Don’t Start A Business Until You Watch This
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- Опубліковано 9 лис 2023
- Want to learn how to buy a business? (Free Consult): contrarianthinking.biz/youtub...
The ONE document I make ALL my companies use 📃 The ONLY way to insure you are not going to run out of cash is to track it weekly. This is every private equity funds simple superpower: contrarianthinking.biz/46d4LeG
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Every entrepreneur dreams about the title of CEO, but the path to getting there is a mine-field of failure. Here's the hard truth most people don't want to hear, and even fewer will want to tell you: you will fail, repeatedly. Jeff Bezos has made multiple billion-dollar mistakes at Amazon. He's lost more than most people will ever gain in a lifetime.
45% of businesses fail in the first two years. And in 10 years, 75% of all businesses fail. Why am I telling you this? Because if you can anticipate failure, you can be prepared for it, learn from it and be better at avoiding it in the future.
The most expensive mistake you'll likely make is not what you do, but who you chose to do it with. A lot of entrepreneurs may at some point start a business with a friend. Friends are easy to work with because we already like them, but unfortunately, sometimes money makes people do crazy things like steal from you. It has happened to me, and it will probably happen to you. It sucks, but it's not the end of the world and it will hone your senses to look out for the next time it could happen.
This video is full of all the common pitfalls you may encounter on your bumpy road to success. Have you encountered any of these problems while running your business? Are there any red flags you noticed along the way, and ones you didn't anticipate? Comment below!
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All content on the Codie Sanchez UA-cam channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links. - Розваги
Join me next Wednesday to learn my 10 steps to buying a business that cashflows and how you can start using them right away! Click here to reserve your spot (only 5k spots available): contrarianthinking.biz/masterclass
Is this the only masterclass you're having on buying a business?
Or will there be more free masterclasses?
I don't know how you're going to take this but part your hair on the side. Not in the middle. I don't know why but women are so much better. Looking with their hair parted on the side and it would really make you look very pretty.
@CodieSanchezCT I really want to register for this masterclass, is this something that i can listen in on and take notes while im at work, or will i need to be 1 on 1, undivided attention? I know you say 5k spots are avaliable, but i didnt know how the class was going to be presented because i really want to hear what you have to say i just dont want to commit to something i cant work around with my work schedule and then have to cancel. I wouldn't be able to be on zoom and have it set up while im at work, i would need to be able to dial in and take notes and i just wanted to make sure i would be able to do that or not.
😊
"Assume that the person you're going to be tomorrow is not the person that you are today and that other person is going to want something bigger by that day; you need to plan with the end in mind" .... very profound!
One of the captains on Deadliest Catch once said; "Well, We need these days to appreciate the good ones."
I've printed this out and put it on the wall behind my desk. As I see the sand run out of the hour glass (I quit my job to start a company)
It sort of keeps me going. Codie: I love your stories, they are gold.
00:02 Failure is common in business
01:59 Track your cash flow to avoid financial difficulties in your business.
05:24 Be cautious when doing business with friends and focus on integrity and past behavior.
07:13 People often turn on those who have helped them in business when things go wrong.
10:50 Diversifying investments and expanding to different markets is important for business survival
12:41 Stripe's hold on small businesses' cash can bankrupt them within 3 months.
16:21 Plan for your exit and start with the end in mind.
17:58 Realizing that you're not enjoying your job or business is the first step towards finding a solution.
21:05 Expect that someone will try to steal your ideas and run with them in business.
22:42 Entrepreneurship is hard, but so is working a 9 to 5 job.
Damn!!! This woman is GOLD. I never comment on YT videos but I must just day that I love you Coddie Sanchez. I have been following everything about you all the way from Kenya and you hit the nail on the head every single time. I just lost a big bar and restaurant business worth $100,000 in Nairobi Kenya which is alot here! Its kshs ten million because of every reason you mentioned: Stealing employees, People I trust turning against me, somebody copy pasting my exact business and finally the government of Kenya hated me because I exposed a corruption scandal of police illegally collecting money business owners every single day. It was very hard but I have learned alot of lessons as an individual and Im now gearing up for the next business more keen and with my eyes and brain more wide open. THANK YOU!!
