They’re Lying to You About Getting Rich

BigDeal

Codie Sanchez

Business, Investing, Entrepreneurship, Marketing

4.8 • 681 Ratings

🗓️ 19 February 2025

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Codie discusses the importance of ownership in wealth creation, outlining the stages of financial growth and the significance of surrounding oneself with high achievers. She emphasizes the role of grit and emotional intelligence over traditional education, and addresses challenges while encouraging listeners to choose hard paths. There are various strategies for success in business, including the importance of tough conversations, leverage, finding the right mentors, and effective networking. The need for ownership is critical, as is the importance of speed in taking action. Chapters 00:00- The Power of Ownership 02:45- Stages of Wealth Creation 06:10- The Importance of Environment 08:59- Grit and Emotional Intelligence 11:54- The Role of Education in Wealth 15:11- Choosing Hard Paths 18:05- The Gender Dynamics in Wealth Creation 25:07- The Importance of Tough Conversations in Business 26:05- Finding the Right Mentors 27:28- Effective Networking Strategies 30:22- Red Flags in Job Interviews 33:08- Gaining Ownership in Your Company 35:34- Wealth Beyond Salary 36:56- Strategies for Buying a Business 38:21- The Power of Speed in Action 40:45- Finding Businesses to Buy 41:43- Creating Repeat Customers 43:10- Building Valuable Partnerships 44:09- Overcoming Fear of Failure 46:31- The Four Types of Leverage MORE FROM BIGDEAL: 🎥 Youtube: / @podcastbigdeal 📸 Instagram: / bigdeal.podcast 📽️ TikTok: / big.deal.pod MORE FROM CODIE SANCHEZ: 🎥 Youtube: / @codiesanchezct 📸 Instagram: / codiesanchez 📽️ TikTok: / realcodiesanchez OTHER THINGS WE DO: Free newsletter: https://contrarianthinking.biz/3XWLlZp Biz buying course: https://contrarianthinking.biz/3NhjGgN Resibrands: https://resibrands.com/ CT Capital: https://contrarianthinking.biz/4eRyGOk Main St Hold Co: https://contrarianthinking.biz/3YfGa8u Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You don't want to be the average American because the average American dies broken alone.
0:05.0	Why do you feel deep down in your gut that you're not doing enough?
0:10.0	People don't care about where you went to school anymore or what you think they're good at.
0:15.0	Show me. Don't tell me. Sundar Pichai at Google did not become worth hundreds of millions of dollars
0:21.3	from his Google salary.
0:23.3	Getting some skin in the game and some ownership is the pre-indicator for wealth.
0:27.9	We don't actually want millions of dollars to sit on them, right?
0:31.4	We don't want to scrooge McDucket in this silo filled with all of our coins.
0:37.3	That's actually not that interesting to us.
0:40.8	This is the Big Deal podcast, and I'm Cody Sanchez. Today I want to talk about why I think
0:44.9	procrastination is the worst form of self-abuse, how to actually achieve the things you want in
0:50.1	2025. If small has infected your thinking, what it takes to hit millionaire status and then
0:58.0	10 and 20 and 30 millionaire status. This podcast today answers the most often asked questions
1:04.1	all about living big lives with big bank accounts and liking it along the way. I think you're
1:09.3	going to like it. First question, playing the role of a
1:11.7	25-year-old, I want to get where you are, but I only have 7K in the bank. What's my first step?
1:17.2	There's four stages to making money. The first stage is your learning stage. We're just figuring out
1:21.8	not only what do I not know, but what do I think I know that I really don't? This is called conscious
1:28.9	incompetence as opposed to unconscious competence. So what you want to do when you're young is
1:34.0	not really obsessed so much on how to make your first million from your earnings going to your job,
1:39.7	but how do you make it from learning? So that's step one. Step two is earning. So after you've, you know,
1:44.5	started to get in that learning phase of your career, you want to start maximizing earnings. I really
	...

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