The Ramsey Show - App - Think About What Problem You Can Solve for Your Customers (Hour 2)

Episode Date: April 21, 2020

Christy Wright, Retirement, Career, Debt, Insurance Tools to get you started:  Debt Calculator: http://bit.ly/2QIoSPV Insurance Coverage Checkup: http://bit.ly/2BrqEuo Complete Guide to Budgeting: http://bit.ly/2QEyonc Interview Guide: http://bit.ly/2BuGnZE Check out other podcasts in the Ramsey Network: http://bit.ly/2JgzaQR 

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, 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. Open phones at 888-825-5225. Joining me this hour, Christy Wright, Ramsey personality, author of the number one bestselling book, Business Boutique, a woman's guide for making money doing what she loves. It is one of the $10 books that are available, all our number one bestsellers and our bestsellers, and all of our books are on sale, $10 at DaveRamsey.com slash hope to help you guys while you're staying at home. We want to help you improve your minds so when you come out of this time, you come out

running, not stumbling, and we want to help you do that. For years, she's been helping women start businesses, and what she's found is that women want more than a business. They want love. More than a business, they love. They want love. We all want love. They do want love. We all want love.

I read that wrong. It's to live a life they love and what God's calling them to. So if you're out there and you're feeling overwhelmed, working from home questions, trying to balance all this weirdness this new normal maybe what you think is going to be the new normal next next month uh you're feeling stuck chrissy's here to answer your questions and certainly uh business and leadership questions as well but uh she's part of this team and this, and we'll be taking calls for that and for money as well. Open phones at 888-825-5225.

Jim is in Tennessee. Hey, Jim, welcome to the Dave Ramsey Show. Jim? Jim, are you there? Maybe I did something wrong. I'll put him back on hold, and we'll see if we can get him lined up in just a second. And so we'll go with Teresa in Arizona. Hi, Teresa.

Welcome to the Dave Ramsey Show. Hi, Dave. Hi, Christy. Hi. How can we help? Thanks for taking my call. Sure. My husband is 53, and he has a small pension from a previous employer that they are offering him a lump sum

payout we've heard you take calls on this and sometimes you say to check with an advisor and run the numbers but just the other day you had a call on this topic where you said always take the lump sum well i just i haven't found a case mathematically in years where taking the lump sum didn't make sense. It's just, in other words, generally if that happens, the pension fund screwed something up. And I just haven't found that in so long. Because your pension fund is going to pay around 6% or 7% rate of return on what it will grow if you leave it there. You can do better than that in good mutual funds, in a good IRA, and you can do the rollover to an IRA and there's no taxes. And when you die, you lose the money in a pension. When you die with the money in an IRA,

it stays with your estate, so you don't lose the money. So you make more alive and you make more dead 99.9 of the time so it's okay to run the numbers with a um you know with an advisor to understand it more thoroughly while you're doing it but the bottom line is there's a hundred percent loss at death in the pension so if it's if it's ten thousand dollars if it's a hundred thousand dollars it's just gone poof or it's $10,000, if it's $100,000, it's just gone. Poof. Or it's there in your IRA for your heirs. That right there makes the decision, even if you got paid less on the money. But you make more on the money while you're alive, and it survives. So there's just not a case where I haven't seen one in gosh i don't know when i mean it would be an unusual

pension that pays so much better than mutual funds have made that you would say i'm willing to lose the money at death because i made so much more you know it just it's hard to fathom that the math would work out that way uh but you know if your pension if you don't lose it at death for some reason but that's a very, again, 1% of the pensions out there might have something like that in them. Now, some of them have joint survivor where your spouse gets a reduced portion, but upon the death of both of you, it's just gone. It's poof. It's gone.

And that's your big issue. All right, let's go to Barb in Wisconsin. Hey, Barb, welcome to the Dave Ramsey Show. Hi, Dave. Thank you for taking my call. Sure. How can Christy and me help? Well, I hold a mortgage on a farm, and I'm about at the third-year mortgage at 66% interest,

and they are halfway through the mortgage. And I think I'm concerned as we're going through this COVID, And they are halfway through the mortgage. And I think I'm concerned as we're going through this COVID, and it's a dairy farm, and the issues that dairy farmers are having, that they've always paid, but they may not be able to pay. And I'm looking for strategy options of what I have, what I can work with them. How long have you had the mortgage with them? Well, it's about 15 years now. Okay.

