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The SECRET to having a 4 hour work week
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The SECRET to having a 4 hour work week

How to Own a Business and Make More Money in Less Time

In this section, the speaker introduces the idea of owning a business and making more money while working fewer hours. They emphasize that the amount of time worked does not necessarily correlate with earnings.

The Misconception of Time and Money

  • The speaker highlights the misconception that working longer hours leads to higher earnings.
  • They mention Warren Buffett as an example of someone who only works a few hours a week but earns significantly more than others who work longer hours.
  • The speaker challenges the belief that success is solely based on hard work and suggests that ownership is key.

Benefits of Ownership

  • The speaker explains that although high-paying jobs can provide good income, they cannot be sold or passed on to future generations like businesses can.
  • They express their intention to teach listeners how to become owners and reap the benefits of ownership.

Overcoming Obstacles

  • Acknowledging potential objections, the speaker addresses concerns about lack of time or knowledge about running a business.
  • They encourage listeners to challenge their beliefs and consider alternative possibilities for achieving financial success.

Taking Risks and Becoming an Owner

In this section, the speaker emphasizes the importance of taking risks and becoming one of the few who take action instead of being cautious. They share examples of individuals who have achieved significant success by becoming business owners.

Embracing Risk-Taking

  • The speaker shares a quote from one of their friends who became successful by buying businesses: "Instead of saying be careful, they say let's go."
  • They encourage listeners to break free from working for others until retirement age and instead become part of the group that takes risks and runs the world.

Success Stories

  • The speaker mentions Ron, who went from having no money to generating eight million dollars in revenue by purchasing businesses with zero down payment.
  • They highlight the lack of discussion around these success stories and aim to change that.

The Power of Operators

In this section, the speaker introduces the concept of operators and explains how they can enable business owners to have someone else run their businesses. They emphasize the importance of finding the right operators for success.

What is an Operator?

  • The speaker defines an operator as someone who allows them to own multiple businesses while cash flow continues.
  • They mention Warren Buffett's use of operators and how it enables him to have time for his daily routine, such as visiting McDonald's.

Becoming a Bridge to Success

  • The speaker emphasizes that becoming an operator can help save small businesses from closing down permanently.
  • They position listeners as potential bridges between business owners and a successful future.

Learning from Warren Buffett and Charlie Munger

  • The speaker highlights Warren Buffett's realization that he needed operators to become a billionaire, leading him to partner with Charlie Munger.
  • They explain how Charlie Munger operated Buffett's deals and eventually hired others like him, emphasizing the importance of not micromanaging when hiring operators.

Case Studies: Finding Operators

In this section, the speaker shares case studies on finding operators. They provide examples of individuals who have successfully scaled their businesses by hiring capable operators.

Lisa - Mini Mailbox Business

  • The speaker introduces Lisa, who scaled her mini mailbox business while running three other companies.
  • Lisa hired cocktail waitresses from the Vegas Strip as operators, leveraging their quick learning skills and natural hustle.
  • This decision resulted in significant financial success for Lisa, earning her over $250,000 per year.

Cody as a Nepotist

  • The speaker shares their personal approach of hiring family and friends as operators.
  • They mention their husband running a venture fund, their brother managing an Airbnb business, and their mother handling the books in their first business.
  • This strategy has been successful for them, generating six to seven-figure incomes.

Finding the Right Operator

  • The speaker advises finding operators who are either proven or known talent.
  • Proven talent refers to individuals who have previous experience in the job, while known talent refers to people you trust to do the job well.
  • They caution against relying on potential or unknown talent unless necessary.

Optimizing Operator Selection

In this section, the speaker discusses ways to optimize operator selection when proven or known talent is not available. They share personal preferences and considerations for choosing operators.

Preference for Proven Talent

  • The speaker expresses a preference for hiring individuals with proven talent rather than those who need to learn on the job.
  • They emphasize not wanting people to learn at their expense.

Setting Clear Expectations

  • The speaker highlights the importance of setting clear expectations for operators regarding what constitutes success and failure.
  • Clear communication helps ensure alignment and increases the chances of success.

Conclusion

The transcript provides insights into owning a business and making more money while working fewer hours. It emphasizes that time worked does not necessarily correlate with earnings and encourages listeners to become owners. The concept of operators is introduced as a way to have someone else run businesses, allowing owners to focus on other ventures. Case studies highlight successful examples of finding capable operators. The importance of selecting proven or known talent is emphasized, along with setting clear expectations for optimal results.

Finding a Manager for Your Auto Shop

In this section, the speaker discusses the process of finding a manager for an auto shop through reconnaissance and making phone calls to other shops.

Conducting Reconnaissance

  • Start by making calls to speak with managers at surrounding auto shops.
  • This process is called reconnaissance.
  • By speaking with other managers, you can gather information and potentially find a suitable candidate for your own shop.

Example Phone Call

  • Introduce yourself and ask to speak with the manager.
  • Mention that you have heard positive things about their store's operations.
  • Express your interest in hiring an operator for your own auto shop.
  • Offer potential benefits such as increased earnings and shared ownership.
  • Provide your contact information and suggest calling back at the end of the day when they are outside the office.

Getting Calls Back

  • Expect around three out of five people to call you back around 5:01 PM.
  • If you receive no calls, visit their shops as a customer and observe their managerial skills before leaving them your business card.

Hiring Former Military Members as Operators

The speaker shares insights on hiring former military members as operators due to their leadership skills and discipline.

