416: Codie Sanchez: These “Boring Businesses” Will Make You Rich
1Description
Want to replace your nine-to-five? You'll need to know how to buy a business. And while you may think that you need to be some high-level executive or business-building savant, the reality is that TONS of profitable businesses are selling for pennies on the dollar, just waiting for you to come in, scoop them up, and start making six (or even seven) figures without doing all the work. This is the EXACT strategy that Codie Sanchez used to leave her high-paid banking career to make millions running so-called “boring” businesses.
Whether it’s a laundromat, landscaping service, or law firm, businesses are up for sale without you even knowing it. You DON’T need to be an industry expert to get in on any of these deals. Many of the businesses that Codie has bought have been outside of her core competency. She’s gotten so good at business-buying that Codie now helps other want-to-be entrepreneurs get out of their jobs and into businesses that’ll help them build wealth. Codie’s ten simple steps to business buying can help ANYONE buy, build, and profit from a “boring” business.
Codie breaks down exactly why she left the big paychecks behind to start buying businesses, the repeatable steps to acquiring and growing a business, which business you should be looking for, and five to NEVER buy. You’ll also hear how she funds these business purchases and what to do AFTER buying a business that massively multiplies revenue and makes you millions!
In This Episode We Cover
The “boring” businesses that can replace your salary and make you a millionaire
How to buy a business from start to finish and five business types you MUST avoid
Jobs vs. businesses and how to ensure you buy cash flow, not another nine-to-five
Codie’s buy box and EXACTLY what she looks for when acquiring a business
Where to find funding for business purchases (and which sellers will offer you financing)
Hiring, firing, and becoming the CEO of your first business
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Hear Past BiggerPockets Episodes with Codie:
The Cash-Flow Boosting Businesses that Savvy Real Estate Investors Own
The MOST Profitable Skill to Learn (From a $200M+ VC Investor)
How to Buy Yourself a 6-Figure Income Stream w/Tim Delaney
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-416
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