Millionaire Explains How To Get Rich During A Recession | Codie Sanchez
Codie Sanchez is an entrepreneur, investor, & founder of “Contrarian Thinking”. In this conversation, Codie gives us all of the alternative ways you can make millions of dollars. Some of these strategies involve buying “boring businesses”, which can bring in large amounts of cashflow. We also discuss how young people can win during this recession, various business ideas, how to make money if you have no money, and tips on how to get paid more at your job.
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Pomp writes a daily letter to over 200,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/
View open jobs in crypto: https://pompcryptojobs.com/
Enroll in my crypto academy: https://www.thecryptoacademy.io/
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TIMESTAMPS:
0:00 – On This Episode…
0:30 – Economy In Collapse – How To Make Money
2:00 – Crime Scene Clean Up Company
4:00 – Ice Vending Business
8:30 – Analogue vs. Software Companies – Finding Software Companies
10:30 – Building The Knowledge For Pricing Services
12:15 – How Codie Buys & Fixes Up A Zombie Company
15:15 – How To Negotiate With These Boring Businesses
16:40 – Red Flags When Looking For Businesses
18:15 – Businesses With Small Teams
20:45 – Gas Stations – Make More Money From Convenient Store
24:00 – Young People Buying Old Businesses
25:45 – BUSINESS IDEAS
26:00 – Coffee Shops – Pomp’s Ideas – How Codie Analyzes This Idea
29:00 – Professional Photographers
31:00 – Dogs Are Bigger Business Than Kids
33:00 – Riches In Niches – Specialization Is The Game
34:45 – Codies’s Content Creation – Everyone Will Be A Content Creator
38:00 – Mr. Beast’s Media Company Turned Into Private Equity Firm
40:00 – Kim Kardashian
41:30 – Elon Musk Brings Sink Into Twitter – Have Fun Building
44:00 – Being Stuck & Hating Your Job
52:45 – Get Revenue Shares & Equity At Your Job
57:15 – Be Specific In Your Requests – How Will You Improve The Company?
1:01:30 – Lean How To Negotiate
1:03:15 – HOW TO MAKE MONEY IF YOU HAVE NO MONEY
1:04:45 – Acquisitions
1:07:30 – Email Is Still Underrated
1:09:30 – Network Effects – Analyzing The Creator Economy
1:13:15 – Build Beyond Your Name & Content – Build Infrastructure
1:16:30 – The Work Ethic It Takes To Win – How Pomp Does It
1:19:45 – How Technology Made The Creators
1:21:30 – Where To Find Online