The Power of ‘Why?’: Pinpoint What’s Driving You & Success Will Follow

The Power of ‘Why?’: Pinpoint What’s Driving You & Success Will Follow

4 min read
David Richter

David Richter is an active real estate investor, who has been essential in closing over 850 deals over the last seven years. Those include wholesale, turnkey, BRRRR, owner finance, rentals, lease options, and any other exit strategy you can think of. While growing and building a real estate business from five deals a month to over 25 deals a month, he realized that as much money was coming in, it was going right out the door.

Experience
With the unique opportunity of being in every seat as a real estate investor, he found a calling in finance to help businesses see where their money was really going. David has helped real estate companies completely turn around from going out of business to building cash reserves by using the Profit First cash flow system.

He is in the process of writing “Profit First for Real Estate Investors.” This book is a derivative of the original “Profit First” by Mike Michalowicz that is tailored specifically for real estate investors.

His goal is to completely transform the real estate investing industry when it comes to how real estate investors view their finances. He wants to bring investors true financial clarity and freedom and help every investor stop living deal to deal.

Accreditations

David is a Certified Profit First Professional

Follow

Simple CFO Solutions LLC
Simple CFO Facebook
Profit First for Real Estate Investors Facebook
Profit First for Real Estate Investors Instagram
David’s Facebook

Read More

Join BiggerPockets (for free!) and get access to real estate investing tips, market updates, and exclusive email content.

Sign in Already a member?

Before we dive into the nitty-gritty of a system for automating your profit, I want to make sure you have a reason why you want to do this. In the circles I run in, there is a big emphasis on this concept, and that’s why I love my circles.

A lot of entrepreneurs focus on the “how” and the “what” of their business, but they don’t focus on “why” they are doing it. If you have not read Simon Sinek’s book Start With Why, I strongly suggest it.

I’d also like to present my thoughts on your “why.” I believe your “why” changes throughout your life.

You might be saying, “What do you mean it changes? Once I discover my ‘why,’ isn’t it always my ‘why?’”

I’d like to contend that in different seasons of life and business, your “why” will evolve and develop and mature. Before you have children, I’m sure it will be different than after.

Woman in warm blanket relaxing and drinking morning coffee on cozy bed in log cabin in winter

Understanding Your “Why”

You have to be actively thinking about and searching for your “why.” A great sign that you’ve found it for that specific season of life is if you cannot stop thinking about it. It gets you up in the morning and is the last thing you think about at night.

Sometimes your “why” is a “who.” Maybe you are driven to get up because you’ve got little children at home that adore you and whom you adore, and you want to give them the best life possible. Or you’ve got a parent that is sick, and you want to make sure you are there to help them, so you get up early and stay up late to accomplish your “why.”

I’ll be very honest. I struggled with the concept of my “why” for a long time.

I would go to a lot of groups and sit in many meetings in which they would be talking about it and telling us that we needed to have one. I struggled because I thought the “whys” I had were too generic, like “I want to provide for my family” or “make a difference.”

Remember, this is just my personal philosophy, but I believe now that your “why” is unlocked by being disciplined and doing what you’re supposed to do.

Related: Is the “Graduate, Find a Job, Get Married, Have Kids” Sequence Still Relevant for Millennials?

You are not going to find your “why” if you are not doing what you’re supposed to do or doing the things in your life that aren’t as important (watching TV all the time, playing video games, surfing the internet, on social media nonstop, etc.). I’m not saying you cannot do those things, but I am saying that if you can discipline yourself, you will bring clarity to your life, and your “why” will be that much easier to grab on to.

I found my “why” when I married the “who” of my life to the “what” of my life. Let me explain.

The “who” in my life is my family, specifically my wife and daughter. I want to provide for them and give them the best life possible. The “what” in my life for a long time was real estate investing, and after over 10,000 hours of giving my life to that “what,” I wanted to give back and bring value to many real estate investors.

The “who” and “what” when blended together in my life is stated as my “why:” I want to help stressed-out entrepreneurs who are frustrated with not knowing their numbers and not making a profit by cleaning up their books, interpreting their numbers for them, and implementing a system to increase and prioritize their profits. I want to enable them to be less stressed, confident in their numbers, and making the profit they need to accomplish their vision and to provide for their family to have the best life possible.

This is what gets me up in the morning and keeps me up at night. This is what keeps me going when situations and circumstances get difficult. This is what helps me keep growing when I want to relax. This is what helps me learn a new system to protect and grow my profit.

man facing away from camera looking out at mountain range

Overcoming Anxiety

In your business or personal life, if you are stressed, anxious, afraid, are you as prone to action? Of course not.

What I am trying to get across here is best said by the legend Forrest Gump, “Lieutenant Dan got me invested in some kind of fruit company. So then I got a call from him, saying we don’t have to worry about money no more. And I said that’s good! One less thing.”

I don’t want one of your big worries and fears in life to be about the business you’ve worked hard to build and create not being profitable and not being able to stay open. I want to help this be “one less thing” you have to worry about.

Related: Why the Massive Real Estate Empire You Think You Want Won’t Give You the Life You Imagine

If you genuinely want to reach your “why” and stay on the journey, you will need to remove as many barriers and obstacles to that path as you can, and one of the big obstacles is not being a profitable business. Profit really does unlock your “why.”

Your profit gives you the keys to focus on what you really want to focus on. If you’re always worried and stressed about your cash flow and profitability, then I think it’s a safe bet to say you’re not thinking about your “why” during those times, except for being discouraged that you’re not doing a good job of reaching for your “why.”

The power of profit and knowing your numbers helps you laser in on the things in your life that truly matter. If you don’t have to worry about your profit, you can focus on your family, the parts of your business that need attention, and growing yourself—not worrying if you’ll still be in business the following Monday.

blog ads 01

How did you find your “why” and has it changed since you first started out?

Tell us about your path to “why” in the comments.