The SECRET to having a 4 hour work week
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- čas přidán 11. 06. 2024
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The amount of time you work does not HAVE to correlate to how much you earn. If you’re smart about it.
We’ve all heard of people who make money while working only 4-10 hours per week. I see comments saying that’s impossible. AND it is DAMN hard. But here’s the thing: you can get there, with work upfront to set you up. I’m going to show you how to do it in this video with a bit of up-front legwork, and a sprinkle of ingenuity.
The richest people in the world didn’t get there by ice bathing. Eventually you have to break the mold and become an owner of something. And once you do, you need one crucial ingredient: hiring operators. I’ll tell you what an operator is, how to find a good one, and how you can replicate this success to grow your other businesses.
Have you ever owned a business (or even worked at one) where things ran smoothly? Why do you think it worked? Comment below!
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All content on the Codie Sanchez CZcams 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. - Zábava
She dropped more valuable information in 12 minutes than any wealth or business guru or coach in the last 20 years. Period.
Thanks Codie!
❤
@@BreamTotor - Wasn’t talking about the call. I’m talking about the knowledge on the entire video. That’s super valuable and if you have half a brain, you can apply a lot of what she said. Relatively easily.
I agree
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life too.
you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time.
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.
yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too
exactly! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
Nailed it! Thanks for sharing, Codie. Your advice is arguably more valuable than most college degrees. Equity is so important and rarely offered to operators. Love your recruiting approach too. How can they say no? Let's go!!!
Often imitated, never matched, always genius. Thanks Codie!
Get in touch ❤️
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
Am still shocked and surprised how made 3 fold gain copying Gillian trade for just 3days🤭
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade. I'm glad to have come in contact with Gillian Sara sheeran
Love y'all 😍and the information given always learning and growing is the only way we can hone our skills and build ourselves. Most interesting thing is that the rich gets Richer because the poor thinks that every opportunity is a scam especially investment like bitcoin, dogecoin, safemoon, gold silver, crude oil, ethereum, litecoin, bitcoin cash, cardano, polkadot, stellar, chainlink, binance coin, (BNB) etc has been able to represents legion of adventures and entrepreneur most especially risk taking, investors and problems solver
BEST CONTENT EVER!
Short, informative and fun to watch! Got a lot out it.
Coddie u rock👍🏾
Wow, this video is an eye-opener! It's time to break free from the conventional 9-to-5 grind and take control of our financial future. This powerful message reminds us that success is not solely determined by the hours we put in but by the smart choices we make.
I'm inspired to become an owner, to create opportunities, and to hire operators who can drive the business forward while I focus on the bigger picture. It's all about finding the right talent, whether proven or known, and empowering them to unleash their potential.
Thank you for sharing this invaluable advice, Cody! I'm ready to embrace the world of entrepreneurship and build a legacy that transcends the limits of a traditional career. Let's go from being employees to being the few who do. #Entrepreneurship #Ownership #UnleashYourPotential
All these things might work well for some businesses, but for cafe/restaurant businesses finding good operators who understand the value of bonuses and equity, is basically a needle in the haystack proposition. I've got a venue that is about to report $650k in taxable income (and as a former accountant, I use literally every trick in the book to keep my tax bill down), and in the past, I've put it into the hands of an operator who managed to lose $30k+ in her first month through spectacular incompetence.
I've also put it into the hands of good managers who were able to deliver exactly what I wanted for nothing more than a salary just a little higher than the market rate.
I've literally offered equity to almost every good employee who has ever worked for me, and not one has ever taken me up on the offer.
The video also fails to mention that the damage that gets done to your business every time you engage the wrong operator is substantial.
Wow amazingly helpful video Codie!
This is Better than a Masters Program ! Thank you Cody!!
You are awesome! I love all your business tips! You make buying a business sound less scary for a newbie! Love your To Be Adult disclosure!
Thank you♥️
We are grateful for your info knowledge wisdom love & time sharing
Love & blessings for you for all of us💚🌳🏡
Codie, I appreciate you so much. Thank you!
"Brilliant video! Thanks for revealing the secret to a 4-hour work week. Your content is a treasure trove of valuable insights from successful people. It's truly inspiring to see you sharing these ideas to help others achieve a better work-life balance. Keep up the fantastic work, and I appreciate your commitment to empowering others with valuable knowledge! 🙌🏼"
Thanks Codie🥳
Just falling in love with your narration ❤
Great video Codie, on point.
