Codie Sanchez thinks you should buy a business, not just invest
Own or be owned. That’s Codie Sanchez’s ultimatum for anyone serious about their financial future. The founder of Contrarian Thinking and author of the new book Own or Be Owned makes her most impassioned case yet for why buying a small business is the most reliable path to wealth that most people are too scared to take. She breaks down what “cowboying” your business is costing you, and why AI…
Codie Sanchez, the founder of Contrarian Thinking and author of the new book "Own or Be Owned," makes a strong case for buying a small business as the most reliable path to wealth. She argues that investing in a business allows you to trade your time for long-term dollars, which is a unique investment opportunity. Sanchez emphasizes that even if you experience losses, you can still learn valuable lessons from the experience.
She also highlights that owning a home or stocks is often an emotional decision and can be a liability, while a business can provide financial freedom. However, she acknowledges that running a business can be challenging and addictive, with many owners struggling to achieve profitability. Sanchez advocates for systematizing all aspects of the business to ensure consistent success, as the top 10% to 20% of companies are 30 times more profitable than the lower performers.
She believes that AI may create some exceptional outliers but won't transform every individual into a billionaire.
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