543: How She Made $50M Buying Boring Businesses | Codie Sanchez [VIDEO]

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 20 December 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Codie Sanchez, founder of Contrarian Thinking, reveals how she built a media company that inspires millions to think differently about wealth. Codie shares her journey from journalist to investment executive and now entrepreneur, owning over 25 cash-flowing businesses. She dives into the strategies behind her acquisitions, the importance of owning "boring businesses," and how she turned Contrarian Thinking into a thriving community. Entrepreneurs will learn actionable insights about identifying opportunities, scaling unconventional business ideas, and creating wealth through innovative approaches. Listen to Nathan and Codie discuss: - Codie’s transition from corporate finance to entrepreneurship - The strategy of buying "boring businesses" and turning them into cash cows - How Contrarian Thinking became a platform for alternative financial education - Tips on identifying undervalued businesses and scaling them for profitability - The role of mindset and resilience in building financial freedom And much more business advice… Click here to start your business for $1. You’ll get all-access foundr+, where you’ll find more in-depth, proven strategies from founders like our guest today and support and advice from our global community of 30,000 founders. If you loved this conversation and learned something new, rate and review this episode. Stay in touch with us, follow foundr on your favorite platform: Foundr.com Instagram YouTube Facebook X LinkedIn Magazine

Transcript

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0:00.0	Being an owner sucks, not being an owner is worse. We are very quickly losing our ownership.
0:05.7	It's a quiet war between the few who own everything and the many who don't even realize it.
0:11.7	Startups have a 90% failure rate over any 10-year rolling period. Small businesses you buy have a
0:17.4	25% failure rate at the height and a 5% failure rate at the low. And so that just
0:23.3	made me realize, huh, I'm just going to go where the odds are better. I don't have to buy the
0:27.8	shitty house and fix it up. I don't have to buy the nicest house. I kind of want average. There
0:32.4	are businesses that were two weeks out of cash and $25 million in assets and millions and dollars liabilities, and we
0:39.0	had four weeks to turn them around. And that was miserable. We've got to push back on feeling like
0:43.9	we have to get bigger and bigger and bigger and that the few of us have to own it all. Why can't we
0:49.0	be happy with like our little corner coffee shop?
0:55.2	Hear the stories.
0:57.2	Learn the proven methods and accelerate your growth and future through entrepreneurship.
1:03.1	Welcome to the founder podcast with Nathan Chan.
1:08.8	You build this incredible community and movement with contrarian thinking and really this idea
1:16.0	that you don't have to start a business. You can buy a business, in particular, a boring
1:24.2	traditional business, usually from a baby boomer.
1:28.5	And you can achieve financial freedom and all the other things that, you know,
1:32.5	we talk to a lot of successful founders, usually that have created a brand from scratch
1:37.8	or create a product from scratch.
1:40.5	So first things first, welcome to the show.
1:43.4	Super excited to speak with you.
1:45.4	But how did you get started in this space?
	...

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