How Codie Sanchez Built a $50 Million Portfolio of Boring Businesses, and the #1 Skill to Learn in a Recession

Episode 8: Today, host Alex Lieberman (@businessbarista) is flying solo for a very special episode of The Crazy Ones featuring founder and private equity investor Codie Sanchez (@codie_sanchez). Codie has made millions from buying boring businesses (think laundromats, carwashes, and AirBnBs), and has also amassed an audience of over 3 million followers with her media company, Contrarian Thinking. Listen to hear Codie tell Alex about how to determine which boring businesses are actually worth investing in, how to hire good operators, and the art of deal structuring and negotiation.

#TheCrazyOnes #Startups #Entrepreneur

Listen to The Crazy Ones here: https://link.chtbl.com/OV4W93_W

Subscribe to Morning Brew!

Sign up for free today: https://bit.ly/morningbrewyt

Follow The Brew!

Instagram - https://www.instagram.com/morningbrew/

Twitter - https://twitter.com/MorningBrew

Tik Tok - https://www.tiktok.com/@morningbrew

Follow Our Hosts!

Alex Lieberman (@businessbarista)

Sophia Amoruso (@sophiaamoruso)

Jesse Pujji (@jspujji)

00:44 - Intro

01:40 - The Rundown

03:13 - How Codie got to where she is today

06:08 - The first boring business Codie bought

10:30 - What lessons Codie has learned around deal-structuring and negotiation

18:09 - The best negotiations Codie has ever done

21:45 - What makes a great operator for your boring business

23:52 - How Codie scares away a bad hire

26:05 - What boring businesses are catching Codie’s eye right now

33:22 - Why Codie is fascinated with Reese Witherspoon’s business model

36:59 - Why Codie decided to dive deep into content creation

46:10 - How Codie’s boring businesses compare with her media business

48:15 - What Codie has learned about leadership

50:38 - Codie’s hot takes and spiky opinions

Links:

Contrarian Thinking Newsletter

Codie Sanchez YouTube Channel

Learn more about your ad choices. Visit megaphone.fm/adchoices