After watching Codie videos. I bought $1M business with 50k (5%). After 4 months of being business owner (today), I’m kinda addicted to search another business to buy. Thank you
Love your content! I thing I am goi g to pioneer and hope you could focus on is large amount of single moms and women that are now just 50 or 51 and are ready to try to become business owners , make a ton of money and give back! We have the experience the wisdom and are less fearful ... How
Gotta throw some Alex Hormozi in there as well. Especially his videos from a few years ago. There is a ton of value and useful info, especially in those earlier ones. And My First Million as well.
My brother is a business broker. He has a guy cold calling for him. He called a roofing company, the owner was ready to retire and was just about to close it down. He offered him 200k. Turned around and listed it for $400k 2 days later.
Codie you inspired me to seek out a second business after buying out my father for my first one. I started the process of negotiating in July and had to get creative to come up with financing and finally closed in February of this year. I was spoiled with a 1M dollar seller financed loan and that business did 2M in sales my first year. Now my second was 320K and is projected for 700k in sales this year. I have put 0 dollars out of my own pocket to start both of them. I am on the hook for paying the loans obviously. The confidence you have put in me to "just do it" is what sent me looking to expand. I am so happy I did it. Both businesses are the same which has allowed me to have buying power and make more profit % from the start. After this one is fully switched over to what I do, I will be looking for a third. Thank you for your confidence. I don't have FU money yet but someday :).
Closed this with the most authentic reason to do this... FREEDOM. My close runner up that I think about often is that humans are CREATIVE beings and are happiest when they are creating. Tough to create working for someone else at a large corporation. Thanks for all of your great work.
I’m on RUclips everyday consuming minimum 1-2 hours of content to learn different skills and I just have to say, your content value with actionable, strategic steps that the person listening can take is leaps and bounds above others I watch. Thank you for this!!
I've consumed a lot of content on entrepreneurship and finances, including the majors players and influencers. You are, without a doubt, the best at delivering the messages I want and need to hear. Thank you!
Would love to see a video targeting small rural communities - businesses to buy, businesses to start/avoid, how to make money in small rural towns. Thanks for your work!
@@JenniferCapwell-xm1eiIt's definitely possible. My grandmother utilized Native funds that no one even thought to use to build a smoke shop and then a snack shop.
@ Gives more details on how to find and finance deals. I’d say’s worth it… the group she offers above that for 10k +… probably not worth it unless you have the extra capital and want to network with business owners and partners that are building empires.
I saw a LinkedIn post of yours which motivated to find a business. I found an existing salon? , bought it, and now doing 2.5x in sales (8 months later)
Hi Ahmed... congrats... care to connect? Want to pick up your mind on this idea... may be we might learn something from each other... I'm also on LinkedIn... care to share your email? Thanks
Awesome mate, great job. How hands on are you day to day in that business? Did you learn some big lessons since finding the business until now? Really impressive and inspiring.
Cody, this video is an MBA in private equity, with CFA, 2 internships and 5 years of experience. You have NO idea what this content means to me, a person who’s 50 and now jumping onto the entrepreneurial wagon with loads of experience.
Codie, your content is exceptionally valuable even far across the continents! For people like me wo are sitting in India. Thank you for such valuable information. this is my probably 5th video from your channel. Keep it coming. Thank you!
Taking actions from this video should result in better results than passively looking. Been doing that for the last year and not happy about it. Thanks Codie!
Your advice is spot on and was thinking of doing the exact same thing with business owners in my local chamber of commerce and BNI. What business owner would not be open to growing their business without adding any additional costs; it’s a win-win for the potential consultant/equity investor and the business owner, the only caveat being a clear path to increased revenue and profits.
@@Rouri8 Rana Al Malki: I have subscribed your channel. I am trying to find your LinkedIn Profile. What is your LinkedIn Profile so I can send you a connection request to you. It is very honour to know you.
Thanks for mentioning Nigeria and using it as an example! I'm British Nigerian (Born and raised in England to Native Nigerian parents) . I'm currently looking for small British businesses to buy but have Nigeria in mind too. if anyone is in the UK and is buying and selling businesses , lets connect! Please and thankyou
Having multiple streams of income is a game-changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectations. May you find success as you read
My husband and I are small organic and permaculture farm business owners and we do plan to sell our business in 1-2 years , and we started with looking for business partners and trying to find the right person to take over.