Leadership Skills of Former Military Members

  • Former military members often possess valuable leadership skills.
  • Look for individuals who have served as captains or officers in their previous roles.
  • These individuals tend to have experience in establishing hierarchy, making decisions under pressure, and working well within a team.

Finding Talent through Career Transition Programs

  • Career transition programs for ex-military personnel are excellent resources for finding talented individuals.
  • Examples include programs offered by organizations like the SEAL Future Foundation or Goldman Sachs vet programs.

Paying for an Operator through Business Profits

The speaker explains how to pay for an operator by ensuring the business has enough profit margins and considering bonus-based pay or equity.

Profit Margins and Affordability

  • Ensure that your business has enough profit margins to cover the cost of hiring an operator.
  • Calculate the amount you can afford to pay based on the profits generated by the business.

Determining Pay Structure

  • Research industry standards for paying operators in similar roles.
  • Subtract this amount from your business's profits to determine what you can offer as compensation.
  • Consider bonus-based pay or a profit share arrangement where the operator receives a percentage of the profits they help generate.

Offering Equity as Incentive

  • To attract quality operators, consider offering them equity in the business.
  • This provides them with a stake in its success and motivates them to contribute their best efforts.

Bonus-Based Pay and Equity Options

The speaker discusses different options for bonus-based pay and equity arrangements when hiring an operator.

Bonus-Based Pay or Earn-In for Equity

  • Offer a bonus-based pay structure where operators receive a percentage of the revenue they generate for the company.
  • Alternatively, consider an earn-in for equity approach, where operators earn a percentage of company ownership based on their performance.

Revenue Share as Profit Sharing

  • Implement a revenue share model where operators receive a percentage of the profits generated by the business after deducting expenses.
  • This ensures that both parties have aligned interests in maximizing profitability.

Conclusion

Finding a manager for your auto shop involves conducting reconnaissance, making phone calls, and offering attractive incentives such as increased earnings and shared ownership. Hiring former military members can bring valuable leadership skills to your team. When paying for an operator, ensure your business has sufficient profit margins and consider bonus-based pay or equity options. By offering incentives like bonus-based pay or equity, you can attract and retain quality operators who will contribute to the success of your business.

Setting Expectations and Ownership

The importance of clearly defining expectations and ownership in business agreements is discussed. A Russian proverb emphasizes the need to trust but also document.

Defining Expectations and Ownership

  • It is crucial to write down what is expected of each person involved in a business agreement.
  • If someone fails to deliver, the other person should take ownership of the task.
  • This can be formalized through an operating agreement or a business prenup.
  • Trust is important, but it is equally important to have everything documented.

Importance of Written Agreements

The significance of having written agreements and signing on the dotted line is highlighted.

Written Agreements Count

  • Merely talking about plans and intentions is not enough; they must be written down.
  • Signing on the dotted line validates the agreement.
  • Verbal agreements hold no weight if they are not documented.

Taking Ownership for Success

Taking ownership and doing the hard work upfront are essential for success in business.

Owning Your Business Journey

  • People who claim that running multiple businesses without working in them all day is impossible are often those who never try it themselves.
  • By hiring competent operators and putting in hard work initially, it becomes possible to run multiple businesses successfully.
  • Finding capable individuals who can handle tasks allows you to delegate responsibilities effectively.
  • Without ownership, it's unlikely to achieve significant wealth or have a secure retirement plan.

Investing in Businesses

An invitation to submit business proposals for potential investment or acquisition is extended.

Opportunity for Investment or Acquisition

  • The speaker mentions their interest in buying $25 million worth of businesses this year.
  • A link is provided to fill out a form for business owners interested in having their business considered for investment or acquisition.
Video description

Want to learn how to buy a business? (Free Consult): https://contrarianthinking.biz/youtubefam Learn Main Street ways to make Wall Street cash in my FREE weekly newsletter. Get it here: https://contrarianthinking.biz/yt-lg The amount of time you work does not HAVE to correlate to how much you earn. If you’re smart about it. We’ve all heard of people who make money while working only 4-10 hours per week. I see comments saying that’s impossible. AND it is DAMN hard. But here’s the thing: you can get there, with work upfront to set you up. I’m going to show you how to do it in this video with a bit of up-front legwork, and a sprinkle of ingenuity. The richest people in the world didn’t get there by ice bathing. Eventually you have to break the mold and become an owner of something. And once you do, you need one crucial ingredient: hiring operators. I’ll tell you what an operator is, how to find a good one, and how you can replicate this success to grow your other businesses. Have you ever owned a business (or even worked at one) where things ran smoothly? Why do you think it worked? Comment below! ----------------------------------------------------- Hi... I'm Codie. If we haven't met, I build and buy businesses and help you make money. I used to work on Wall Street and in Private Equity for too many years. Then I realized I'd rather YOU AND I own our businesses locally instead. So I built up Main Street Holding Company, Contrarian Thinking Capital & Co. Now, we own and grow dozens of businesses. My mission is to create 100,000 business owners and help 1 million of us build profitable businesses. I hope you’re one. Here's what I know for sure... those who say it's impossible should get out of the way of those of you who are doing it!! ❤️ If you want to grow your business... we got you: https://contrarianthinking.co/scaling-workshop/ If you want to buy a business... we help here: https://contrarianthinking.co/our-courses/ If you want a free guide on how... it's right here: https://info.contrarianthinking.co/smart-buyers-guide ---------------------------------------------------- The BE AN ADULT SECTION 🤗 All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links. Copyright © Contrarian Thinking LLC 2025.