OMG!!! Thank you so much for your response! I'm still in utter shock that you noticed and replied to my comment! It would completely change my life if you could just take a look at my current incomplete business proposal and advise me! In exchange, I would be willing to appear on one of your videos so that you can use me to teach others who are not rich yet just exactly how to get started with business or how to pick up yourself after failing in business! Thank you again!
If UA-cam had a Hall Of Fame, then CS would be the founding member and this video would be the video to which all others would be judged and held up too. Truly all of your videos are brilliant in many ways, But this is by far the best of the best.. I will be watching this video many times to hear the lessons over and over again.
Just reached my 3rd year of working for myself. Tons of ups and downs. Working for yourself amplifies the deep rooted issues you’ve tucked away while working in corporate.
This has been your best video content to date, Codie! I can almost literally hear your voice as if I’m listening to you in person like an aunt/mentor. It goes straight to where core memories are coded into one’s character!
The personal stories go far deeper than any get-rich tactic or MBA-tier strategy out there on the internet. You have such an invaluable sage wisdom. 💖
And nothing short of charming as your newsletter always is! Always a delight to read and let sink in.
Thank you for all the you do, Codie and team!
Codie, I love your dad’s story! This is a great lesson! LETS GO ENTREPRENEURS!!!!❤❤❤
Wow! Very informative, Codie. Thank you for being so open and vulnerable. Being able to better prepare mentally through the information you provided is Huge! Thanks for doing things Your Way!
your father was my grandad💚☘️(not literally obvs)❤
Thank you I love your honesty every time. I learned a lot ever since I subscribed to your channel.Gracias ♥ ♥
Okay this was a good video. I've owned a business since I was 25 and most of the things you talked about in this video have happened. It's true you have to choose your hard. Luckily I've been blessed with a relentlessly positive attitude and try my best to learn from all challenges. Great video. Thanks codie!
So glad to have found your channel. You're full of energy and so informative. Thank you!
Experienced all the bad things you mentioned. Employee stealing your homework, shareholder cheating on you, got sued, COVID, almost went bankrupt, lost friends, ... but I won in every case. Won the court, the copycat who opened the business closed down, my business increased thanks to the free PR I got from that copycat . Got rid of the shareholder, the market's back after the lockdowns ended, and what I learned the best, I can smell BS from potential frauds from miles away.
SHES A SCAM ARTIST
You are so inspiring. Love to watch your videos in the morning to get day started
Im so glad you, Alex, and Leila Hormozie are transparent. Ive sold stuff of my personal possesion to make payroll at yimes. Also, your content is BOMB!!! I dont listen to anyone in business anymore but y'all. Also, yes. Ive made less, often, than some of my leaders.
Solid advice. Thanks Codie!
This is awesome! Great video Codie!
It would be extremely helpful Codie if you can make a video on contract-making. The format and all the legal stuff required and everything else about this.
Thank you !!!! Soo Helpful
Codie, you really are amazing. Thank you for all your content
On point as always. Thanks!
Great advice! Thanks
This is a great business video. Thank you for the honesty!
This video alone could've been a 499$ seminar! Fantastic content Codie.🎉
Amazing entrepreneurship lesson! Years compressed into minutes! Thank you!🙏
Very effective video , Keep it up✊🏾
Great content and wisdom as always, thanks Codie
OMG I love your videos!!!
I So Appreciate you, your candidness for sure, your character, your Generosity, in Sharing humbly and truthfully, every detail. (Only because I don't want to be dishonest - the one thing I personally do have a very hard time with is foul language). But there is So much Good in you it's hard to Stop watching all together.
I am still in learning Stage since January first time I discovered your generous extreme wealth of financial knowledge. So, Thank You for Sharing This incredibly Realistic Teaching, Instructional, Learning Time! Thank You Codie we really appreciate you!!