So they've been pretty honorable people thus far? Oh, yes. Very much so. Okay. Are you in the same area area do you live in the same area no the farm is in new york state okay i live in wisconsin okay uh you know i always find it's just really good thing to just if you're wondering about something to ask i just jump on the phone with them and go i'm not calling to pester you i'm just worried about you you guys have been great for 15 years and i'm kind of worried that you might be struggling over there and i just want to

open up a open up a line of communication and just tell you you know i care about you and you guys have been wonderful uh people to pay for 15 years and and i just i everybody's hurting, and I just want to check on you and see what you're experiencing and just let them tell their story. And, you know, it may be that you want to, if they have a good story that leads to survival, you may want to restructure the deal and allow them to put a couple of payments, skip a couple of payments, put them on the back of the loan, extend the loan two months longer than it used to be, and you don't get your payment for two months if you can afford to do that.

And if that keeps them afloat, and otherwise they wouldn't have, but I wouldn't blindly do that until you may call them up and they go, you know, no, my grandmother died. We got a half a million dollars in the bank. We're okay. Well, I know they're not okay well i mean i'm in the dairy business and i know what's going on out there no i'm just saying they may have you don't know their situation in terms of their what has happened i know the

dairy business is bad i don't i wouldn't argue with that but but you know they may have other stuff going on that you don't know about that they're in perfectly good shape. But just call and talk to them. Okay. But it's not a collections call because they're not behind. Right, right. They're not. And they did come to me four years ago and wanted to refinance their mortgage with me through the bank. And, you know, it's like I told them, I said that was fine if that's what they wanted to do.

Then he changed his mind. Yeah, how much do they owe you? Well, $48,000. Yeah, that's a lot if that's the payoff today. Well, and, you know, maybe you end up taking the property back. It may end up they do it voluntarily. It may end up you have to do a foreclosure. It may end up you restructure and help them.

But just open a dialogue. I think that goes a long, long way. This is The Dave Ramsey Show. Everyone knows we're going through challenging times, and from what I hear, a lot of you have been calling Zander Insurance with questions about your existing life insurance or to see if plans are still available. For those who already have a policy, you've got nothing to worry about. There are no limitations related to the virus, so just keep paying your premiums. Most companies are even offering extended grace periods for those running into financial trouble. For those of you who haven't dealt with this, I'm not sure what you're waiting for. We're going to get through this, but this is a good motivation to get your family protected. Listen, rates are still low. Zander makes the process simple, and most of you have

the time right now to deal with this. Call 800-356-4282 or visit zander.com. Zander is set up to serve all their clients so their needs are addressed while continuing to protect its team and the community that's zander.com or 800-356-4282 Thanks for joining us, America. This is the Dave Ramsey Show. Chrissy Wright joins us this hour. Ramsey personality, number one best-selling author. Anna is with us. Anna is with us.

Anna is in Texas. Hi, Anna, how are you? Hi, Dave. Hi, Christy. It's such an honor to speak with you today. Sure. How can we help? Okay, I have a question for you, Christy.

So I'm a mom and a hairstylist and i just want you i want to ask you how high is the probability of me becoming maybe like a youtube star or an instagram star making my own youtube channel with hairstyling okay so first i want to ask you anna when you say star what do you mean by that why do you want to be a star? Not a star. Maybe making money out of, you know. You want it to be a business. Yeah, yeah. Okay, sure. So I think that's great. I think when you're looking at YouTube as the platform specifically, I'll speak to that since that's what you asked about.

You just need to think about exactly what problem you're solving for your customers. In the world of YouTube, what problem are you solving for your viewers? Like, why should they tune in? Because all day, every day, your customer, your viewer, their brain is wired for one question, which is what's in it for me? Why do I care? So your content on your YouTube channel

should speak to that. So what are you doing through your YouTube channel? Are you showing them how to do updos on your own without paying paying expensive prices are you showing them how to do a blowout in less than five minutes are you showing them how to cut their husband's hair when they're at home and their husband's growing an afro because they can't get their hair up do some blowouts james these are things i'm signing up for right here even as i was talking i was like dave has no idea what i'm talking about right now uh you know you've got an opportunity right now, Anna, just to do tutorials for wives that need to cut their husband's hair because their husband's growing an afro and he's still

trying to do Zoom calls. Matt Wright's hair is very thick and he won't let me cut it, Dave. I can tell this is a personal issue with you. He may be smart. It may not be one of your skills. It's valid. I've never done it before, but I would like to try. But you would try.

