How Codie Sanchez Built a $50 Million Portfolio of Boring Businesses, and the #1 Skill to Learn in a Recession
Episode 8: Today, host Alex Lieberman (@businessbarista) is flying solo for a very special episode of The Crazy Ones featuring founder and private equity investor Codie Sanchez (@codie_sanchez). Codie has made millions from buying boring businesses (think laundromats, carwashes, and AirBnBs), and has also amassed an audience of over 3 million followers with her media company, Contrarian Thinking. Listen to hear Codie tell Alex about how to determine which boring businesses are actually worth investing in, how to hire good operators, and the art of deal structuring and negotiation.
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00:44 - Intro
01:40 - The Rundown
03:13 - How Codie got to where she is today
06:08 - The first boring business Codie bought
10:30 - What lessons Codie has learned around deal-structuring and negotiation
18:09 - The best negotiations Codie has ever done
21:45 - What makes a great operator for your boring business
23:52 - How Codie scares away a bad hire
26:05 - What boring businesses are catching Codie’s eye right now
33:22 - Why Codie is fascinated with Reese Witherspoon’s business model
36:59 - Why Codie decided to dive deep into content creation
46:10 - How Codie’s boring businesses compare with her media business
48:15 - What Codie has learned about leadership
50:38 - Codie’s hot takes and spiky opinions
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