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#119: Entrepreneur and investor, Codie Sanchez joins to discuss unconventional ways to create wealth through often-overlooked “boring” businesses like laundromats, car washes and vending machines. She also shares her expertise in the art of deal-making, financing options for buying a business, diversifying investments, and applying contrarian thought into our daily routines and relationships.
Codie Sanchez (@CodieSanchez) is the founder and CEO of Contrarian Thinking, a media company and newsletter dedicated to challenging traditional investing norms and empowering individuals to think differently about wealth creation. She is currently on a mission to create 100,000 business owners, and 1,000,000 financially free humans.
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Resources Mentioned
Codie Sanchez: Website | Newsletter | Twitter | Instagram | YouTube
ATH #91: Die With Zero: Net Fulfillment Over Net Worth
Why Japan is Giving Away Profitable Businesses for Free
Outlive: The Science and Art of Longevity
Bill Perkins's Book: Die With Zero: Getting All You Can from Your Money and Your Life
Virtual Executive Assistants From Oceans XYZ
Full Show Notes
(02:31) Challenging The Status Quo With Contrarian Thinking
(05:50) Codie's Inception of Investing in “Boring” Businesses
(08:50) Is Buying Small Businesses For Everyone?
(10:59) Buying A Business As A Full-Time Gig vs. A Side Hustle
(14:46) The Reason Why Buying Boring Businesses Isn’t Popular
(16:52) Do You Need To Be An Expert To Buy A Business?
(17:41) The Importance Of Deal Making
(21:48) Why Deals Go Wrong
(23:57) An Example Of A Bad Deal
(26:08) The Success Rate of Buying Small Businesses
(31:50) Seller Financing
(32:47) Finding Small Business Opportunities
(35:33) Why Terms Are More Important Than Price
(36:22) Playing The Right Games
(43:37) Diversifying Investments
(44:29) Points & Miles: A Side Benefit to Owning Businesses
(50:08) Where & How To Invest Your Time
(55:13) Aiming For Bigger
(59:58) External Financing
(1:03:01) Outsourcing Virtual Assistants
(1:09:45) The TEAM Rule for Relationships
Connect with Chris
Newsletter | Membership | Twitter | Instagram | LinkedIn
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