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So Money with Farnoosh Torabi

1805: How to Create Wealth Through Ownership with Codie Sanchez

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 26 March 2025

⏱️ 35 minutes

🧾️ Download transcript

Summary

What if the secret to extraordinary wealth isn’t about betting on the next big thing, but buying something tried-and-true—like a plumbing business, a car wash, or a cleaning company? What if the future of entrepreneurship isn’t on Wall Street or in Silicon Valley, but on Main Street—if only we knew how to seize it?


My guest today is Codie Sanchez, founder and CEO of Contrarian Thinking, a digital education platform and media company with over 6 million followers


In her new book, Main Street Millionaire: How to Make Extraordinary Wealth Buying Ordinary Businesses, Codie lays out her bold argument: that buying profitable, established, cash-flowing businesses is the most underrated path to building wealth—and that now is the time to act. Why? Because America is facing a generational handoff. Over 40 million Americans are hitting retirement age, and baby boomers—who currently own nearly two-thirds of small businesses with employees—are poised to sell. Codie calls it a “silver tsunami,” and for those who know how to navigate it, it could mean once-in-a-generation opportunity.


In our conversation, Codie opens up about her own unlikely journey from journalism to Wall Street to Main Street. We talk about how she made the leap, the psychological hurdles to entrepreneurship, and how she thinks about power, relationships, and the future of work in an AI-driven world.

Transcript

Click on a timestamp to play from that location

0:00.0

And off we go.

0:02.5

When you're a small business owner like me, every day is an adventure.

0:05.9

It can get pretty wild out there, but I'm used to fierce competition.

0:09.6

So I feel in my natural habitat out here on safari.

0:13.8

With an American Express business card, spend securely and earn points on business transactions.

0:18.8

To put towards a dream holiday.

0:21.2

Couldn't have said it better myself.

0:23.1

The card is for business, the points are for pleasure.

0:25.9

Search Amex Business Card, terms and annual fees apply.

0:28.4

18 plus, subject to status.

0:31.3

Ouch!

0:32.4

Employing staff in-house has never been more expensive.

0:35.4

But what if you could take something out of the mix?

0:37.2

Like, your call handling?

0:39.4

This is where Moneypenny comes in.

0:41.6

We can answer your calls, book appointments,

0:44.1

qualify leads and more.

0:46.3

The best bit,

0:47.4

it's all rolled into a single, on-demand,

0:49.8

subscription-based service that works for you and your business.

0:53.4

Go to Moneypenny.com.uk today.

1:00.3

So Money Episode 1805 had to build financial power through ownership with Cody Sanchez, founder and

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