Growing up in a tough neighborhood and making it to college as the first in his family, Rodrick DeBose beat the odds. He received his bachelor's degree and with only $2,600 of debt - but decided he didn't want to work a nine-to-five. He wanted to work for himself and own his own business. So he worked his way up from valet to owning his own parking and shuttle business to now owning rental property and a personal training business and a financial consulting business - helping others stay out of bad debt (use good debt) and start businesses. Hear Rod's story and how he uses Instagram for business ideas and key connections - and how he retired undefeated in his short professional boxing career.
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Full episode on Youtube: https://youtu.be/8dIhV_qJdUs
Opening: Rodrick is father of 3 girls. Allen & Rod met years ago. Rod owns several businesses and was a professional boxer for a short time - retired undefeated.
2:20 Discussion on good debt and bad debt. Rodrick talks about the difference and gives examples from his own life of business and asset ownership. He now coaches others.
6:30 Rod talks about the ‘bad debt system’ and helping people stay out of it - easy to get into, very hard to get out. Rod graduated college with only $2,600 in debt.
8:05 Rod talks about the difference between a business with few employees and businesses with many employees - and how he parlayed the profits of his parking and shuttle businesses into launching new businesses.
12:00 Discussion on starting a personal training business, the uncertainty of income and the required dedication.
13:55 Rod talks about growing up in Fort Myers, FL. He didn’t know how rough his neighborhood was until he went back to visit from college. Rod decided he didn’t want to be a statistic.
18:15 His best business role model growing up was his father who owned a small business.
20:12 Rod was the first to go to college in his family, he had to figure out for himself (no one told him or helped him) how to test, apply, and make it. Now he helps others like him figure out the process and not miss the window of opportunity.
21:52 Rod traveled a lot while in college to see the country, didn’t want to regret or have ’could have’s’ or ’should have’s’. Actually came back home for a semester and that was scary because often we don’t go back. He went back.
24:30 Rod graduated with a degree in Criminology from University of South Florida, but knew he wanted to be his own boss, didn’t want to get a job. He already had the entrepreneurial mindset.
28:10 He worked at a valet to help make his life expenses - almost quit the first day! Instead, he grew it and it became his first start up. Allen shares how many entrepreneurial friends he has that started in valet.
30:00 From valet Rod learned to be outgoing and dug deep to find the strength to expand his personality and his customer service disposition.
34:15 Influential people attend the Bucs games and Rod valeted for them. He was invited out to a game by a very successful businessman.
36:00 This person became Rod's friend and mentor. Follow up meetings included building a plan to start his business. He taught Rod how the successful use 'other people’s money’. Rod has used this technique with his recent home renovations and rental property setup.
40:42 He bought into a franchise of Super Shuttle and this was quite successful from a revenue generation perspective - gave him a breakthrough financially.
43:00 He exited this to pursue a business closer to his passion - he became a physical trainer and financial consultant helping others.
45:00 Rod decided to help others with the skills to improve their personal credit. Personal credit and business credit are extremely different and knowing the power behind each can improve your financial situation.
47:30 Most people who know wealth know the separation of personal and business assets and credit, most average people and even those with high salary incomes do not know how this works. Reference to the book Rich Dad, Poor Dad by Robert Kiyosaki.
49:35 Rod gets a lot of business ideas and connections through Instagram - Instagram is powerful, found his number one business mentor there - has found business partners and of course customers on Instagram.
56:00 Allen & Rod wrap up by talking about Rod’s boxing career, the physical, the fun, the technicalities, and the business side of the sweet science.
Rodrick DeBose Instagram: @rod_d1fitneess
Full episode on Youtube: https://youtu.be/8dIhV_qJdUs