Codie, here is how I would describes your persona, Generous, honest, kind and very intellectual. My wife and I have your same mindset while building our retail business along with a real-estate portfolio, still learning much from you in our ventures. Thank you for your candid videos and interviews. Peace to you and your family, Patrick
Thank you very much for your time for making this video.
Very good advice! Wish I had one of you on my team.
I like your ways so far I agree with everything you have taught us... just don't agree with "stealing employees" especially calling them during their working hours.
Exactly 💯 Focus on high leverage tasks and outsource the rest
1st time listening to your content. Love it 😊😊.You inspire me
Cody, you have crushed it once again! This was exactly what I was asking you about in my video question I sent to you. Thank you for helping us all to improve and for keeping it so real thank you thank you thank you.
When you call many small businesses to speak to the manager, you will discover most are also the owner. This is especially true in boring businesses such as service businesses like HVAC, roofers, plumbing, landscaping etc. The owner holds the license that enables the business to operate.
This not true for retail, restaurants etc. But as Codie has said elsewhere these are not desirable businesses.
In most cities the businesses (and their owners) that have been around awhile know each other. I cant think of anything worse than poaching one of their managers to draw the disdain of the local industry niche.
Happy to see Codie addressing this very critical issue.
There is also the option to call chains or larger companies that have multiple locations that have managers. If they have a website or social media page that could tell you if the manager is an owner or not.
One of the best value given content from Codie yet!
Hands down!
@@Get-in-touch-Codiesanchez scammer
ugh luv you codi!
Fantastic video Codie
Wow.
Thank goodness I discovered your page!
I love how you explain it bless your heart
Top of the line content, keep it up! Like the vibe she delivers
This is the type of video many other try to emulate, just to sell you something at the end. Thanks for this information, your awesome!
Love the energy. But just remember that $70K/year salary for employee is the money you pay them. You will need to add about 30-40% for payroll taxes and other employer taxes, medical insurance, 401K match etc. That would be your true cost of employing someone.
Great video.
Extraordinary value as always! You have opened my eyes to an infinite amount possibilities and potential, I will definitely implement the profit share model with my operators and a even a milestone-based equity agreement to use equity with a sales quota condition as fuel to grow and surpass expectations 🔥
Hi, Codie, I found your channel today and just SUBSCRIBED ! I wanted to ask you- My whole career has been in healthcare profession, and I don’t have ANY experience Or training in business or economics. What is the most efficient/fastest way to learn about business and jump into actuality starting and running a business? I thought of taking a couple courses about economics/business at a local college or is that unnecessary? Maybe starting a small passive income business first and learn as I go is a better idea?
Codie, great content, as always! Thanks to your videos, I made the transition from real estate investor to business owner earlier this year when I purchased my first company. The operator of that business is great and I do only work a couple hours a week in a business that does close to 800k in revenue. I have another similar business under contract now and I’m looking for an investor! I’m calling on business owners now so I can buy more of them and have a big exit to a PE firm. I don’t see the form to connect with you to see if you want to invest! I don’t suck! Let’s connect!
This is a great video 📷, you put a big smile on my face 😊.
Codie, this is one of the best videos ever! Way to break it down so people understand the how and the why to get, keep, and pay the best talent. Keep going strong! Love what you are doing for people!
She is a great marketing machine. Great video production always help!
Amazing video! :) Thank you Codie. Question - do you mind sharing what your terms are with your family members? What do those prenups and operating agreements look like? Who gets the bigger cut between your husband and brother etc. ?
If you have a pre nup with your spouse.....why would you get married ❓️ A pre nup is a mindset of your marriage is going to fail. Just like a business, marriage is a risk , just like life ❗️
Thank you so so so much for this amazing gem on the free internet mountain of garbage information.Took notes!
absolute gold
Your video editors are amazing! I spit out my coffee with the clip of Sloth from the Goonies 😂
You are so awesome Codie
I’m always amazed by how many people watch your videos and how little they leave comments 😮❗️
I’m bringing in almost $8,K a month from the restaurant I sold last year. I’m legally handicapped because of 5 major back surgeries and and many other things like a knee replacement that went bad….
