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Own the Outcome with Tyler Deveraux
Own the Outcome dives deep into the real stories of resilience and triumph that arise from the depths of failure. Join Tyler Deveraux on a journey of inspiration, growth, and authentic conversation. Within every stumble lies a valuable lesson, a chance for transformation, and a path towards success. Each episode features compelling stories from a diverse range of guests, from entrepreneurs and artists to everyday heroes—all sharing one thing in common: their ability to turn adversity into an opportunity for growth. Because in the end, it's not about avoiding failure; it's about owning the outcome.
Own the Outcome with Tyler Deveraux
Main Street Millionaire with Codie Sanchez
Discover the journey of Codie Sanchez, a force in the business acquisition arena, as she shares her eye-opening shift from Wall Street to owning a laundromat, to where she's at now.
Codie's story is one of dissatisfaction with the corporate grind and a hunger for tangible growth—providing a refreshing perspective on buying existing businesses instead of starting new. Get ready to uncover how aligning your skills, passions, and networks can lead to finding the perfect business opportunity, all through the lens of Codie's own path from corporate high-flier to successful entrepreneur.
Order Codie's Book: Main Street Millionaire
Follow Codie on Instagram
Get your Peak Partnership 2025 Ticket to hear Codie speak LIVE!
Thank you for listening to today's episode. If this podcast has brought a smile to your face or sparked some new ideas, I'd love to hear from you! Leaving a review would mean the world to me. Appreciate you!
Connect with Tyler on Instagram: @tyler_deveraux
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All right, Aloha and welcome to Own the Outcome podcast. My name is Tyler Devereaux and today, man, I have Cody Sanchez. Cody, welcome to Own the Outcome podcast.
Speaker 2:Thanks so much for having me. I'm excited to be here.
Speaker 1:I am so excited to have you here. This is something I've been looking forward to for quite a while. For those of you who don't know Cody you're one of the few on the planet who don't. Cody has blown up, man. I actually got connected with you. I definitely knew who you were, but then I got connected with you through our good friend, rory Vaden, and that's when I really started to dive in. And, man, you are such a wealth of knowledge and you're going to be at Peak Partnership, which I'm so excited about.
Speaker 2:That's amazing. Yeah, Rory's the man.
Speaker 1:Rory's such a stud, like best of the best. So I want to dive in and I want to talk about so your book is. So, first off, go buy her book. This is what we're going to be talking about today Main Street Millionaire, and it is. I had the privilege of getting this book, my hands on this book early and I was telling Cody off camera this book is unreal, like so well-written, amazing, actionable tactical strategies to go implement, which is what I look for in a book. So we're going to be talking about some of this and it launches officially on December 3rd. But go pre-order the book and by the time we get done with this, you'll want to do that if you haven't already. So I'm going to dive in, if you don't mind, to the book and maybe we just start with your first acquisition and then we kind of backtrack from there, quentin Tarantino style.
Speaker 2:I like some Tarantino. Yeah well, my first acquisition that I consider like a real one was a laundromat, and so you know it's kind of what I got well known on the internet for. I remember writing like the very first tweet about my laundromat and thinking this is such a weird tweet to write and I'm not sure anybody's going to find this interesting at all. But Twitter's weird and maybe there's like a couple other laundromat aficionados in the mix and we'll be buddies and it'll be great. And so I wrote this tweet and, as I usually do, it's usually when I'm thinking about something and I have a moment and I'm kind of distracted and I shoot it off into the ether and it kind of goes viral. I'm like, oh, that's weird, like other people also like laundromats. Okay, and that was probably God. That was years after I originally bought the thing Because, as you can imagine, you know, back when I first bought my laundromat, I was working a corporate job, I was in finance.
Speaker 2:It was kind of fancy. You know, my laundromat I was working a corporate job, I was in finance, it was kind of fancy. You know, most of my colleagues were. You know they're making millions of dollars a year. You know they're going and presenting to pensions. And you know it's, it's Wall Street, right. And so we kind of thought highly of ourselves and and I like hid this little laundromat acquisition that I did on the side, because while I was on Wall Street I hated it Like. I hated who I was, I hated, like, the institution. I looked into the future and saw my bosses and just thought, god, I don't want to be like those guys. And so I was trying to find a way out. But my lifestyle had crept up and I had expenses and I was a little scared, and so I wasn't sure how to leave finance and I didn't have a brilliant idea to do so.
Speaker 2:And so I was a little scared and so I wasn't sure how to leave finance and I didn't have a brilliant idea to do so. And so I was like, well, you know, in private equity we buy businesses. Why wouldn't I just buy some businesses for myself? And like I wanted to get my hands dirty again. You know I used to be a journalist, so you know I wanted to like, touch things and and be out in the world, not behind a desk or, you know, in a boardroom somewhere.