You would love to try on your skills. It's valid. I've never done it before, but I would like to try. But you would try. You would love to try. On your husband. That's right. So, Anna, you just need to think about what value are you offering through this YouTube channel. People want to tune in because it's going to help them in some way. And so thinking that through. And then just keep in mind, people making money on YouTube, this is a long game play. You're not just going to put up one video and you start getting checks in the mail.

So this is kind of like a blog where your eyeballs are what you charge for. There's several different ways to do it. Or you could have, it could be a marketing funnel to sell your classes or something else. If you're going to use that venue, you need to understand your customer base is young. They're not 60-year-old women, okay? So they're in their 20s with exceptions, but that's going to be your largest. Our youngest viewer between all the different ways we broadcast is our YouTube viewer, which we love, by the way.

We're excited about that. But I get more 22-year-olds there than I do anywhere else uh you know in terms of and here's the reason the number one search engine in the world is google when someone wants to search how to cut their husband's hair at home it's google the number two search engine is youtube unless you're 34 years old or under and then the number one search engine is YouTube. And so while a lot of people think of YouTube as cats chasing lasers or funny stuff or whatever, it is a huge how-to community because it's a search engine. And so how old are you, Anna?

I'm 28 okay when you get ready to search something is what i'm saying true when you if you said okay i need to know how to chop onions without crying would you google it or youtube it uh probably both yeah okay yeah and i i would probably just google it And then I would have to remember I'm 60 that, oh yeah, they do that on YouTube too. Or maybe I need a video that I'm going to end up from Google being handed off into YouTube, uh, that way. But that, that's what you need to think of is you're probably your customer. And so if it's funny to you and your husband, it's probably going to be funny to your viewer. If it's instructive to you and your husband or poignant or sad or makes you tear up or makes your throat get tight because it's a touching story for you and your husband, it probably is for your viewer.

The good news is if you are your own focus group in marketing, it makes life a lot easier because you know how the customer thinks because they're you. And so that's why Christy could, you know, immediately go to, you know, she's in the same age group, immediately go to, you know, cutting my own husband's afro. That's hilarious one other piece of encouragement i would give you anna is it's really tempting in the social media world where you have these immediate metrics of whether or not people like me if i'm popular to only look at what your idea of success is like oh i want 200 000 viewers 200 000 subscribers you don't you're never going to get there if you don't focus on the two and then the 20 and then the 200 so take care of your base take care of the followers you have today i love how the bible talks about this do not despise these small beginnings be faithful

with what you've been given right now so you will start small everyone starts somewhere and you will too but be faithful there and when you're faithful you will see it naturally grow don't just always be focused on on the big numbers be focused on who you've got right now. Don't hesitate to be entertaining and fun and funny. And give people a reason because if it's simply just executing the drill, it's not going to get a ton of views unless you're the only person that knows how to do that thing on the planet. And then it'll get a lot of views. And, of course, there's two places to make money on YouTube. One is if you have enough views, they send you a check because you're generating ad revenue

for them. And the second thing is if you have products or services or whatever that are inserted into the actual body of the YouTube video, then they go, oh, she has a book on this. Oh, she has a whole class on this or whatever. Then you can upsell, so to speak, out of the free YouTube view into something else, and that'll get you going there. Interesting question. Thanks for calling in. All right, Kelsey's in Ohio. Hi, Kelsey. Welcome to the Dave Ramsey Show. Hi, Dave. Thanks for taking my call.

Sure. What's up? So I was wondering, I started working for a college full-time back in December. So I'm kind of low in on the totem pole. And I was just wondering, I have a house that I've been kind of snowballing. And I was wondering if I should put that on pause right now. I know you said there are certain times when we should be worried about our jobs and shouldn't be. And I'm just worried if we don't go back into physical classrooms in the fall, I might not have a job come kind of August or September.

