Latest news with #winwin
Yahoo
19 hours ago
- Business
- Yahoo
'You're the One Holding the Bag': Codie Sanchez on the Mindset That Keeps People Broke
Small business guru Codie Sanchez regularly offers advice for people who want to acquire partial or full stakes in local businesses. She also dives deep into the mindset you need to win at business, but in a recent TikTok, she explored the one mindset that holds most people back. If you have this mindset Sanchez warns about, you can end up losing a lot of great deals and opportunities. Sanchez offered a blunt analysis for people who have this particular mindset about money and opportunities. "You're the one holding the bag," Sanchez stated. Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. She's talking about thinking that the world runs on a lose-win playing field. This mentality can result in missed opportunities, but if you have a win-win approach to business, you might grow faster than your competitors. Here's why that's the case. A lose-win money mindset can cause you to view every potential partner as an adversary. Having this mentality may cause business owners to make short-term gains that eventually result in burned bridges and limited future upside. It's also possible that some business owners reduce their goals in this type of environment. They may feel that setting big revenue goals requires that someone lose on the other end. For instance, a business owner who believes in a lose-win money mindset may be reluctant to charge what they are worth and underprice themselves in the process. You can be left holding the bag if you let people take advantage of your low prices, and a lose-win money mindset can steer you away from collaborations. These outcomes can hurt your motivation and result in your business and career slowing down. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. Sanchez goes on to explain that a win-win mentality can create more opportunities. You don't have to put yourself at a disadvantage to give your customers and business partners more advantage. Increasing your value is a win-win that allows you to earn more money while giving customers and business partners a better experience. Sanchez recommends determining the pain points that your customers and business partners have. Some people will happily pay top dollar to resolve those pain points, and you can be the person who provides the solution. If you solve big problems, more customers and business partners will come to you. Business owners do not have to solve every problem, but they can solve big problems within their zone of genius. Sanchez wraps up the TikTok video by encouraging people to discover their skills. You can write a list of everything you know well and then assess how you can make money from those skills. For instance, Sanchez mentions that she is good at marketing. After identifying that skill, Sanchez ponders how she can figure out how much that skill is worth and how to start offering it as a service. You can offer your skill as a product or service to customers or provide a service to a business owner in exchange for some equity. Sanchez enjoys the equity model because it allows you to receive a percentage of profits. Marketing is a valuable skill for people in Sanchez's industry because you need effective marketing to get a small business in front of more customers. If you master that skill, you can more easily scale a business and repeat the process with business acquisitions. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'You're the One Holding the Bag': Codie Sanchez on the Mindset That Keeps People Broke originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
16-06-2025
- Business
- Forbes
The People Business
The most successful entrepreneurs I know are all in the same line of work: the people business. I don't care whether you're a master plumber, a car dealer, a real estate broker, or a dentist managing multiple offices. If year after year, you're meeting uncommon success, you've honed the secret of the masters. You insist on only win-win outcomes. Meeting and surpassing the needs of everyone with whom you do business pays dividends that rival any you'd gain in the stock market. There's no better advice I give than to consistently impress people with what you're able to do for them. Make no exceptions – not for your clientele, your employees, your advisory team, nor your own family members. Wow them all, and then step back and watch what happens. It took me years to fully understand this notion and put it into practice. Not many get this concept right out the gate. Nearly everyone is taught to first look out for themselves. After all, abandoning our own needs is futile. I don't know anyone who wants to be a professional doormat. But isn't that funny? So often, a doormat is the first image that comes to mind when thinking about always doing right by others. However, if you feel like you're at risk of becoming a doormat, then you're not in the people business. I specifically mentioned win-win outcomes at the start. If you're a successful entrepreneur, you have to be one of the winners in every equation. There can be no losers. At the close of each transaction, everyone walks away happier as a result of the deal. Want to be the best game in town? Then your reputation must prove it. Nobody besides you unclogs drains faster, sells cars with better warranties, closes home sales with more favorable terms, or installs dental crowns that last longer and look and feel flawless. Such distinction isn't simply good business; it's mandatory for those who want a spot at the top. Sounds too simplistic? Realize then that you're not only focused on winning over customers – you must continually win over your employees just the same. After all, you need