Speaker 2:And so I bought this little laundromat and I remember very vividly and now every time I go in a laundromat I think about the same thing. Like there's a certain smell to laundromats. When they're old the smell is like a mixture of bleach and molds and like dampness. It's not nice. And then when they're new it's like this intense, clean smell like soap, intensely soap. And so you know one of my friends at the time, who I was running the laundromat with. You know I walked in and I remember it kind of hit me in the face that that smell of mold and him being like smell that and I was like, yeah, I do. And he was like smells like money, and I was like, well, that's not exactly what I thought it was. And so that was my very first acquisition. It was very small but it was meaningful for me and it opened my eyes to this idea of what if I don't have to start a business to make money? What if I could buy somebody else's business and allow that business to profit for me?
Speaker 1:That's what I love about your book and about what you teach is it's opened my mind to a lot, because starting a business, there's a lot to it. One thing that I loved about your first acquisition is kind of what you said but you threw your shoulder into the door or something is what you said, and then you smelled the mold and you're like, what the fuck am I? What have I just done you?
Speaker 2:know, yeah Well, you know, the first time you start a business or the first time you buy a business, if you've never done it before, I can only guarantee you one thing, and that is at some point you will be like oh my God, terrible mistake, why did I do this? At moment, when you get through it is when you start becoming harder to kill. You realize, like no, it's not going to kill you, you're actually on the right path, this is exactly where you're supposed to be. But you have to have that moment. My dad calls it the head and the hands dead of the night story and the game of ownership and entrepreneurship, and it's actually. It becomes like sort of a rite of passage, I think, for people to have been in the game, trying to own something and build something in a world of people who mostly just consume.
Speaker 1:Yes, that is. I believe it's the epitome of business ownership. I also believe that it's one of the biggest motivators for me with, like, the title of the podcast, title of the podcast, own the Outcome. And so first I'm going to, I'm going to ask you this, and in the very forefront of your book you mentioned that quote of your dad and I I absolutely loved it because I just believe that you know, you say he says something like your, your head in your hands and thinking what have I done? And we've all had those moments. But somebody looks at yourself, just, you know, massively successful, just a magnetic personality. Have you had struggles? Have you had those moments? Or has it always just been like, nah, I'm so damn smart, I'm such a talented badass which you are that it just comes easy? Does it come easy or have there been struggles?
Speaker 2:No, I mean, you know I joke with my husband that we both still think we're broke. I'm not sure that ever goes away. Actually, you know, especially if you really grew up not having money at varying points of your life and if you grew up uncertain of you know, could I go out with friends this night Because I don't know if I have enough to make it through? Or, man, I have a business and it's completely running out of cash and I don't have money to keep it going and all these employees depend on me and what am I going to do? Because I'm going to have to tell them that I failed them. You know, I've had all of those moments and you know I remember like the first time I had one of those moments, actually I called my dad, who's a big source of inspiration for me when it comes to entrepreneurship, and I had a business that was going under and we had basically which happens a lot, you know we had had a finance guy. The finance guy told me everything was fine. I didn't double check his numbers and basically we were running out of cash, like we didn't have enough cash for the next two weeks cycle, and he had done some projections wrong and it was ultimately my fault. I hadn't looked into it enough. And I remember calling my dad and being like fuck, like we're out of money, I don't know what I'm going to do. And like what happens next. And he was like, well, he used to be a carpenter. So he said listen, when you're walking on a job site and you get a nail through the foot of your boot and the nail pierces the skin, you don't ask why the nail went there, you don't ask who put the nail there, you don't say why would you do this to me? Nail, you pull the motherfucking nail out, you pour some alcohol on it, you suck up the pain, you put a bandaid on it and you fix it. And then you can figure out the why, and then you can figure out the next step. But like, don't, we're not talking about all the reasons why this happened to you. We're going to talk about what are you going to do to fix it right now? And and so he had me sit down and I rattled a, wrote out a list of all the things that I could do in that moment to save the business. And he was like now shut up about the why and go do it and and so I did, and we ended up saving that business.
Speaker 2:But you know, I think there's a lot of entrepreneurs today that are like, well, I have the nail in my foot and I'm going to take a bubble bath because self-care. And what's going to happen next is, you know, I'm going to talk to all my friends about it. And I think if you're talking to more than three people about something not to get multiple data points, but just to talk about it You're bitching as a victim, not looking to become the victor. And so, thankfully, I had a tough dad multiple times who was like get it together, we got things to do.
Speaker 2:But there have been no shortage of moments in my life where I thought everything was going to go sideways. And you know, and you know the other thing is, if you're going to play this game of investing in business especially investing you're going to lose money at some point, and so that part is very scary too, until it's happened to you once or twice, and then you're like, ok, I'm not going to die, I'm not going to die. I have more data points that show me that I'm not going to die than I have data points that show me I might die.
