's helpful, they identify with it, that type of thing. But that doesn't happen fast, typically. It's going to take some time, especially in the beginning. So when you have 100,000 followers, getting the next 5,000 is no big deal, but getting your first 5,000 can take a while. So I don't want that to discourage you.

I'm actually going to give you another thing, Cammie. In addition to checking out that website, I'm going to give you my course, Social Media Simplified, for free. This is a $200 course. It walks you through step by step by step how you can grow your social media platform organically. And there's even a lesson on how you can use paid advertising to boost your business and your brand. And it's gonna give you more clarity, Kimmy,

not only around your business, but how social media can help your business. It's gonna help you think outside of the obvious stuff like promo. So I'm gonna send you that course for it's going to help you think outside of the obvious stuff like promos. So I'm going to send you that course for free. Kelly will help you out. And those two things, I think, should get you started on the right track

to help you use that for your business idea. Okay, thank you very much. Kami, I will tell you, I know absolutely nothing about what you're doing here. It makes no sense to me because I'm a total guy. The chances of me renting a centerpiece are zero. Zero. but i didn't even notice if there was a centerpiece i just wanted some food but um but the uh just feed me but the but but so i can't really speak into the how the thing does i will tell you this having launched a whole bunch of different products in the last 30 years here um be prepared to change what you think you're going to do without changing why you're doing it it's good yeah in other words your prototype usually sucks

what you think you the way you think you're going to offer this is going to change and it might be that you okay because your heart is not about centerpieces your heart is about the family being at the dinner table having an experience and having conversations and there might be other things that you develop that create that experience and it might be a purchase rather than a rental. All of those kinds of things could happen. I don't know. I don't have any idea how your marketplace is going to behave. But the one thing I am positive of is I have never launched a single product that the second time I went to print, the second time I went back, the third time,

it always morphs, it always iterates, it always changes. So don't die on the hill of what you're doing. The hill you die on is why you're doing it. That's good. It's interesting, Dave, too, because I've noticed this in other businesses. Jessica of All Girl Shave Club, she used Kickoff Labs. And what was interesting is as she was gauging interest about this idea of a subscription shave service, the feedback she got helped inform the way that she modeled the whole business.

Because it's like you say all the time, this is a conversation with the marketplace. So you put something out there, they're going to tell you what they want more of or less of, and you change and iterate to adapt. So I love that you brought that up because so often we think, oh, I've got it perfect in my head. But they tell you they want something different, and so we're always changing and adapting. Business Boutique Academy. Right. We've changed it. That's right.

We retooled it. We changed how we offer that here, and even, you know, content at the live event has shifted. Planner. Let's talk about the planner, for example. So the planner, we just launched it this year. It's a brand-new product, 2019 Goal Planner. We created the very best planner we could think of, and the feedback we're getting already, because we started selling it, pre-selling it in October, is I'm so excited I want to use it now.

So we're dreaming up for 2020 planner. What would it look like to create some printable months, early months, for those people that buy it early that are so excited to use it, they don't want to wait until January. Or make a 14-month one. Right, exactly. Instead of a 12. Nobody said you had to do 12.

That's right. There's not a law. Right. That's based on feedback from the market that we didn't know when we started but now we know and you and you change it and adapt yeah if you don't have last year's right at which there don't because it's the first time we've done this right then that makes sense i mean but that you don't know that you don't know till you do it and and the cup your customers will tell you how to polish the rough edges off of what you're doing and or they'll tell you just suck you need to retool completely start again and so good news is on the planner

it's really really good and we hit the bullseye the stinking thing is selling we've just had to place another order yeah because we're running out and so if you want one of these planners by christmas i suggest you get on the stick you can get it at businessboutique.com or daveramsey.com in the store, either one. And it's the full goal setting, putting your plan on paper, making this whole business boutique thing, making your life happen. There's quite a planner craze out there. You ladies know more about it than I do, probably. But we're experiencing the craze around here.

