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Lewis HowesLewis Howes

They're About To Reset the Rules of Wealth — Your Last Chance To Get Ahead Is Now | Codie Sanchez

🔔 Subscribe for more great content: https://www.youtube.com/lewishowes ▶️ Recommended for you: https://youtu.be/cKwykBHgNio What if the grind you think makes you successful is the very thing keeping you broke and exhausted? Codie Sanchez, a former Goldman Sachs employee who has run 1,621 businesses through her company’s systems, sat down with Lewis to talk about money, freedom, and why most entrepreneurs across the US earn less than California’s $78,000 minimum wage. Her book Own or Be Owned is built on one uncomfortable question: do you own a business, or does it own you? She tells the story of walking into a bank for a loan and finding the account she thought held a million dollars almost empty. That night she sat in the dark and called her dad, who told her you are not really in the game until you have had a night like that. She never ran a business without systems again. The fixes she shares are simpler than you expect. Most businesses are underpriced by 30 to 300 percent, fewer than a third have recurring revenue, and hard work has almost nothing to do with how much money you make. She also explains why more than 80 percent of kids want nothing to do with their parents’ business. You will finish this one ready to raise your prices and build a life where work fits around the people you love. Own or Be Owned: Build a Business So Good It Doesn't Need You https://amzn.to/4gMh7Sb Main Street Millionaire: How to Make Extraordinary Wealth Buying Ordinary Businesses https://amzn.to/4xEEGno Codie's Instagram https://www.instagram.com/codiesanchez/ Codie's YouTube @CodieSanchezCT Big Deal Podcast @PodcastBigDeal Codie's Website https://contrarianthinking.com/ Listen to this episode on the go! 🍎 Apple Podcasts: https://podcasts.apple.com/us/podcast/the-school-of-greatness/id596047499 🟢 Spotify: https://open.spotify.com/show/07GQhOZboEZOE1ysnFLipT?si=a03d916bade54d4f For more info about this episode, go to https://lewishowes.com/1983 💰 get my NEW YORK TIMES BESTSELLING book "Make Money Easy" today!https://lewishowes.com/moneyyou 📙 get my NEW YORK TIMES BESTSELLING book "The Greatness Mindset" today! https://lewishowes.com/gmyo 📤 sign up for my FREE newsletter https://lewishowes.com/greatnessdelivered Follow Lewis! Instagram: https://www.instagram.com/lewishowes/ Tiktok: https://www.tiktok.com/@lewis Facebook: https://www.facebook.com/lewishowes/ Twitter: https://twitter.com/LewisHowes 💻 Website: http://lewishowes.com/ 📲 For more Greatness text PODCAST to +1 (614) 350-3960 Get More Greatness! Greatness Clips: https://www.youtube.com/@GreatnessClips Spanish: https://www.youtube.com/@LewisHowesEspañol Portuguese: https://www.youtube.com/@LewisHowesPortugues Lewis Howes Shorts: https://www.youtube.com/@lewishowesshorts 00:00 The Grind Myth 04:18 Why Entrepreneurs Go Broke 07:12 Rethinking Time & Money 14:07 Builders vs. Takers 17:34 3 Millionaire Mindshifts 25:40 The New American Dream 29:00 The Billionaire Playbook 33:28 3 Steps to More Profit 40:03 The Owner Mindset 45:11 Hitting Rock Bottom 50:15 Asset vs. Expensive Job 52:02 Finding Hidden Money 56:45 Business Builder Archetypes 01:04:20 Buy Boring Businesses 01:09:03 Codie's True Legacy Put ChatGPT to work on your most ambitious ideas and projects. WaldenU.edu #greatness #inspiration #motivation

Codie SanchezguestLewis Howeshost
Sep 21, 20261h 13mWatch on YouTube ↗

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At a glance

WHAT IT’S REALLY ABOUT

Codie Sanchez on builder mindsets, profit systems, and boring wealth

  1. Codie Sanchez argues that entrepreneurship doesn’t have to require misery, and that people should stop copying business advice from creators whose lifestyles they don’t actually want.
  2. She says many entrepreneurs earn less than expected because they prioritize revenue over profit, pay themselves last, and fail to optimize pricing and business fundamentals.
  3. She frames financial progress as moving from a “taker” mentality to a “builder” mentality, emphasizing ownership, leverage, and better internal narratives rather than just working harder.
  4. She describes millionaire-building as a sequence of belief, self-knowledge (including one’s working archetype), and aligning with what the market is willing to pay for.
  5. She claims the most repeatable path to scale is boring execution: systemize operations, improve terms and pricing, focus on higher-value customers, and build recurring revenue while reducing key-person risk.

IDEAS WORTH REMEMBERING

5 ideas

Reject the “grind to misery” narrative and design work around a life you want.

She argues that many loud internet business voices normalize misery as proof of effort, but you can choose a life you like and fit work into it rather than the other way around.

Profit—not revenue—is the core problem behind why many entrepreneurs earn surprisingly little.

She says most businesses aren’t optimized for profit because entrepreneurs chase top-line revenue, pay themselves last, and don’t treat profit as the priority metric.

A builder mindset is foundational to escaping paycheck-to-paycheck thinking.

She frames a key divide as “builders” (who believe they can create value) versus “takers” (who believe they must take what others built), and claims money tends to flow toward the former.

Money follows belief + skill validation + consistent application.

She lists three components: belief you can make money, evidence via a valuable skillset, and applying that skillset; without belief, it’s hard to commit to building and using the skills.

The “real” path to outsized wealth is boring consistency with proven systems and leverage.

She says wealthy outcomes often come from a few key decisions and repeatable systems, not genius or nonstop grinding; many people fail by chasing new shiny opportunities instead of sticking with proven playbooks.

WORDS WORTH SAVING

5 quotes

I’m not saying that you don’t have to work hard. I’m saying you could actually choose a life that you like and fit work into it, and I actually think that’s possible.

— Codie Sanchez

A chip on your shoulder can be just as much fuel as a purpose or a mission. It’s just not as efficient fuel for a long time, and it’s corrosive.

— Codie Sanchez

Eventually you figure out who are you proving yourself to, and you wake up one morning and your, you know, wife doesn’t wanna talk to you the same that she used to, and your kids don’t recognize you, and your business has some sort of downfall. And you realize that you loved things that could never love you back.

— Codie Sanchez

Money is just a byproduct of skill plus output.

— Codie Sanchez

If hard work was gonna make you really rich, my roofers and plumbers would make way more money than I do. But they don’t.

— Codie Sanchez

The grind myth and designing life firstEntrepreneur income reality and profit vs. revenueBuilders vs. takers mindsetBelief, identity, and market demandSystems, leverage, and “stealing homework”Pricing, rich personas, and recurring revenueKey-person risk, tracking, and P&L as source of truth

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