All the Hacks with Chris Hutchins

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

145 snips
Jun 7, 2023
Guest
Codie Sanchez
Codie Sanchez, founder and CEO of Contrarian Thinking, shares her insights on creating wealth through often-overlooked businesses like laundromats and car washes. She emphasizes the power of contrarian investing and offers practical advice on deal-making. Codie recounts her transition from traditional finance to entrepreneurship, the lessons learned from investment failures, and the importance of leveraging personal networks. She also discusses innovative strategies for business ownership, prioritizing health for success, and enhancing communication in relationships.
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INSIGHT

Leaving Wall Street

  • Codie Sanchez left Wall Street because it was categorically miserable, not solely for contrarian reasons.
  • She realized she preferred entrepreneurship and had gained a valuable education in deal-making.
ANECDOTE

Leaving Finance

  • Chris Hutchins left finance after realizing its demanding hours were unsustainable for his personal life.
  • He also disliked the rigid rules and lack of meritocracy he experienced.
INSIGHT

Acquisitions, Not Startups

  • The wealthiest individuals often build empires through acquisitions, not always by starting companies.
  • Codie Sanchez realized she could apply this principle on a smaller scale with "boring" businesses.
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