This one is selling. So back with your questions for Christy Wright, Ramsey personality right here on the Dave Ramsey Personality, Christy Wright, founder of the business boutique movement, creator of this, equipping women to make money doing what they love. And if you don't know, Christy has launched a business boutique podcast on iTunes, and it is going Zoom, Zoom. Congratulations. Thanks. It's a lot of fun.

It's amazing what an impact a podcast can have. So many people are listening right now, so it's fun. Yeah, the ability to do it, to listen to things like this on demand is a big deal all right kendra is with us in birmingham hi kendra your question for christy uh yes my mom owns a massage clinic and um she has owned it for about five years now and she's getting relatively successful but she's met her max as far as what she can do by herself without expanding to more massage therapy professionals and things like that and so I'm looking for tips on how we could do that you, expand beyond just her means. Yeah, and are you saying she doesn't want to hire?

Well, we face the issue with, I mean, she makes a relatively good income. I guess about $50,000 a year herself. But with the business expenses and supporting herself and such, it's kind of like a barrier to get started just with that hiring process. She'd have to move to a larger facility. She has one room that she could hire for, but we've thought about the approach of renting it, kind of like a cosmetology booth. What's wrong with hiring somebody and putting them in that one room? supply their clients

and making sure that we had the means to pay them. And just the process of, I guess, lack of education on how to do that. Okay. Is your mom turning away clients? Well, she's she's usually about booked out for about two to three weeks in advance when people are calling is she turning away new clients no okay let's get her to that before you hire well the the reason she's kind of wanting to hire is or or break out from where

she's at is the fact that to deal with all the customers she has she works sometimes 6 a.m appointments all the way up to 8 p.m appointments um okay so she's already got spare customers she's trying to offload those to the new girl offload those to the new new therapist and you'll be fine okay i think you've got a couple options kinder i think your mom can raise her prices if the demand is there she can raise her prices if the demand's not there and when you when you say 6 a.m to 8 p.m do you mean back to back to back or you just mean that's how they space out like some days they're they're back-to-back-to-back. Some days it's, like, slow during, I guess, the work day, you know, the 8 to 5, you know.

Yeah. But typically she's just, she needs some more help, but she's not really sure how to, like to get into that as far as, I guess her hindrance is, I guess how to make sure that the other person is managed right, I guess. Gotcha. Yeah. I'll give you my three criteria for hiring.

This will just give you a good baseline, high level. This is your quick answer, I guess. Gotcha. Yeah. I'll give you my three criteria for hiring. This will just give you a good baseline, high level. This is your quick answer, Kendra. Your mom is ready to hire when, number one, she is maxed out, meaning she cannot work anymore and does not want anymore. Now, the good thing is when you're a solopreneur, you get to define your version of maxed out. Is that 30 hours, 40 hours, 50 hours? You decide what your maxed out is. So, number one, she needs to be maxed out.

Number two, she needs to have the money to pay this other person unless that person is going to bring their own clients and your mom's going to be paid a cut off of her, however you structure it, if she's going to be paid a cut from that person's business, needs to have the money to pay them. And number three, and this is really, really important, she needs to want to lead another person. 90% of women-owned businesses don't have team members, many not because they can't have them, but they just don't want them. They don't want to lead another person. They don't want the responsibility. They want to stay a solopreneur. If that's her, that's fine. She needs to find different ways to grow through raising her prices or other sources of income. So that would be some good criteria. Kendra,

