Codie Sanchez: This Is the No. 1 Way To Get Rich

Core Insights - The primary advice for wealth accumulation from Codie Sanchez revolves around acquisitions, emphasizing the importance of buying businesses as a strategy for financial growth [1] Group 1: Business Acquisition Strategy - Sanchez suggests starting by creating a personal company and then acquiring others to enhance wealth [2] - The average age of small business owners is 67, indicating a significant number are looking to retire, presenting opportunities for acquisition [3] - Business owners may also be motivated to sell due to personal circumstances such as divorce or death, which can create acquisition opportunities [3] Group 2: Financing and Revenue Considerations - Seller financing is highlighted as a beneficial method, allowing sellers to potentially earn more while facilitating the sale [4][5] - Targeting businesses with less than $10 million in annual revenue is recommended, as this segment faces less competition from private equity investors [6] - It is crucial for buyers to ensure that the business generates enough profit to cover operational costs and debt service [6] Group 3: Market Opportunities - Sanchez distinguishes between on-market deals (businesses currently for sale) and off-market deals (unlisted businesses that may still be available for purchase) [7] - There are approximately 11 million businesses listed for sale and over 40 million that are not actively advertised but could be sold if approached with a suitable offer [8]