SPECIAL REPLAY: Codie Sanchez—How to Get Rich Buying Boring Businesses

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 28 August 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

[As part of our summer series, we’re re-releasing 8 of our all-time favorite and most popular episodes. These are conversations listeners like you have RAVED about. Each episode has simple, practical takeaways that can be easily implemented to grow your business]

When my guest Codie Sanchez left her job on Wall Street, people thought she was crazy. But Codie knew that true success meant building streams of income that don’t require you to trade your time for money.

So she decided to focus on a niche that few investors even think about: boring businesses. Today, Codie has built a portfolio of 25 “boring businesses,” like laundromats and car washes, that generate eight figures in passive revenue. Sure, boring businesses might not be flashy like creating the next Uber, but they are reliably profitable.

In this episode, Codie is going to show you how you can invest in boring businesses and use them to create lasting wealth. Plus, Codie reveals why you can’t save your way to generational wealth and the secret to being an incredible deal maker. (And I ask Codie a pretty candid question at the end that you might relate to.)

Check out Codie's website codiesanchez.com for great resources.

Follow her on Insta @codiesanchez.

Order your copy of the USA Today and Wall Street Journal bestselling book Good Money Revolution here: https://amzn.to/34hSonE

Ready to take your business to the next level? Schedule a call with Derrick today here: www.GoodMoneyFramework.com/consulting

For daily tips to help you make and save money, follow us on Instagram @derricktkinney

Transcript

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0:00.0	We know you're a business owner, ready to hit your next big revenue goal.
0:11.0	But you feel stuck and don't know what steps to take next.
0:14.8	We understand you are frustration.
0:17.2	Welcome to the Good Money Podcast, where we help business owners and entrepreneurs, just
0:21.1	like you, build their business and build their wealth so they can do more good.
0:26.0	We know you want to achieve success in a fraction of the time.
0:29.3	So each week, we give you access to the best business minds to bring you insightful
0:33.6	interviews, impactful stories, and the inspiration you need so you can build the business you
0:38.7	want and enjoy more meaning and freedom in your life.
0:42.2	I'm your host, Derek Kimmy.
0:45.9	When my guest Cody Sanchez left her job on Wall Street, people thought she was crazy,
0:51.9	but Cody knew that true success meant building streams of income that don't require you
0:57.9	to trade your time for money.
1:00.5	So she decided to focus on a niche that few investors even think about.
1:05.8	That niche is boring businesses.
1:08.4	Today, Cody has built a portfolio of 25 boring businesses, like laundromats and car washes
1:16.0	that generate eight figures in passive income.
1:19.0	Sure, boring businesses might not sound flashy like creating the next Uber, but they are
1:24.4	reliably profitable.
1:26.2	Today, Cody wants to show you how you can invest in boring businesses and use them to create
1:32.5	lasting wealth.
1:33.8	Plus, Cody reveals why you can't save your way to generational wealth and the secret
	...

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