Simon Squibb
Codie Sanchez’s Unconventional Blueprint to Get Rich
Dec 4, 2024
Codie Sanchez, a multi-millionaire entrepreneur and founder of Contrarian Thinking, shares her unique approach to financial freedom. She emphasizes the vital strategy for acquiring small businesses, particularly as baby boomers retire. Codie examines the advantages of seller financing and the importance of developing negotiation skills. She also discusses aligning personal values with investments, advocating for a more fulfilling entrepreneurial experience over traditional avenues. Her insights on building credibility and personal equity are both inspiring and actionable.
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Quick takeaways
- Codie Sanchez emphasizes the shifting dynamics in small business ownership due to retiring baby boomers, creating unique opportunities for new buyers.
- Utilizing strategies like seller financing allows aspiring business owners to overcome financial barriers, focusing on the deal structure over the asking price.
Deep dives
The Three Waves of Business Buying
Current market dynamics suggest three significant trends impacting small business ownership. The baby boomer generation, accounting for a substantial majority of small business ownership, is set to retire, resulting in a high supply of businesses for sale. As these owners often lack retirement savings outside their businesses, there's a unique opportunity for new buyers to step in. Additionally, shifts in workforce attitudes, notably seen in the Great Resignation, present potential buyers who seek meaningful work outside traditional corporate structures, paving the way for intergenerational business ownership dialogues.
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