Your Business is No Place for Emotion (LA 897)
Your Business is No Place for Emotion (LA 897)
Transcript:
Steven Butala: Steven and Jill here.
Jill DeWit: Hello.
Steven Butala: Welcome to the Land Academy show, entertaining land investment talk. I’m Steven Jack Butala.
Jill DeWit: And I am Jill DeWit. Broadcasting from sunny, Southern California.
Steven Butala: Today, Jill and I talk about how there’s no place for emotion in your business.
Jill DeWit: It’s basically saying like all I think is, “There’s no crying in baseball.”
Steven Butala: Yeah, that’s exactly what it is.
Jill DeWit: Well.
Steven Butala: This should go without saying, but geez. It should go without saying, but-
Jill DeWit: It’s true.
Steven Butala: … it’s just not how it goes.
Jill DeWit: It’s very true.
Steven Butala: I wonder why. Before we get into it, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free.
Jill DeWit: Jack asks, “Do I have to be a member to submit deals on Deal Funding on the landinvestors.com site? How does it work and what is the criteria? Thanks.” I was going to back up and give a little backstory first.
Steven Butala: Yeah, Jill, go ahead, that’s great.
Jill DeWit: So here’s what this question is all about. In case you did not know, we have been quietly, privately working with some of our top members, and helping complete some deals and doing funding, and backing them up and things like that because we always say, which is true, no good deal should ever go to waste. We have a thing in our community, it’s called The Deal Board, and sometimes we do it, they do it with themselves. That’s what’s been going on.
Well, there’s so many deals out there and we decided to that, you know, we want you to be able to up your numbers and complete these bigger deals. Maybe you have 100 deals under your belt, but they’ve been all small deals and you, gosh, you’re ready to start doing some big numbers and your bank balance is not quite where it needs to be to support that. That’s okay. Jump ahead.
Steven Butala: Or maybe you’re sending out mailers. You have $15,000 in the bank.
Jill DeWit: Right.
Steven Butala: And you’re sending out mailers based either consciously or subconsciously, because you want to place that $15,000 and turn it into 30 or 40 and it takes a long time.
Jill DeWit: And sometimes these deals just land in your lap too.
Steven Butala: Right.
Jill DeWit: That’s another one too. Maybe you were sending out deals to buy $5,000 properties-
Steven Butala: But you need to have access to-
Jill DeWit: … and a guy says-
Steven Butala: If you knew you had-
Jill DeWit: … I got a $50,000 property. Do you want this one too?
Steven Butala: If you knew you had access to half a million dollars from a partner that you trust and understands your deal, you’d probably send out a different type of mailer.
Jill DeWit: Exactly. So that’s what we created.
Steven Butala: You’d probably catch the chase. So that’s what this is all about.
Jill DeWit: Yeah. So, on landinvestors.com, our website, there’s a thing at the top that says Deal Funding. You click on that, it takes you to a form that you just fill out. Give in the information, it gets right to us. And then we’re taking it from there. So the question is, do you have to be a member to submit a deal? And the answer is, no. And it asks-
Steven Butala: At this moment, no.
Jill DeWit: Yeah, at this moment, no. We can handle them all. And then, and it tasks you … There is a question on there though. It’s going to ask you, are you a member? Yes or no? How many deals have you done? So we have an idea and-
Steven Butala: What’s the profit margin you plan to anticipate? How long do you think it’s going to take to sell it?
Jill DeWit: Exactly.
Steven Butala: Just a lot of stuff that’s generally like that. And actually somebody asked us recently, can you just put it all out there? The deals that you’re going to do, can you just tell us what they look like? And so that’s actually on my list today.
Jill DeWit: Working on going to properly put out a criteria. So you know going into it what we’re looking for. For example, I don’t want international deals. I want United States deals. We’re not doing those, at this time. I’m going to say that.
Steven Butala: And of course profit margin on the whole thing has to be way more than $10,000.
Jill DeWit: Right. I buy it for $1,000, I need $1,000 because it’s worth. We can sell it for $2,000, because it’s worth $5,000.
Steven Butala: Yeah.
Jill DeWit: Those are two smaller deals.
Steven Butala: Yeah, those are deals you should do yourself all day long.
Jill DeWit: Right.
Steven Butala: We cut our teeth on those deals, done thousands of deals like that. It’s the greatest thing ever.
Jill DeWit: Right. The deals we want is we can buy it for 20, it’s worth 70. So we’re going to sell it for 45, in 30 days or less, probably two weeks, really.
Steven Butala: We’ll both make a ton of money.
Jill DeWit: Exactly.
Steven Butala: You know.
Jill DeWit: Those are the, and up.
Steven Butala: It all falls under what Jill’s calls add a zero. If you want to make a $300,000 this year, add a zero.
Jill DeWit: Yeah.
Steven Butala: And we’ll help you do there. Get there.
Jill DeWit: Exactly. So I’m excited. And this is, now we haven’t talked about in our podcast. This is now what I’m doing.
Steven Butala: Yeah.