And I was kind of wondering what you would do in my situation. So you said you're, what's the deal with the house again? I'm debt-free besides my house. So I owe about $56,000 on it, but I've been snowballing it, so every time I get any overtime or I do a couple side hustles, every time I get money from there, I just put it on the house and even extra money that I don't feel that I really need to save or have in my emergency fund. How much do you have in your emergency fund? I have right at $16,800.

Okay. And what's your income a year? $35,000. Okay. All right. Well, the good news is were you to lose that job, replacing a $35,000 a year job is not as difficult as replacing a $135,000 a year job. So you don't have a lot of risk there. At this stage of the game, sitting where we're sitting today,

it's unfathomable that there will be no classrooms under some scenarios. There may be social distancing, but zero physical classrooms in the fall? I don't think so. I don't think we're going to have any this spring. But in the fall, yeah, I really don't think so. I don't think we're going to have any this spring. But in the fall, yeah, I really don't think. And to the point that the probability of that is so low, would I stop my financial plan when you already have six or seven months of savings? And with your income, no, I wouldn't. I would just keep doing what you're doing.

I think you've done a wonderful job, and I would just stick with it. You're worrying about something that has a low probability and is way off in the distance. Those are not things that change my actions. High probability or not way off in the distance are things that change my actions. And that's what I would look at. Good question. Thank you for joining us. We'll be right back. Folks, I love telling you about well-made, well-thought-out products. Today, I'm talking about Grip6 belts.

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Plus, I like the way these guys do business. Grip6 is determined to help build and modernize American manufacturing. To learn more and get this month's Dave Ramsey special, visit GRIPSIX.com. That's GRIPSIX.com. Thanks for joining us, America. Jim is with us in Tennessee. Hi, Jim. Welcome to the Dave Ramsey Show. Hey, how are you doing? Better than I deserve. How can we help?

I'm 29 years old. I have a lawn and landscaping business. Well, have a lawn and landscaping business, well, have had. I'm currently in the middle of a truck and my commercial mower being repossessed, and just trying to get some guidance. I've got about between $8,000 and $10,000 of other miscellaneous debt between medical bills and old collections accounts, things like that. Really don't want to go towards the bankruptcy side by any means, but the bank's law firm is very aggressive in trying to collect the remaining balance.

How far behind are you on your payments on your mower and your truck uh the mower i am about 1300 behind how many payments uh that's about six payments why are you six payments behind have you not been cutting grass i i did up until right at the end of last season, and then over here it slowed down for us at about, I would say, somewhere right before October. It really started slowing down, and then by the time that mowing season had started, the bank's law firm had threatened the press charges of hindering secured creditor and when as far as having a detective with the local police department call me and tell me he was going to arrest me for it so i showed up they had already gotten the truck at that point and i showed up with the mower and and the tow truck driver said, well, the serial number on the mower you have does not match the mower serial number that the bank has on file. And they called the place where I purchased the mower with the loan that I'd gotten from the bank, and the place I purchased the mower said this is the mower he has, the one you all have on file,

had actually been sold to somebody else and the bank had never updated their paperwork so i had to pay the tow truck driver to drop the mower off the tow truck and he said he couldn't take it but it's currently being stored at the place where i purchased the mower okay so stop a minute so why okay what were how were you planning you knew grass was not going to be cut in the winter. Right. So how were you planning to pay the mower payments knowing that? The last winter I had been working at a local woodworking shop,

and this winter by the time that an availability came up for me because as a convicted felon it's really hard just to make ends meet a lot of times for rent and things like that and fast food simply wasn't cutting it so by the time that the job at that woodworking shop became available it was roughly mid-january and like i say i was doing okay so what what you've had is um an income problem overall okay and uh you didn't have a plan to cover the income hole in the winter and it costs you the truck and the mower that's what it amounts to okay they will eventually come after you for the difference they'll sell the mower and the truck, and whatever debt it doesn't cover is called the deficit, and they eventually will come after

you for that, and you can settle that with them for probably 20 cents on the dollar. So if you end up owning them 10 grand, you probably settle it for a couple grand. You got some old medical bills, you're not bankrupt, you need income. And you need income if you had zero debt today.