your staff to be exactly like you: eager to please, and hungry to win. That's why I interview every employee my company hires. If their eyes don't light up when I discuss these principles, they don't get an offer. I can't risk hiring a lethargic employee, not when my staff comes to work every single day like I do, enthusiastic about smashing goals and winning over clients. They won't put up with a lazy coworker, and I wouldn't ask them to. Perhaps not surprisingly, all of my business advisors exhibit this same principle. I refuse to associate with anyone who smells remotely unscrupulous. It's the kiss of death, the antithesis of the win-win outcome. Each expert in my inner circle works in harmony with one another, everybody in their respective lanes but in constant communication so as to address concerns as they arise. Nobody feels left behind, and we all give credit where it's due. Some onlookers downplay the significance of harmony in the workplace. They chalk up success to mere chance rather than effective cooperation. In their unfortunate misunderstanding, they do themselves a grave disservice. Collaboration is key. You can't possibly get where you aim to go without it. Nobody knows enough nor has enough hours in the day to go it completely alone. Neither can you claw your way to the top. If you try, you'll be seen as an enemy of the people, and the ones you've clawed over will eventually hunt you down. Only by your reputation and accompanying track record will doors open for you. You don't create the path. The path reveals itself to you the more effectively you engage with others. When embarking on your mission, don't lose your humility. You will mess up. Failure is inevitable, but it won't be the kind of failure that ends your career. Instead, it'll be the kind that propels you, yielding newfound clarity on how best to proceed moving forward. More than half the journey involves learning from your mistakes. A brief word of caution: Be especially mindful of what type of mistakes you allow yourself to make. Forgetting an important detail is a lot more forgivable than being dishonest. Never let your mistakes revolve around bad character. The same goes for your associates. Make no allowances for unethical behavior. If you're brand new to this way of thinking, it can be a bit overwhelming. I equate it to drinking from a firehose. There's a lot to take in, yet you can only process so much in one sitting. The great thing about the written word is that you can revisit it as often as you like. So if what I'm illustrating seems insurmountable, remind yourself that anyone can adopt these principles with sufficient practice. The way to success is rooted in logic. Create sufficient value for others, and they'll likely return the favor. You'll not only win their loyalty, but you'll earn good press. The best advertisement is when your clients sing your praises. Naturally, you'll do the same for your associates, considering that you insist on only working alongside the best. Hopefully, you can now see why it's called the people business. It's about much more than trading goods and services. It's dealing in good faith, high esteem, and absolute trust that the right people usher in the best outcomes. You know this to be true. You have ample evidence of what happens when people are less than dependable. The ball gets dropped, deadlines are missed, and resources dwindle. We've all experienced such madness. The way out? Resolve to take the lead. Expect no one to change until you do. If you're stuck, then look to others who appear to be thriving. Take notice of their work ethic, their attitude, their refusal to complain, and their unwillingness to settle for mediocrity within themselves. It's a tall order for anyone just starting out, but know that it's not a race. It's a daily practice. Conserve your energy. You'll notice an infinite array of outside forces intent on stripping you of it. Develop a daily routine that preserves your sanity, and stick to it. Your success is largely determined by your vitality. Figure out how to maintain it. Here's a hint: tend to your basic needs first. Don't depend on others to do that for you. They have their own well-being to manage. Hone those fundamentals, and then watch what type of people you naturally attract into your life. When you're a perpetual uplifter, when you consistently light up a room, you become a magnet for the best and the brightest. Highly successful people tap you on the shoulder to collaborate with them. They need you just as much as you need them, and the synergy that results generates untold future success. It all makes perfect sense. Hardly anyone disputes the importance of work ethic, craftsmanship, cooperation, and a positive attitude. What most fail to account for are all the distractions that exist to steal your attention and make you forget that you're first and foremost in the people business. If there's one thing you should protect even more than your reputation, it's your focus. When you control your focus, you control your mind. And when you control your mind, you control your mood and subsequently, your ability to uplift those around you to establish rapport among the very people with whom you most wish to collaborate. Disclosure: Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 200 Broadhollow Road, Suite 405, Melville, NY 11747, 631-589-5400. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Northeast Private Client Group is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License #0B36048, AR Insurance License #741545. Submission#: 7937217.1 Expires 5/2027 Material discussed is meant for general informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice. By providing this content Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity.