Speaker 1:And so maybe I just need to worry about this a little bit less. What is up y'all Listen? If this podcast has brought joy or value at some point as you're listening to it, we would love it if you would be so kind as to leave us a review down below. That is how we keep this thing moving and finding individuals just like you to pour value into. Now let's get back to the show. That is so good, and I love that framework that you just laid out, which is really just solution-based. What's the solution? And you list them out and then you go full force into one. You have a decision-making process where you want to make a decision. How quick, how quick do you like to make decisions on something like that?
Speaker 2:Yeah, fast, I mean. I think winners never whine and whiners rarely win, and so the idea is to move as fast as humanly can. I think your business will always be held back by the speed of the boss, and so I remember that often, like my employees can't be moving faster than I am, because then I'm the bottleneck and then they should take over CEO position, which has certainly happened to me in other businesses. I'm like you're better than I am at this, like this is your business now, and I think your bank account is also a direct reflection typically of how fast you move, how much risk you take, how much you iterate when you've learned something new, and to how many great people you can attract. And so speed seems to be so correlated to money and winning.
Speaker 1:The speed. That's the differentiator right, the consistency of speed. And decisions, just decisions. So somebody's out there and they're like well, but what if it's the wrong decision? What do you say to that?
Speaker 2:Yeah, I mean, I wish you, I wish you could always have enough data points in order to know yes or no with certainty, right or wrong with certainty, but you simply won't. So what's the next best thing? Well, the next best thing is typically that you take as much action as you can to get as much feedback, which could be mistakes as possible, in order to win. For instance, we have a company called BizScout right now. It's a small business buying and selling marketplace, and I've never built a marketplace before. So that's scary for me and I don't know what I'm doing mostly. And I put a lot. I put millions of dollars in. I raised millions from my friends, and there's nothing scarier than not even just putting your money in, but like losing your friends' money Like that. Even just putting your money in, but like losing your friends money like that. That always scares me. And so, you know, today we had a decision. We're like huh, you know this, this segment, this premium segment of the marketplace, doesn't have enough features and reasons for people to stick. So people were churning off of it and I was like why is that? What do we do? And so, you know, bobby and I sat here in this meeting and we Bobby's, the CEO of the company and we went through three different ideas and here's how I like to think about it.
Speaker 2:Typically, I go okay, who already has the thing that I want? What business model can I replicate? Let's get a one pager on each of those business models so I can see how they structured it. Let me steal some homework and I'll compare the three business models side by side. Who makes the most money, who is the most similar to our business and which business do I want to run? Once I have those three business models side by side who makes the most money, who is the most similar to our business and which business do I want to run? Once I have those three business models and I always give myself time bounds, like a 24 hour rule as opposed to a one week rule then I might look at those business models and go okay, what are one to three steps I could take to test each one of those business models beyond just the data? So business model one test might be I need to go talk to 50 sellers that are located on the platform and say if you guys want to like, if we did this, would you use it? Will you swipe your credit card right now if you'd want to use this for like a discounted 50% off price. I don't even, I don't even really care about getting the money, it's just I want to see what their intention is. So maybe I'm going to go survey 20 sellers and see if I could sell them on this and then the next one it might be. Can we test like just one feature of it, as opposed to do this whole huge build out?
Speaker 2:And so this iterate, iterate, iterate is the way to win. I mean, one of my mentors and friends, bill Perkins, always says that the reason that he's so rich is that he moves faster than everybody else. By the time they've already thought about it, taken it to their group of friends to ponder it, he's done it, made three mistakes and found a better way, and so like I don't think you should be scared of failure, because unless it's going to kill you or bankrupt you, you're just going to learn. That's it. It's just a faster way to scientific theory learn. The other thing is business to me is like a science experiment. Science experiment it is basically constantly trying and trialing things and seeing what works or what doesn't, and then getting feedback in order to say this experiment worked, this one failed, and so we should be less scared in business to experiment more. Just think how could I experiment with a little bit less risk to see if I can get closer to a better outcome?
Speaker 1:I love that analogy right there of comparing it to a science project, because if you really just do that, that's literally what that is is test, test, feedback, learning, adjusting, pivoting. I love that. That's a good analogy. That's actually. You know, I have a mentor of mine who that's this thing you can't test enough. Like always be testing Always, always, always. Not a whole bunch of different variables, but you test one variable, but rapidly, quickly to get the response back First off.
Speaker 1:Everyone out there listening to this is like pulling over, wanting to take notes because they can't write quick enough. But this is why you should go get her book. Like the book is an entire book of this kind of stuff, like actionable stuff, like just even the okay, the three pagers, now take one, go interview. What would you do? That stuff is beautiful and it might seem if you've never ran a business, that might seem like not that big of a deal, but it's actually a massive deal when you get in to running the business, also just making a decision and listing it out. Get in to running the business, also just making a decision and listing it out.
Speaker 1:You know, I had a an experience where, a very similar experience, where I had to, um, make money quick, or else we were going to close the doors. And I remember my my finance guy telling me hey, we need money. If we don't get it, we may need to think about closing the doors, like that was the text. And I go, um, okay, so number one, how much money? Number two do you have any other solutions besides just closing the door by chance crickets?