It would be amazing seeing from start to finish how u, unrehearsed, approach business owners. Even the choosing and initial call fascinates me. I could watch hours of that.
10 Things: Know what you want from this? Courage - embrace some risk and know it might be hard Creativity - see an obstacle an be excited to find a creative way to solve it. Resilience - 80% Grit Resourcefulness - Optimism (optimists get rich, pessimists sound smart) Continuous learning - “Anyone who stops learning i sold, whether at 20 or 80. Anyone who keeps learning stays young.” - Henry Ford Your Why - create a compelling vision that keeps you going when it gets hard Dark why - what you dont want Light why - dream and freedom Pivot/Adaptability Patience - it will take you longer than you think
Hey Codie. I'm a newbie to your channel, and I feel as though I discovered gold. I own no business. I would be really interested in seeing you do a video on a business deal. Yes, please. 😊
I am still in the Beginning Learning stages. But I so appreciate you being willing to add the importance of keeping track of our actions to become accountable and develop consistency. And also Thankful for listening to just you only straight Teaching directly only. Thank you!! Some interviews are really insightful some are more so than others. Nonetheless we do appreciate you! Thank you
These are extremely useful rules for anyone looking to grow rich. Unfortunately, the majority of individuals that see this video will be unable to implement the ideas. We may not like to acknowledge it, but as Warren Buffett famously stated, investing is like any other profession: it takes a certain amount of knowledge. It's no surprise that some people are losing a lot of money during the bear market, while others are profiting by hundreds of thousands. I'm just not sure how they do it. I now have around $570k to invest in the market.
Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.
Agreed, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Love your book!! I preordered and it arrived at just the right time. Buying my First business. Closing day is right around the corner. This book was so helpful!!! Especially the part where you talk about what to do in the first 90 days. Thank you for sharing your knowledge!!!♥️❤️♥️
I'm so glad you love it!!! If I can ask a HUGE favor…would you mind leaving a review of the book? It would help more people find it so we can keep creating Main Street Millionaires! → contrarianthinking.biz/MSMReview
Dear Codie just to express how much I am grateful for your content and the value you have been sharing. Am a big fan and I consumed almost your videos. Wish you continue your business with exploding success. Big thanks again.
I am new to this channel and the idea of buying existing businesses. I have been binge watching her videos ever since ❤ cannot WAIT to put these tools into action!
This video is just what I needed right now. I'm in the sourcing process for few months and started to lose hop to find businesses. Codie just gave me priceless pieces of advice I'm going to apply right now. Thanks a lot Codie, you are the best 🙂
This is what I need it to hear to let go of the fear.. have told a few of my family members that are business owners and land owners back home and they don’t take me seriously when they’re mentally is a little old. And with my video ideas and pictures and advertisements could scale the crap of the business here.. but nothing I’m going to look into searching buying business and learning more
I think so many people are afraid of mistakes, but that is actually where you gain the most wisdom. Like riding a bike, you have to DO it (and fall a few times) to learn how not to fall.
A video on looking at financials and knowing if the business makes sense to buy and the live would be great! How the process to do the due diligence as well would be helpful
I accidentally saw you on an interview with Lewis and I have been voraciously consuming your content. I’m on a mission to be wealthy. I always thought starting a business was the way. I am so excited to learn and buy my first business🤗🤗🤗 Would love videos on your transactions in buying businesses.
Great point on the potential of buying businesses as a pathway to wealth, especially with so many baby boomers retiring. The emphasis on mindset as a crucial factor in overcoming the initial hurdles is spot-on and encourages taking calculated risks with a solid strategy. 👍
Like your vidz a lot. You’re an inspiring woman. I have to giggle a little about the Venmo challenge though. I don’t even use it or anything like it. I only shop at Walmart/Sam’s, Home Depot and Amazon because of affordability reasons. We also have very few small businesses where I would even consider spending money - except restaurants. I’ve spent my life being the caregiver and educator of children, and now that I’m a grandparent I have elderly moms and aunts and a disabled brother. My husband’s ‘decent’ salary supports a household of 4 adult mouths with VERY little contributed from them. I’m working through how to try to pay off debts we have (bad choices which I will own) and make money in a way that allows me to be the caregiver I need to be. I have so much to learn, but I’m taking the first steps in my journey toward financial freedom.
Yes please make a video on conversations with sellers/biz owners Looking at financials would be great too. Do you typically buy owner absentee businesses?
