The Ultimate Guide to Buying and Running Boring Businesses with Codie Sanchez
James AltucherNovember 21, 202301:21:15

The Ultimate Guide to Buying and Running Boring Businesses with Codie Sanchez

In this engaging double-feature on The James Altucher Show, we're joined by small business investor, Cody Sanchez. In the first segment, Cody discusses buying existing businesses, with a focus on 'boring' but healthy businesses, like laundromats and mobile home parks, which can ultimately generate massive wealth. The conversation also covers strategies to de-risk businesses, quickly respond to customers, and metrics to consider when buying a business. In the second segment, Cody shares her unique journey in the finance sector, closing her hedge fund and focusing on sharing realistic financial advice. She emphasizes community-building, and skill diversification and even touches upon personal life lessons including relationship advice and how to manage emails efficiently.

00:00 Introduction to Business Buying
00:45 The James Altucher Show Begins
00:56 Discussion on Current Locations and Cities
01:43 The Downside of Big Cities
02:56 The Singapore Discussion
03:52 The Importance of Buying Healthy and Boring Businesses
04:55 The Art of Buying a Business
07:46 The Risks of Business Partnerships
08:33 Cody's Business Origin Story
10:27 The Power of Buying Existing Businesses
12:30 The Potential of Car Wash Businesses
29:31 The Appeal of Mobile Home Parks and RV Parks
32:22 The Strategy of Building Ancillary Businesses
41:18 Stealing Strategies from Amazon
41:41 Amazon's Acquisition Strategy
43:00 Risks in Buying Businesses
43:25 Experiences with Fraud in Business
43:38 Government Regulation and Business Risks
44:00 Investing in the Cannabis Industry
45:38 Risks in Service Businesses
45:51 The Importance of Due Diligence in Business
46:02 The Impact of Debt in Business
47:03 Risks in Business: Time and Money
47:23 The Process of Buying a Business
47:27 Finding Businesses to Buy
47:55 Personal P&L Review Strategy
52:05 The Importance of Investing in Yourself
59:25 The Importance of Community in Wellbeing
01:13:39 The Role of Media in Business
01:15:13 The Power of Attention in Business
01:15:32 The Impact of Kardashians on Society
01:18:41 The Importance of Responding to Emails

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