When considering the purchase of a business, it is crucial to evaluate it based on its current state rather than potential improvements. One should acknowledge the business's current flaws instead of harboring an overly optimistic viewpoint. Achieving success often requires focusing on profitable and recession-resistant sectors, such as plumbing, rather than assuming expertise will lead to superior outcomes over existing operators.
In today's episode, Andy & DJ are joined in the studio by investor & entrepreneur Codie Sanchez. They discuss what Codie looks for when buying a small business, the fake image of entrepreneurship portrayed online, and the best way to fix our country through our spending decisions.