Codie, all I know is hospitality after owning and running a franchise cafe for over 6 years, and it was a HARD 6 years. What are your thoughts around buying into cafes that are struggling that are or are not a franchise? There are so many out there but I can’t work IN a biz ever again. I just sold my cafe and am looking for my next business to buy, but I want yo work smarter not harder. thanks for this video which has sparked hope in me. ❤
Thanks Codie, my husband and I closed on a business in November with $0 down of our own money. We had to use SBA for that deal, but we just found an off market deal and we are hopefully going to be able to use seller financing.
I've been watching your Cody's video for a while now and today i finally subscribed. I was inspired by your videos and how you simplify the complexities of starting a business. Anyways, I'm from Papua New Guinea and I've always wanted to start a money lending business. However, due to the demanding cost, i guess, i put that idea aside and ventured into retailing. I've started a restraunt it kinda failed then i started a clothing retail Business and it also failed, so i decided to do a online store and it failed. Then i thought maybe I'm not passionate about this business, i started them because it felt easy but there too many competitors and high cost. So now I'm working to start my money lending business, and there's actually market need for that business, I'm currently working on my website, and some legal stuff. So thankyou Cody, you've help me understand how easy it it to start a business
Thank you for sharing this Codie. My question is what do I do after buying the business? My focus should be on adding value into it and increasing the profitability. Could you advise on strategies to maximize profits, essential skills, and budget requirements? Also, can you share like 3 to 5 book recommendations for mastering business from basics to advanced?
This is very helpful Codie. Thank You!! We are trying to find businesses to buy in Thailand. Same dynamics here... many older folks want to retire but their kids are not interested in the business.
Kids nowadays don't want to break their backs for a dream too high to reach ...and I wouldnt blame them. Back then a guy doing lawns could afford a house, now it takes 2 doctors to buy the same house.😂
Hi Codie ❤ question! So I am looking into duplexes to live in and rent out at the same time for income. Do you think I should work on saving for a business instead of real estate? Need some advice from anyone that has experience in both fields
Thanks for sharing all your knowledge!! it is gold!!! I am buying accounting firms in Spain but I always struggle to negotiate the paying terms. Whenever I ask to defer the payment in 3-4 years the owner always replies to me: of course not, you want to buy my business for free, being the cash flow of the business what pays for it, so instead of selling it I would keep it. --> I don't know how to reply to that honestly, I get stuck, and so far I've made 2 acquisitions paying 75% upfront and 25% after 1 year, but I don't have more cash to keep growing that way (the second acquisition was payed with bank financing).
Thank you! You are amazing. Codie you are a machine lol I had to listen in a slower speed. You are so good at breaking down things in a practical way. Blessings to you. Hands down best video I have ever seen!
Thank you hubspot! I really appreciate this. SINCERELY!:) quick question though. How can I create a good pitch without any cash money or what's the best way to ask for someone's business?
Loved the video, thanks Codie! Used the Venmo Challenge and found a small business owner I feel I could reach out to. A video dedicated to helping a business owner grow their business/owning part of it, not necessarily taking it over would be amazing! Especially if you don't necessarily have the skillset yourself (e.g. adding a website, but don't have web design skillset)
Great video, especially for the younger generation. It gives great guidance and also talks about the real difficulties that one faces behind the scenes and therefore not misleading. Great work. Keep it up. 👌👌
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
Rebecca Lynne buie is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
That's so neat! I was just about to stop watching video to go get some biz on foot, that's how rough times are. I feel so secured by this video because right before I heard this video I had texed my support team ; I really just dont know what to do at this point! Wow . This video is GOLDEN !!!! Thank You !!! 👍 For stating what your dad said about being enteprueneal. Glad i heard that last part before signing off. Much Respect to You!!! Truly beautiful.
The acquisition mindset pillars really set the stage for success in buying a business. One key tactic is leveraging 'earn-outs' in deals, which aligns seller payments with the business's performance post-acquisition, often making it easier to finance the purchase. Also, don't overlook due diligence on customer concentration - it's a hidden risk that can impact future revenue stability.