Speaker 1:So on the call the next day I was like, listen, I get the problem. Okay, sweet, now let's all list out how many ways we can make money and we go from there and then guess what happens. What you focus on, you find and you find solutions. So tell me about your rich framework. I want to go through the rich framework and research Research. Number one, because you were mentioning which business I would like to do, and I know that you're talking about a current business, that you're now looking to model and improve what you have on a competitor. But when you're looking to get into a business, how do you determine, like, what business is you know, right for me?
Speaker 2:Yeah. So we have sort of a whole chapter on this idea that I wish I spent more time on when I was younger, which is you get really let's, let's say, inside of a 10 year period any 10-year period you might get like three, maybe two to three shots on goal with the game you want to play. You're going to get like two to three years of playing a game, and I don't think we focus enough on which game we're playing. We're kind of like whatever game's in front of us, and so we have a lot of memetic desire as humans. Cody bought a laundromat, I'll buy a laundromat, right. And instead of doing that, I think what we should do is we should try to figure out who we actually are and what business would be perfectly suited for us. So I call it the Goldilocks framework, but basically this idea of you know, one bowl of soups too hot, too cold, just right. And businesses are the same way, and so, if you think about it, what would be a bad business for Cody? So let's say a business is doing $50 million in revenue, it's also doing like $20 million in profit, and yet the business is a biotech engineering company located in Hamburg, germany. Is that a good business for Cody? No, I don't know anything about biotech. I don't want to even have to visit Germany, you know like, unless it's for fun. Going to Berlin, I've been to Hamburg once, I don't need to go back. Sorry, germans. And you know it's an industry where I can't add value. I don't know how to market that. I don't know what my liabilities are. That that I don't know what my liabilities are. That's a bad business. But most people will be like wait a second, it's making $50 million in revenue and $20 million in profits, but it's not aligned to me. And so what would a good business for Cody be? Well, a better business might actually be a business that's only doing a million dollars in profit, but it has a 2 million person email list and the email list is all for small business owners. Hell, that email list could be doing negative $100,000 in profit, but with a 2 million person engaged email list of business buyers and that would be perfect for me.
Speaker 2:So in the book, where I want to have people spend a lot of time that nobody talks about in acquisitions is what is the right business for you? We've all had this moment where we go what's next? What am I going to do? I'm kind of bored, I need to make money.
Speaker 2:I don't like what I do right now, and typically we jump into the thing that's right in front of us or that's the thing that we think is going to make us the most money. But instead we should be thinking about it like three overlapping circles with a mixture between passion, but really the word is obsession Like what am I obsessed with? What do I? What do I? What am I interested in, even when I don't get paid? And that might be like I love sales and growth. Some people are like I fucking love operations. Some people are like I love leadership, you know. Some people are like I love brainstorming Okay, great.
Speaker 2:And then, simultaneously, the second circle is going to be what skills do we have? What are things that people are asking you to help them with, even when you're not getting paid? So that could be like God, you're really organized. Everybody's always asking me for organizational help.
Speaker 2:And then the third is your network. Where do you have somebody who could be subject matter experts for you on a business? So let's say you're like you know what I like? Marketing. I want a local business and I want that local business to be something that I think I can market well, that's profitable, that makes money but is close by me, that is simple to understand and that I can increase the sales of the business because I'm a marketer. Okay, well then, what's my network? Well, you know, I got my uncle, tom, who used to run a landscaping company. Well, landscaping company is simple, it's local and most of them have shitty marketing. Okay, maybe, actually I want to do a landscaping business, and so we do all these different exercises in order to get people to think about what, inside of you, is already uniquely skilled for the business that's waiting for you to find it.
Speaker 1:And that's that deep internal work that actually is going to serve you so much more than just business, like that'll just serve you for a life period, like you start to learn more about yourself. That's actually, honestly, that's what Rory helped me do. That's what Rory helped me do Going through Rory's stuff with him. He asked me questions and dug things out of me that I was like, oh shit, that is actually what drives me, you know, like I'm actually not stuck in this box and that's what I just want to highlight this. Then I want to drill down to something, because you said you talk about these businesses and identifying for me, just just to give them a snapshot, you started with the laundromat and now you own how many businesses.
Speaker 2:We just did the analysis last night. We own way more than I thought. We own dozens of small businesses and we own dozens and dozens of interests in small businesses, so it's gotten big. But you know, I'm always careful about saying the exact number because I don't think that that's what it doesn't really matter Like. The interesting part is what's better.
