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Watch these 50 minutes if you want to be a millionaire in 2023 by Codie Sanchez

Codie Sanchez is a reformed journalist, turned. institutional investor to now a Managing Director and. Partner at Entourage Effect Capital, a private equity. firm focused specifically on investing in the legalized. cannabis industry. (@Codie_Sanchez) Founder and CEO of Contrarian Thinking.

In an era where big businesses and conglomerates dominate the market, Codie Sanchez’s video emphasizes the importance of small businesses and the opportunities they present. Through a detailed analysis of the current economic landscape, she provides a roadmap for acquiring businesses, even with zero dollars, and building wealth. This article will explore the key takeaways, main arguments, lessons learned, and final thoughts from the video.

5 Key Takeaways

  1. The Importance of Small Businesses: Sanchez highlights the significance of small businesses in the community and the threat they face from big corporations. She urges the audience to invest in local businesses to prevent a nation of renters and employees.
  2. Buying Businesses in a Recession: The video emphasizes the opportunities that arise during a recession for acquiring businesses. Sanchez provides strategies for buying businesses with zero dollars and explains why now is the best time in history to acquire.
  3. Generational Wealth Creation: Sanchez believes that acquiring businesses is a path to generational wealth creation. She provides examples of deals and explains how to overcome limiting beliefs.
  4. The Get Rich Tripod: The video introduces the concept of the “Get Rich Tripod,” consisting of money, experience, and sweat. Sanchez explains how to leverage these three aspects to acquire businesses.
  5. Community Impact: Beyond wealth creation, Sanchez stresses the positive impact that owning small businesses can have on the community. She emphasizes the role of small business owners in solving societal problems like unemployment.

Main Body of the Article

A. The Threat to Small Businesses

Sanchez begins by painting a vivid picture of the threat that small businesses face from big corporations and government. She argues that the community is under attack from the “really big and the Really centralized.” By investing in small businesses, individuals can counter this trend and preserve the essence of a nation of owners.

B. Opportunities in a Recession

The video delves into the opportunities that arise during a recession for acquiring businesses. Sanchez explains how to buy a business with zero dollars, using examples like laundromats to demonstrate the potential profits. She emphasizes that 2023 will be a tough year but one filled with opportunities for those ready to seize them.

C. Overcoming Limiting Beliefs

Sanchez addresses common limiting beliefs that prevent people from acquiring businesses. She urges the audience to flip negative thoughts into questions like “how could this work for me?” She provides real-life examples to demonstrate that acquiring businesses is possible even without cash.

D. The Get Rich Tripod

The concept of the “Get Rich Tripod” is central to Sanchez’s argument. She explains how money, experience, and sweat can be leveraged to acquire businesses. Through examples like Sweat Equity deals, she illustrates how these three aspects can be used effectively.

E. Impact on Community

Beyond individual wealth creation, Sanchez emphasizes the positive impact that small businesses can have on the community. She highlights issues like unemployment and the importance of small businesses in solving these problems.

Lessons Learned

  1. Small Businesses Matter: Investing in small businesses is not just a path to wealth but a way to preserve community values and solve societal problems.
  2. Recession Presents Opportunities: Economic downturns can be a golden opportunity for acquiring businesses and building wealth.
  3. Mindset is Key: Overcoming limiting beliefs and adopting a positive mindset is essential for success in business acquisition.
  4. Leverage What You Have: Whether it’s money, experience, or sweat, leveraging what you have can lead to successful business acquisitions.

Final Thoughts

Codie Sanchez’s video is a compelling call to action for individuals to invest in small businesses. Through detailed insights and real-life examples, she provides a roadmap for acquiring businesses and building wealth. More than just a guide to financial success, the video emphasizes the importance of small businesses in the community and the role they play in shaping society. It’s a timely and relevant message that resonates in today’s economic landscape, offering both hope and guidance for those willing to take the plunge into business ownership.

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