Codie Sanchez Says Staying In Your Hometown Can Hurt Your Finances: 'You Need To Leave Your Hometown To Grow'

Small business expert Codie Sanchez regularly shares different strategies you can use to start and grow Main Street businesses. Starting and growing a successful company requires getting out of your comfort zone, and according to Sanchez, that may include moving out of your neighborhood.

"You need to leave your hometown to grow," she said.

Is your hometown holding you back, or is this take overblown? These are some of the things to consider if you want to grow your company and currently live in your hometown.

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Most Multi-Millionaires Move Out Of Their Hometowns

Sanchez explained in the TikTok video that she conducted a study that included thousands of people. She asked her X and Instagram followers if any of them had moved out of their hometowns for more than six months and experienced significant growth.

She proceeded to mention that only two people stayed in their hometown and achieved net worth in the millions of dollars. However, every other multi-millionaire she knew moved out of their hometowns. 

We don't know which states were the hot spots for the people who moved out of their hometowns. However, some states make it easier to meet new people and build connections than others. Some people live in cities, so it's easier for them to expand their networks. 

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No One Anchors You To Your Past Self

When you move out of your hometown, you are starting fresh. This new beginning can be life-changing for people in small hometowns, especially poverty-stricken neighborhoods. 

A low-income neighborhood may encourage you to stay at that level, whether directly through conversations or indirectly based on seeing how people conduct themselves. However, you can create a new story and identity around the type of life you want to have if you move to another area. No one can bring up anything in your past or point to your hometown to hold you back from greater success.

You can set ambitious goals like retiring 10 years early or having a six-figure income if you thrive on the energy of a vibrant area. If you're surrounded by ambitious people, you may be inspired to boost your income and invest a higher percentage of every paycheck. While you'll have additional expenses if you move out of your hometown, the personal and career growth from making that move can be well worth the cost.

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You Can Become A Brand New Human

Sanchez explains that you can "become a brand new human" if you move out of your hometown. You will have to take care of yourself, go from knowing no one to making new friends, and enjoy new experiences. 

There are many exciting opportunities outside of your hometown. Establishing yourself in a community outside of your hometown can also build your confidence since you know you can remake yourself in any area. 

Sanchez has lived all over the world with her husband and recently moved to Austin, Texas. She has a lot of experience with leaving her hometown and reinventing herself. If you're looking to achieve big goals, changing your location for a few months may help, especially if you've never done it before.

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