How to Build Extraordinary Wealth Buying Ordinary Businesses | The Next Big Idea Daily

The Next Big Idea

Next Big Idea Club

Self-improvement, Arts, Books, Society & Culture, Education

4.5 • 1.3K Ratings

🗓️ 13 January 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Forget flashy startups — the real path to wealth is buying the local car wash. Today, former Wall Street investor Codie Sanchez reveals how acquiring unsexy but profitable businesses can build more reliable wealth than chasing the next unicorn. 📕 Main Street Millionaire 🎙️ Follow The Next Big Idea Daily on Apple Podcasts, Spotify, or wherever you listen

Transcript

Click on a timestamp to play from that location

0:00.0	Happy Monday. I'm Michael Kovnet, host of the Next Big Idea's sister podcast, The Next Big Idea Daily.
0:06.6	Every weekday, we deliver quick masterclasses from the best nonfiction books written and read to you by the authors themselves.
0:13.5	You're about to hear the episode we published this morning. To get the rest of this week's episodes, follow the Next Big Idea Daily wherever you get your podcasts.
0:22.2	LinkedIn Presents.
0:27.4	Good morning. I'm your host, Michael Kovnet, and this is The Next Big Idea Daily, the show that
0:34.8	turns bite-sized wisdom from the latest nonfiction into fuel for your
0:39.0	next big idea. So how would you like to be your own boss, to build wealth, and break free from the
0:44.1	nine to five grind? Who wouldn't? Well, you're probably not going to get there by chasing bigger
0:49.2	paychecks or sticking to traditional investment advice. No, the secret, the real secret to financial freedom is owning a business,
0:57.6	or maybe multiple businesses, and that's a more achievable goal than you might think,
1:02.5	at least according to Cody Sanchez, author of the New York Times bestseller,
1:06.4	Main Street Millionaire, How to Make Extraordinary Wealth, Buying wealth buying ordinary businesses. Cody started her
1:12.9	career climbing the ranks at big-name finance firms like Vanguard and Goldman Sachs before she started
1:18.7	buying up small businesses like laundromats and car washes. Now she's the founder and CEO of
1:25.0	Contrarian Thinking, a financial media company with millions of followers, as well as the owner of Main Street Holding Company and Contrarian Thinking Capital.
1:34.1	She'll explain how you can take control of your financial future by buying a boring but profitable small business right after this quick break.
1:52.6	Hi, I'm Jonathan Fields.
1:58.5	Tune in to my podcast for conversations about the sweet spot between work, meaning, and joy.
2:03.9	And also listen to other people's questions about how to get the most out of that thing we call work.
2:06.7	Check out SPART wherever you enjoy podcasts.
2:13.3	Have you been feeling the effects of stress, burnout, or anxiety at work?
2:20.0	Listen to the Anxious Achiever podcast to rethink the relationship between your career and your mental health.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Next Big Idea Club, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Next Big Idea Club and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.