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
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA ’Stacy Lynn Staples’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
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.
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.
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.
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
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.
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.
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
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.
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.
I’m on TH-cam 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!
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 :).
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
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
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.
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.
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!
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'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.
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 🙂
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!
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
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!
@@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.
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
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. ❤
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.
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
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.
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.
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.
Don’t be shy when buying a business. Ask questions. Request information. Seek assistance from Seller. You’d be surprised who is willing to do what when they are trying to offload a business.
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😂😂
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. 😊
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. 👍
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?
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.
I was formerly a mental health counselor but chose to leave the field. In many ways, it’s a sales field, selling the client trying therapy, on trying a new technique to help themselves, etc. What other types business would you recommend I learn more about to consider buying that may fit my current expertise?
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.
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, it’s not about getting rich. Any asshole can get rich. ( I know that 1st hand) it’s about having purpose, fulfillment, and feeling good about who you are. How and who you spend your irreplaceable time with.
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *Julianne Iwersen-Niemann* for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
One of the best videos I ever saw. Thank you Codie . I want to buy a business I’m foreign, work in transportation I have MBA. And no money or network. Where do I start ? Does anyone here wants to partner up ?
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
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).
I'm Australian, I've just moved to the Philippines 🇵🇭 from Australia 🇦🇺. Just got myself a good lawyer, Love Codie, seems intelligent and respected. Yes to more.
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
Hey Codie 👋 Thank you for all of the great free content you put out! 🙏 I was wondering something. With this approach you say to tell the current owner that you will grow their business for them for a percent of the upside. So is this assuming we have the expertise of growing and running a business already? How can one make an offer to grow someone else’s business when they’ve never grown a business and how does one learn to grow one if they don’t have one? This paradox is confusing me about where the starting point is and making me feel like this strategy is for someone well along their way. Any clarification would be much appreciated!
I have a franchise idea with home maintenance as I have a 30+ years experience in home repairs. With your intelligence I believe you could make it happen 👍🏻🙏🏻
What do you recommend in for a person in my situation who doesn't have much to spend and I just want something that is low scale low investment I'm not wanting to get rich I just want to be able to live a little bit more comfortably. Let me also remind you I'm battling cancer as well I'm just trying to take care of that along with everything
"I have a question, but first I want to express my gratitude for sharing your knowledge with us. It’s really incredible how you cut through the fluff and give us the straight facts. I’m taking notes! My question is: if I partner with a company and receive a percentage of the extra profits after implementing my strategy, how long would my contract typically last? Once my job is done and they’re earning extra revenue, I’d still be getting a share as a 'partner.' But for how long? Would it be a 1-year contract, 2-year, 3-year, or does it depend on the percentage? Could a lower percentage potentially mean a longer-term or even indefinite agreement? I’d really appreciate it if you could elaborate on this aspect and help us understand it better."
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)
After first seeing a Cody Sanchez interview on impact theory I was impressed by her brilliance! Unfortunately I only subscribed just today but glad I did
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
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.
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.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA ’Stacy Lynn Staples’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks, I just googled her I'm really impressed with his credentials. I reached out to her since I need all the assistance I can get.
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.
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.
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.
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?
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.
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
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
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.
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.
I’m on TH-cam 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!
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.
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
Just to prove TH-cam 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?
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
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.
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.
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!
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.
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.
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 watch live videos of buying negotiations. Becoming familiar with an unfamiliar situation gives you a real advantage.
Want to learn how to buy a business? (Free Consult): contrarianthinking.typeform.com/to/WBztXXID
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?
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!
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
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 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.
Freedom, I yearn for the kind of freedom she demonstrates! So excited to learn more!
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!
Real-time buyer conversation, please! Thank you, Codie!
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
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. ❤
Yes, I would like a video of you negotiating with business owners. Thank you!
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.
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.
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.
Thank you for your transparency. It is refreshing to see someone be real about their experiences. Speaking to how failures create wisdom is golden.
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.
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.
Codie, what do you suggest for someone ambitious, who wants to have multiple streams of income, but doesn’t have business acumen?
Don’t be shy when buying a business. Ask questions. Request information. Seek assistance from Seller. You’d be surprised who is willing to do what when they are trying to offload a business.
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😂😂
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...
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. 😊
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. 👍
Thank you SOIOO much Codie! You have no idea how grateful I am. I came from a loving but poor family!
Yes, please a video for what to say when reaching out to small businesses would be great!
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?
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
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.
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.
