Think Like A CFO Podcast

The Million Dollar Failure

April 26, 2021 Melissa Houston / Cody Loughlin Episode 32
Think Like A CFO Podcast
The Million Dollar Failure
Chapters
Think Like A CFO Podcast
The Million Dollar Failure
Apr 26, 2021 Episode 32
Melissa Houston / Cody Loughlin

“It really wasn’t the industry, it was the owner that made the difference… I patterned myself on the successful people that I saw.”

—  Cody Loughlin

It’s a fact: schools fail to give students the tools they need to understand their finances.

But Cody Loughlin is on a mission to change young people’s financial trajectory through education. His Money Talkers podcast helps parents learn how to talk to their kids about money — and better understand money themselves.

The knowledge he’s teaching has been hard earned.

Cody is a serial entrepreneur who has started 14 businesses. He’s gone from the incredible high of being a millionaire with 30 employees at the age of 27... to the lows of losing it all over the course of six months and being over $500k in debt at the age of 28.

It was a bitter pill to swallow, but a necessary lesson.

Cody knew that he was bad at running a business and needed a better understanding of how to deal with business finances... so he took what he saw as the logical next step. 

He became a banker.

He began learning from other businesses in that role, working with as many as he possibly could in order to figure out what they were doing right. And he used that knowledge to go on to build successful businesses of his own.

“Businesses don’t have problems — people do,” Cody says. “We need to remember that, because it can ruin you.”

 In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌

  • Cody’s million-dollar failure story — and the biggest lessons he learned from it 
  • The business-owner game-changer that Cody learned while working as a banker
  • Cody’s #1 tip for entrepreneurs in the 5-figure to low-7-figure realm 

About Cody Loughlin

Cody Loughlin is a serial entrepreneur who started to learn finance at the age of 19. He was a millionaire by age 27 and bankrupt at the age of 28. He took an early retirement at age 39 to pursue his passion of teaching financial literacy, successful mindset, and entrepreneurship that the schools refuse to teach. After spending 20 years in finance and opening 14 businesses, Cody discovered the secrets to being financially free. He is the host of the Money Talkers podcast.

Highlights:‌ ‌

  • 01:40  Meet Cody Loughlin & the Money Talkers
  • 04:30  Cody’s businesses
  • 05:38  The leap of faith & lessons
  • 06:53  Cody’s $1 million failure 
  • 12:13  Career shift
  • 13:17  The game-changer
  • 15:34  Build to weather the storm
  • 18:07  Never done learning
  • 19:30  F.I.R.E.
  • 21:05  The numbers behind the ideas
  • 22:08  Stay on top of your PnLs
  • 24:44  Don’t waste time on the wrong things
  • 26:23  Cody’s #1 tip

 ‌Links:‌ ‌

Cody Loughlin

Instagram: @codyloughlin

Twitter: @LoughlinCody

The Money Talkers podcast

https://themoneytalkers.com/optin33124205 

The 5-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me 

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.

Show Notes

“It really wasn’t the industry, it was the owner that made the difference… I patterned myself on the successful people that I saw.”

—  Cody Loughlin

It’s a fact: schools fail to give students the tools they need to understand their finances.

But Cody Loughlin is on a mission to change young people’s financial trajectory through education. His Money Talkers podcast helps parents learn how to talk to their kids about money — and better understand money themselves.

The knowledge he’s teaching has been hard earned.

Cody is a serial entrepreneur who has started 14 businesses. He’s gone from the incredible high of being a millionaire with 30 employees at the age of 27... to the lows of losing it all over the course of six months and being over $500k in debt at the age of 28.

It was a bitter pill to swallow, but a necessary lesson.

Cody knew that he was bad at running a business and needed a better understanding of how to deal with business finances... so he took what he saw as the logical next step. 

He became a banker.

He began learning from other businesses in that role, working with as many as he possibly could in order to figure out what they were doing right. And he used that knowledge to go on to build successful businesses of his own.

“Businesses don’t have problems — people do,” Cody says. “We need to remember that, because it can ruin you.”

 In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌

  • Cody’s million-dollar failure story — and the biggest lessons he learned from it 
  • The business-owner game-changer that Cody learned while working as a banker
  • Cody’s #1 tip for entrepreneurs in the 5-figure to low-7-figure realm 

About Cody Loughlin

Cody Loughlin is a serial entrepreneur who started to learn finance at the age of 19. He was a millionaire by age 27 and bankrupt at the age of 28. He took an early retirement at age 39 to pursue his passion of teaching financial literacy, successful mindset, and entrepreneurship that the schools refuse to teach. After spending 20 years in finance and opening 14 businesses, Cody discovered the secrets to being financially free. He is the host of the Money Talkers podcast.

Highlights:‌ ‌

  • 01:40  Meet Cody Loughlin & the Money Talkers
  • 04:30  Cody’s businesses
  • 05:38  The leap of faith & lessons
  • 06:53  Cody’s $1 million failure 
  • 12:13  Career shift
  • 13:17  The game-changer
  • 15:34  Build to weather the storm
  • 18:07  Never done learning
  • 19:30  F.I.R.E.
  • 21:05  The numbers behind the ideas
  • 22:08  Stay on top of your PnLs
  • 24:44  Don’t waste time on the wrong things
  • 26:23  Cody’s #1 tip

 ‌Links:‌ ‌

Cody Loughlin

Instagram: @codyloughlin

Twitter: @LoughlinCody

The Money Talkers podcast

https://themoneytalkers.com/optin33124205 

The 5-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/5-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me 

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.