You’ve Gotta Know!

When was the last time you diligently worked out your monthly budget or tallied up the number of tasks you completed in the past week/month? If I had to guess, probably rarely or never. As the old adage goes, “Knowledge is power”. How are you supposed to make better decisions going forward, or determine what is working vs. not working? This information is crucial to understanding how you can get your desired results.

Same thing goes with updates to your home, or calculating ROI for your clients when presenting the listing presentation. If you cannot determine, based on past metrics, what is likely to work or not work, you are at a significant disadvantage. Too many business go bankrupt due to lack of this knowledge, or poor “Money Math”. They compete solely on price, hoping to get a large number of customers in their doors, only to realize later on that they were losing money on all of said customers. Don’t be this person.

It is your DUTY to understand what is working or not working, and make better decisions going forward. The late greats Charlie Munger and Warren Buffett always ask the question: If you could only make 5 investments in your entire life, would you be more careful about the analysis?