Jill DeWit: We have made a transition in our company since the beginning of the year, believe it or not, about what my role, what my core focus is, because since we just beginning of this year, we opened this up to everyone.
Steven Butala: Very massive submissions.
Jill DeWit: Blown away about the quality-
Steven Butala: Millions of dollars.
Jill DeWit: … and the people.
Steven Butala: Yeah.
Jill DeWit: Yeah, and the equity that’s staring at us in the face. And so we’re like, all right, we really need to focus our attention on this. And help these people get these deals done.
Steven Butala: Right. Well said.
Jill DeWit: So thank you.
Steven Butala: Plus, we are perfectly set up-
Jill DeWit: Yep.
Steven Butala: … to help our members, that the ones who are really finding great deals just launch-
Jill DeWit: Yeah. Get them done.
Steven Butala: … their career.
Jill DeWit: Exactly.
Steven Butala: And that’s really-
Jill DeWit: And I know, you know what, I know they’re going to learn so much about it because you know what’s going to happen is I know for a lot of them, these are bigger deals. So what’s going to happen is myself, and my team are going to be teaching them basically the blueprint to do this and run with it.
Steven Butala: Right.
Jill DeWit: And that’s fine. That’s why we’re all here.
Steven Butala: So let me show you how it works. You submit this property, you fill out the form, you submit a property. You tell us what you think you negotiated a deal for it and what you think you can sell it in, and how long you can sell it. And then we fund it for you. But let me be super clear. We don’t do the deal with you. We’re just a lender on it. We’re just your partner. In fact, we’re never going to talk.
We will never speak on the phone at all. We expected to do the deal as if you funded it yourself, all on your own. We’re not going to give you advice. We’re going to heavily, heavily look at how many transactions you’ve done. If it’s a great deal. That’s not to say, and you have like five deals under your belt, that’s not to say we’re not going to do it just because of that.
Jill DeWit: Right.
Steven Butala: It has to be a great deal. But the-
Jill DeWit: The structure, the framework, we have to know that you know what you’re doing.
Steven Butala: Yeah, the less amount … Like you have to have a website. The less amount of deals, we’re going to heavily look at whether or not you’re in our group too, because then we know you got educated properly-
Jill DeWit: Right.
Steven Butala: … in how to buy and sell. It makes sense.
Jill DeWit: And present it.
Steven Butala: Yeah.
Jill DeWit: It’s all of that.
Steven Butala: I think that’s clear enough.
Jill DeWit: I think so, also.
Steven Butala: Today’s topic, there’s no place in your business for emotion. This is the meat of the show. I want to go as far on this topic to say this.
Jill DeWit: Okay.
Steven Butala: I think emotion is the single number one roadblock to getting anything done, Anything done in your life.
Jill DeWit: Yep.
Steven Butala: Think about how many times you got in a tiff with your spouse, and if you just had no emotion at all, you just let her go off, because that’s all she wants anyway, she just wants to go off, a sounding board, be heard. Say what she needs to say and that’s it, and at the end of it, you just say, “Yep, you’re right.” And I’m sure that next time it’s going to be different.
Jill DeWit: And there’s nothing wrong with that.
Steven Butala: And be done.
Jill DeWit: By the way, nobody’s wrong.
Steven Butala: That’s what I mean.
Jill DeWit: Yeah, nobody’s right or wrong.
Steven Butala: Or like, I mean, if you’re really young do it with your parents or your sister or whatever it is, I’m not just saying in marriage. Or, if somebody’s screaming at you because you sent them a letter and they don’t like it, you know say, “Yeah, I’m really sorry. It is what it is. I sent you a letter. You don’t want to do it. So that’s it. I’m going to move on to the next thing now.”
Trust me on this, you will burn through your career, and get where you want to go versus, you know, just look, I’m Italian, I’m Italian-American. Nobody’s more emotional than Italians. Right?
Jill DeWit: True.
Steven Butala: I’m telling you. After a lot decades of experience, decades of useless, angry rants, it is totally inefficient and counterproductive.
Jill DeWit: If someone is mad at you, and you choose to let that bother you, that’s kind of on you. That’s how I see it too, with emotion. You need to be able to whatever is going on with them, you have to not let it affect you. If it does, that’s on you. I want to circle back to you just said it’s an easy example. You sent a bunch offers, people call back. The first wave is, you call it the hate. They’re mad. “How’d you get my information? How dare you? You’re way off. I don’t want to sell whatever it is.” But they don’t say it like that. You know, often there’s bad words. They’re mad. It’s actually for me, it’s funny. Some people are like, “Whatever.” And some people like,” Oh, no, I can’t do this.”
That’s where you fail. You can’t say, “Oh no, I can’t do this. I can’t take any.” You know what? You won’t make it, like you just said, Steven, you won’t make it any business because there’s going to be-
Steven Butala: Or anything.
Jill DeWit: … no matter who it is, you, whatever you’re doing. What if you’re with the very best intentions? You bought a piece of property. You’re building a nonprofit business, and the inspector shows up, and he’s a jerk.
Steven Butala: Yeah.
