The Prof G Pod with Scott Galloway How to Build Wealth — with Codie Sanchez
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Dec 5, 2024 
Codie Sanchez, a former Wall Street investor and CEO of Contrarian Thinking, shares her insights on building wealth through small business acquisitions. She discusses identifying promising businesses, financing strategies, and capitalizing on the retirement wave of baby boomers. Codie also critiques traditional business education, advocating for practical, hands-on experiences instead of MBAs. Her transformation from investor to entrepreneur highlights the potential of ordinary businesses for extraordinary wealth, emphasizing that the journey often lies in less glamorous sectors.
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The RICH Method
- Research potential businesses thoroughly before investing, focusing on due diligence and deal specifics.
- Consider the terms of the deal more than the price, prioritizing risk reduction over potential profit.
Main Street Business Advantages
- Main Street businesses, often overlooked, offer sustainable wealth-building opportunities.
- These businesses, unlike startups, have proven profitability and haven't relied on external funding.
Gateway Drug Businesses
- Start with simple, "gateway drug" businesses like self-serve car washes or laundromats.
- These require less capital and fewer employees, offering a manageable entry point into business ownership.
