The SECRET to having a 4 hour work week

I'm going to show you, if you're willing to put in the work, exactly how you could own a business making more in one month than you've made in your whole career while only working four to ten hours a week. Eventually, Warren Buffett wakes up, drives his McDonald's and proceeds to read seven newspapers a day. Local shift worker, let's call him Dave, wakes up at six and spends 12 hours slaving away. Warren Buffett. He's worth $113 billion, Dave. Eight bucks an hour. The amount of time you work does not correlate to how much you earn. You got to choose your game careful. Do you really think that Steve Jobs built the most successful company in the world by setting his alarm at 5:45 and doing ice baths? No. If time does not equal money, then what does? Ownership. This is why I'm leading a campaign to make more of you owners. Yes, you can make great money working at a high paid job, but you can't sell your W2. You can't pass it on to your kids. So I'm going to teach you how to do it, too. I know what you're thinking, Cody. I don't have time for this. I don't even know how to run a business. And of course, I can see why you think that. I thought the same thing. But then I remembered Buffett and his newspapers. What if everything we believed was actually wrong? What if the upfront work was a lot, but the payoff was a lifetime? One of my friends who I taught to buy businesses, Renan said it perfectly. He said, all my friends say you're crazy. What happens if a business goes sideways? That's risky. But he's a risk taker. And that's why he ends up winning. Because everyone who wins is the same. Instead of saying, be careful, they say, let's go. The few who do, they run the world. So let's go from working for other people for the rest of your life until you turn 65, at which point you get a cruise and a walker and instead turn you into one of those few who do. Just take Ron. He went from $0 to 8 million in revenue purchased with $0 down. And nobody is talking about this. So how does it work? One word. Operators. I'm going to show you how you can own these businesses and have somebody else run it. And for all of you saying no, you can't, you might want to watch this video. I'll do what I want to do. All right. So what's an operator? It's the Thing that allows me to own 26 businesses that are all cash flowing as I'm talking to you. Tell me more. It's the thing that allows Buffett to find time for that McDonald's every morning. It's also the thing that could allow you to save small business owners from closing their doors forever. You're the bridge to the future. So Warren Buffett realized this, wanted to be a billionaire. He realized he needed an operator. Enter Charlie Munger. Warren and Charlie both became billionaires through Warren finding the deals and Charlie operating them. Then Charlie hired a bunch of people just like him. And instead of doing what most bosses do, which is micromanage, he lived by this quote. When you buy a dog, you don't do the barking for it. Small words, really impactful. When you hire an operator, you don't do the operating for them. We help find you your operating bulldog, and it's probably not how you think. Let's find these people. We got a case study first. This is Miss Nevada. Does mail, I call it. All right. My friend Lisa scaled her mini mailbox business while running three other companies. Do you think she licks the stamps herself and slaps them on the boxes day in and day out? Not on those heels, she doesn't. Because Lisa understands the upside of having operators that could manage her business while she's working. She hired cocktail waitresses off the Vegas strip. Brilliant. You look at these ladies, you don't get to be in the service industry for long if you aren't a quick learner and a natural hustler. Also, you age out. Also, if you do this, no one slaps your ass at the mail store. That one hiring decision to take waitresses and turn them into owners and operators has made her more than $250,000 a year. You do the math. Path number two. I call this Cody as a nepotist. I don't know if that's a real word, but basically it means I hire my family. My husband runs a venture fund for me. My brother runs our Airbnb. My mom did the books in my first business. I bought that venture fund makes me six figures a year. The Airbnb makes me seven figures a year, multiple of them. My first business made me, like, 37 cents that my mom ran, but that was 12 years ago, so, you know, 37 cents was 37 cents back then. I like to hire family and friends as operators, but it only works if your family doesn't suck. You suck. And it works a lot better if you set really clear expectations on what winning and losing looks like path number three. That's five. Path number three. So how do you find your operator? The best operator is always one of two things. Proven or known talent. Write that down. Proven talent means someone who has done the job before. Known talent means someone you know and thus trust to do the job. The opposite of proven and known is potential talent, like maybe they could do the job. And unknown talent, like maybe they're trustworthy. You want to err on the side of these two to the left. Now that's not always the case. And I'm going to teach you a few ways where if you don't know the person or you don't know that they're capable, you still optimize to have that best dog barking for you. Personally, I prefer proven talent. I don't like people to learn on my dime. That's my $0.02 there three step process that has helped me hire over 50 operators. Number one, I don't do job boards. I hate going wide to find operators. I think job boards are for lazy executives. At Fortune 500, we go sniper style up in here. You find your prey where they live. How do we do that? Step number two, your best bet is to steal the Hamburglar. Just in this instance. If I was in the market for a manager at my local auto shop, I would make calls asking to speak to the managers at a bunch of shops that surround mine. This is called reconnaissance. So let's try this real time so you can hear what it sounds like. Hi, can I speak to the manager please? Hey Dave, I'm Cody. So I hear that your stores run better than any other auto shop in the area. I'm actually looking for an operator to be the CEO of my auto store and I wanted to talk to you about it. You got two