Revisited - Why Buying Unconventional Businesses Will Help You Gain Financial Freedom With Codie Sanchez [Ep. 68]

Sep 20, 2022

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Greg has spent the last few weeks traveling around the US attending several conferences, so he was unable to record a new episode this week. Instead, we'll be revising one of our favorite episodes where Sarah chatted to Codie Sanchez about how to build wealth the unconventional way. On their journey towards financial freedom, many investors hone in on assets like real estate and stocks, often overlooking the power of purchasing online businesses.

Buying unconventional businesses is contrarian investor Codie Sanchez’s bread and butter. Codie has acquired a personal empire of cash-flowing assets across multiple business models. She teaches investors how to do the same as the founder of Contrarian Thinking, an educational resource where investors and entrepreneurs can learn about how to create an ocean of wealth through different income streams.

In this episode, Codie explains why buying businesses is a great way to fast-track your way to financial freedom. She walks us through the first steps to diversifying your income through online business acquisitions and the common mistakes many entrepreneurs make when trying to achieve financial independence. According to Codie,

“The number one reason people don't achieve financial freedom is they do not spend the time thinking about it, they do not spend the time learning about it, and then they do not spend the time taking action on it.”

Codie also discusses the philosophy behind being a contrarian investor, and how to effectively manage a portfolio of businesses.

If you’re looking for ways to kickstart your journey to financial independence, you don’t want to miss a minute of this episode!

Topics Discussed in this episode:

What it means to be a contrarian investor (02:07)
Why business ownership is a great way to achieve financial freedom (05:20)
The first steps to achieving financial freedom through business ownership (09:53)
The benefits of diversifying asset classes (14:48)
Managing time and leadership across multiple income streams (19:53)
Common mistakes investors make on their journey to financial freedom (22:08)
Out of date investment advice that investors should be wary of (26:09)
Current trends that are driving the investment industry (29:34)
The lessons Codie has learned throughout her career (35:36)

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Sit back, grab a coffee, and learn how to diversify your income streams through purchasing unconventional businesses!