Right. You have an income crisis, don't you? I absolutely do. One that causes a lot of anxiety. Yeah, sure. I'm trying to figure out, like I said, you know, about a decade ago, I did make some stupid decisions. And so I am a felon, you know, but that is my past. That's not who I am a felon, you know, but that is my past. That's not who I am today.

I agree. Getting employers to see that is, you know, can be very difficult because of the application at face value. Yeah, but I mean, there's plenty of people, if you tell the story, that will hire you to do a lot of things to get yourself up and going. So the first thing is get like five or six jobs that do anything to make money. Delivering pizzas, working for Amazon, delivering stuff. There's people hiring all over the place, tractor supplies hiring like crazy right now.

And I think in a lot of those cases, if you sit down with a manager and say, I'm going to fill out the application, but you need to know 10 years ago, there was a mistake on there. If you want to know the whole story, I'll tell you the whole story. But I'm clean now. There's no problems now. I can deliver a pizza, okay? I can cut grass for somebody. I mean, I can do this.

And I think you can tell your story and get past that, particularly with small business. Now, if you're trying to get a job with some big corporation, they're not allowed to look over that stuff and forget it. But, you know, we're a small business. We would not turn someone away solely because they had a 10-year-ago felony. Now, if they had other things that are a pattern in their life, we might turn them away. But I'd turn them away for a pattern in their life that was negative anyway when we were interviewing them. And so I think that's what you're looking at here.

But, no, you're not bankrupt. You need an income. And so what I'm going to do is I'm going to set you up with a whole, but no, you're not bankrupt. You need an income. And so what I'm going to do is I'm going to set you up with a whole bunch of stuff, Jim. We're going to put you in Financial Peace University to learn how to handle money. I'm going to send you a copy of Ken Coleman's book, The Proximity Principle, and you need to jump on Ken Coleman's website and look at all of his stuff on how to get jobs, because that's what you need. You desperately need an income. You have an income crisis. And Krista, we run into that

with a lot of small business people where they borrow to start their business and he borrowed for a truck and a mower and it comes back to bite them. Yeah. And I think it's difficult too, if you're in a business that's incredibly seasonal, because the fact that it's seasonal is not a surprise, you know, in landscaping and mowing lawns, you know that it's seasonal. But you have to plan for that, and you have to plan for it far in advance to carry you throughout the year, especially with your expenses, because it's not going to be different this year, just like you said. Yeah, and sometimes the way you plan for it is you create other things to do in those off-seasons. Right.

If you make wedding cakes, well, you're really busy in the summer. Right. But probably not as much in Decembercember so maybe you need to have christmas cakes i don't know i'm making this up totally but uh your mom i remember was in the bakery business and so uh you know that stuff has seasons it has uh uh you know holidays yeah driving it you've got valentine's in the donut shop i you know you get a valentine's donut or. You've got a Valentine's donut or you've got a St. Patrick's donut. I mean, they're staying with the holidays all the way through. And then there's certain times of the year, stuff like that. I know with our live events, typically our live events,

we don't have them in the summer. This year we're going to because a bunch of our spring ones got pushed and they're postponed into the summer. But typically we don't do them in the summer because people are on vacation and doing other stuff. So it's very seasonal. We don't do them in December because they're worried about Christmas. They're not worried about coming to a get-out-of-debt event. Right.

Or a business boutique event, which we do in November, October usually, right in there. This year, what is it this year? October. October. Okay. Yeah. And so, yeah, October, usually, right in there. This year, what is it this year? October. October, okay, yeah. And so, yeah, there, October 22, 24. So, but yeah, and we have to plan around that.

We have to go, that income is not going to be, if we do that, we do that event once a year. So you don't have that income in the business boutique product line when we're looking at how business boutiques health is doing as a business. We don't have any income for that Octoberober event to mount anything in may right um you know we'll have some but it's it's not much you know or in march you know but now come august september you know and when we launch it last october we saw a bunch right because a lot of the ladies come back but you know so we have very specific things in that business that are identifiable as a season. And you've got to adjust around that. And you're planning around it.

I know. I've got some members in the academy that do landscaping, yard working, and they transition to leaves in the fall. And after that, they transition to hanging Christmas lights for really high-end homes. And you can charge a lot to put up Christmas lights. Like, they start at, like, $1,500. And so that's their service for that, you know, six weeks, eight weeks. And they just adapt. Yeah.