I’m only 61 but I want so much to invest my income and start something new.
Do you have any recommendations?
I know and understand that you’re a very busy person which I love.
I’m thinking about getting ready to invest in Real Estate next year when TSHF.
But I’m very interested in doing other things.
Thank you for what you do.
I absolutely love your videos.
Thank you and God Bless, Carlos from Paso Robles, California ✝️🙏❤️😊🇺🇸
Hi cody! Question: If these operators are partial owners, do we have to hire them legally? I live in south America and the hiring process is arduous + expensive. Basically, there's a lot businesses have to pay to the government for having an employee (on top of the salary, of course).
Also: how do you do profit estimations? Especially with new businesses
good one
I wouldn’t hire a poached manager. What about their loyalty? If they are not loyal to who you poached them from how can you expect them to be loyal to you?
Great video, can you please make a video about Rental Equipment thanks in advance 👋
Problem: In the example, you are buying a business with $100k in net profit? So that has to gross at least $500k which would mean you are buying a business at $2.5 million….not many first time business owners can afford businesses that have enough net profit to hire an operator. This sum is not the same as buying someone’s pool cleaning route
My thoughts exactly. She starts with 100k, them had 30k left to run a business with?? It's a joke. If I had that much equity I'd be set already to do what I wanted.
Did y'all like not watch the same video.
1) The 100k was profits. So @chiefrocka1363, the $30k is now take home profit.
2) There's no hard rule that profit is 20%. Also, no one buys a business at 5x gross rev. They look at EBIDTA and non tech businesses usually max out around 3x multiples.
Hi Codie great video thank you . Is this like Dan Pena Qla ?
Top content 🎉❤
love the video! where is the link? :D
Hi Codie😊 i like your videos and I have a question, did you learn all this on your own or is there any course that you prefer to so I can begin also my journey
Just waiting for the notification bell
Hi Codie , wants your thoughts on Sweat Equity? Is it a myth ? Your you should be rewarded for it ? How do you judge it’s value ? it ? If it was your idea or businesses concept , even finding the The A property site for the business.
It is obvious this isn't your first Rodeo! ❤🎉LOVE it,
Where is the link she spoke about to fill out at the end for a business?
Do you recommend becoming the operator yourself initially and and learning the business really well so that when you do hire the operator, if they ever leave you can always step in. Or would it be ideal to find an operator as you're buying the business or as soon as possible?
This is my question too.
As a successful entrepreneur, I recommend taking the time to learn the business thoroughly before hiring an operator, but it's also important to start looking for an operator as soon as possible. By initially becoming the operator yourself, you gain invaluable firsthand experience and understanding of the business operations, which will enable you to make informed decisions and effectively manage the operator when you do hire one.
Learning the business well allows you to establish efficient systems, identify potential challenges, and develop strategies for growth. It also provides you with a solid foundation to effectively train and guide the operator when they come on board. This hands-on experience will prove beneficial in the long run, even if you eventually hire someone to take over.
However, it's equally important to start searching for a capable operator early on. Building a successful business requires a strong team, and finding the right operator can be a time-consuming process. Hiring an operator as you acquire the business or shortly thereafter ensures a smoother transition and minimizes the risk of disruptions in case the operator you initially hire decides to leave.
Ultimately, a balance between learning the business yourself and finding an operator early is crucial. It allows you to gain expertise while simultaneously preparing for the future success and continuity of your business.
it very obvious, she isn't saying that at all
@@FloydTaylor it's not at all obvious as she can't cover everything in one video and does not mention this
@@canarycapitalrentals great answer!
hey Codie, I have a full business plan with business strategy and marketing plan and strategy for a restaurant, however I won't start it, but if I want to sell it as business idea not papers that people are not willing to buy, how can I do that? and how much is it worth?
You videos are the absolute best 😂❤ I want to work with you one day 🤝🤛🏻
How do you finance the purchase of these businesses?
You must have been reading my mind Codie!
Not in those heels, she doesn’t. Priceless!
I like that woman !!!! Real exemple, love it !!!❤
In larger corporations everybody gets profit share in December. Dept Managers get shares if it’s publicly traded and sales team, directors and VPs get quarterly bonuses.
