The Next Big Idea Daily How to Build Extraordinary Wealth Buying Ordinary Businesses
5 snips
Jan 13, 2025 
In this insightful discussion, Codie Sanchez, a former Wall Street investor and bestselling author of 'Main Street Millionaire,' emphasizes that true wealth comes from acquiring ordinary businesses rather than chasing trendy startups. She explains how investing in unsexy ventures like car washes and laundromats can yield reliable financial growth. Codie provides strategies for buying these businesses affordably, particularly targeting retiring baby boomers, making a compelling case for why small enterprises can lead to extraordinary wealth.
AI Snips
Chapters
Books
Transcript
Episode notes
Own, Don't Just Earn
- Build wealth by owning businesses, not just earning a salary.
- Ownership offers control and lasting wealth, unlike relying solely on paychecks.
Boring is Best
- The real wealth lies in "boring" businesses like laundromats and car washes.
- These are steady, necessary services, less flashy but more reliable than startups.
Buy, Don't Build
- Buying an existing business is often better than starting from scratch.
- It comes with established systems, customers, and cash flow, increasing the success rate.
