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Codie Sanchez: Your Blueprint to Financial Freedom

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Jan 7, 2025

Guest

Codie Sanchez

Codie Sanchez, author of "Main Street Millionaire" and founder of a successful holding company, shares her journey from Wall Street to empowering individuals in financial freedom. She debunks financial myths and discusses the essential distinctions between acquiring and retaining wealth. Codie emphasizes the importance of mindset shifts, strategic networking, and learning from setbacks. She also explores the dynamics of relationships in business and personal life, highlighting resilience and the impact of supportive connections on success.

02:10:44

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ANECDOTE

Codie's Business Journey

Codie Sanchez's business acquisition journey began by emulating private equity strategies.
She adapted their model to smaller businesses, aiming for long-term ownership rather than quick sales.

insights

INSIGHT

The Language of Money

The language of money is about understanding money as a tool and how the wealthy use it.
It involves using debt intelligently and focusing on attracting money rather than just saving.

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ADVICE

Path to Financial Freedom

To gain financial freedom, start with a stable job in a high-paying industry like finance.
Use this time to learn, accumulate capital, and understand how money works before venturing out on your own.

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Navigating the Journey of Business Acquisition and Growth

02:39 • 2min

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Navigating the Language of Money

04:46 • 15min

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Inspiration and Growth: The Power of Proximity

19:25 • 18min

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Lessons from Business Setbacks

37:38 • 6min

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Navigating Startup Capital and Entrepreneurial Focus

43:38 • 4min

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Redefining Wealth and Relationships

47:25 • 18min

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Navigating Remote Work and Social Dynamics

01:05:04 • 23min

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Mastering Effective Hiring Strategies

01:28:23 • 6min

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The True Essence of Kindness vs. Niceness

01:34:43 • 2min

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Navigating Underperformance and Leadership Challenges

01:36:42 • 16min

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Learning from Billionaires

01:52:14 • 8min

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Structured Communication in Marriage

02:00:03 • 5min

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Finding Balance: Communication and Personal Success

02:05:27 • 3min

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The Power of Passion and Perseverance

Angela Duckworth

In this book, Angela Duckworth presents a compelling argument that success is driven more by grit, a fusion of relentless passion and perseverance, than by talent. She explains what grit is, how to identify and develop it, and how it can be grown through stages such as developing interests, consistent practice, finding a pro-social purpose, and cultivating optimism. The book is structured in three parts: explaining what grit is and why it matters, how to grow grit from the inside out, and how to grow grit from the outside in, targeting parents, coaches, teachers, and organizational leaders. Duckworth supports her arguments with personal stories, historical insights, and interviews with high achievers from various fields.

Whether you’re looking to increase your income, start a side business, or completely transform your financial future, Codie Sanchez will break down exactly what separates those who successfully build wealth from those who stay stuck. This conversation is packed with immediately actionable insights covering the biggest myths around money, the difference between acquiring and keeping money, the rich versus broke mindset and how it changes everything, non obvious lessons on negotiating, and more. Plus, we talk about the single most important thing to know about building financial freedom—and it’s not what you think it is.

After spending nearly two decades on Wall Street, Codie Sanchez struck out on her own and has been buying and investing in businesses since 2012. She now runs a holding company of small and medium-sized businesses. Her unique focus is on “boring businesses” like laundromats and lawn care services. Sanchez is also the author of Main Street Millionaire: How to Make Extraordinary Wealth in Ordinary Businesses.

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(00:00) Intro

(02:48) Codie Sanchez's Journey to Business Acquisition

(04:21) Understanding the Language of Money

(07:06) The Importance of Financial Freedom

(16:12) Learning and Earning in Your 20s

(17:32) The Power of Proximity and Mentorship

(28:37) The Role of Effort and Determination in Success

(39:45) Lessons from Business Failures

(44:22) Mastering Business Focus and Layering

(46:31) Misconceptions About Money

(48:21) Saving vs. Earning: A Financial Perspective

(51:57) The Rich vs. Broke Mindset

(53:24) Allies vs. Friends in Success

(01:09:04) The Importance of Reputation

(01:20:41) Negotiation and Sales Skills

(01:23:40) The Art of Door Knocking

(01:25:07) Defining Good and Bad Businesses

(01:26:26) Identifying Business Problems

(01:27:57) Hiring the Right People

(01:42:57) Traits of High Performers

(01:46:42) Balancing Work and Personal Life

(01:57:37) Investing as a W2 Employee

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