Just joined my local chamber and had intended to offer my Leadership training and coaching and be silent on my Real estate Private Money lending. I now see a path where I can use my same money lending funds to seek out businesses to buy. Wow! Have you changed my elevator speech/intro. Yes, I'd like to see a live owner conversation. My Leadership coaching and training can now be an EXPERTISE Entry THAT ALLOWS ME TO BUILD TRUST as I build deal flow into me.!!! App tracker- please share the names of some you recommend. Yes share the templates and other goodies you asked us to ask for!! I want it all Thanks for your awesome sharing! My MBA FEELS Obsolete LISTENING TO YOU😂😂
Hi Codie ! I appreciate you so much, I love how digestible your content is. I am not college educated, yet very intelligent because I read and study on my own with topics that I am passionate about; "shadow" work , spiritual, emotional sector. I get quite intimated by the business side, Yet I want to be an owner and a leader for a great cause. The kind of business I want to buy are women's recovery homes, and create new ways of sobriety. In the beginning of the youtube, you mentioned I had to know how to read 5 financial templates. Do you have a place where You teach how to read those templates ? I feel and believe I have all other attributes you mentioned. Thank you in advance again Codie xoxo
Thank you for sharing your success and failures. Right now I am in the pain stage, new entreprenuer, full time mom, not w2 worker and starting slow at 0. I would love it if you would speak to or tailor a video to stay at home moms. I am looking at vending machines and Turo at the moment as a gateway business. Would love to hear your input.
Codi what was your foundation education to give you the knowledge and mindset you developed as I have two daughters and want them to grow up and achieve ownership/freedom aged 1 and 3 at present
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
Yes to the live video of you talking to owners, reaching out to owners about buying their businesses. And how to buy if you have NO money!
No answer o n tricky question.
sweet story always answers!
no many - no jam
Please tell us what to say when talking to business owners.
After watching Codie videos. I bought $1M business with 50k (5%). After 4 months of being business owner (today), I’m kinda addicted to search another business to buy. Thank you
What!! That’s amazing!! Email me the details I want to highlight you!
I wanna hear more about this!!
That's awesome! Where did you get the start-up money?
Hey ! I'm also curious about how to buy business& everything how to check this business is legal or fake please tell me .
That’s great. Would love to hear Codie do a follow up with you. Been looking for the same thing.
Codie your videos keep getting better. The quality of production and the content is insanely valuable. You're a gift to entrepreneurs.
Yay thank you!!! You are a gift as a builder!!!
Love your content! I thing I am goi g to pioneer and hope you could focus on is large amount of single moms and women that are now just 50 or 51 and are ready to try to become business owners , make a ton of money and give back! We have the experience the wisdom and are less fearful ...
How
@@CodieSanchezCT I was just thinking the same thing!
A real gift. 🙏🏽🙏🏽
I am grateful.
I agree 100 percent
My three favorite channels: Codie Sanchez, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
Gotta throw some Alex Hormozi in there as well. Especially his videos from a few years ago. There is a ton of value and useful info, especially in those earlier ones. And My First Million as well.
You left out Minority Mindset😂
Myron Golden is good too.
My first Million and Alex Harmozi are also good.
I want to download all 5
My brother is a business broker. He has a guy cold calling for him. He called a roofing company, the owner was ready to retire and was just about to close it down. He offered him 200k. Turned around and listed it for $400k 2 days later.
Yah? I listed a stick of gum for $100k.
@@ElectricDreams2how many chews on it?
@@ElectricDreams2lol 🤣
Hey Codie - amazing video. Would love to see a real-time buyer conversation video.
Keep up the great work.
Codie you inspired me to seek out a second business after buying out my father for my first one. I started the process of negotiating in July and had to get creative to come up with financing and finally closed in February of this year. I was spoiled with a 1M dollar seller financed loan and that business did 2M in sales my first year. Now my second was 320K and is projected for 700k in sales this year. I have put 0 dollars out of my own pocket to start both of them. I am on the hook for paying the loans obviously. The confidence you have put in me to "just do it" is what sent me looking to expand. I am so happy I did it. Both businesses are the same which has allowed me to have buying power and make more profit % from the start. After this one is fully switched over to what I do, I will be looking for a third. Thank you for your confidence. I don't have FU money yet but someday :).
1m a year is more than 20x the average family income, that's fu money
@@jtowensbyiii6018 That is excellent!!! I am VERY interested in what business you are in.
Closed this with the most authentic reason to do this... FREEDOM. My close runner up that I think about often is that humans are CREATIVE beings and are happiest when they are creating. Tough to create working for someone else at a large corporation. Thanks for all of your great work.
I’m on RUclips everyday consuming minimum 1-2 hours of content to learn different skills and I just have to say, your content value with actionable, strategic steps that the person listening can take is leaps and bounds above others I watch. Thank you for this!!
