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

⏱️ 67 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 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. Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new Entrepreneurship, entrepreneurship podcast, Business, Business podcast, Self Improvement, Self-Improvement, Personal development, Starting a business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side hustle, Startup, mental health, Career, Leadership, Mindset, Health, Growth mindset.

Transcript

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0:00.0	From a venture capitalist perspective, two out of ten of every their portfolio companies make it big, the other eight largely lost.
0:20.1	If that game has 80% potential failure rate,
0:23.3	where is there an 80% potential win rate? They're in something called boring everyday businesses.
0:28.5	When you buy a business that's already profitable and you know that that business has done
0:32.9	X for the past three or 20 years, the likelihood of it to continue to do X for the next three or 20 years
0:39.1	is pretty high. I bought my first laundromat for 100K. It made me 67K a year, then ended up buying
0:48.1	two more laundromats, rolling those up, and we sold that for close to a million bucks. You can
0:52.2	buy a laundromat typically for less than
0:54.5	$100,000. They're what I call the gateway drug, good business to start with and learn with for a
0:59.6	person who's just like, I want to do this for the first time ever without a big, huge business.
1:08.3	What is up Young and profitors?
1:11.6	You're listening to Yap, Young and Profiting podcast
1:14.5	where we interview the brightest minds in the world
1:16.7	and unpack their wisdom into actionable advice
1:19.6	that you can use in your daily life.
1:22.2	I'm your host, Halitaha.
1:23.8	Thanks for tuning in and get ready to listen, learn, and profit.
1:40.0	Welcome to Young and Profiting podcast, Cody.
1:42.8	I'm excited to be joined today by Cody Sanchez. If you don't know Cody, she's a self-made investor and investment expert who took the insights she gained from working in high finance to build her own portfolio of what she calls boring businesses, laundromats, car washes, trailer parks, and other unglamorous but potentially high margins
2:02.4	small to medium-sized businesses. And now she's out to help others do the same and she's quickly
2:07.1	becoming one of the biggest female business influencers in the world. Cody is the co-founder of
2:12.3	unconventional acquisitions, a company that helps people learn how to buy small businesses.
	...

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