Codie Sanchez: 7 Boring Businesses You Can Buy Right Now To Replace Your Income | E231

Young and Profiting with Hala Taha (Entrepreneurship, Sales, Marketing)

YAP Media Network

Education, Marketing, Entrepreneurship, Business, Self-improvement

4.8 • 1.3K Ratings

🗓️ 3 July 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

After climbing the ranks of the high finance ladder, Codie Sanchez felt lost. She was no longer in charge of her day-to-day life, despite her years of schooling and hard work. She decided to take the insights she gained to build her own portfolio of what she calls “boring businesses.” Now, she's out to help others do the same and is quickly becoming one of the biggest female business influencers in the world. In this episode, Codie reveals what she looks for when buying a boring business, what kinds of businesses you can buy tomorrow with no money down, and how to think like a contrarian investor. Codie Sanchez is the co-founder of Unconventional Acquisitions, a company that helps people learn how to buy small businesses. She also founded Contrarian Thinking, a popular newsletter that discusses investment strategies and trends. In this episode, Hala and Codie will discuss: - Codie’s background as an award-winning journalist - How to think like a contrarian investor - Earning horizontal income - Creating multiple revenue streams - Why you should invest in “boring” businesses - The 80/20 rule - Why you should take more mirror selfies - And other topics… Codie Sanchez is the founder and CEO of Contrarian Thinking, with over 2.5+ million subscribers. She is the co-founder of Unconventional Acquisitions, focused on small business acquisitions in the micro-PE space with an emphasis on roll-ups. She runs a holding company of SMBs below $10M EBITDA focused upon what she calls “boring businesses,” or service-based businesses. She is a former partner at private equity firm EEC, and built First Trust’s $1 billion+ AUM Latin America business. She held leadership positions at Goldman Sachs, State Street, and Vanguard. She started as a journalist where she won the JFK award and Howard Buffett Foundation. She was listed as one of the 25 Most Innovative Leaders in Cannabis, and a Top Female Investor by Forbes. She has an M.B.A. from Georgetown University, a master’s from ESADE and Fundação Getúlio Vargas, and a B.A. from Arizona State University. She sits on the board of Permian Investment, and Magma Partners Chilean Venture Fund. Resources Mentioned: Codie’s Website: https://www.codiesanchez.com/#intro Codie’s LinkedIn: https://www.linkedin.com/in/codiesanchez/ Codie’s Twitter: https://twitter.com/codie_sanchez Codie’s Instagram: https://www.instagram.com/codiesanchez/ Codie’s Facebook: https://www.facebook.com/codiesanchezbiz/ Codie’s Tiktok: https://www.tiktok.com/@realcodiesanchez?lang=en Codie’s Youtube: https://www.youtube.com/channel/UC5fI3kxC-ewZ6ZXEYgznM7g Contrarian Thinking: https://contrarianthinking.co/ Unconventional Acquisitions: https://unconventionalacquisitions.com/ LinkedIn Secrets Masterclass, Have Job Security For Life: Use code ‘podcast’ for 30% off at yapmedia.io/course. Sponsored By: The Kelly Roach Show - Listen to The Kelly Roach show on Apple, Spotify or wherever you listen to podcasts. More About Young and Profiting Download Transcripts - youngandprofiting.com/episodes-new/ Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode of YAP is sponsored in part by Shopify.
0:03.6	Shopify simplifies selling online and in-person
0:06.3	so you can focus on successfully growing your business.
0:09.0	Sign up for a $1 per month trial period at Shopify.com-profiting.
0:13.9	From a venture capitalist perspective, two out of ten of every their portfolio companies
0:31.0	make it big, the other eight largely lost.
0:34.1	If that game has 80% potential failure rate, where is there an 80% potential win rate?
0:40.1	There is something called boring everyday businesses.
0:42.6	When you buy a business that's already profitable and you know that that business has done
0:46.9	X for the past three or twenty years, the likelihood of it to continue to do X for the next
0:52.2	three or twenty years is pretty high.
0:56.6	I bought my first laundromat for 100K, it made me 67K a year, then ended up buying two more
1:02.4	laundromats, rolling those up and we sold that for close to a million bucks.
1:05.9	You can buy a laundromat typically for less than $100,000.
1:09.7	Or what I call the gateway drug, good business to start with and learn with for a person
1:13.8	who's just like, I want to do this for the first time ever without a big, huge business.
1:22.7	What is up, young and profitors?
1:25.8	You're listening to YAP, Young and Profiting podcast where we interview the brightest minds
1:30.1	in the world and unpack their wisdom into actionable advice that you can use in your daily
1:35.1	life.
1:36.1	I'm your host, Hallitaha.
1:38.0	Thanks for tuning in and get ready to listen, learn and profit.
	...

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