Speaker 2:You know a dozen small businesses that are non-aligned to you, that don't make the right amount of money, or one perfect fit business, and so I think on the internet, people get really excited about the fact that I have a portfolio of small businesses and I have like what's called a holding company, similar to a private equity firm like the one that I used to be a partner at, and they think that they want to do it too. But the one thing I will say to those people is, if you own a lot of small businesses, like I do, there's always something going wrong, and so be careful what you wish for. I think the one nice part about a few bigger businesses is that those businesses don't require as much oversight. So I like to bring that up when people haven't heard my stuff before, because I really want you to focus on your one perfect fit business. And then if you realize you're a deal junkie like me and you do have this crazy idea of wanting to build a multi billion dollar company, you can do it, but I don't think that's what most people actually want. I think most people are like they don't have the trauma response of entrepreneurship.
Speaker 2:I always joke that being an entrepreneur is only for those who have massive PTSD from something else in life, and so I think a lot of people are super healthy and they want to be with their family. They wanna make a couple hundred thousand dollars a year. They want to have a business that they love. They want to be in charge, you know. They want to excel and show that they are capable and that the laboring they do is worth it, and they want to give back to their local community and have employees that they want to hang out with.
Speaker 2:And I don't want to de-minimize that because I think that got de-minimized. When you go on Twitter these days or X, and you see all these people say I run a seven figure, I run an eight figure, I run a nine figure business and you're like tallying up the math, you're like there's literally not enough of those in the country for this, and so that's not what's necessary. You can have a business that makes a couple hundred thousand dollars a year as a totally normal human, and I think that is the real unicorn business a business that you love, that is profitable, that doesn't steal your entire soul, that you don't have to work for for 10 years for like a hope and a prey to one day sell.
Speaker 1:Yes, yes, I agree, and that's not like this. My wife asked me when I told her you were coming to Peak, she said why. She's very inquisitive. She always that like so how come that one, how come this one? What's Texas for you? What sticks out to me? I remember hearing you. I went um. Actually this is where I first met you. It was very brief encounter so you probably don't even remember this, but I was in with Andrew Cordell at um, the uh aspire event in Dallas, and you pretty goodbye and and you know so I and that's what I was like, and I just heard you speak. That was the first time I'd heard you speak and that's when I was like I want to have her at peak.
Speaker 2:And so, yay, that makes me happy. Yeah, that's a cool event, Cause it's also people like you and me who are like, listen, we want to build empires, but I think there's a lot of beautiful in the everyday and on main street and I think it's. I think there's a lot of beautiful in the everyday and on Main Street and I think it's gotten a little bit of a. It's gotten like a rough credit about it and you know what the other thing is that really gets me. There's always.
Speaker 2:It's so much easier to tell you why you can't achieve something than to make you believe that you might be able to. And so all over the world are people that want to say you know your business won't work, that idea won't work, you know you can't do this. You can't buy a business. Look at all these other people that failed. So you can't do it. And I think those are very small minded people who are gatekeepers because unless they went back to becoming an employee after running their own business, unless they left and said I want to go be a nine to five or with somebody else, they're full of shit, because watch what you do, not what you say. And so I like Aspire because it's a lot of people you know, who are blue collar main street, kind of just like me, who are building and they don't get enough credit.
Speaker 1:That's exactly it and that's what stuck out to me. And you just say it how it is, you don't try to fluff, you don't try to bullshit, you don't try to. In fact, I heard you on an interview once and you talked about how, how you interview, how you interview, and you say that you you don't try to sell the job, you try to make the job sound worse than it actually is. And I is a huge takeaway for me because I'm in sales and I find myself in an interview situation selling, not even wanting to sell. But hearing you I was like I got to go the opposite approach because you'll attract the wrong people. And I just love your approach of just saying how it is. Sorry I cut you off, but yeah, just saying how it is.
Speaker 2:Yeah, you don't want to. I mean, listen, there are some people that I you don't want to make it sound like it's the worst place ever to work, but I always say something along the lines of like, here's all the things that you're going to find out after you get here, so you might as well know it anyway which is you know we work a lot, you know it's intense. We change positions and ideas and outcomes frequently. We push on each other and you know we're hard on each other, because I believe that diamonds are only created under a lot of pressure, and that's what we're trying to create here.
Speaker 2:And my other little trick for interviewing if you've never done it is if you want to figure out if somebody really wants your job or just a job. A great way to figure it out is to say hey, you know what, you're super skilled. You could fit in a couple roles at our company. We have this one that you're currently talking to you about. We have this one, which is a different skill set that you're like kind of in your head thinking, god, I think this person might be better at that. It's not the current role, and then we have this other role. They're all gonna be open, you know, frequently, but like, tell me which of which of these three is actually most attractive to you, because the worst thing you could do is put somebody into the wrong role when they are a key, you know, high player, and they will immediately out themselves Like it's almost like they can't help it.
Speaker 2:And so I've had multiple times where they're like yeah, you know what I really don't want to do sales, I really want to be in operations, but I just, you know, like I needed a job and I wanted to do the next thing, did a job and I want to do the next thing, and you're like okay, great, thank you. And then you keep them in line for operations. But a lot of times people are just looking for a thing and then there's nothing you can do for that person. If you're like man, I told you the job, I told you the company, I told you everything, and you just didn't actually want this job, but you applied for it anyway, you're setting them up for real failure and they're setting themselves up, but they don't even realize it.
