Main Street Millionaire: How to Make Extraordinary Wealth Buying Ordinary Businesses

One of the most actionable books I’ve ever read. She tells you everything you need to know about this game. It is literally the ultimate playbook.

Practical, inspiring, and incredibly valuable. This book opened my eyes to opportunities I never considered before. Highly recommend!

Libro eccezionale su come trovare e comprare un boring business, alcuni aspetti sono relativi a processi validi sono negli US, ma per il resto davvero ottimo!

Good and Fast Delivery

Great book! Easy to follow and very realistic information, with many practical and attainable processes included. Definitely recommend to anyone wanting to buy and grow their business portfolio. Maybe less opportunities in Australia then the numbers Cody mentions but still a workable theory.

If you are interested in entrepreneurship and buying a business, you need to read this book. If you liked The $100 Startup and want to graduate to the next level, Main Street Millionaire by Codie Sanchez is the book for you. If you read The Millionaire Next Door but are interested in one avenue to get there, try this book. The pathway to ownership and financial freedom takes ‘intestinal fortitude’ as an old oil wildcatter once told me, but it can be done and here is the clear and detailed blueprint. The author has a very strong social media presence and has impressively worked her way up in the business world to her current position. She has spent time working in many different business cultures and used this aggregate experience to chart out a novel path that allows one to make millions without playing the Wall Street game. As Sanchez writes, her specific zone of genius is marketing, and this is obvious if you have followed her on LinkedIn. I am not sure if she has time to sleep as she is always watching, reading, and creating leads which is part of her RICH strategy as detailed in her very digestible and well-written book (Research, Invest, Command and Harness). I read this book because I come from a family that has been active in starting or supporting small business. I may or may not purchase a business, but I was interested in the process as well as the desire to grow and market my own online ecommerce biz. As an investor in corporate businesses (through investing in the stock market), I was also interested in the author’s views on the C Corp and LLC business model, due diligence, and growth strategies. Given my desire to learn more about markets, business, and wealth creation, I jumped onboard and was glad that I did. I thought the RICH template was very helpful for anyone who wants to pursue a path of ownership and entrepreneurship. The author uses many helpful and easily understood graphics, quotes, quantitative metrics, and other visual examples to detail the RICH process. For the first step, the author focuses on Research to help the aspiring entrepreneur locate the right acquisition. Keys here are to know thyself, one’s particular talents, and create a Deal Box to define exactly what you want. One important factor is to find a business with enough profit to pay for the operator first. The second step is the Investment stage which details how to buy a business, stressing the importance of seller financing to create a win-win for both the buyer and seller. An important theme in this step is to trust but verify and then actualize the key components of negotiating the deal. The third step is C for Command, and this integral key stone involves tips on hiring a successful operator, allowing the entrepreneur time to work on other business pursuits. The author introduces the importance of a symbiotic relationship and need for a establishing a margin of safety. The author also cautions easy friend/family hires or 50/50 structures that could imperil your business from the start. Many have likely learned this lesson the hard way and I think we all know someone who has done this and regretted it. Sometimes it can work but pros need to control the terms to choose their hard. Naming your price first is usually seen as a mistake but the author makes a convincing case in how it can be a strong tactic, especially if you have the paperwork and numbers to back it up. It can be a positive for both parties. Hiring ex-military, using social media, and using a 30-60-90 plan to create a north star for your business are all steppingstones for success is creating command control. The final step is Harness, and this delves into pricing strategies, outsourcing and referrals to find your ‘Deal Driveway.’ Throughout the book, the author stresses the importance of individual focus, time, and efficiency in the ownership endeavor. Make no mistake, the author constantly reminds the reader that the path will be ‘hard and grueling’ work but presents a very viable blueprint to help the rising business star get started. One must have amassed a great deal of personal deal experience to write such a book and boil down the key stages into such a clear, detailed, and proven strategy. Codie Sanchez has truly done this, and it is no surprise that she has been so successful in her entrepreneurial endeavors. A book truly worth the read as we think of new ways to challenge ourselves in the year ahead.