I would love to send you my book, Business Boutique. We talk about hiring and growing and scaling and different ways to do that, to chase her version of success. So we'll go ahead and send that to you, and I think that would be a good starting point. It's the plan that she can follow to grow her business. Yeah, I would not go take on a new facility. I would at first fill up that one room and get it rocking, and then once you know that, A, you want to manage people, B, you know you can fill that other calendar up,

then we'll talk about going to the other facility and talking about, but you don't, you do not want to manage a whole bunch of people that are paying you rent for booths and all this stuff that's going to drive you bananas. That's not the purpose here and it's not what you should do. So a good question. Samantha is with us in Tucson, Arizona. Hi, Samantha. Your question for Christy Wright. Hi. So I'm not sure what all background you've got so far. So my husband currently works part time for the city. He's a bus driver, but his schedule is not stable and they refuse to work with other schedules. So neither of us can get a second part time job because we have two kids at home, and so we have babysitters, you know, and we can't afford to pay for child care. So I've been thinking about for a while now starting up like a little in-home boutique. I really love crafting, and I make most of my kids' clothes and stuff,

and so I figured I already love doing it. Why not try selling it? But I honestly have no idea where to start. Okay, before we start that, let's just establish that your husband's job sucks and he needs a new one. Yeah, he's really working. No, I'm not going to argue with you about this. His job sucks, he's underpaid, and they don't give him a schedule and they only work in part-time he doesn't have a real job he needs to get a new job now let's build you a craft

business now that we've covered that all right samantha um i'll tell you i'll start by just telling you i'm going to send you my book because literally my book was written for you it was written for someone that has an idea and isn't sure how to start now it helps you grow if you if you're already in business, but it is your step-by-step plan to grow your business. I'll tell you, having your idea is the first most important part. Now that you know that, I want you to think about the problem you solve, meaning what specific crafts or clothes or items are you creating and what problem do you solve? What need are you filling in the marketplace? And I know it's easy to get intimidated by the word problem to think,

oh, I don't solve a problem, but you do. Even if you're not doing something as obvious as a fitness coach helps people get into shape and get more strength, there are people that need hair bows and handbags and home goods and home decorations and you solve that problem. But here's why this is important

because you're gonna take your craft or your hobby and turn it into a business. You're going to identify the problem that business is going to solve for the marketplace. And what's going to happen, Samantha, is when you understand that, when you identify that, it gives you so many other important pieces of information about your business. Number one, it tells you your target market. Your target market are people that have that problem. It tells you your value proposition.

This is your basis for charging. This is how you can have confidence in charging for this thing because you're charging for solving that problem. It tells you your value proposition. This is your basis for charging. This is how you can have confidence in charging for this thing because you're charging for solving that problem. And number three, it even tells you your marketing language, the stuff you're gonna put on Facebook and your website and your brochures

and talk to people about at cocktail parties. You're gonna talk about how you solve that problem. So I just want you to boil it down to the most basic piece of information that you need to know about this craft business. And that is the problem that you solve. And we're going to build a whole business around you solving that problem for people and building that out. And then you follow the business boutique book, follow the plan chapter by chapter. There's even action items at the end, Samantha, where you fill in the answers. And by the end of the book, you have a plan for your business. So you take

that book and take that and get running with it. And I think that'll, that'll get you off to a great start. In addition with the fact that your husband's going to look for a better job. Yeah. The thing that is that what causes you to start kind of pokes you and makes you sit up straight and jump out of the nest. And what causes you to start is not,

it can be a bad thing that causes you to start a business. You know, I need more money. Right. But that's not a reason your customer's going to do business with you. Right, right. And so that's where you've got to twist this around and come back and learn how to present this through the customer's eyes.

What's the customer experience? And Christy's book will help you do that. The book is Business Boutique. Ramsey personality is Christy Wright. And the official Christy's book will help you do that. The book is Business Boutique. Ramsey personality is Christy Wright. And the official Christy Wright is Facebook. Christy B. Wright is Twitter and Instagram. Thanks for hanging out with us. Thanks for having me.

Glad to be here. This is The Dave Ramsey Show. Hey, it's Kelly Daniel, associate producer and phone screener for The Dave Ramsey Show. Did you know that in 2017, Dave Ramsey Show listeners paid off $50 million in debt? That's pretty impressive, and it could be you this year. Keep listening for more inspiration.