Your videos give me an ad every 2-3 minutes
great video Codie you are awesome you keep on dropping these gems in your videos
Thanks Codie, this is absolutely beautiful.🎉
Thanks Codie for this video
I don't think I/we can thank you enough for all of this learning you are puttting out there. I hope to meet you soon. And again; Thank you.
Thank you Codie♥ ♥
TY Codie
Thanks. This is the exactly the video I needed today. It's been a tough few weeks for my small business.
My failure in 7 business made finally succeed in two, now working hard to make it at least 200! Thanks.
What industry are you in mate
@@riveenmanatunga1816 Digital services basically, logo designs, websites, SEO, ads campaigns, social media management, support on government or other entities diligences and appointments, like driver licenses… All that stuff
Who is the video editor on these. All I can say is Phenomenal!!! 😮!!
This one hits deep.
I needed this reminder.
God damn you nailed it....omg I thought I was the only one
Best entrepreneurship video I have ever seen, thanks for sharing your insight and experience!! (the airport in Santiago is much better now)
interesting to see that its reflecting my latest entrepreneurial experience. Good to see this video to learn next steps to deal with it.
For me it isn't the design making that slows me down. But the keyword selection and loading of the designs onto my stores. It is a very time consuming process and I am doing this while working and raing my toddler.
The exact thing happened to me with world pay and stripe!
Codie, I love your content!! I realize you are a great investor for your financial knowledge. I would like to know more of fincence from your teaching. Finance course would be how to complete the process for a success business
Gul , that blazer is straight 🔥
Hell yeah!
OMG..I heard my own business story here Cody! Very good advise (for free, so thank you) I’m not giving up because it’s not an option, I am the business…I loved that tweet from your friend..yup. I’m so there…I have an idea and working a plan for a new business . Just looking for a very small input of capital. I do NOT want to use my own money obviously. Thanks again….so valuable!!
Awesome content.
I know most people here know you but I would love to hear your story. Do you think that, although I don’t want to shift blame, but if you have absolutely no support, do you think having no support, whatsoever hinders your ability to be successful? I’ve been struggling for so long and I KNOW so much because I fill my head with valuable business and marketing strategies and practices. I KNOW how to explain it but I can’t do it. Also, I grew up not knowing that I was being abused by a Narcissist so I received my core self belief from her. As an adult, I only felt comfortable in a relationship in which I’m being treated the way I thought I ought to be treated. Unfortunately, I had a family and lost them as a result of that abuse. I had no idea and neither did child welfare. They believed I was being abused because I acted like a typical victim but they didn’t know what was going on. They thought I was lying so they were always mad at me for lying. It was so sad and has broken me. I am still trying but the older I get the more discouraged I become
I did some theraphy to find out why I was not doing passive investing when I'm good at it. i leaned that I was afraid of failure, due to excessive criticism from others. So what did I do? I bought Bitcoin low, did well, but did not sell when I should have. I lost all of it due to fraud by companies that went down with FX. The universe delivered my biggest fear to overcome and I wanted to heal.. My best strategy seemed to be spend way less to come up with new capital. My current investment in Tesla is doing well. I'm happy with it enough that my attention is turning to what Codie talks about. My point is that I think the emotional part of being frauded, betrayed, etc is a huge deal.
Not getting paid is unthinkable in Switzerland! Wow, I had no idea how it works in other countries 💀
Love the donut comparison lol
Thank you
Never wrestle with a pig... good one
totally agree with this theory no success have had a linear path but exactly the opposite . behind success there is brain passion and a doze hours of work and problem facing and solving.
so true
Because it's a step in the right direction :)
Codie : konuşmanızın tamamı para!!! o'kadar hoş geliyorki' kulağa ,Mozart dinlemektense sizi tercih etmenin izlemenin zevkine hazına varmak muhteşem yutube kanalınız
OMG love your videos !!!!
excellnt advice!
Make a video on how to buy a business even if you cant get a loan from the banks.
💯% true 😎
Top content as Always 🔥
Eagles flying high but have to fight for everything
Codie, please repost that webinar from November 15th. 10 Steps to Buying a Business that Cashflows on UA-cam. I would appreciate it. I cannot make it at that time.