I've consumed a lot of content on entrepreneurship and finances, including the majors players and influencers. You are, without a doubt, the best at delivering the messages I want and need to hear.
Thank you!
Would love to see a video targeting small rural communities - businesses to buy, businesses to start/avoid, how to make money in small rural towns. Thanks for your work!
Yes this is also a question of mine, mainly on a Native Reservation? can you utilize VA and or Native funds?
@@JenniferCapwell-xm1eiIt's definitely possible. My grandmother utilized
Native funds that no one even thought to use to build a smoke shop and then a snack shop.
Just to prove RUclips works. I've watch you for years now... Finally Bought the course.
I expected you to say you bought a business after that long!
@@Iris-2022 I’m slow ;-)
@@admin-dl3dn was the course worth it?
Why did you need to buy the course when she is telling everything ?
@ Gives more details on how to find and finance deals. I’d say’s worth it… the group she offers above that for 10k +… probably not worth it unless you have the extra capital and want to network with business owners and partners that are building empires.
I saw a LinkedIn post of yours which motivated to find a business. I found an existing salon?
, bought it, and now doing 2.5x in sales (8 months later)
Hi Ahmed... congrats... care to connect? Want to pick up your mind on this idea... may be we might learn something from each other... I'm also on LinkedIn... care to share your email? Thanks
Awesome mate, great job. How hands on are you day to day in that business? Did you learn some big lessons since finding the business until now?
Really impressive and inspiring.
This video is fire!! 🔥
Yes to more detailed instructional how to videos, including how to speak to business owners and you actually speaking to them.
Cody, this video is an MBA in private equity, with CFA, 2 internships and 5 years of experience.
You have NO idea what this content means to me, a person who’s 50 and now jumping onto the entrepreneurial wagon with loads of experience.
Codie, your content is exceptionally valuable even far across the continents! For people like me wo are sitting in India. Thank you for such valuable information. this is my probably 5th video from your channel. Keep it coming. Thank you!
Taking actions from this video should result in better results than passively looking. Been doing that for the last year and not happy about it. Thanks Codie!
Your advice is spot on and was thinking of doing the exact same thing with business owners in my local chamber of commerce and BNI. What business owner would not be open to growing their business without adding any additional costs; it’s a win-win for the potential consultant/equity investor and the business owner, the only caveat being a clear path to increased revenue and profits.
@Codie Sanchez: Yes Yes. Please! We want to see you live buying businesses with owners. It will be a great show. Thank You :)
Agree!
@@Rouri8 Rana Al Malki: I have subscribed your channel. I am trying to find your LinkedIn Profile. What is your LinkedIn Profile so I can send you a connection request to you. It is very honour to know you.
Yes, I would like a video of you negotiating with business owners. Thank you!
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
Thanks for mentioning Nigeria and using it as an example! I'm British Nigerian (Born and raised in England to Native Nigerian parents) . I'm currently looking for small British businesses to buy but have Nigeria in mind too. if anyone is in the UK and is buying and selling businesses , lets connect! Please and thankyou
Freedom, I yearn for the kind of freedom she demonstrates! So excited to learn more!
Having multiple streams of income is a game-changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectations. May you find success as you read
This is not the first time I am hearing of this woman and her exploits in the trading world but I have no idea how to reach her?
I'm a beginner. How can i reach out Katrina Jornales?
My husband and I are small organic and permaculture farm business owners and we do plan to sell our business in 1-2 years , and we started with looking for business partners and trying to find the right person to take over.
I’m watching your vids daily feeling motivated. I’m a single mom and I am so ready for more
Real-time buyer conversation, please! Thank you, Codie!
It would be amazing seeing from start to finish how u, unrehearsed, approach business owners. Even the choosing and initial call fascinates me. I could watch hours of that.
Yes, please a video for what to say when reaching out to small businesses would be great!
10 Things:
Know what you want from this?
Courage - embrace some risk and know it might be hard
Creativity - see an obstacle an be excited to find a creative way to solve it.
Resilience - 80% Grit
Resourcefulness -
Optimism (optimists get rich, pessimists sound smart)
Continuous learning - “Anyone who stops learning i sold, whether at 20 or 80. Anyone who keeps
learning stays young.” - Henry Ford
Your Why - create a compelling vision that keeps you going when it gets hard
Dark why - what you dont want
Light why - dream and freedom
Pivot/Adaptability
Patience - it will take you longer than you think
Hey Codie. I'm a newbie to your channel, and I feel as though I discovered gold. I own no business. I would be really interested in seeing you do a video on a business deal. Yes, please. 😊
I'd love to watch live videos of buying negotiations. Becoming familiar with an unfamiliar situation gives you a real advantage.
