Joe: Hey, what's going on? Joe McCall here with my good friend Tom Krol.

Tom: Bam.

Joe: Wouldn't it be nice if you never had to worry about making money? What do I mean by that? Well, I'm talking about what if you never had to worry about having or running a profitable business? What if your business was always profitable. Is that possible?

Tom: It's absolutely possible.

Joe: It's absolutely possible. We're going to talk about that on this video. We're now Tom. Tom Krol, good friend of mine. I remember your brother calling me when you wanted to get into real estate saying, hey, have you ever coached a brother before on how to do real estate deals? The only advice for me and I said, no, good luck with that.

Tom: Don't do it. I'll do it.

Joe: I didn't say that.

Tom: Right.

Joe: You know, you hit the ground running Todd Toback is this friend of mine, by the way, you got me started. You had a failed business landscaping business or something, right? Yes. I was against the wall. Yep. It's an amazing, awesome story. Your brother, coached you into real estate. You did a podcast series called Do or Die.

Tom: That's right.

Joe: So we became friends through that, right? Yes. And his business just exploded. Starting doing a ton of deals and started coaching people out of deals and started having tremendous success doing that as well. So tons a wealth of wisdom. And we're at a mastermind right now, and I'm excited to ask you this question. Let's do it. Because one of the things that you talk a lot about is revenue in first position. Yes. And let me just recommend a book real quick, Profit First, get that book by Mike Michalowicz. It's gotten me out of a lot of trouble. It's saved me from a lot of trouble. Me, too. But the good thing about this book is your business will always be profitable when you're implementing profit first. And really, what that means is putting revenue in first position. Your business will always be profitable. How is that? What does that mean? Well, it just means the normal way of looking at accounting is revenue minus expenses equals profit. We need to reverse that. Revenue minus profit equals expenses. That way your business is operating only on your expenses. And by doing that you focus on revenue in first position. So Tom, what does that mean?

Tom: Your expenses must fit into the expense account. Yeah. And not what's left over is left for you. But profit and Mike Michalowicz  is a genius. And profit first works and revenue at first position. Joe. What it means is that what a lot of new entrepreneurs do is they do everything except for the hard work, the awkward conversations of asking for money and working on revenue, the stuff you don't want to do. What does that mean, guys? As 50,000ft, it means preparation could be a form of procrastination. So if you are out there and you are designing a logo, trying to find the name, working on a domain name and trying to match the domain names, the LLC, or if you are doing everything in anything, maybe you're really excited about an opportunity or you're talking about the opportunity with people. All of this is a waste of time. What you want to do is you want to go out and you want to sell it first, and then you want to have your clients build it. So whatever your product or service is, you have to put revenue at first position, and you would be surprised by what people do to not have the awkward conversation of asking for a credit card, or asking for the deal, or closing the deal.

Joe: Or making an offer.

Tom: Or making it offer, they will do all the comfortable stuff. The best way to start your day is whatever is most uncomfortable. Do that first. Whatever you don't want to do, whatever you don't want to do, make calls and make offers. That's what you work on first. The way you should structure your day. Your day starts with revenue and sales and first position. After that, you work on fulfillment. Some people give you their hard earned money. What is it that they want from you? Provide that in the third part of your day should be KPIs. What money is coming in? What money is going out, paying your taxes on time, all that good stuff.

Joe: We were just talking about that. I'm talking about taxes with this guy down now. But anyway, this is like I talked about this a lot. You know, you start with your goal, let's see your goals and make ten grand a month. You work backwards from that, okay. Because we all know this. We're not in the real estate business. We're in the marketing business. Right. So it all comes down to what you want to make ten grand a month. If your average profit is five grand. Simple numbers. You need to do two deals. I'm like, well is he. No. You have to make 30 offers to get one deal. You have to make 60 offers in a month, right? So how many is that a week? 15 offers 15 offers a week. How many is that a day? Three offers a day. So when you have the revenue in first position mindset, you know the only thing you have to accomplish that day, the only thing you should compensated, is making three offers. That's all it matters. So that's shouldn't be the first thing that you do. So before you worry about your logo and your websites and reading the books, or listening to the podcast or watching another video, get your offers done. Just do it. Absolutely. And what does that mean, right? Pick up the phone. Call some sellers, call some realtors. Call some old leads. You may not have any money for marketing, but that is not an excuse. Absolutely. It's not an excuse because if revenue really wasn't first position, you'd be calling other wholesalers, you'd be calling other realtors and property managers and just picking up the phone and saying, hey, do you have any deals? I'm looking for things. What do you got?

