Why You Can't Spell Rich Without Risk - The Millionaire Path Revealed | Codie Sanchez

The Daily Motivation

Lewis Howes

Education, Self-improvement

4.8 • 893 Ratings

🗓️ 18 April 2025

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Codie Sanchez reveals the undeniable link between risk-taking and wealth creation, sharing proven strategies for gaining business equity whether you're an investor or employee. Her finance industry experience provides actionable insights on building wealth through strategic ownership, partial acquisitions, and developing indispensable skills that companies can't function without.

Transcript

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0:00.0	I have a brand new book called Make Money Easy. And if you're looking to create more financial freedom
0:06.8	in your life, you want abundance in your life and you want to stop making money hard in your life,
0:12.4	but you want to make it easier. You want to make it flow. You want to feel abundant.
0:16.3	Then make sure to go to make money easybook.com right now and get yourself a copy. I really think this is going
0:24.8	to help you transform your relationship with money this moment moving forward. We have some big
0:30.8	guests and content coming up. Make sure you're following and stay tuned to this episode of the
0:36.9	Daily Motivation Show.
0:38.5	Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.
0:49.9	What is the personality type do you think that is for starting or buying a business versus a personality type that is not for owning a business?
0:58.0	Yeah. Well, I don't think you can spell rich without risk. And so if you really want richness in your life, like if you want to be very, very rich, you are not going to get there if you take no risk, unfortunately.
1:11.7	I've never seen it done that way. Maybe you guys could tell me if I'm wrong. So, and if you
1:16.6	want to get rich, here's the, here's the stats. One thing that's cool stat, 79% of all
1:21.5	millionaires in the U.S. are self-made. That number shocked me, because if you heard in the news, you'd think, no, no, it's all handed down, you know.
1:28.3	But 60% of all millionaires own a business.
1:33.3	So you immediately know, well, I have a 60% higher likelihood of becoming a millionaire if I own a business.
1:40.3	And if I want to make crazy levels of money, like 30 million plus, 88% of people
1:45.2	who are worth 30 million plus own a business. So first you've got to be honest with yourself.
1:49.0	What do I really want? If I want to be a millionaire and if I want to be worth 10 million
1:53.5	plus, hard to get there without having some version of ownership or equity.
1:58.0	And taking risk and working their butt off nonstop.
2:01.4	A hundred percent.
2:02.4	Like I giggled because another YouTube video did a video of me and it was like,
	...

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