Building Wealth Through Boring Businesses and Other Contrarian Ways To Live and Invest with Codie Sanchez

#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.
Link to Full Show Notes: https://allthehacks.com/boring-businesses-codie-sanchez

Partner Deals
Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth
Rocket Money: Easily cancel your unused subscriptions
Inside Tracker: 20% off personalized wellness & nutrition plans backed by science
Athletic Greens AG1: Free 1 year supply of Vitamin D and 5 free travel packs
MasterClass: Learn from the world's best with 15% off
For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals

Resources Mentioned
Codie Sanchez: Website | Newsletter | Twitter | Instagram | YouTube

10 Step Deal Journey

Marriage Check-in: T.E.A.M.

Life Hacks: 1 in 60 Rule | Doing Less | 12 Simple Habits

ATH #91: Die With Zero: Net Fulfillment Over Net Worth
Why Japan is Giving Away Profitable Businesses for Free
Biz Scout
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 All the Hacks
All the Hacks: Newsletter | Website | Membership | Email
Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

#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.

Link to Full Show Notes: https://allthehacks.com/boring-businesses-codie-sanchez

Partner Deals

Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth

Rocket Money: Easily cancel your unused subscriptions

Inside Tracker: 20% off personalized wellness & nutrition plans backed by science

Athletic Greens AG1: Free 1 year supply of Vitamin D and 5 free travel packs

MasterClass: Learn from the world's best with 15% off

For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals

Resources Mentioned

Codie Sanchez: Website | Newsletter | Twitter | Instagram | YouTube

Life Hacks: 1 in 60 Rule | Doing Less | 12 Simple Habits

ATH #91: Die With Zero: Net Fulfillment Over Net Worth

Why Japan is Giving Away Profitable Businesses for Free

Biz Scout

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 All the Hacks

All the Hacks: Newsletter | Website | Membership | Email

Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.