In finance the world some bonuses are more than the annual salary (but can b taxed differently).
To me profit share doesn’t mean much. I once got profit share during Xmas season that was over taxes by 75%, but my company didn’t bother to fix it. It was a sad holiday.
Powerful
What websites you recommend me buying business on
Tim Ferris..4Hr work week in summary.
Thank you Cordie
Thanks Codie, Sorry but where is this link for business owners?? I'm missing it, only seeing the newsletter.. God bless!
I'm already a follow of all the mentors listed here in the description, great wisdom and content from all of them..
Yea I’m looking for the link too. Let me know if you find it! I’ll do the same.
Hi Codie. God bless you. You're doing the most. Please keep on pushing
What is the link if you have a business for sale?
how do you find out how much money they made for you?
Codie is going to change my life
Codie, you rock I was going to say, you're a rock star but according to , " THAT COMMERCIAL", we should not be calling each other rock stars. 🤣.. great info
it's about responsibility. if it's your responsibility, you have the power.
Hey everyone! Does anybody know where to find this link to apply to sell my small business? I would love to do this but I didn’t see it in the description. Thank you!
My name is actually Dave 😅 I hear you loud and clear Codie, I literally just made a video about the same thing 😮
Yo I've been wanting to do this for years! Give a small percentage of revenue to my service techs, pay them well and have them tech the young gen. Hard here in Cali though:/
Is this also applicable in Australi? just curious as it seems like it’s very USA based to me. I’d love to learn how to buy and run business here as I’m so sick being at the mercy of managers and owners
In 2020 I worked for 7 days, 14hr per day , made 20G, chilled and enjoyed. That makes 1.75 hr per week. So... Prospective.
Would the operator pay just have to come from profits? If the business already has a manager couldn't that role be cominded? So some of the funds could be salary funds already being used and a % for profit sharing, to less the amount coming out of profits?
I'm showing this to my kid -- his decision to be an operator or owner. He needs to know the differnce.
The operator will soon create his own business, and leaving you. With 26 businesses, you'll spend 110% of your time looking for operators replacements.
The “slap a$$” reference 😂
I need to know who's the video editor of your channel?
To sum it up in one word...leverage.
Remember what goes around comes around- stealing managers away from competitors is not true leadership-
She's not stealing anyone. If you treat and pay your employees properly, Codie et al will be unable to poach them from you because they'll love working for you and wouldn't want to leave.
@@aminataykanu
“Stealing” aka giving better pay, shareholder stake in the business as equity and pays dividends so you have skin in the game and a great benefits, incentives, health, vision and dental insurance package with good PTO and you’ll be great, unless the business you’re taking workers from can do better than you as a counter offer.
No such thing as "Stealing" employees. They're people and the businesses do NOT own them. That mindset is why they will be thrilled to leave as soon as someone actually treats them like real people and not machines.
What are you delusional? All new hires with experience come from another company
How do you match the medical benefits that the previous employer provided
She mentions people buying businesses with zero down so casually. I’ve been looking at businesses for sale for years and haven’t found any in my area. I wish there was a platform to find deals like that.
Depends really on existing income and personal credit
Zero down is rare for anything of value.
@@architecture.w especially without the necessary credit and income. With those two things it’s not too hard to come up with. Just need to right lender and/or seller and a good deal
It’s done with personal financing like seller financing or contract for deeds.
What I have seen in other videos is you won't necessarily see zero down listed, it's a negotiation tactic. They are having no luck selling or other deals fell through, so you say, here is the deal I can give you with zero down. It might be a good idea to offer more than their asking price to sweeten the offer.
cried inside when she said husband
Cool. I know how to identify an operator. I’m still poor and don’t have a business.
I'M BUYING NOW!!!! PLEASE TAKE MY MONEYYYYYYYYYYYYYYY !!!!!!!!!!!!!!
How does the seller get paid for their equity in the house?
Codie and Alex Hormozi are the true G’s
Codie what was that number?
I think we were separated at birth. I do this ALL the time. Intel gathering is essential!♥️
Codie, everything you do is what I do. It's scary! 🤣
First this made my mind go to how to make money as an operator then my mind switched to being the equity
Smarter not harder!!
0:27 Of course it corrolates