Building Wealth Through Boring Businesses and Other Contrarian Ways To Live and Invest with Codie Sanchez

#119: Entrepreneur and investor, Codie Sanchez joins to discuss unconventional ways to create wealth through often-overlooked “boring” businesses like laundromats, car washes and vending machines. She also shares her expertise in the art of deal-making, financing options for buying a business, diversifying investments, and applying contrarian thought into our daily routines and relationships.Codie Sanchez (@CodieSanchez) is the founder and CEO of Contrarian Thinking, a media company and newsletter dedicated to challenging traditional investing norms and empowering individuals to think differently about wealth creation. She is currently on a mission to create 100,000 business owners, and 1,000,000 financially free humans.Link to Full Show Notes: https://allthehacks.com/boring-businesses-codie-sanchez
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Resources MentionedCodie Sanchez: Website | Newsletter | Twitter | Instagram | YouTube 10 Step Deal Journey Marriage Check-in: T.E.A.M. Life Hacks: 1 in 60 Rule | Doing Less | 12 Simple Habits ATH #91: Die With Zero: Net Fulfillment Over Net WorthWhy Japan is Giving Away Profitable Businesses for FreeBiz ScoutOutlive: The Science and Art of LongevityBill Perkins's Book: Die With Zero: Getting All You Can from Your Money and Your LifeVirtual Executive Assistants From Oceans XYZ
Full Show Notes(02:31) Challenging The Status Quo With Contrarian Thinking(05:50) Codie's Inception of Investing in “Boring” Businesses(08:50) Is Buying Small Businesses For Everyone?(10:59) Buying A Business As A Full-Time Gig vs. A Side Hustle / How Full-Time is Buying a Business(14:46) The Reason Why Buying Boring Businesses Isn’t Popular(16:52) Do You Need To Be An Expert To Buy A Business?(17:41) The Importance Of Deal Making(21:48) Why Deals Go Wrong(23:57) An Example Of A Bad Deal(26:08) The Success Rate of Buying Small Businesses(31:50) Seller Financing(32:47) Finding Small Business Opport