#88 Why Playing Small Is Keeping You Broke - BigDeal Recap

Podcast: BigDeal

Published: 2025-08-18

Duration: 25 min

Summary

In this episode, Cody Sanchez discusses how women can overcome self-limiting beliefs in business and the importance of aiming higher for financial success. She emphasizes that by shifting mindsets and focusing on building larger businesses, women can break free from the constraints of playing small.

What Happened

Cody Sanchez begins the episode by addressing the significant underrepresentation of women in business acquisitions, citing that they currently make up only 2% of buyers despite owning 40% of businesses. She encourages women to reject the negative narratives that hold them back, asserting that they possess immense power. Sanchez stresses the need for women to start believing in their potential and to aim for building larger businesses rather than settling for lifestyle brands.

Throughout the conversation, Sanchez shares her insights on the importance of mindset and ambition in business. She poses the question of why she should only strive to create one million business owners when the goal could be much larger. Drawing from her experiences in venture capital, she points out that many women build lifestyle businesses, which often leads to financial instability. She advises that aiming for a bigger goal can lead to unexpected successes, urging her listeners to have a buddy who can encourage them to think bigger and push beyond their limits.

Cody lays out her criteria for evaluating potential business acquisitions, emphasizing the importance of purchasing established, profitable businesses rather than projects that require extensive renovation or transformation. She advises listeners to look for businesses that have been operational for over five years, are cash-flowing, and have some form of leverage in terms of financing. By adopting a strategic and informed approach to business acquisition, individuals can set themselves up for success and avoid the pitfalls of playing small.

Key Insights

• Women often hold themselves back with negative self-stories about their capabilities in business.
• Aiming for bigger business goals can lead to greater success than settling for smaller, lifestyle businesses.
• Cody Sanchez emphasizes the importance of mindset, encouraging women to believe in their power and potential.
• A strategic approach to business acquisition involves focusing on established, profitable businesses to ensure success.

Key Questions Answered

Why do so few women participate in business acquisitions?

Cody Sanchez highlights that women currently represent only 2% of business acquisition buyers, which is stark given that they own 40% of businesses. She attributes this gap to negative self-perceptions and societal narratives that discourage women from negotiating and pursuing larger business ventures. To change this dynamic, Sanchez advocates for a mindset shift that empowers women to recognize their strengths and capabilities.

What mindset changes does Cody Sanchez suggest for women in business?

Sanchez encourages women to discard victim narratives and embrace their power. She believes that many women fall into the trap of thinking they should settle for smaller business goals. By promoting a more ambitious outlook, she suggests that women can significantly increase their potential for wealth and success. This includes believing in collaborative growth with men and asserting their place in the business landscape.

What criteria should women consider when acquiring a business?

Cody shares her personal rules for evaluating potential business acquisitions. She emphasizes the need for the business to have been operational for more than five years, to be profitable from day one, and to have some leverage in financing. Additionally, she stresses that the business should be simple enough to explain and that the buyer should be genuinely interested in it to foster long-term engagement.

What is the difference between lifestyle businesses and scalable businesses?

Sanchez points out that many women tend to create lifestyle businesses that often lead to financial limitations. She explains that aiming for a larger, scalable business can sometimes be easier than trying to grow a small one, as the latter can turn into a job rather than a sustainable venture. By thinking bigger, women can unlock opportunities for substantial growth and income.

How can women support each other in business ambitions?

Cody suggests that having a supportive peer or 'buddy' can help women challenge their own limiting beliefs and encourage them to reach for larger goals. By surrounding themselves with people who push them to think bigger, women can break the cycle of playing small. Sanchez believes that this camaraderie is vital for fostering a culture of ambition and success among women in business.