The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The ONE document I make ALL my companies use π The ONLY way to insure you are not going to run out of cash is to track it weekly. This is every private equity funds simple superpower: https://contrarianthinking.biz/46d4LeG
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Every entrepreneur dreams about the title of CEO, but the path to getting there is a mine-field of failure. Here’s the hard truth most people don’t want to hear, and even fewer will want to tell you: you will fail, repeatedly. Jeff Bezos has made multiple billion-dollar mistakes at Amazon. He’s lost more than most people will ever gain in a lifetime.
45% of businesses fail in the first two years. And in 10 years, 75% of all businesses fail. Why am I telling you this? Because if you can anticipate failure, you can be prepared for it, learn from it and be better at avoiding it in the future.
The most expensive mistake you’ll likely make is not what you do, but who you chose to do it with. A lot of entrepreneurs may at some point start a business with a friend. Friends are easy to work with because we already like them, but unfortunately, sometimes money makes people do crazy things like steal from you. It has happened to me, and it will probably happen to you. It sucks, but it’s not the end of the world and it will hone your senses to look out for the next time it could happen.
This video is full of all the common pitfalls you may encounter on your bumpy road to success. Have you encountered any of these problems while running your business? Are there any red flags you noticed along the way, and ones you didn’t anticipate? Comment below!
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Check out these other great videos! π½
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
Want to get the spreadsheet referenced in this video + 5 other ways you can buy a biz for $0? Download this guide I put together for you here π https://contrarianthinking.biz/buyforzero-yt
Signup for our Boring Business Brief where we share some of the best insights, tips, and stories from our private biz-buying community π° https://contrarianthinking.biz/bbb-yt
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Chapters:
00:00 – How do you buy a business for $0 in 1 week
00:56 – Finding What Biz to Buy
3:49 – How to Have The Conversation
8:18 – The Venmo Challenge
11:42 – The Personal P&L Review
16:44 – What to do on Day 1?
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Guatam Adani is the richest man in India, worth over $48 billion. Carlos Slim Helu, the magnate of Mexico is worth over $85 billion, and Bernard Arnault is richer than both of them combined. What do all three of them have in common? They bought businesses to build their empires.
Now I know what you’re thinking, “but Codie, I don’t have a lot of cash, how can I buy a business??” Today I’m going to break it down for you and show you how you can buy a business for $0 cash, in one week. Yes, really.
I’ve spent over 10 years working in finance and making money, and the skillset that changed my life more than anything else is “creative financing.” If you want to know what to buy, just look at where you spend. It’s the Venmo challenge: wherever you’re spending your money consistently with small businesses is usually where you should reach out to the owners of those businesses.
Who are they? What do they do? What do you spend per month? What’s their revenue, and finally, what’s your value-add? I’ll show you how to break it down in this video to determine the right business for you to buy.
Also we’re coming up on our 1 million subscriber milestone. We’ve come a long way since our first videos on our channel and couldn’t have done it without you. Please continue to spread the word and subscribe if you already haven’t. What video(s) helped you discover my channel? Comment below!
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Check out these other great videos! π½
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
If youβre struggling, consider therapy with our sponsor BetterHelp. Click https://betterhelp.com/CodieSanchez for a 10% discount on your first month of therapy with a licensed professional specific to your needs.
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Most people donβt take action. Youβre not most people. Start reading these 19 books (plus get frameworks and quotes) here β https://contrarianthinking.biz/19books-yt
BOOK LIST π
1. Mindset by Carol Dweck
2. Principles by Ray Dalio
3. Money: Master the Game by Tony Robbins
4. Side Hustle Bible by James Altucher
5. Economic Facts and Fallacies by Thomas Sowell
6. Rich Dad, Poor Dad by Robert Kiyosaki
7. Zero to One by Peter Thiel with Blake Masters
8. $100 Startup by Chris Guillebeau
9. 48 Laws of Power by Robert Greene
10. The $100M Offers by Alex Hormozi
11. Never Split the Difference by Chris Voss
12. The One Thing John Kay
13. Merger Masters by Kate Welling & Mario Gabelli
14. The long and short of it by John Kay
15. Mastering the VC Game: A Venture Capital Insider Reveals How to Get from Start-Up to IPO on Your Terms by Jeffrey Bussgang
16. Good to Great by Jim Collins
17. Only the Paranoid Survive by Andrew Grove
18. Your Money or Your Life by Vicki Robin & Joe Dominguez
19. Adventure Capitalist by Jim Rodgers
I’ve read over 200 books on making money. 75% of the books were either useless, or flat-out wrong. But a handful changed my life. Today I’m going over the top 19 along with the most important lessons I learned from each one, and how these lessons can change your life as well.
The goal is simple: I’m going to teach you how to make so much money that nobody can ever tell you what to do ever again. Here’s how:
We break it down into 4 steps:
1. Make it
2. Build it
3. Keep it
4. Enjoy it
I’ll tell you what each of those steps mean, and how you can get in the right mindset so you’re on the path to growth, rather than the path of stagnation. Positive change requires effort, and if you don’t believe change is even possible, then you’re starting off with the wrong frame of mind. The destination can’t be reached if you’re traveling in the wrong direction–or worse, you’re not traveling at all.
Have you read any books that have positively affected your life? What lessons did you learn? Comment below!
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Check out these other great videos! π½
The BE AN ADULT SECTION π€
All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.