The #1 Financial Freedom SECRET Rich People WON’T Tell You! | Codie Sanchez

Acquisition Steps

Codie Sanchez outlines the critical steps in acquiring a business, stressing the importance of thorough preparation. She advises spending 60 to 90 days learning deal-making skills to avoid costly mistakes. Codie emphasizes, "I think you need to spend 60 to 90 days learning how to do deals. You will be so glad you understand." 1. She also details a ten-step process for buying a business, from understanding opportunities to closing the deal and managing the first 90 days 2.

   

Financing Options

Financing is a pivotal aspect of business acquisitions, with Codie explaining that 60% of deals use seller financing. This method allows buyers to use the business's profits to pay for the acquisition over time. She states, "We can be our own banks in many instances" 3. Codie also compares investment options, highlighting that starting or buying businesses offers the highest potential returns compared to real estate or stocks 4.

   

Integration

Integrating a newly acquired business requires careful planning and execution. Codie shares her experience with Resi brands, where thorough due diligence revealed the business's potential for higher-than-expected returns. She notes, "We got under the hood and we were like, oh, man, we're gonna make way more money than we thought we were" 2. Additionally, she discusses strategies for scaling income streams within a business, such as adding new revenue lines and expanding locations 5.