I am still in the Beginning Learning stages. But I so appreciate you being willing to add the importance of keeping track of our actions to become accountable and develop consistency. And also Thankful for listening to just you only straight Teaching directly only. Thank you!! Some interviews are really insightful some are more so than others. Nonetheless we do appreciate you! Thank you
These are extremely useful rules for anyone looking to grow rich. Unfortunately, the majority of individuals that see this video will be unable to implement the ideas. We may not like to acknowledge it, but as Warren Buffett famously stated, investing is like any other profession: it takes a certain amount of knowledge. It's no surprise that some people are losing a lot of money during the bear market, while others are profiting by hundreds of thousands. I'm just not sure how they do it. I now have around $570k to invest in the market.
Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.
Agreed, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
Thank you for the advice. When you say financial advisor, are you talking about hedge funds? And how do I get in touch with one?
Amber Dawn Brummit is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'd love to hear put all that in action Cody! Thanks for all this great info.
Would love the video about actual convos with business owners you have. Thanks!
Love your book!! I preordered and it arrived at just the right time. Buying my First business. Closing day is right around the corner. This book was so helpful!!! Especially the part where you talk about what to do in the first 90 days. Thank you for sharing your knowledge!!!♥️❤️♥️
I'm so glad you love it!!! If I can ask a HUGE favor…would you mind leaving a review of the book? It would help more people find it so we can keep creating Main Street Millionaires! → contrarianthinking.biz/MSMReview
If this was easy everyone would do it. I have a ton of ideas bubbling up in my head from the tips you gave. Thank you for this video...
Dear Codie just to express how much I am grateful for your content and the value you have been sharing. Am a big fan and I consumed almost your videos. Wish you continue your business with exploding success. Big thanks again.
Yes! a video of you buying a business live and thank you for the video ❤😇
I am new to this channel and the idea of buying existing businesses. I have been binge watching her videos ever since ❤ cannot WAIT to put these tools into action!
Codie, thank you. I have the same necklace in silver!
Your passion for getting the USA back on it's hardworking feet is inspirational!
Bless you!
This video is just what I needed right now. I'm in the sourcing process for few months and started to lose hop to find businesses. Codie just gave me priceless pieces of advice I'm going to apply right now. Thanks a lot Codie, you are the best 🙂
I’m just starting to look into this but getting really inspired. How’s it going so far?
This is what I need it to hear to let go of the fear.. have told a few of my family members that are business owners and land owners back home and they don’t take me seriously when they’re mentally is a little old. And with my video ideas and pictures and advertisements could scale the crap of the business here.. but nothing I’m going to look into searching buying business and learning more
Codie you are awesome!! Would love to see video of you making sales calls
I think so many people are afraid of mistakes, but that is actually where you gain the most wisdom. Like riding a bike, you have to DO it (and fall a few times) to learn how not to fall.
Thank you for your transparency. It is refreshing to see someone be real about their experiences. Speaking to how failures create wisdom is golden.
A video on looking at financials and knowing if the business makes sense to buy and the live would be great! How the process to do the due diligence as well would be helpful
This is exactly what I need
I accidentally saw you on an interview with Lewis and I have been voraciously consuming your content. I’m on a mission to be wealthy. I always thought starting a business was the way. I am so excited to learn and buy my first business🤗🤗🤗 Would love videos on your transactions in buying businesses.
Great point on the potential of buying businesses as a pathway to wealth, especially with so many baby boomers retiring. The emphasis on mindset as a crucial factor in overcoming the initial hurdles is spot-on and encourages taking calculated risks with a solid strategy. 👍
Like your vidz a lot. You’re an inspiring woman. I have to giggle a little about the Venmo challenge though. I don’t even use it or anything like it. I only shop at Walmart/Sam’s, Home Depot and Amazon because of affordability reasons. We also have very few small businesses where I would even consider spending money - except restaurants. I’ve spent my life being the caregiver and educator of children, and now that I’m a grandparent I have elderly moms and aunts and a disabled brother. My husband’s ‘decent’ salary supports a household of 4 adult mouths with VERY little contributed from them. I’m working through how to try to pay off debts we have (bad choices which I will own) and make money in a way that allows me to be the caregiver I need to be. I have so much to learn, but I’m taking the first steps in my journey toward financial freedom.