Speaker 1:That's so good. That is so good. I love that. Always those little questions you can ask to like. Discover those, because you know employees and team members are amazing, but bringing in the wrong ones is not so amazing.
Speaker 1:You know, not so amazing, you know I would love to ask you about. So your, your company, one of your companies is contrarian thinking. And first off, great name. And I want to talk about a contrarian topic that may be out there that you chat about, which is multiple streams of income. Some people say multiple streams of income, no go. Other people say, dive in full force, one stream of income. What's your thoughts on that?
Speaker 2:I think let's go to the data. If you want to be wealthy, you typically want to do what wealthy people do. The truth of the matter is that there are very few less than 1%, I would say of very wealthy people who only have one way that they make money, because the number one rule to making money is don't allow yourself to get in a position where you could lose everything. You want to have this beauty of compound over time. So, as an actual investor for more than 12 years on Wall Street, I learned a lot about how wealthy people make money, not how entrepreneurs drive revenue. Money not how entrepreneurs drive revenue. Those two things are not the same. An entrepreneur will tell you non-focus kills. Don't have multiple things that you do, because historically for me that hasn't worked. Work on one thing. What I would say to them is you are not an investor. You actually do not manipulate money for a living, which is what investors do. Investors realize quite the opposite. They'll have concentrated bets, so they'll take a few big swings. They will never just take one big swing, because they realize that that sort of risk is almost impossible to cover for. And so the way I think about multiple income streams is how can you take multiple concentrated bets as closely aligned as possible? So in the book we talk about this idea of can you have your business be multiple revenue lines and so when I think about acquisitions, I'm not thinking right now go buy a laundromat, go buy a car wash, go buy a house painting business, go buy a floor painting business although we a floor painting business, although we own most of those types of businesses.
Speaker 2:When you get really sophisticated you start to think I want to buy businesses where each business is worth three to five x to me what I bought it for day one. What does that mean? It means that if I own right now a media company and I go and buy a newsletter company, I have immediate cross-pollination of audiences and I can sell them two things. So that business was probably worth 2x to me what I bought it for. I might also be able to buy a business. That is immediately a decrease in my liabilities.
Speaker 2:So if I have a company here and I buy my commercial center that my business office is out of but I have a few other renters in there, well, I've just decreased a liability, aka rent for me, and I've gotten myself some more income stream from the other renters in it. And so we take you through an exercise of how to take a business from $100,000 investment to a million dollars in revenue, and we do it with seven acquisitions. And the idea is simply to think like the really, really rich do, they align their income streams and concentrated bets, but they would never go all in on simply one bet, and that is it.
Speaker 1:That is. I mean, I fell into that trap. I absolutely fell into that trap and that's why it intrigues me when you talk about it, because about it, because focus is beautiful, right, dialed in on focus, but the number one thing of any wealthy person is don't lose money, and it's like it's don't lose money. So, yes, they want to make money, but they make money over time because they put themselves in positions to not lose money. You may lose money on one little thing, but overall, you know, you're diversified, right, you have this asymmetrical risk when you're going into something and then you spread that across multiple somethings. That's a beautiful thing, so, okay, okay.
Speaker 1:So I'm listening to this and you know, you talk about, you know, all these businesses and you talk about all these businesses and you talk about taking something from $100,000 to $1 million. But somebody who's listening to this is like listen, cody, cool, but I don't have a lot of money. By the way, we've only talked about the R and the framework and you're going to go read the book. I'm not going to go through the whole thing because you're going to go read the book and you're going to pull a ton from it, but the I is invest. What are some creative ways for somebody to fund a business, and what would you say to somebody like that that says I don't have it, I cannot?
Speaker 2:Yeah, I wish I would have learned this lesson earlier, which is you never suffer from a lack of money. You suffer from a lack of knowledge on how to get money, and that was really hard for me to conceptualize when I was younger. I was like, no, no, no. I saw my bank account, nothing in it. That's, you're wrong.
Speaker 2:And what I realized over time is that all around you at this exact moment, are people who are looking for places to put money, to make more money. It's all around you from banks, from investors, from friends, from family, from other business owners, and they're looking for you. The problem is is that you don't actually know how to serve them. And if you knew how to deliver deals to those people, if you knew how to deliver expertise to those people, if you knew how to negotiate in order to get yourself a piece of businesses that you already do work with, then you would see that money's all around and it's a very touchy feely, you know, woo, woo belief, but I do think it's true that money's actually massively abundant, and the only thing that isn't abundant is the knowledge on how to gain it and how to make it make more, and so, if you can optimize for anything. It's never.
