Codie Sanchez 💥 Profile picture
Founder Contrarian Thinking | Own a Bunch of Boring Biz's | Investing in SMB Tech Cos I Newsletter to 100k+
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Jun 29 9 tweets 3 min read
This weekly process helped me grow multiple businesses to $10M then $50M+ in revenue:

Here’s the framework: There are three things that your team needs to be aware of in order to keep moving the business forward:

• Why we do what we do
• What work actually matters
• What the next step is in front of them
Jun 27 13 tweets 3 min read
I used to be terrible at delegating.

Over time, I got better thanks to one simple framework.

It increased my sanity & earnings by 10x.

I hope it helps you too: I call it the $100-1000 hour rule.
It has 3 parts you segment your tasks into:
- Revenue vs non-revenue
- High cost vs low cost
- Love vs hate

Here's how that goes...
Jun 22 26 tweets 6 min read
Everyone wants to make money or be an investor...

But most people don't speak the language of investing.

Here are 16 terms every VC knows but most investors don't: We in finance like to make ourselves look smart by using acronyms and big words. Let's break the key terms in venture capital...
Jun 21 4 tweets 1 min read
What boring business should you buy or start?

Here's my framework (SOWS) + a list of 130+ businesses I like.

Want the breakdown & guide? Like & reply 🔥 below and it'll DM you the link. Quick overview: When do you know if a business may be the right one to buy and innovate on?

SOWS

(Stale) = minimal innovation

(Old) = longstanding business

(Weak) = poor competition

(Simple) = simple but needed business model
Jun 15 15 tweets 5 min read
People ask how I’m productive enough to run multiple companies.

The secret: DO LESS.

Time is such an easy thing to waste...

Here’s the three steps I apply to save 20-30 hours each week. The first little secret to learn is to get over the title of CEO.

How do you own your business instead of it owning you?

Let your specialists run the show. How?
Jun 13 10 tweets 2 min read
The last 24 months I've done more deals than ever:

$30 million in port co revenue, raised $12m in capital, and $10 million+ of our own money + strategic debt. Most we haven't deployed yet...

Now we run a media company, VC fund & hold co w/ a team of 21.

What I've learned: First of all, we're a small fish. On purpose.

I am not motivated by saying I have XXX billion under AUM, I've already played that game and it's HARD to invest that with a high return.

We are small by design.
Jun 8 15 tweets 4 min read
50% of startup stock options eventually become worthless.

Here’s what you should ask for while working at a VC backed startup: Bet on yourself sure, but not without protecting yourself.

Infinity stock shares times zero is still $0.

For all those who raised at wild valuations many are now upside down as highlighted by my friend Xavier.

Jun 7 12 tweets 3 min read
Do you want to own an airbnb that cashflows?

Me too, so I invested in this co that allows investors to own fractional shares of vacation rentals at $100+.

It's called Here.co, and this is how it works: I own multiple Airbnb's - they are hugely lucrative... but they're also a lot of work & require a chunk of money..

Jun 6 11 tweets 3 min read
If you don't have money but want to make 5-6 figures part-time & learn: Go be a deal scout.

I've paid out over $200k in carry or finders fees for deals to normal humans with no real finance, VC or PE experience.

Here's how it works:
Jun 5 8 tweets 7 min read
Professional athletes are becoming billionaires.

But up to 94% of that net worth comes from off the court earnings.

Here are how their incomes break down: Michael Jordan - 6X NBA Champ

Net Worth: $1.7 Billion

On Court Earnings: ~$94 Million

~94% of wealth made from ancillary investments such as:

• The Jordan Brand
• The Charlotte Hornets
May 30 16 tweets 3 min read
13 contrarian views that changed how I see the world (and got me to my first $10 million): 1. Don't make decisions out of fear

Yes, you could fail.
Yes, people will talk about you.
Yes, it'll be hard.

But when my bro for instance got let go I told him it was the best gift he could ask for... the worst outcome is you die underutilized.
May 27 7 tweets 2 min read
How to buy businesses for the least amount of money possible.

Aka low or zero cost business acquisition strategies.

If you want to prepare for a downturn and pick up cheap assets here's how: 60% of businesses closed their doors forever during the pandemic.
90% of startups fail.
50% of businesses fail within five years.

I've always thought it's a tragedy that any business closes it's doors for $0, there are always some assets to repurpose.

Let's brainstorm...
May 25 7 tweets 2 min read
People say you can't buy businesses for less than their profit or for 1-2x their profit.

Here are just 2 business that prove them wrong. Why would anyone sell you that biz for so cheap Codie??

IDK, bankruptcy, divorce, cancer, cash needs, over running it, hasn't sold for long time, don't want to list publicly, they like me...

There are literally 4801384212398123 reasons.
May 24 16 tweets 3 min read
You only need to know 3 things to understand finance.

I could have saved myself:
- 2 years for my MBA
- $160,000 to pay for it
- 7 years at Goldman

If I just learned to read these 3 financial statements: Want to know if a business is a winner to invest in, buy or build?

Read & understand:
• Income Statement: Revenue - Expenses = Profit
• Balance Sheet: Assets = Liabilities + Equity
• Statement of Cashflows (SCF): Starting Cash +/- Cash made/spent that period = Ending Cash
May 21 12 tweets 4 min read
How do you make money even in a recession?

The BRRT Method... This is my philosophy to grow your cashflow and assets despite what is happening in the world around us.

I'm calling it the BRRT Method.
May 20 9 tweets 2 min read
Six businesses you should avoid investing or starting in a recession: During tough economic times, everything changes.

It's not enough to be a level 10 operator.
You have to pick level 10 games to play.

The wrong focus, the wrong business, in a down market can kill you.
May 19 9 tweets 2 min read
My friend Kenworth bought his first RV park for $400k.

He almost lost all his money, but ended up with a nice annual profit: Deal terms:

= $400k, 10% down (using his local bank he'd used for years)
= $15k/month in cashflow
= Property value ads took it to $175k a year in profit

He closed in 2017. The market is MUCH different now. BUT - that may change given what's ahead... so read on to prepare:
May 18 17 tweets 7 min read
My friend took a company to $100Million in revenue and profitability w/o VC funding.

I sat with him to learn how to do the same; here's what he told me: I didn't tell @aymanalabdul about this. 😅

But he's brilliant and took Appsumo from $1M to $100M.
His ideas when we met led me to 3x our sales.

My key to success is getting in the right room, with the right people, and asking the right questions.

How to hit $100M...
May 17 7 tweets 3 min read
@MattressMack is worth $300Million from selling... mattresses.

He just made a $4,000,000 bet on the Astros to win that could net him $42,000,000.

BUT, he started out with only $5,000 to his name.

@MattressMack The richest people I know often do the most boring things. It's a reminder that serving your neighbors is JUST as important as changing the world.

Like Jim McIngvale.

Jim launched Gallery Furniture (a low end furniture company) from his pickup truck in 1981 with $5,000.
May 16 8 tweets 3 min read
Want to own a ranch but have other people pay for it?

Me too.

So I harassed @thesamparr about his new $1.7M Airbnb and how he hacked his first $20k in 10 days. @thesamparr He bought his ranch ~60 days ago for $1.7M.
Named it.
Branded it.
Websited it.
Made $20k in 10 days.
Next looking to build $100M in airbnb assets.

Couple things I learned from him.
May 15 4 tweets 1 min read
The fastest way to your first 1 million? Buying your profits.

But how? How do you buy a business as a newbie?

Learn about boring biz's
Connect w/ local owners
Understand SBA loans & seller financing
Apply these three concepts.

On what types of businesses?