Yes please make a video on conversations with sellers/biz owners
Looking at financials would be great too.
Do you typically buy owner absentee businesses?
Because of my looser/pesimistic/lazy attitude, I don't understand a single word this lady is saying. This is a good start for me, this realization.
Codie, all I know is hospitality after owning and running a franchise cafe for over 6 years, and it was a HARD 6 years. What are your thoughts around buying into cafes that are struggling that are or are not a franchise? There are so many out there but I can’t work IN a biz ever again. I just sold my cafe and am looking for my next business to buy, but I want yo work smarter not harder. thanks for this video which has sparked hope in me. ❤
Firstly, Thank you Cody for all your hard work and sharing your knowledge. Honestly a video of you buying a couple of businesses would be awesome
Thanks Codie, my husband and I closed on a business in November with $0 down of our own money. We had to use SBA for that deal, but we just found an off market deal and we are hopefully going to be able to use seller financing.
Very dynamic video Codie! Very value added! I hope everyone that has watched it really understands that level of the information that you shared! $$$
"Entrepreneurship is 5% idea, 5% timing, 10% talent, and like 80% not stopping. So the real ingredient is just grit."
Timing accounts for a much higher %
Yes!! I’m reposting your comment. Thank You
Nah it's 100 percent experience.
Thank you! Just thank you. I'm like in my late teens and needed some direction. You've changed my life.
I've been watching your Cody's video for a while now and today i finally subscribed.
I was inspired by your videos and how you simplify the complexities of starting a business.
Anyways, I'm from Papua New Guinea and I've always wanted to start a money lending business. However, due to the demanding cost, i guess, i put that idea aside and ventured into retailing. I've started a restraunt it kinda failed then i started a clothing retail Business and it also failed, so i decided to do a online store and it failed. Then i thought maybe I'm not passionate about this business, i started them because it felt easy but there too many competitors and high cost.
So now I'm working to start my money lending business, and there's actually market need for that business, I'm currently working on my website, and some legal stuff.
So thankyou Cody, you've help me understand how easy it it to start a business
You are subject matter expert,professional, detail oriented & well organized
I really learn a lot from you
Keep up the good work
Thank you so much
Thank you for sharing this Codie. My question is what do I do after buying the business? My focus should be on adding value into it and increasing the profitability. Could you advise on strategies to maximize profits, essential skills, and budget requirements? Also, can you share like 3 to 5 book recommendations for mastering business from basics to advanced?
Thank you Cody!!! Value and sustainability galore! You are so greatly appreciated!❤
This is very helpful Codie. Thank You!!
We are trying to find businesses to buy in Thailand.
Same dynamics here... many older folks want to retire but their kids are not interested in the business.
Kids nowadays don't want to break their backs for a dream too high to reach ...and I wouldnt blame them. Back then a guy doing lawns could afford a house, now it takes 2 doctors to buy the same house.😂
Foreigners can only own 49% of a business in Thailand.
Yes Codie. We definitely want to watch you buy businesses live
Thank you SOIOO much Codie! You have no idea how grateful I am. I came from a loving but poor family!
Would love a deep dive on seller financing, what to say to bring that up and how to structure those types of deals
Yes! I need mentors! You are reading my mind! You are so sharp, Codie 🎉
Hi Codie ❤ question! So I am looking into duplexes to live in and rent out at the same time for income. Do you think I should work on saving for a business instead of real estate? Need some advice from anyone that has experience in both fields
You’re going to make much more money scaling a business than real estate right now.
Thanks for sharing all your knowledge!! it is gold!!! I am buying accounting firms in Spain but I always struggle to negotiate the paying terms. Whenever I ask to defer the payment in 3-4 years the owner always replies to me: of course not, you want to buy my business for free, being the cash flow of the business what pays for it, so instead of selling it I would keep it. --> I don't know how to reply to that honestly, I get stuck, and so far I've made 2 acquisitions paying 75% upfront and 25% after 1 year, but I don't have more cash to keep growing that way (the second acquisition was payed with bank financing).
the same thing happens to me…😢
Thank you! You are amazing. Codie you are a machine lol I had to listen in a slower speed. You are so good at breaking down things in a practical way. Blessings to you. Hands down best video I have ever seen!
