Codie Sanchez made her first million while keeping her corporate job using the "business buyer ladder": buy small ownership stakes with your salary, reinvest the cash flow into bigger pieces, then buy whole businesses. She argues quitting your job to go all-in is bad advice.
Chapters
How did I make my first million? I didn't do it the normal way, like no startup or quitting my job. I didn't quit dramatically at 24. I was working in corporate making a salary, and honestly, I was too scared to quit because I made a lot of money. So I did what I now call the business buyer ladder, and I think way more people who feel stuck in their job should probably do it too. You know, if I had to break it down, it'd be step 1, use your 9 to 5 to buy tiny ownership stakes in businesses on the side, just a tiny amount of cash. Step 2, you use the cash flow from those deals to buy bigger pieces of businesses. Step 3, eventually buy whole businesses. While everybody else is still waiting for the perfect time. That's why I think the dumbest financial advice online is just quit and go all in. No, use your paycheck to fund ownership. I'm happy to show you how live if that would be useful. I think buying businesses doesn't have to change your entire life. You can start really small.