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- Jul 23, 2013
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Tired of Get-Rich-Quick BS? This is How to ACTUALLY Build Wealth
Scrolling through Instagram, it's hard to escape the relentless onslaught of #entrepreneurlife, where Lamborghinis gleam, influencers sip champagne on private jets, and promises of "six-figure months from your couch" saturate every feed. The message is clear: wealth is just a click—and a clever dropshipping scheme—away. Eighteen-year-old Alex, like countless others in his generation, finds himself ensnared in this seductive illusion, bouncing between online gigs, driven by the insatiable hunger for financial freedom. But the promised riches remain frustratingly elusive, leaving behind a bitter taste of disappointment and a mountain of credit card debt. For millennials and Gen Z, the financial struggle is real—student loan burdens, soaring living costs, and a gig economy that often feels more like a treadmill than a pathway to prosperity.But what if achieving true wealth requires a different approach, one that transcends the allure of overnight riches and focuses on patient, strategic growth? In a refreshingly honest interview on “The Diary of a CEO” podcast, financial expert and multi-millionaire entrepreneur Codie Sanchez shatters the “get-rich-quick” myth, offering a more grounded, sustainable framework. She outlines three powerful principles, likening the path to financial independence to a calculated climb up a mountain. Forget the flashy shortcuts—true wealth requires a long-term vision, persistent effort, and an unyielding resilience that weathers any fleeting trend.
Step One: Seek Your Sherpas – Mentors Matter More Than Money
“As often as possible,” Codie asserts, “you want to be around people who are richer than you." But her emphasis isn’t about envying lavish lifestyles; it’s about tapping into the power of mentorship, embracing the concept of "economic interconnectedness." Countless studies demonstrate that simply being in proximity to those who've achieved financial success can dramatically impact your own financial trajectory. Whether it's absorbing their mindset, gaining insights into lucrative industries you might not know exist, or recognizing valuable opportunities most overlook, their wisdom, quite literally, rubs off.
Alex, trapped in the echo chamber of online quick fixes, craved financial freedom but lacked a map. A pivotal shift in his thinking emerged from an unexpected source: a captivating documentary chronicling an Everest mountaineer's arduous journey to the summit. It wasn't about raw talent or luck; the climber's success stemmed from meticulous preparation, strategic planning, and most importantly, partnering with veteran Sherpas who had already navigated the treacherous path. Alex recognized a powerful parallel—to reach his financial peak, he needed guidance, not just information.
Finding the right mentor, however, isn’t about hounding celebrities with generic emails or offering to "make coffee." As Codie suggests, the key lies in offering value first, in showcasing your own unique abilities to potential mentors. Instead of chasing clout, Alex honed in on a practical, value-driven approach. Using his developing web design skills, he reached out to Sarah, a local entrepreneur who had built a thriving landscaping business but whose online presence lagged behind her success. Sarah, engrossed in the daily demands of her venture, had neglected her company’s outdated website. Alex offered to revamp her site, recognizing a critical gap he could bridge with his own expertise.
While his friends scoffed, drawn to the "easy money" allure of trending online schemes, Alex embraced Sarah’s company, transforming her website into a modern, compelling portal. It wasn’t a shortcut—it was a doorway to an invaluable apprenticeship. He experienced firsthand the dynamics of a successful business: analyzing profit margins, witnessing the intricacies of client acquisition, and gaining firsthand insight into how deals are structured. These lessons transcended theory, grounding themselves in real-world experience far richer than any online course. Sarah, in turn, became more than just a client; she became Alex’s sherpa, offering her wisdom through casual conversations, real-time problem-solving, and day-to-day business decisions. Sarah’s company was a living classroom: the scent of fresh earth mingling with the hum of landscaping equipment, the vibrant colors of newly planted flowers contrasting with the stark white of Alex’s computer screen—this was tangible, real, and deeply engaging.
The Currency of Control: Embracing Ownership as Your True Path
Codie firmly believes in the liberating power of ownership as the foundation for lasting wealth. "The only way to have freedom," she states, “is through ownership." This message urges a paradigm shift for many young professionals. Instead of clinging to the predictability—and limitations—of a salary, she advocates for actively pursuing paths to owning assets.
