Why focusing on profitability is the wrong approach

  • There are three situations when you need to make gross commission income more important than profit to get the profits you want.
  • Focus on revenue when: you’re a new real estate agent, when you have no pipeline for future deals or when the market is bad.
  • There are only two goals in business: revenue and profit. And successful professionals know when to focus on one over the other.

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Now, as an entrepreneur who’s built three profitable brands, I see two errors that are common among many business owners and professionals, not just real estate agents.

First, you do not make more money by spending less. You might keep more money by spending less, but you absolutely do not make more. This is slightly semantics, however, if you are saying this in your mind, you are feeding yourself a wrong message. Therefore, I won’t go into detail on this concept.