This week’s book of the week is EntreLeadership by Dave Ramsey. I’m always excited about all the books I read weekly, but this one in particular I extremely excited about because I know it’s going to be a great book. I’ve taken the Dave Ramsey course at church. I’ve read a couple of his books and know a lot of his teaching styles. Although learning from Dave Ramsey and putting it into practicality can be not necessarily one in the same. It’s a big mind shift to go from our world that relies so heavily on credit and credit scores. Most people these days would never dream of buying a car or a house with cash. It almost seems, well impossible. And with student loans soaring through the roof and causing extra burden on folks, it’s no wonder we don’t look for other ways to get the house and the car now. It’s something college has taught most of us. Borrow for the big things, and think about paying it tomorrow.
To be honest, it’s been hard to keep this type of thinking front and center. Mostly because we are so inundated through commercials, etc to think of credit as a coveted privilege. Like parents giving us money. The only difference is we get hit heavy later. I’ve all to well found myself in this trap over and over again. We tend to forget that credit card companies and banks are actually businesses that make their money off of the money they lend us. And many times when you look at the whole their dividends off that money is many times twice, three times, or quadruple what we borrow. Sometimes even more. I took a 60,000 loan off a house once. At the end of that loan I would be paying 300,000. That’s why borrowing makes us broke.
In addition to having a great understanding of money, Dave Ramsey has run a business out of Brentwood, TN that has helped countless Americans with seeing money in the form of growth and not debt. I would drive by his offices and where his radio show was held often when I lived in the Nashville area. He became one of the famous faces that lived there along with other country music stars like Keith Urban and Vince Gill. I guess I took for granted that I was so close to all that wisdom. In those years I was reading a lot of the “Rich Dad, Poor Dad” books. They are an easy read and like candy for the entrepreneurial minded. In those books Robert Kiyosaki also talks about how money is a lever and to never borrow money when you needed only when you don’t. As I grow older I am starting to see the validity of Dave’s views. Money can also be a crutch. Sometimes when we don’t have it we are able to get more out of what seems like thin air.
I go to Life.Church in Broken Arrow. Craig Groeshel’s church developed the YouVersion Bible App that reached 300 million downloads by the end of 2017. The church has 34 locations throughout the U.S. But here’s the kicker. Life.Church is completely debt free. Life Church is 23 years old. They’re able to grow so fast because they are debt free. I’m thinking the lever should be your business and not your debt.
In the first chapter of Dave Ramsey’s EntreLeadership, Dave talks about how he first decided who he want on his team. “So growing leaders was too refined and calm for me, but growing entrepreneurs was too wild and chaotic for me. So I decided we needed to grow a combination of the two… and thus the EntreLeader was born. I want EntreLeaders who can be…
- Passionately serving
- Mavericks who have integrity
- Disciplined risk takers
- Courageous while humble
- Motivated visionaries
- Driven while loyal
- Influential learners”¹
Along with this vision for his team, another unique think Dave Ramsey did was to help shape his team through a weekly meeting he held. “I started teaching a class on our operational and cultural playbook. I taught the class from five to six every Tuesday night. Since we close at five thirty, team members who wanted to learn how we run and grow our business could learn thirty minutes on my time and thirty minutes on their own time. At first ten or twenty people came… …Before we knew it, there were close to a hundred people coming – and most of them didn’t even work for us.”²
Here’s what is interesting to me. By going “halfsies” on the time, it created a mind frame of “we” on the ownership of learning, instead of an obligation. It reinforced the team mentality instead of the employee mentality.
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Sarah Elizabeth Jackson
Vigilant Poster Girl
Every week I talk about a book that we’re reading on leadership and self-development. You can follow along by going to the Book of the Week page at the top. And order a book (either kindle, audible, or paperback) by clicking on the photo of that book. When you do that, it also helps fund this site.