And Jim, I had a guy put Christmas lights on my house and I did not ask about his criminal record. All I want is Kenny put up Christmas lights. That's right. You know, I didn't. And so, um, I encourage you, brother, you're going to get past your past, and your past is going to become a part of your story that is not all bad. You look back on it and you go, all right, here's what happened, and here's what I learned from that process.

And so you're going to be okay. You're going to be successful in spite of that. I know it feels like it's hanging around your neck at times, but I promise you, you keep pushing, brother. You keep hustling. You keep grinding. This is the Dave Ramsey Show. Business leaders make your life easier with FreshBooks.

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your employer's health insurance that's a scary thought especially right now when we're worried about health things um there are health care options that still cover you obviously first thing you encounter is cobra uh you can stay on your previous employer's health coverage at least 18 months the downside is you have to pay the full premium, which oftentimes is really expensive. If that's going to drain your emergency fund, you can look at the government's health care options or get private insurance with a high deductible. Private insurance with a high deductible is probably where I'm going to send you. That's what I personally would do, maybe checking out even an HSA during these times. If you want to know more, click DaveRamsey.com slash ELP for health insurance.

DaveRamsey.com slash ELP. Click health insurance, and they'll sit down, help you analyze your situation, and say, okay, your best deal is COBRA. Your best deal is the government. Your best deal is a high-deductible private, or your best deal is a high-deductible HSA private, somewhere in there. And, again, DaveRamsey.com slash ELP and click on health insurance. Roslyn is with us.

Roslyn is in Pennsylvania. Hi, Roslyn. Welcome to the Dave Ramsey Show. Hey, Dave. Thanks for taking my call, and thank you. We have $45,000 paid off in debt so far since March of 2017. Way to go. That's awesome. So we're moving forward. And Christy, my question is for you. For about 21 years, I have had a single chair beauty salon. And in 2019,

I completed the business boutique book and I laid out my 10-year business plan. In January of this year, I hired my first employee. I am debt-free in my business. And because I had an emergency fund set up, I've survived behind my closed doors so far. However, I am asking you, how do I refocus and not lose the momentum or the passion that I had in that 10-year plan because I sort of feel like I'm starting from scratch again yeah it feels that way because you are yes yeah yeah it's just you have to give yourself some grace you didn't cause this yeah

that's that's exactly what I was going to say I think a lot of times we have this idea we have a vision we have a goal, and then things change. Things change in our world. Obviously, this is something we haven't experienced before like this in business or life. But it could even be something on a smaller scale. Like, let's say you in your own personal life are going through a health scare or a family that really, you know, family member that really needs you. That's going to change your perspective and change your pacing on your goal.

But what we do so often, and I'm guilty of this too, Rosalyn, is this is something where we hold our feet to the fire. We say, well, I've got to still meet this goal and this timeline and these expectations. We're so hard on ourself. And I love what Dave said. He said exactly what I was going to say. Give yourself grace in this season that you did not plan for, would never have chosen. And instead, you can still have that passion for that goal. You can still work toward that goal.

The timeline might be a little different. You might have to get a little bit more creative, you know, specifically in this next six months. But it doesn't mean that the dream is completely denied. It doesn't mean that you're not going to hit the goal or the finish line. It's just going to look a little different on your journey there. And that's okay. Because honestly, 10 years, this is one of many things that's going to set you off course. There's one of many things that's going to change your perspective or change your timeline. That happens. That's life vision. I love the, the vision, how it pulls you, but it's not, it's supposed to be a guide. It's not supposed to be this legalistic thing that we, you know, feel in bondage to. It's just to, it's just to give you some vision for where you're going but just give yourself grace in this season and you're doing a really good job

you've got an emergency fund you're debt free you're growing like focus on all the awesome wins that you can be proud of because you're experiencing this whole thing very differently than a lot of people because of how you set yourself up for success. So how many, between the two of you, how many haircuts would you do in a month, in the month of April, if it had been a normal month? For me, a normal is between 10 and 15 people a day. I work four days a week so that I could work longer days and have a three-day weekend so that I have a day

that I can actually run my business instead of working it. That's good. My employee is very, very new, but she has grand potential. She is an excellent employee. I was blessed with her. So how many would she normally do in April? This April, she's brand new. She has done half of yours?

