Table of Contents
Strategies for Success and Growth
- 💼 Cody Sanchez specializes in boring businesses that cash flow like crazy, challenging the notion that only flashy and exciting ventures can be profitable.
- 🎯 She takes calculated risks by making big bets on certain businesses, such as her media company, with the expectation of continued cash flow.
- 💼 Buying businesses during recessionary periods can be a lucrative opportunity, especially with the availability of SBA Loans and seller financing, which can minimize the need for a large amount of personal capital.
- 💡 Start with the unscalable things first to understand what is scalable and then sell the former to buy the latter, leading to significant financial success.
- 💰 Codie Sanchez emphasizes the importance of persistence and learning from failures in entrepreneurship, stating “everybody thinks that like we’re some Geniuses that have it all figured out. It’s like no we just kept doing it and failed a few times and kept going.”
- 💼 The most lucrative part of a business is the growth stage, where you can focus on tweaking and watching it continue to climb, while bringing in an operator to handle the management.
- 💡 Growing an email list through owned audiences, like newsletters, is more valuable than relying on rented audiences on social media platforms.
- 💡 Offering valuable content that people actually want can be a successful strategy for engagement and growth.
Business Ownership and Empowerment
- 💰 The most viral and attractive businesses are the ones where machines do most of the work, allowing owners to make passive income.
- 🌍 Democratizing and making business ownership accessible is crucial for empowering individuals and promoting economic inclusivity.
- 🗽 “Ownership is accessible and there’s lots of paths to it. You don’t have to have millions of dollars.”
- 💰 “How to turn your liabilities into assets and make them cash flow for you, like using your car, Airbnb properties, pool, bikes, or surfboards.”
Profitability and Cash Flow
- 💰 “Why couldn’t I do the same thing but much smaller and since they make all of the money when we do the big deals if I do the small deals. Then I can capture all of that return.”
- 💰 “I optimize for cash flow…real estate is really good for depreciation taxes and long-term appreciation that’s less speculative than buying businesses for sure.”