Tom:                     And don't let a wind slow you down oftentimes. A new real estate investor will get a win, and then they'll go tell their mom and dad about it and their sister and brother and friend, and they'll be so excited. They'll be talking and talking about that opportunity to close the deal and get wild. Success lead to more success. Don't let success help you pump the brake. It should punch the gas. So pay close attention to what you're doing when you get a deal under contract, then go directly to the next step. Don't waste any time celebrating or waiting. Talking about that opportunity lets success lead to more success. That's the key.

Joe: Oh, and related to that, as I see a lot of students Tom they get excited, they get some deals under contract and then they start marketing. The contracts are selling the deals and they stop their marketing works lying down right and sudden suddenly sell the deal. Maybe it takes a couple three months to sell. One of them falls through and they turn around and their pipeline is empty.

Tom: Yes, that's a big problem. That's the best way to get on to an income roller coaster. So seven rules in marketing, seven rules of marketing. Easy peasy lemon squeezy. Seven rules copied. Right? So whatever Joe tells you to do for marketing, just copy his marketing, don't figure out and be creative. That's not the time to be creative value. It's got to be big marketing, kind of big. Most people don't want your product or service, and the ones who do don't want to pay for. It's got to be consistent. It's got to be singular. One channel dominating one channel at a time. Automate it, then move on to the next. Don't start off with five marketing channels. It's got to be, it's got to be fast response. The minute somebody calls, you got to get on the phone. You gotta close a deal right away. The people who that you get to the fastest are the ones most likely to close. It's got to be trackable. So no branding, only marketing. Dollar in, dollar out, no branding, only trackable. And it's got to be. It's got to be delegated. Meaning you as an owner are not good. So get somebody who is 80% as good as you doing it, 100% is better than you doing it off and on when you get distracted with a sale. So follow those seven rules of marketing and you'll have a much better adventure.

Joe: Come on. Don't you miss teaching real estate?

Tom: No, not at all, not at all.

Joe: Listen to this guy. You just remember these seven rules. Up the tires. There you go. That's awesome. So, yeah, for me, I think boiling that kind of down, it would be talked to five people in there. Yes. You know that's it. Talk to five people a day. Realtors, property managers, other investors, buyers. And this just something about getting that into momentum. That's the first thing we do. It's like the eye. You start getting excited. You start feeling the momentum. You start feeling the wind at your back and it just becomes easier and you start focusing. It's like building a habit, like building a muscle. You start learning about always putting revenue in first position. So that's what I wanted to talk to you about because you're really good at that.

Tom: Yes. Revenue first position is the key and basic money management is the key. Pay attention to who you're spending the most time with. Only take feedback from five people, right? People who love you. People who pay you, the people who you pay, the people who regulate your industry, and the people who went before you like this guy right here. And it should be a really great adventure. And the hustle is just a season. It's not a lifestyle, so you only have to stay in hustle for a little while. So work really, really hard. Make this remember, there's no such thing as time management. There's only priority management. So it is entirely appropriate that if you're on this new adventure with Joe right now and you're doing your first deals, make this a priority. Put this above other things so that you can put other things above this later. So it's fine to specialize and focus on your clients. That's the way you can love your loved one is by loving your clients and your customers. So work hard. Stay focused. Revenue at first position. If it's not producing revenue, put it to the side for right now.

Joe: Listen, it's you like Tom when he's talking about real estate. Comment down below in the videos here and say, I want more videos from Tom talking about wholesaling and then real estate.

Tom: There you go. Easy peasy. Maybe one day.

Joe: In the description, I'll leave his cell phone numbers and you can text him and say, hey Tom, will you start doing more videos about real estate of Joe McCall?

Tom: There you go. Hey, anybody who reaches out bids for Joe, I'm happy to help.

Joe: Absolutely. Hey, listen, if you liked this video, comment down below. Give me a thumbs up and subscribe to my channel. Let me know what else you'd like me to talk about. And seriously, if you really liked this guy and I don't know why anybody wouldn't, then say so down in the comments below, and maybe he'll see that and get a little encouragement and say, yeah, you know what? I should do more real estate videos with Joe McCall.

Tom: Possible. We'll think about it. Yeah, I'll think about it. Awesome.

Joe: Thanks, guys. Good luck guys.

Tom: God bless brother. Awesome.