Wow, Thank You!
“Now you can choose your ‘hard’ with your eyes wide open. ⚡️
Great video Codie .
great principle!
Really excellent! I started watching this girl because she's cute but I really learn from her. Great stuff!!
This is exactly what happened to my boss. His partner was doing something tricky so I told him but sadly he gave.more credit to his partner so I quit and I have a better job now. I'm sorry for him because he is a good guy.
Once your business grows big you must visit everyone who might have bad impact upon you and announce them that your staus means specific consequences if any intentional inconvenience occurs. Literaly "if you make me lose you will pay for it"
🎉can u teach me how u make your chalk write 2 colours the same time?
Codie "Dirty" Sanchez
Gots it
Thank you very much for warnings of the occasional Hell and hurt to come. Admire and respect you much for this. Hoping better preparation will prevent much of us from this Hell.
This will most likely remain one of my most favorite videos ever. Another video of your that I need to type many notes on. The last time took me about 5 hours. Missed my noon day sleep in preparation for job starting 6 PM . By time got home, had been up 25 hours straight. This current video appears even better yet. Being wealth appears to take the sting out of being poor but appears tough anyway. You did say on at least two videos, "Choose your hard."
Notice that this Monthly Cash Flow Tracker does not show total Cash Flow out at the bottom and no net flow in or out. The sheet appears cut off at the bottom. Guessing we need to get lots of business knowledge in addition to buying one of your courses if we want to succeed in business. This video appears to be an outstanding start. So many on UA-cam suggest we do not need to know much , work long, or work hard, just pay for their course, and we will make lots of fast easy money. Thank you very much for suggesting what bunk that is.
I got friendship lesson even at Building....No more trust for anyone at anycost
Cash flows or the doors close.
Common saying, infidel has four signs: if speaks, he lies; if he comes on anger, he start curse; if he does promise, he breaks; and he does back biting of others.
I had a backwards thing happen. I basically ran a business while the owner was in italy in 3 months.
I also wqs renting a room from her med spa. Id work the AM at her place and PN my business.
I wanted to cut 1 day a week to focus on my business. She didn’t want to hire and decided to close and blmaed me and accused me of stealing a computer.
Yay
Failer is the Success of key.
Codie being a entrepreneur is not working out for me. I can't even get my first sale for products I have listed online on eBay for sale.
🙌
no one talks about the muddy side of business with such details
Well, the main theme of the video is You should not start a business if you don't have courage or acceptance of failure.
The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. It's obvious we are headed for hyperinflation,it is always the poor who take the hit.
yes, lets blame the goverment for the greed of others. that makes so much sense. we can blame both parties for not doing something about "greedflation" that both profit from.
What degrees do you have?
Hmmm...
I subscribed to your channel a few months ago.
I clicked on the channel marker and saw the word subscribe.
So I subscribed again.
Weird.
do you have a good option to avoid Stripe?
I am truly impressed by the video you shared and I want to express my gratitude for breaking it down into digestible pieces. Even though the current economic climate is facing a downturn, I am ecstatic to share that I have been experiencing significant financial gains. To be more specific, my initial investment of $9,000 has resulted in returns of $60,000 every 21 days. This news brings me immense joy and I am grateful for the opportunity to share it with you.
This must be an investment with *Ms* lauren
Wow I'm just shocked you mentioned expert Lauren thought I'm the only one trading with her
How to start? How much money needed?
I use a trading platform with help from Mrs. Lauren, my long-time professional assistant, and have profited greatly from her trading strategies.
How did you make so much in the cry pto market? I've heard about Mrs. Lauren's genius mind.
I’ve been “running” my side hustle for 3 years and haven’t made money yet! So I technically have failed yet! Jokes on you haha jk - not easy that’s for sure.
cash is king!
eye opening and terrifying! lol
How I can become rich fast???
Eight HOUR PowerPoint is insane. "Nope."
I love your content keep up the good work. You are winning!
Well shit.. now I’m all pissed off about something I didn’t even know about 20 mins ago
Truth: we have made some dump stuff. Like software we never used.