Thank you hubspot! I really appreciate this. SINCERELY!:) quick question though. How can I create a good pitch without any cash money or what's the best way to ask for someone's business?
Loved the video, thanks Codie! Used the Venmo Challenge and found a small business owner I feel I could reach out to. A video dedicated to helping a business owner grow their business/owning part of it, not necessarily taking it over would be amazing! Especially if you don't necessarily have the skillset yourself (e.g. adding a website, but don't have web design skillset)
Can't get enough of your videos, please go live with conversation and offer, etc. ❤❤❤
Thank you. We thank God for your simplicity, sincerity, and intelligent ingenuity. Thanks so much!!
I could listen to you all day...NO BS just truth!
I would love to see a video of your talking with owners and getting them to sell to you! This is so exciting 🎉❤
Some Stanford Professor gave a lecture about the six points of making a sale: #2 or #3 was reciprocity.
You're welcome.
Some are good to buy, some are better to start.
:) cheers Codie
Great point. Before buying a business or franchise, you should always ask yourself... Can I simply copy this business and do it better?
Great video, especially for the younger generation. It gives great guidance and also talks about the real difficulties that one faces behind the scenes and therefore not misleading. Great work. Keep it up. 👌👌
Codie You inspire me everytime . Thank you .
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Rebecca Lynne buie is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Codie with the gems of knowledge 💡
That's so neat! I was just about to stop watching video to go get some biz on foot, that's how rough times are. I feel so secured by this video because right before I heard this video I had texed my support team ; I really just dont know what to do at this point! Wow . This video is GOLDEN !!!! Thank You !!! 👍 For stating what your dad said about being enteprueneal. Glad i heard that last part before signing off. Much Respect to You!!! Truly beautiful.
The acquisition mindset pillars really set the stage for success in buying a business. One key tactic is leveraging 'earn-outs' in deals, which aligns seller payments with the business's performance post-acquisition, often making it easier to finance the purchase. Also, don't overlook due diligence on customer concentration - it's a hidden risk that can impact future revenue stability.
I love YOU!!!!! I am watching every video you have!
She is married, simp
Just joined my local chamber and had intended to offer my Leadership training and coaching and be silent on my Real estate Private Money lending. I now see a path where I can use my same money lending funds to seek out businesses to buy. Wow! Have you changed my elevator speech/intro.
Yes, I'd like to see a live owner conversation.
My Leadership coaching and training can now be an EXPERTISE Entry THAT ALLOWS ME TO BUILD TRUST as I build deal flow into me.!!!
App tracker- please share the names of some you recommend.
Yes share the templates and other goodies you asked us to ask for!! I want it all
Thanks for your awesome sharing! My MBA FEELS Obsolete LISTENING TO YOU😂😂
Thank you so much Codie. Love all your content!
Hi Codie ! I appreciate you so much, I love how digestible your content is. I am not college educated, yet very intelligent because I read and study on my own with topics that I am passionate about; "shadow" work , spiritual, emotional sector. I get quite intimated by the business side, Yet I want to be an owner and a leader for a great cause. The kind of business I want to buy are women's recovery homes, and create new ways of sobriety. In the beginning of the youtube, you mentioned I had to know how to read 5 financial templates. Do you have a place where You teach how to read those templates ? I feel and believe I have all other attributes you mentioned. Thank you in advance again Codie xoxo
Yes! A video of you live buying businesses!
I agree!!
This is the most informative RUclips video I have come across this year ❤❤❤.Thanks for the much valuable information.
Codie, what do you suggest for someone ambitious, who wants to have multiple streams of income, but doesn’t have business acumen?
Your tips of how to find a business to buy is gold! Would love to get your financial sheet template❤
Thank you for sharing your success and failures. Right now I am in the pain stage, new entreprenuer, full time mom, not w2 worker and starting slow at 0. I would love it if you would speak to or tailor a video to stay at home moms. I am looking at vending machines and Turo at the moment as a gateway business. Would love to hear your input.
You are that light in dark days! God bless you, Codie.
"optimist get rich, pessimist sound smart" 😭
another quote i heard somewhere else...
"Impatience with actions, patience with results"
Codi what was your foundation education to give you the knowledge and mindset you developed as I have two daughters and want them to grow up and achieve ownership/freedom aged 1 and 3 at present
Crazy good value Codie. Hope to be a part of the Contrarian community in the near future. Thanks team.
I love your videos. I’ve found getting in to the winners circle to be around the right mindset of people has not been easy.