While ownership, at first glance, may conjure up visions of vast corporate empires, Codie embraces a broader, more attainable definition—a spectrum ranging from buying small rental properties to acquiring ownership stakes in promising businesses. Alex, learning from Sarah, internalized this empowering reframing. He began to see that true ownership, particularly in the early stages of one's career, isn’t necessarily about holding the reins of a massive corporation. It’s about having "skin in the game"—building something real, controlling a part of a successful venture, however small that initial piece may seem. It’s a far cry from the fleeting excitement of an online side hustle or the gambler's thrill of a crypto bet.
Beyond potential financial rewards, owning an asset provides an unparalleled sense of agency. It’s about steering your income potential, aligning your efforts with your values, and controlling a tangible part of your future. Alex's frustration with low-paying online gigs stemmed from this lack of agency, a constant feeling of being a cog in someone else’s machine. However, as he poured his skills and dedication into Sarah's landscaping venture, he began to sense a profound shift. His compensation became more than just a paycheck; it was a stake in a flourishing business, a testament to his own contribution.
"Wealth," as Sarah advised him one afternoon, "is a climb, not a lottery ticket." It’s about choosing a path, and owning every step—from mastering a skill set to finding a mentor to weathering the doubts.
Maximizing Your Seed: Strategic Skills Are Your Path to Growth
Codie’s final principle is deceptively simple, yet profound in its implications: Identify your “unfair advantage," those skills or talents you naturally gravitate towards, and strategically deploy them in markets where their value is highest. She uses a simple yet effective analogy, “You could either meticulously create an incredible product once, or you could spend the rest of your life marketing and selling an unremarkable one.”
For Alex, this concept provided the final piece of the puzzle. Initially, he saw his web design abilities as a way to pay bills while yearning for a “big break.” Under Sarah’s mentorship, he began to reframe those skills as leverage—an opportunity to solve specific, high-value problems within industries that rewarded expertise. Codie champions the idea of finding that thing you are “obsessed with, not merely interested in."
“What are you researching at 3:00 a.m. when you should be asleep?” she asks, encouraging individuals to pinpoint their deepest passions and strategically align those interests with meaningful, potentially high-paying work. For Alex, it wasn’t just about being a “good” web designer—it was about specializing, becoming the best in his niche. Sarah's world became a perfect testing ground. While social media management gigs promised low returns, the demand for digital marketing expertise within the growing sector of high-end landscaping companies was insatiable. And they were ready to pay a premium for his unique talents.
This commitment to maximizing his skillset led Alex to restructure his compensation demands. He shifted his focus from an initial salary to equity, recognizing that building enduring value within Sarah’s company offered far greater returns in the long run. Inspired by Codie’s philosophy, Alex transformed into a “top performer," not by sheer luck or ambition, but by emulating Codie's key observation: those who consistently excel are marked by a "lack of patience for wasted time.” Their communication is concise, decisions are swift, and actions are taken before doubts and uncertainties have a chance to creep in.
Building Your Financial Mountain: A Legacy Brick by Brick
Codie Sanchez's approach to wealth building, with its core tenets of mentorship, ownership, and strategic skill development, provides a powerful antidote to the pervasive "get rich quick" noise. It resonates with Alex, offering not a guaranteed "hack" to fortune but a map for navigating the often-turbulent world of finance. Her framework challenges the culture of instant gratification, highlighting the long-term benefits of embracing deliberate effort, seeking wise counsel from those who have “already climbed the mountain," and diligently crafting a skill set so exceptional that your value is irreplaceable.
The image of the Everest mountaineer embodies this principle perfectly—the slow, relentless pursuit of a challenging goal, one arduous step at a time, fueled by a vision that extends far beyond the horizon. Like each strategic move a climber makes, every skill learned, each mentorship sought, and each act of owning a part of a successful venture builds upon previous efforts, solidifying the foundation for a fulfilling, financially secure future.
And as Alex surveys his creation—the vibrant online presence that showcases Sarah's flourishing landscaping business, nurtured by his own evolving talents and "obsession for excellence," a different kind of richness fills his eyes. It's not just the allure of potential wealth; it's the deep satisfaction of being part of something real, something he’s helped build, a testament to the power of choosing the long, deliberate climb, a path where Lambo dreams fade against a horizon of lasting success.