Speaker 2:Hey, I often get asked the question like what should I invest in right now? What sector is better? You know, should I do Bitcoin, should I do Airbnbs? And I'll say and I usually say like we can statistically tell you the ROI on those investments. You know, real estate, on average, makes three to 4% per year. Airbnbs maybe you could get a little higher if it's less volatile than it is right now. Maybe you're getting 5, 6, 7, 8% per year. Stock market 10% per year. Private equity 12% to 15% per year. This is what they aggregate over time. What can you as an individual increase in value year over year? Well, that's pretty infinite, actually, because that means that there is no cap on your earnings potential. And so, anytime you think that you don't have money, if all you did was say I want to go learn about how to get more money, I want to learn about how to do deal making, I want to learn about how to talk to investors, you will eventually be able to find the money without having to look in your bank account.
Speaker 1:So good, okay, so, so good. Tagline in my business is think bigger. And it is the epitome of this, because it's it's it's belief. Anytime I go do any, anytime I come and do a podcast, anytime it's, I want to enhance belief and I believe a lot of it is surrounding yourself with people that are operating at a different level than you currently are because it will enhance your belief, because you'll realize it's not that you can't, it's that you don't know, it's not that it's not there, it's that you don't know how to tap into it. So somebody right now, they hear you. They're like, yes, okay, I get it. Maybe it's my belief, but I don't know anybody that has money, which I don't believe is a thing, period. But let's say that they say that, though I don't know anybody. Okay, so I'm going to go out there, I'm going to tap into, I'm going to start DMing you, I'm going to DM Tyler, I'm going to be. What would you tell them to do? How would you tell them to start enhancing their circle that way?
Speaker 2:Yeah Well, I think you want to get in the room where the game's already being played as often as possible, and the best way that you can do this is to do it in person. So I think you know I used to, back in the day, I used to really think that events and conferences and masterminds didn't make a lot of sense. I totally disagree with that. Now. I think that the best education we can get which is maybe why we built an education business is not at a university. It's not from other people who are also kind of lost trying to figure shit out. It's from a group of people who are pretty dialed. They already know what they want and there are a few people in there they're in the process of figuring it out.
Speaker 2:And so you know, when it came to me trying to change my life, what actually changed my life when I wanted to get out of finance is I went to one conference it was called sumo con back in the day by my friend, Noah Kagan, and I was like I want to. I think the future of making money is on the internet and I think the future of investing is on the internet, and I don't know anything about the internet because I was a hardcore finance person. So I was like, how does this work? So I found the next internet marketing conference that I could find. I knew nothing about internet marketing and I went and I sat in this event. If you could imagine, at the time I was probably in a suit and I was working on Wall Street and then there were all these like weirdos and T shirts and flat build hats and just totally different than I worked in.
Speaker 1:Goldman.
Speaker 2:Went to Georgetown. It was very different, and so I sat in this room and I listened to them talk about all these words that I had no idea about, wrote it all down, and then I just tried to meet as many humans as I could, and then I took every course I could find, from Noah's company on internet marketing, on email marketing, on sales online and I became obsessed with the game, and so that's what I'm hoping to do for people with acquisitions. You know, I hope that they read the book, because I think that is a great impetus. But getting next to other people, there's nothing more powerful. So I hope that then they go to contrarian community and I hope they take the course, and I hope they get involved with the in-person events, of which we do many a year, and I hope they try to get in a room where a bunch of other people, every single day, are working towards the same thing.
Speaker 2:And you know, it reminds me a lot of church too, and you know, as I've gotten older, I've really come to appreciate church more and like, where do you go once a week where everybody in the room theoretically has one goal which is just like I want to become a better human. I want to become a little bit better. I want a little bit more faith, I want a little bit more peace. So I'm going to go to this place where everybody's doing that once a week, and that is my idea for communities today. You want to go where other people already have the same goal as you.
Speaker 1:I love that answer. Those of you who are listening to this, just go, just in case you just go. Read, read, listen, like, and just literally, she literally breaks down steps for you to literally change your life. And it rings true because I I've experienced the exact same thing.
Speaker 1:The more that I've enhanced my circle, I've been in rooms, well, still to this day I'll go in rooms. I'll be like, damn, I don't belong here, like what the fuck am I doing here? But then, but then, what's crazy about that is, the more that you continue to put yourself in rooms like that, the more you're, you elevate, because now you belong there, because you put yourself in a position that you felt like you didn't belong there and you realize, like this I, what I believe is one of the most beautiful things about knowing people who are super, super wealthy, super rich, super successful they're they're no better than you. They're just normal people who really are trying to figure shit out. They've figured some shit out, like you said, but they're really just trying to figure out the next level, the next thing, and that's all. It's just the belief that they can.
Speaker 2:Yeah, you're exactly right, and you know what else is cool. Go into rooms like that and try to give as much as possible, like, I think, one of the other. The worst things you can do is it's all about me, me, me, take, take, take. What can I get? What can I get? And, first of all, you're going to get found out eventually that you're that type of human. That type of human doesn't attract more give, it attracts more take. So people are going to take from you, people are going to steal from you, people are going to mess with you, because that's the type of human that you are, and so you're putting. And if, what you?
