I spent the week with two former CIA agents.

They blew my mind.

Here’s what I learned that everyone should know:
“I always regretted saying too much, I rarely regretted saying too little.”

Allow mystery to make you look smarter than you seem.

The chatty ones often lose.
“White zone is dangerous, stay in yellow."

The white zone = you walking w/ a podcast on, not paying attention, being on autopilot.

Nothing more dangerous than not paying attention. In life, deals and being sneaky.

Details = devils.
“Baseline vs deviation - always look for what is normal and then what is different.”

She knows all cars that are supposed to be on her street, her neighbors patterns. Why? Then spotting an abnormality is easy.

In dealmaking you can’t know a good deal until you know a bad one.
"Trust evolution - trust the multi-generational gut that has been built."

When she gets spooked, she leaves. When it feels wrong, they skip the drop. Gut > need.

Too often we know someone is not a fit but we hire or partner anyway.
"Choose the time and place of your engagement."

When I do a deal, I almost always do it on my schedule, in a place I know, where I'll be comfortable, after I've done a workout, and never after eating.

Place is a power play.
"Get off the x"

She plays this game with her kids, in a weird situation what do you do? Get off the x, the kids shout.

That means always moving, never expected, and learn to run not freeze.

Turns out freezing and inactivity is our default mechanism.
TLDR:

Hire ex-CIA people. Everything in life is looking for echoes, rhymes, reasons, they are the pros at it.

Also - find friends from different walks, you just may learn something.
If you like this you’ll love the full article next week…

I write ways to think like a contrarian weekly here:
getrevue.co/profile/codie_…

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More from @Codie_Sanchez

8 Nov
It all started with a phone call from my friend @Mike_Dillard.

He said, “Hey Codie, just bought a big RV. I’ve called 10 places in Austin and I can’t get space to put the mfing thing anywhere?!”

That one phone call led to a hunt for RV storage spaces.
My spidey senses went off.

Is there an opportunity in them there parking stalls?

The secret to investing is one equation:

Demand > Supply = Opportunity

Opportunity is all around. People don’t want us to realize that today, but there has NEVER been a better time to be alive.
Here's why it's a great industry to buy in:

It's very fragmented (no big Blackrock’s bulk buying)

RV parks are similar to self-storage industry 25 years ago; it’s early and not overbuilt

42 million people camp yearly

Demand WAY higher than supply
Read 9 tweets
27 Oct
You can learn a lot in college

But not many schools teach you how to run and grow a profitable, boring business

Here's 6 courses I'd tetach if I was in charge:
#1 Numbers But No Calculus

Accounting, Snooze I know. But learn 3 things:
- P&L (profit and loss) - how to read it & what's important
- forward looking projections (how to model out what cash & costs could be)
- taxes - if you know how they work you can save millions
#2 People over everything

Hiring,
- how to do it
- how not to suck at it
- how to get people to come buy into your dream
- better yet how to get your people to bring friends along

*Sample of one workflow to hire admin we do.
Read 8 tweets
25 Oct
I get DM's from investors with one main problem.

Here's a list of public places to buy businesses…
1 - @Flippa

The largest marketplace for online businesses.
Personally they’re my bet on who will win in the biz buy sell marketplace category.

Lots to comb through, lots to due dili but similar to MLS.
2. @BizBuySell

Largest platform for brick and mortar businesses.

Hell to get financials and details from a wide array of brokers but great reports and widest offering
Read 11 tweets
24 Oct
🚨 AMA: buying or selling businesses, investing, turning liabilities into assets.

Drop your qs for me and I’ll turn them into a thread of responses.
#1 IRL or Online Bizs Best?

I buy in real life brick and mortar boring businesses for immediate cashflow because I don’t want to build them.

Then I build online businesses because I find it fun.

9x out of 10 before I build something I ask myself, can I buy it instead?
#2 What if your biz operator or seller gets lazy after acquisition?

The seller will. Don’t keep them in the business long term if you’re a majority owner.

Show me your incentives and I’ll tell you your future. They were ready to sell meaning they’re ready to slow.
Read 6 tweets
21 Oct
In August of 2008 I was a college grad.

No job.
Didn't want to be a journalist anymore.
No money.

I knew NOTHING about $ or investing.

I even called a 401k a 4-zero-1-kay. *Still reasonable in my mind*

Lessons learned to 8 figures & being my own boss... ImageImage
First *It Doesn't Matter Where You Start

My family had lil $.

Investing? What's that.

My mom = special ed teacher for 30 years.

My dad street smart (successful now) but the hard toiling way, no college.

We thought a motel by the beach was the Ritz (I still kinda do).
Second *Fancy colleges aren't necessary

I went to ASU for undergrad. Yes, Arizona Sun Devils.

Read: a party school w/ classes I took like intro to Elvis. I swear to God real class.

Lord help me if anyone finds photos from college. I fully leaned into the ahem "experience." Image
Read 12 tweets
19 Oct
*2nd order thinking* framework that'll change your life:

The smartest people use 2nd & 3rd order affects to make decisions.

Every action has a consequence, each consequence has another.

A thread on a framework used by billionaires to see into the future:
@howardmarks - Billionaire
Warren Buffet - Billionaire
@RayDalio - Billionaire

All credit 2nd and 3rd order affects with much of their success. Image
What is it?

First order thinking you consider the intended and obvious implications of a business decision or policy change.

Second order thinking is tracing down and unraveling the implications of those first-order impacts.

Aka few do this... Image
Read 15 tweets

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