I would say not even as much because she was um having a baby so she actually is going to be off for six weeks now oh wow which timing wise was perfect a beautiful thing for her perfect and it lets me recover before she comes back exactly exactly so here's why i ask okay um it's not like in May you're going to do all of April and May, but you're going to do more than a typical month because you have a tremendous backlog, and you're going to be working your butt off when you go back. I'm using the example of if you open in May.

I don't know when Pennsylvania is going to open, but the example of if you open in May. I don't know when Pennsylvania is going to open, but I'm saying if you opened in May, all those people, I mean, I'm looking, I'm bald, but everybody else around here that I see, shaggy. They need you. You are an essential employee as far as I'm concerned. So some of these people really need you. And so we've been making fun of Ken coleman to no end with his uh evangelist haircut he just let it grow and he slicked it back like he's jimmy swagger or something but

anyway the uh um you know but i mean i think that you know i we were i was talking to one of our live events guys about this today and we were talking about the live event did not get canceled it got moved and he said well our sales are off 80 this month and i went yeah because they all moved to next month you know and so that that's what you're not going to get all of april's income in may but you're going to get may's income and a lot of april's that makes sense true so you really didn't lose it i want to lose the excitement you didn't my point is is you're not going to be excited. You're going to be exhausted.

That's true. Because you've pushed a bunch of April's work into May, and you're going to have May's work. You'll lose a few people who aren't going to come around this kind of thing for a while yet on social distancing and that kind of stuff. But there is a whole bunch of folk that are going to be ready and need your services and so uh and again i don't know if may's the timing it might be june but the point is is that by the time you get to the end of the year you probably will have done as much business as

as you would have if april hadn't shut down it may be very very close a lot of businesses are creating this pent-up demand, Christy. There's a backlog. They are, and we're getting really creative even in the meantime. And I know I keep throwing out this idea, but I was talking to an Academy member that has a salon. I said, what would it look like to email your email list and say, hey, I'm willing to coach you through a husband haircut? Oh, my Lord. Like, hold your fingers like this.

Hey, hey, try it. me tell me rosalyn tell me if it works because i'm telling you there are men that are going my wife can't cut my hair she don't know how but if someone coached her on skype you set up the phone i'm telling you that's gonna be an income stream that could just hold you over in the meantime wow get creative take it online you are desperate to cut my hair no we've got this has been an ongoing subject ice skating lessons that are going online we've got horseback riding that's going on we're just getting creative we're getting scrappy i don't get it okay i get the haircut i don't get the horseback riding oh my gosh well that that's the thing you're right it's creative and scrappy and you just try something

and the weird thing is some of you in the process of doing that are going to end up discovering a better way permanently right of doing your business and some of you in the process of doing that are going to end up discovering a better way permanently of doing your business. And some of you are going, I hope I never have to do that again. If I never do another Zoom call, it won't make me mad. I hope I never have to do that again. But some people have discovered Zoom is a wonderful thing, and they're going to make the best of it. And it's suddenly a new way of doing business for them for the rest of their lives. Right.

So it depends on how you've experienced some of these areas we got stretched in. Yeah. But the learnings from it will change not only how we are consumers, but how we do business from this point forward. It is, and it's a different gear you go into. When you go into that creative gear, maybe because you're forced into it in this environment, once you open that up, it just breeds more creativity and

more creativity that it becomes this snowball effect that you wouldn't have experienced otherwise. So it's opening up a ton of opportunities that we will keep because you simply got in that creative gear because you had to. Good stuff. Christy Wright, thanks for hanging out this hour. Thanks for having me. That puts us out of the Dave Ramsey Show in the books.

Our thanks to James Childs, our producer, Zach Bennett, our associate producer and phone screener. I am Dave Ramsey, your host, and we will be back. In the middle of these uncertain times, Ramsey Solutions wants to give you some hope. For the very first time ever, we're giving you Financial Peace University free for 14 days. Go to DaveRamsey.com slash hope so you can watch from home. Folks, since you're spending more time at home these days, why not make the most of it? Now, I know not everyone has the means to do a full renovation, but thanks to our friends at

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