Why Working Harder Won’t Make You Rich - Codie Sanchez - #1145

About this episode

Codie Sanchez is an entrepreneur, investor and author. How do you make your business work for you instead of constantly working for your business? Stepping back is often mistaken for putting in less effort, but what if your company could operate better with less dependence on you? How do you build a business that runs smoothly without your constant involvement, and what steps can you take to make that possible? Expect to learn the truth about getting rich, why most business owners need to step back rather than dive in more, how to get the most out of your staff, whether you will be able to trust AI to run your business or not, why suffering feels so productive, how to relinquish control of your business for the best outcomes and much more… Sponsors: See discounts for all the products I use and recommend: ⁠https://chriswillx.com/deals⁠ Get 35% off your first subscription on the best supplements from Momentous at https://livemomentous.com/modernwisdom Get a Free Sample Pack of LMNT’s most popular flavours with your first purchase at https://drinklmnt.com/modernwisdom Get 160+ lab tests for just $365 and save an extra $25 at https://functionhealth.com/modernwisdom Get the brand new Whoop 5.0 and your first month for free at https://join.whoop.com/modernwisdom Get ChatGPT to explore ideas, solve problems, and learn faster at ⁠https://chatgpt.com See me live in the UK & Ireland this October: ⁠https://chriswilliamson.live/⁠ Timestamps: (00:00) The Biggest Lie About Getting Rich (02:45) Should You Start Your Own Business? (05:37) Why Codie Turned Down Richard Branson (07:35) When Responsibility Is Really Just Ego (08:44) The Evolution Every Business Owner Goes Through (15:45) How to Get the Best From Your Staff (19:49) When Does an Owner Know to Relinquish Control? (28:40) Is AI Important for Small Businesses? (37:42) The Secret to Finding Great Employees (41:59) The Biggest Hiring Mistakes to Avoid (43:24) The Best Questions to Ask Candidates (56:53) How Does Slowing Down Affect Your Identity? (01:05:50) How to Approach the Hard Conversations (01:08:21) The Jobs Founders Need to Stop Doing (01:11:31) Are Pricing Problems Really Confidence Problems? (01:18:01) When Should Founders Start Paying Themselves More? (01:27:56) How to Move Into an Owner Role (01:31:26) What’s Next for Codie? Extra Stuff: Get Codie's new book here: https://ownerbook.com Get my free reading list of 100 books to read before you die: ⁠https://chriswillx.com/books⁠ Try my productivity energy drink Neutonic: ⁠https://neutonic.com/modernwisdom⁠ Episodes You Might Enjoy: #577 - David Goggins - This Is How To Master Your Life: ⁠lnkfi.re/SN-Goggins⁠ #712 - Dr Jordan Peterson - How To Destroy Your Negative Beliefs: ⁠lnkfi.re/SN-Peterson⁠ #700 - Dr Andrew Huberman - The Secret Tools To Hack Your Brain: ⁠lnkfi.re/SN-Huberman⁠ - Get In Touch: Instagram: ⁠https://www.instagram.com/chriswillx⁠ Twitter: ⁠https://www.twitter.com/chriswillx⁠ YouTube: ⁠https://www.youtube.com/modernwisdompodcast⁠ Email: ⁠https://chriswillx.com/contact⁠ - Learn more about your ad choices. Visit megaphone.fm/adchoices