Jill DeWit: That’s going to happen. You can’t get emotional, but you have to go, “That guy’s a jerk.” It’s not going to make me stop building my nonprofit to save all these homeless people. You’re going to do that.
Steven Butala: Here’s the thing with men are not wired to take stuff laying down.
Jill DeWit: It’s true.
Steven Butala: But I’m telling you-
Jill DeWit: You guys need to act on it.
Steven Butala: … this many years of experience-
Jill DeWit: Yeah.
Steven Butala: … you’re not taking that laying down. I mean, I look at it now like the whole Bruce Lee/martial arts thing. Like you never, ever, ever get in a fight or have any kind of confrontation with anyone unless it’s just a last resort. But so far down the line that you’re backed into a corner, literally backed into a corner and you have to do something about it. So it’s the same thing. That’s how I get out of my head, my own head and saying, “I’m not going to take that laying down from this guy next to me in the car, doing all the flipping me off and all this stuff.”
I’m like you know what-
Jill DeWit: It’s not worth it.
Steven Butala: … you know what I do now, is I just laugh.
Jill DeWit: That’s what I do.
Steven Butala: Just laugh about it.
Jill DeWit: I just get out of the way. I try not to engage too. I purposely-
Steven Butala: It’s easier for women.
Jill DeWit: You think?
Steven Butala: Yeah.
Jill DeWit: Oh.
Steven Butala: Women should not engage. The first thing that comes in a man’s head, is like I’m going to kick this guy’s but, and I’m going to enjoy it.
Jill DeWit: Okay.
Steven Butala: I live for that stuff. The truth is, I live for that stuff.
Jill DeWit: Yeah,
Steven Butala: That’s the truth.
Jill DeWit: I know.
Steven Butala: Even at my age, but you just have to let it go. It’s totally inefficient.
Jill DeWit: It is. It does you no good to get all worked up, and lose an hour or a day-
Steven Butala: Yeah.
Jill DeWit: … because of what went down.
Steven Butala: Then you have a bad memory.
Jill DeWit: Exactly.
Steven Butala: I mean, all of it’s, nothing’s good. First you’re just laughing about it, or smiling right through it.
Jill DeWit: You need to just exactly, let it go, shake it off, go for a walk, get a cup of coffee, whatever it is. Come back to it, and get back right back into it. That’s how you win.
Steven Butala: Especially in business.
Jill DeWit: Yeah. That’s what I was referring to.
Steven Butala: A thousand things that go on in a course of a day that can really set you off.
Jill DeWit: It’s true.
Steven Butala: Especially. I mean, Jill and I, look at this, we produce a daily show. We probably do 15 deals, 15 large deals a month. We do at least 20 or 30 small ones. Managing a staff of, I don’t know how many, it’s at least 10 that I know of.
Jill DeWit: Right.
Steven Butala: I think there’s more. And then have a social life on top of it. So there’s a lot of opportunities with that many machines moving, that many parts moving in the machine, to get really emotional, and to let it get the best of you. And it takes a lot of practice to do that. So wherever you are, listener, in your business life or wherever you are, start today.
Just I’m telling you, this is like fatherly advice. Start right now, practicing, not letting this stuff get to.
Jill DeWit: Yep. You’ll be much happier.
Steven Butala: Well you’ve done it again, you’ve spent another 15 minutes or so listening to the Land Academy Show. Join us next time with finance Friday with me, Steven Butala, and Justin Sliva.
Jill DeWit: And we answer your questions posted on our online community, landinvestors.com. It’s free.
Steven Butala: You are not alone in your real estate ambition.
Jill DeWit: You got that sentence down. There’s some you still after how many shows, what is the show?
Steven Butala: 900. No, 800.
Jill DeWit: 896, 7. 897, I think.
Steven Butala: 897 shows we’ve done.
Jill DeWit: I know, and some things-
Steven Butala: It’s actually sad.
Jill DeWit: … and some things you can say, and some things you can’t still say.
Steven Butala: What are you talking about?
Jill DeWit: No, no, just you trip on the-
Steven Butala: You know what this is?
Jill DeWit: It’s all good.
Steven Butala: She’s baiting me, for me to get emotional.
Jill DeWit: You know what? If you see it that way, maybe you should look in yourself about how you’re interpreting that.
Steven Butala: If you’re in a relationship as a listener for more than two or three years, isn’t it eerie how the person you’re with can just push your buttons. And I never do it, but I know-
Jill DeWit: Oh, yeah, you never do it.
Steven Butala: … exactly, there’s three sentences I can that would just make you pull your hair out.
Jill DeWit: Oh, you never do that?
Steven Butala: Throw the cyclones at me.
Jill DeWit: What did you say?
Steven Butala: I never do.
Jill DeWit: Oh, oh yeah. Yeah. That’s what you did. You keep thinking that. That’s great. You’re silly. Hey, wherever you are watching or listening, please rate us there. We are Steve and Jill.
Steven Butala: We are Steve and Jill. Information-
Jill DeWit: And inspiration.
Steven Butala: … to buy undervalued property.
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