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WHAT IT’S REALLY ABOUT
Codie Sanchez on Thinking Bigger, Buying Businesses and Controlling Deal Terms
- Codie Sanchez argues that women hold themselves back through negative stories and by building small lifestyle businesses, and that aiming for a much bigger business is often easier than aiming for a modest one.
- She says due diligence comes down to whether the numbers are real and whether they will continue, and she lists first-deal rules: the business is over five years old, profitable from day one, uses leverage, is simple, and holds her curiosity.
- She explains that terms control the price, using a $100 million offer paid at $1 a day to show why pros obsess over terms while amateurs obsess over price.
- She tells of a cannabis investment hit by fraud and says it led her to require no personal ties among the founder, bank and accountants, to invest in tranches tied to milestones, and to keep daily financial oversight.
- She says it is easier to earn than to save, and she recommends learning deal-making and financial literacy, starting with a book, then a course, then a community of people focused on making money.
IDEAS WORTH REMEMBERING
5 ideasFocus on what you can control
Sanchez says history and past inequities are real but can't be changed, so women should focus on their own thinking and on how big a business they aim to build.
Aim for 10X rather than 2X
She argues that trying to build something really big will at least land you in a lifestyle business, while aiming only for a lifestyle business can leave you with a job or too little income.
Buy proven cash flow, not hopes and dreams
Her due diligence boils down to whether the numbers are real and whether they will continue, and she prefers predictable, enduring, profitable businesses such as laundromats.
Terms control the price
Her $100 million-at-$1-a-day example shows that a headline price means little without the payment terms, so skilled dealmakers can shape almost any deal by controlling terms.
Protect your ability to persevere
She expects things to go wrong in a first deal and wants none of them to be fatal, so she avoids connected parties, invests in milestone-based tranches, and keeps daily bank access.
WORDS WORTH SAVING
5 quotesI think that 10X is often easier than 2X, that actually if you try to build a really big business, you are gonna bumblefuck your way at least into a lifestyle business.
— Codie Sanchez
Terms control the price. Pros obsess on terms, amateurs obsess on price.
— Codie Sanchez
You can only save your way to zero.
— Codie Sanchez
Spend 30 days becoming so obsessed with deal making and financial literacy and doing business deals that you set up the next 30 years.
— Codie Sanchez
We don't buy hopes and dreams. We buy realities and cashflow.
— Codie Sanchez
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SPEAKERS
Codie Sanchez
hostEntrepreneur and investor known for teaching small business acquisitions and cash-flow investing through BigDeal.
High quality AI-generated summary created from speaker-labeled transcript.