Speaker 2:What you do instead is you try to give every time you get in a room like that, and I don't mean like loudly, I mean like, hey, you know I'm, I'm often like you, I'm often in these rooms that I'm like you know who are these people Like, what are we doing here? Am I allowed in here? And but what I'll try to do is like the kind thing hey, do you want a drink? Let me go get two of us, you know two from the bar. And what happens that I think is cool is, at some point you become more successful and people expect you to stop that. You know they expect like. You walk in, you're like, hey, you know I'm this and that and, and I've met so many people on the internet that are like that, like you know, excuse me, security, like I have to get over here and you know, whatever, I don't think those people have a lot of longevity.
Speaker 2:I think that gets found out. Then if instead, in every room you're just like, hey, how can I help? Can I grab that chair? Come sit here, come talk to us. What do you need help with? It's so rare and beautiful to be a giver that you don't even have to know more. You don't have to be more successful. You can just be a little bit kinder than the next person and listen a little bit more, and I think you'll be amazed how often that gets deals done too. People do not do deals with people that they respect. People do deals with people they like I can respect somebody and say I would never do a deal with that motherfucker because I don't like them and I don't trust them 100%. And so that kindness, not nice. You don't always have to be nice, you can be firm, but like kind is really underrated in this world.
Speaker 1:Oh, just so underrated. I love these things. You don't have to be the smartest, you don't have to have the most success, but you're just a good, genuine person that separates you, and you do that by literally looking for ways to do that. And the more that you do that, the more that not only does it come back to you, but it feels amazing. That's a better way to live life.
Speaker 1:In fact, what you said when you walked in the room I was with Andrew and what you said is something along the lines of oh man, I'm just grateful to be here God knows, we've already made enough money I'm just so grateful to be in a position to help. Like that's literally close to verbatim what you said. And then you closed the door and I was like, once again, that's when I was literally like I want her at peak, because you're going to see that my community is a group of amazing people, man, who believe in that value creation, and value creation is literally what you just said. Some of the, some of the, some of the best value you can ever give somebody is just to see them, to see them as a person Like I see the potential in you, you know.
Speaker 2:Yeah, I so agree with that. Well, that's a beautiful compliment. Thank you for saying that, and you got that same kind of energy, I think. You know, listen, life's short and, um, you know, at the end of the day, we probably won't be remembered anyways, so we might as well uh, we might as well try to to be kind and to be, um, you know, bring a little bit more joy to the world. So I'm into that, Um, and I so appreciate you having me on the podcast today and and talking about the book it's. It'll be really excited to see it all in person.
Speaker 1:Oh podcast today and talking about the book. It'll be really excited to see it all in person. Oh, my gosh, I'm so excited to get this out. I'm going to send a bunch of these out to my community. I don't know if you know that or not, but I'm sending a bunch out and I'm so excited to have you at Peak. And, Cody, thank you first for taking your time to write the book. It is crazy to me that somebody as successful as you continues to just pour in and give back, and I am very grateful to learn from your lessons and the things that you've done, and I so appreciate you being willing to come to Peak to share those. So, thank you, and I have. Yeah, I just have one question as we wrap up, which is this what separates you? You? You just carry yourself with confidence and grace, but like what? What do you? That's what I feel separates you. But what do you? What do you feel separates you?
Speaker 2:Hmm, um, hmm, you know, I mean, my dad would probably say that I never could spell the word no, and I don't think that's changed very much to this date.
Speaker 2:But you know, simultaneous to that, I think when you believe that you have a mission that is bigger than you, it's a lot easier to go farther than you think.
Speaker 2:And so what inspires me, and I hope people feel like, is what differentiates us is we give a lot of tactics and tools and how tos, but if you listen a little more deeply, it's much bigger than that.
Speaker 2:You know, I want everybody to be super rich, but more than that, um, I want our country to care about communities again and um, and I think that we are happier when we are building, and so I like to think the part of what we we, we differentiate by is that, while we teach a ton of tactics and we talk about money which a lot of people you know don't talk about anymore it is way more spiritual than that. It is that we want to create a nation of owners and we think that ownership has been stolen from us in many ways, and so we will serve that mission because we feel like that is what we were uniquely placed here to do, and until we have finished it, there's no like I'm going to build this company just to get to a billion dollars for me, that's totally uninteresting to me. It's bigger than that.
Speaker 1:Great answer, phenomenal answer. I love it, cody. Thank you so much. Everybody. Go buy the stinking book. Grab a ticket to peak partnership if you haven't. And one more thing as we wrap, which is if you have the nail in your foot and you keep talking to people right now, stop it. Put some up rubbing alcohol on it. Go make a list of decisions that you can make and go make the decision to own your own outcome and live as the loha Peace.