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
Thank you. We thank God for your simplicity, sincerity, and intelligent ingenuity. Thanks so much!!
I was formerly a mental health counselor but chose to leave the field. In many ways, it’s a sales field, selling the client trying therapy, on trying a new technique to help themselves, etc. What other types business would you recommend I learn more about to consider buying that may fit my current expertise?
I am a student right now and seeing this kind of content really makes a difference in my life
"optimist get rich, pessimist sound smart" 😭
another quote i heard somewhere else...
"Impatience with actions, patience with results"
I could listen to you all day...NO BS just truth!
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 would love to see a video of your talking with owners and getting them to sell to you! This is so exciting 🎉❤
This is great, would love to see a reality series where you go through the entire process from A-Z
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?
I have never thought about buying as my business.
However from now on I will think about it
Codie, it’s not about getting rich. Any asshole can get rich. ( I know that 1st hand) it’s about having purpose, fulfillment, and feeling good about who you are. How and who you spend your irreplaceable time with.
Would love a deep dive on seller financing, what to say to bring that up and how to structure those types of deals
I'd love to hear put all that in action Cody! Thanks for all this great info.
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *Julianne Iwersen-Niemann* for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I simply Googled her name and her website came up right away. So far, it appears interesting. I emailed her, and I hope she responds soon. Thanks
One of the best videos I ever saw. Thank you Codie . I want to buy a business
I’m foreign, work in transportation I have MBA. And no money or network.
Where do I start ? Does anyone here wants to partner up ?
Do you have to be an expert in the field that youre buying the business in?
Would love the video about actual convos with business owners you have. Thanks!
Yes! a video of you buying a business live and thank you for the video ❤😇
"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.
You are Absolutely Brilliant and have more energy than anyone ever I've encountered, WOW!
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
Thank you Cody!!! Value and sustainability galore! You are so greatly appreciated!❤
Yes! I need mentors! You are reading my mind! You are so sharp, Codie 🎉
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…😢
I'm Australian, I've just moved to the Philippines 🇵🇭 from Australia 🇦🇺. Just got myself a good lawyer, Love Codie, seems intelligent and respected. Yes to more.
Are you marrying the lawyer ?
@@autoclearanceuk7191 No.
This is the most informative TH-cam video I have come across this year ❤❤❤.Thanks for the much valuable information.
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
Very dynamic video Codie! Very value added! I hope everyone that has watched it really understands that level of the information that you shared! $$$
Hey Codie 👋
Thank you for all of the great free content you put out! 🙏
I was wondering something. With this approach you say to tell the current owner that you will grow their business for them for a percent of the upside. So is this assuming we have the expertise of growing and running a business already?
How can one make an offer to grow someone else’s business when they’ve never grown a business and how does one learn to grow one if they don’t have one?
This paradox is confusing me about where the starting point is and making me feel like this strategy is for someone well along their way.
Any clarification would be much appreciated!
I have a franchise idea with home maintenance as I have a 30+ years experience in home repairs. With your intelligence I believe you could make it happen 👍🏻🙏🏻
What do you recommend in for a person in my situation who doesn't have much to spend and I just want something that is low scale low investment I'm not wanting to get rich I just want to be able to live a little bit more comfortably. Let me also remind you I'm battling cancer as well I'm just trying to take care of that along with everything
"I have a question, but first I want to express my gratitude for sharing your knowledge with us. It’s really incredible how you cut through the fluff and give us the straight facts. I’m taking notes! My question is: if I partner with a company and receive a percentage of the extra profits after implementing my strategy, how long would my contract typically last? Once my job is done and they’re earning extra revenue, I’d still be getting a share as a 'partner.' But for how long? Would it be a 1-year contract, 2-year, 3-year, or does it depend on the percentage? Could a lower percentage potentially mean a longer-term or even indefinite agreement? I’d really appreciate it if you could elaborate on this aspect and help us understand it better."
What do I do if I'm interested in buying a business, but have no capital to put into the investment???
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. ❤❤❤
This is all and well and good - but what do you after buying the business? Most people don’t know how to run the business itself.
After first seeing a Cody Sanchez interview on impact theory I was impressed by her brilliance! Unfortunately I only subscribed just today but glad I did
You are that light in dark days! God bless you, Codie.
Learning from Codie has for sure helped my mindset and belief that I can do what she teaches!
Codie, hypothetically speaking. If I was a multimillionaire, what would be the first step I should take? Financial advisor or Accountant?
Already wrong, you can't be rich and ask that, you skipped steps