Codie Sanchez started as a journalist covering challenging topics like human trafficking at the US-Mexico border. This exposed her to intense hardship and made her want to understand the power of money. She pivoted into finance, working at places like Vanguard and Goldman Sachs.
At Vanguard, Codie realized corporate politics were not for her. She wanted a meritocracy where talent and effort were rewarded. At Goldman she learned the value of resilience by working intense hours. But she knew she eventually wanted to go independent.
Codie left Goldman to start her own private equity firm focused on performance. She built it for 5 years before stepping back to focus on a new business called Contrarian Thinking. Here she buys and operates "boring" small businesses like laundromats all around the US and shares about them online.
Codie Sanchez is an entrepreneur and investor who went from journalism to finance and now buys small businesses.
Non-Linear Career Paths: Trying many different things early on helps build a unique skillset for later opportunities.
For an average entrepreneur, Codie thinks we shouldn't expect a linear career path. Trying many different things early on helps you build a unique skill set that creates opportunities only you can capitalize on later. Be open to exploring. She tried journalism, finance, corporate jobs, starting a firm, and now running a small business.
Gaining Skills at a Corporation Work at a corporation first to gain skills before going independent.
For an ambitious professional, Codie suggests spending time working at a corporation first. You can gain valuable skills, training, and licenses without taking on debt or risk. Use it to build resilience before going independent. She worked at Vanguard and Goldman Sachs early in her career.
The Power of Relationships: Relationships and access often matter more than money itself.
For a businessperson, Codie believes relationships and access often matter more than money itself. Provide value freely without expecting anything in return. This builds trust and unlocks opportunities down the road.
Balancing Struggle and Happiness: Periodically struggle but balance with nurturing yourself.
For fulfillment, Codie thinks periods of struggle are important but balance them with nurturing relationships and yourself. True happiness comes from the journey, not just the destination.
Charging for Value Paying makes you value things more but provide free value too.
For a creator, she believes paying for education makes you value it more and follow through. But also provide free value to build an audience and relationships. Find a balance.
Earning Over Investing Increase earning ability before investing small sums.
For a young person, Codie suggests increasing your earning ability first before investing small sums. Money makes more money. Invest in improving your skills and increasing your income first.
Owning Income-Generating Assets Assets aligned to your interests provide more cashflow.
For an investor, she recommends owning assets aligned with your interests, as it provides more cashflow than trading/speculation. Look into buying small businesses or income-generating assets.
Expanding Your Thinking Believe you're capable of more and surround yourself with others who think big.
For anyone, Codie says to believe you're capable of more than you think. Surround yourself with people that expand your thinking, not limit it. Expand your self-image.
If you want more unconventional yet tactical advice like this, be sure to check out the full episode with Codie!
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