Today, Contrarian Thinking is a thing, 100ks in our ecosystem, profitable, 7 figure ARR...

But a year ago as I told my PE firm I was leaving to do a "lil blog," they thought I was #1 joking then #2 dumb...

Leaving finance was scary.

Here's how I stopped losing sleep & jumped:
#1 I started building while still w/ a "paycheck"

Even as a partner and someone who had built before, NEVER had I had such a public potential flop if I failed.

Building in public real-time scared me to death.

I hedged my bets -> paycheck until profits.
#2 Make losses wins

I said in my head what if this fails miserably (aka no $, no readers) how could it still be a win?

Answers:
- learn to write better.
- meet 10 new investors.
- learn a new asset class & $.

Make even ur losses a potential win.
#3 I do NOT like risk, so hedge it.

I'm a scaredy cat that has NEVER left a job w/o another lined up.

I'm always positive I'm going to be homeless, jobless, & broke. Its silly but true.

SO - take small risks.

1) small free newsletter costs $0

small -> scale
#4 My FU fund.

I once worked a job where 3 out of 4 of my coworkers were on Xanax, and gained 20lbs.

We were miserable. But I "couldn't" quit. I had a lifestyle.

I heard about an FU fund, save until u can tell anyone to go f off and leave.

That changed my life.
#5 Tell people it might not work.

I told my partners at every firm I left I was pretty sure I was going to fail, so keep my seat warm in case I needed it.

I told them I HAD to try, but it may crash.

False humility. But then I knew if I burned I could come back.
#6 This is woo woo

But every single day I meditate. I used to think that was for smelly hippies and flat brim feather adorned hat wearers.

Turns out, nothing turns past fear like silence.
#7 Say f it

Eventually, though, you just have to do the thing.

My biggest regret in life is that I waited so long.

Just do the damn thing.
In sum:
1) Build w/ a paycheck
2) Make losses wins
3) Learn to hedge risks
4) Get an FU Fund
5) Backup plans
6) Breath b*tches
7) JDTDT

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More from @Codie_Sanchez

18 Nov
An opportunity for 113% - 304% Cash-on-Cash return on someone else’s real estate?

A thread on how @barrettjoneill is using mobile container storage to ‘park’ cash… (get it 😂)
Mobile container storage = kinda sexy biz.

Lots of people have made storage interesting ( aka bud @sweatystartup ) but hat about storage that moves...
@OnDemandSt0rage containers are 16’ x 8’ x 8’ constructed of steel and fiberglass

They're like Pods except you can own individual storage containers and a route or area, instead of having to start the whole business yourself.
Read 7 tweets
15 Nov
Want to get into bed? (wink)

Mattress markets take it easy bud.

Love these margins: you give me $3k, I spend $300 to create, and pocket $2700.

A boring biz 🧵
Bought a bunch of new beds for my house.

Got pissed at the difference in cost. $3k for Tempurpedic. $300 for in a box.

Went down to Amigos furniture to see what's up.
I mean why are mattress stores on every corner, they're like pawn shops.

And I KNOW those pay well.

So my homie at Amigos broke down the boring biz for me.
Read 7 tweets
12 Nov
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.
Read 9 tweets
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

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