How to Build a Business That Makes Money Without You

**SPEAKER_1** (0:01)
The new Red Bull Dragonberry Energizer is now at McDonald's, made with freeze-dried dragon fruit, and made to lock in. The all-new Energizer, now at McDonald's.

**Codie Sanchez** (0:15)
There is one question that tells me immediately whether you run a great business or not. When was the last time you, the owner, or an important employee took a vacation? If you're proudly saying something like vacation, I don't take vacations, I grind, this place needs me, then your business is probably not a business, it's a job. So today, I'm gonna give you all the secrets, the juice. So whether you work for somebody else or you work for yourself, you can steal them and implement them in your lives. We got the three paths every business is on right now, whether you know it or not, and the five lies that keep businesses chained to you. I'm Codie Sanchez, this is the BigDeal Podcast. Let's get into it.
Really quick, September 18th, every single thing you see in this episode, I'm going to talk about live at the biggest event I've ever done in my whole life. I'm going to give you $1 million free in cash and prizes for people to win. Every single person who comes will get something from me that has helped me make my first six and seven figures. I'm going to walk you through how this book will help your life. There's a question I ask everybody in business. I want you to answer it honestly.
If your business lost you tomorrow, would it be a Tuesday or a funeral? Picture it like you step back from your job or team for two weeks. Does the machine keep humming or does it seize up, freeze and are you getting nonstop slacks? The idea is I want to tattoo this line on the insides of your eyelids. If it can't survive without you, you don't own a business, you own a job. A bad one at that with a terrible boss and probably a salary where you pay yourself last. I've got this gut check and I call it, are you the lifer? Five yes or no statements. One, you haven't taken a full week off in two years. Two, your work hours and your personal hours have blurred into one long smear. Three, your closest relationships took a backseat to the business and everyone involved knows it. Four, your business has quietly replaced most of your life outside of it. Five, selling or closing the business would feel like losing part of your soul.
Count your yeses. Three or more, you're not an owner, you're an inmate. That's okay because I know you might tell me it's fine, the business is doing well, I love my job. All of that is great. But if you want to make more money, then you need to make sure you are replaceable actually, whether you run the business or not. Because most people in business fail. Seventy to 80 percent of businesses will never actually sell, they're even listed for sale. Seven to eight out of every 10 owners who walk into the market to sell something, walk home with nothing.
We should know I own one of the biggest buying and selling business marketplaces in the world called Biscout. When we look at the autopsy of these dead businesses, the number one reason, owner dependency. It's also why you won't get promoted in your job. Because if you can't build a team, then why would they give you more money and more opportunity and more people to manage and hire? So just because you are an owner doesn't mean that you actually have a business. The thing is, buyers don't buy jobs. They buy machines that make them money, whether you, the previous owner, shows up or not. People don't give you more money if you are the entirety of a division or a group. If the whole operation lives in your head, there's really nothing on the table to purchase or to pay you more for. So your freedom problem is also a valuation problem.
And at some point you see it, you know, you don't own this thing, it kind of owns you. And then here's the question that should really pause you and maybe make you a little angry.
You got into this business to set yourself free. So why does it have you by the throat? Like I can just picture the objection, right? So like, all right, fine, Codie, I'm chained to it, but these chains are made of gold. I love it. You know, once the number gets big enough, I'll buy my way out. Super cute in theory. But science has basically said that that's not what happens. So what does money actually buy?