Quit Playing Business and Start Making Money

Playing-Business-Real Estate InvestingI am a huge fan of many things playful. I love playing games, playing sports, playing cards. I even love listening to professionals play music. One thing I am not fond of is playing business.

“Work with no profit is like eating soup with a spoon.”

The number 1 goal of any business is to generate profit. Let me repeat – profit is goal number 1.

If you are in the Real Estate business to help people, improve communities, or feed the hungry, that’s great. I commend you for your empathy. But those motives need to take a back seat. They are the secondary focus of your business.

Profit is what allows you to do what you want to do. Help people. Improve communities. Feed the hungry.

Just make sure the first focus is profit.

During a coaching call last week I got the most convincing impression of a successful Real Estate tycoon from one of my students. His letter head was sharp. His website was Techie. His marketing pieces were witty. He even had an exception business plan laid out with explicit detail.

He had all of this before he’d even done his first deal.

As I discussed the health of Ron’s business and talked to him about where he was spending his time investing, it struck me. Ron was playing business.

When I asked how many offers Ron had made in the past month, he told me about the edgy marketing piece that he’d sent out. When I asked about the success of the marketing piece, he asked about marketing for more buyers. When I asked about how many deals he had under contract, he changed the subject again.

Our discussion reminded me of a similar conversation I’d had a few years ago. At the time I was the student looking for my next deal.

If you have ever started a new business venture on a shoe string budget, you know that as a business owner you wear a lot of different hats. Some business owners tend to prioritize those things that make their business look professional over tings that actually bring in revenue. Instead of actually doing business, a lot of people are just playing business.

I’ve been there. I’ve done that. But then I got my wake up call.

If you’re guilty of playing business, consider this your call to action.

There’s a time to focus on your company’s image. There’s a time to decide how your company is going to help the world. But that time comes after you’ve got plenty of profit coming in the door. Until then, stop playing business and start making money.