minutes. All right, cool. So a couple things really quick. Then I'll let you run. I think with my store you would definitely make more money than what you're doing right now, have skin in the game and potentially some upside. I know you can't talk about this right now with all your employees around you, but if I gave you my number, give me a call back at the end of the day and when you're outside the office, we could talk a little bit more if this is of interest. If not, don't worry about it. It was lovely to meet you and I'm sure I will be a customer of yours one day. Sound good? Okay, cool. Here's my number. That's how easy this is. You're going to get about three of the five people who are going to call you about 5:01pm I can almost guarantee it. What if you get zero calls back? No big deal. Then you take your car to the shops as a customer, you watch the managers inspect it, you chat them up, you see who's smooth at operations, customer service, running of their team. Then you slide a little business card in and you get them to call you at 501. Now you've got a couple operators in the hopper. I want you to remember one thing. The best predictor of future behavior is past behavior. You want to find out from these people who is the captain of their baseball team or a military officer. A previous leader. Skills are easier to teach than leadership. My hack is I love to find former military members and hire them as operators. Discipline, tendency to establish hierarchy and ability to make decisions under pressure. I just want to tape on my wall that like Navy SEAL motto, the only easy day was yesterday. You know, military crew ain't afraid of the dirty work. Oh yeah. Dangerous feeling. Dangerous. The secret, secret hack there is. Career transition programs for ex military personnel are a gold mine for finding talent. Most of the vet hires I've made were through friends or like the SEAL Future foundation or Goldman Sachs. Vet programs, that's where you find the players. All right, so you got your guy or gal. And now you're thinking, but Cody, how do I pay for this person? Don't worry, I got y'. All. This is how anyone, no matter what life situation you are in, can find an operator and pay them through the profits of the business. First, profit versus pay. You gotta make sure that the business that you own, start or buy has enough meat in it for you to pay somebody else to do the work that you don't want to do. That's called profit margins, AKA how much money they make as a business. And is it enough that you can hire a quality operator and still hit your personal profit goal? Let's break this down live. Let's say I'm buying an auto repair shop in Boston. I have $100,000 in profit to work with. How do I make sure that I can afford an operator in that 100k? Well, I go to this site like Glassdoor and I see, oh, in order to have an operating manager of an auto repair shop, I need $60,000. So I probably assume 70,000 so I can hire a person easily. That means that I have $30,000 left that I make without doing the work somebody else does it. That could be a great deal for you. Maybe you need A fatter deal. But now, you know, you go out to the market, you find what people are paid, you subtract that from the profits and that's how you know what's your return as opposed to their return. Here's the question you should be asking yourself. You're young, you're new. Have you met mechanics? Do you think they're gonna work for you when you have no hair on your chest? How do you get them to one word equity? They don't have it. You can give it. You are not the old generation keeping it all to yourself. You young guns are going to do it differently. I call this the pot sweetener. How much equity do you give someone? How much skin in the game or cash do you give them? These words are important. Grab that pen and paper. There's two things I want you to know about. Bonus based pay or an earn in for equity. Fancy words to say that if they make you X dollars in your company, they get paid y percent of those dollars, they make you $100,000. They might earn 10% of those hundred thousand dollars or the way I prefer to do it, that's called a revenue share, is a profit share. They make us $100,000 in the business top line, aka they sell $100,000 worth of stuff. But underneath it, how much money we keep from that $100,000 after expenses, et cetera is like $40,000, let's say. So they get a percent of the $40,000. That's called skin in the game or it's called bonus based pay or it's called a profit share. And most operators don't have them. But you're going to give it to them so they won't care about your missing chest hair. Is that chest hair real? You got your operator, you got their pay locked up. Now let's not up this deal, okay? Here's how you can royally screw up bringing on an operator. First, no 50, 50 deals. You and your best friend want to start or buy a business, somebody's in charge, somebody owns more. Second, prenups mandatory. All business partnerships eventually end and it makes the marriage rate in the US look cute. So don't screw around. Write down what is expected of who and what happens if they don't deliver. The other person takes their ownership if they deliver. That's called an operating agreement or a business prenup. Lastly, Russian proverb, trust but document. Sure you talked about what you want to do, but if you haven't written it down, if you haven't signed on the line that is dotted, it doesn't count. Remember this. People will always try to lecture you on why you can't have multiple businesses without spending all your day working in them. On how it's not possible. These people are right. In a way. They're right. But they're also dumb. They're right because they will never try it. You can if you hire operators. You can if you do the hard work upfront. You can if you figure out the way to find dogs and let them do the barking for you. Cause you'll never get rich doing what you're doing right now. Without ownership. You've got a lifetime until you're 65. And guess what? There's no pension at the end. By the way, if you own a business, we're buying $25 million worth of businesses this year. This link below here somewhere is for you to fill out a form that'll go straight to me and I will look at your business and decide if we want to invest in it or buy it from you. Don't suck. Don't fill it out if you suck.