#85 Why Playing Small Is Keeping You Broke

Cody Sanchez kicks off this episode by discussing her experience speaking with creators about making their first million dollars. She highlights the importance of simplicity in business models, asserting that if a business cannot be explained to a grandparent, it may not be viable. A significant focus of the episode is on empowering women in entrepreneurship, noting that despite women owning 40% of businesses, they only represent 2% of business acquirers in America. Cody argues that women must shift their self-perception and start aiming for bigger goals instead of merely maintaining smaller, lifestyle businesses.

The episode delves into the nuanced language of finance and deal making, encouraging listeners to learn these skills to enhance their business acumen. Cody shares her personal insights on identifying when to walk away from a deal and emphasizes that one should look for profitable businesses with a track record of over five years, cash flow, and genuine interest.

Towards the end, Cody discusses the common pitfalls in investing and the importance of financial oversight to avoid disastrous deals. She also proposes that listeners learn about business making strategies and become immersed in a community focused on financial literacy to cultivate wealth without undue stress on saving. The episode serves as both a practical guide and a motivational speech for aspiring women entrepreneurs.