Re: The Numbers
What’s the common thread that runs through the TV shows “Shark Tank” and “The Profit?”
Successful people pay attention to the numbers.
It’s how we keep score in business. (Per Kevin O’Leary)
Marcus Lemonis, the star of “The Profit” will tell you “”Control your cash, stick to your core business, and know your numbers.”
Or how about this exchange on Shark Tank in 2009 –
Sometimes I laugh at these shows. How could they not know that the poor guy was barely getting started, or that he was generating so little business?
The reality for us is – in our business – $4500 can be made in a day. A commission on a sale, or a wholesale deal is all it takes to generate 5, 10 even 20k.
Especially here in the DC area.
Which brings me to this slide you will see in the slide deck tomorrow night:
When you know your numbers you know that getting one person to fill out a form, or simply land on a page has benefit to your bottom line.
If the case above – if you can close 1 out of 9 people – what is the value of that customer to you?
Will you make 5k from a commission or 30k renovating and flipping a house?
You’ll notice this is a snapshot from this week? When I had a conversation about this particular slide last night – it kept me up.
Yup. Couldn’t sleep much last night.
That’s the good thing about getting your creative juices going. It tends to lead to progress in your business.
I hope you join us tomorrow night. Especially if you like to combine both the numbers and the creative side of our business.
You’ve been warned though – especially if you’re the creative type – some of the slides might keep you up.
You can grab a seat for next Monday night or become a WREIA member here.
FOCUS and make 2017 a great year for your business!
Let me know how I can help you,
Washington REIA Network, President
Profitable Property, Founder
P.S. Interested in a lender or construction partner for your project? We lend to and partner with people all over the DC area. Call the office and lets set up a time to talk through or walk through your project.