Why Shut Down a Profitable Business?

I started selling residential real estate by default.

After a lay-off from my 6-figure income job and with a young child and massive amounts of debt, I needed income fast. I didn’t have the luxury of spending time looking for a new career or going from interview to interview in hopes I would land another executive level sales job.

It took me 3 weeks to study and pass my real estate exam and on my first official day in business I took 3 home listings. Ever since then the primary source of my income has been as a residential real estate agent.

But it’s not my dream.

Sure, I love real estate. I love it as an investment. I love seeing crappy properties turned into awesome homes for a profit. And I love helping people navigate through the process of buying and selling a home.

But my dream has little to do with owning a real estate company and a lot to do with helping people get better with their money so they can chase after dreams of their own. The joy I receive from navigating someone around a difficult financial position is immeasurably greater than when I watch a client turn the key on their first home.

And as I grow my revenues in financial coaching, speaking, and writing books, spending valuable time and money on my real estate business siphons away valuable resources from that dream.

So while my real estate business is profitable financially, it doesn’t get me any closer to helping others with money.

Now I don’t believe in “taking the leap” that so many people talk about with new entrepreneurs. I don’t think it’s necessary to risk it all in order to grow a profitable and successful business.

Continuing to run a full time real estate business is a lot of work. It’s late nights, early mornings, weekends, and a significant amount of hours each week. So for me to give my dream a fighting chance I have to shut down a profitable business.

That means I need a full time income while I continue growing my dream.

I don’t need to leap into the unknown. I need to build a bridge from a day job to a dream job.

My dream is still developing. It may take longer than I’d like. It may frustrate the heck out of me. But if I don’t make changes to my time and resources it doesn’t stand a chance.

I’ll of course still hold a real estate license. I’ve referred out dozens of home sales nationwide to reputable real estate agents already this year. I’ll continue to help friends and family and referrals in my local market for now.

But when it comes to actively growing a business I’m not passionate about, it just doesn’t make sense. And that’s really when it’s time to shut down a profitable business.

What are you needing to cut out of your life to give your dream a fighting chance? Tell me about it in the comments below.

Comments

  1. Great post Casey. People think I am crazy because I have successful pizza parlors and I am taking the leap into coaching, speaking, and writing. I am not ready yet to sell but getting closer as the financial gap is closing. Great post:)

  2. Sounds scary but it will be worth it! You have what it takes. For me, I just need more writing time to get through my story.

  3. What do I need to cut? T.V.
    Period.

  4. Lean in. Move Forward. Press on.
    Go gettem’, my friend!

  5. I really think you have to follow your passion. Far too many stay in a job for a four week vacation because they would have to start over. I was talking with a 35 year old Police officer who hated the job but refused to look for a new career. Needless to say he was a disgruntled employee who was miserable. How about friends who get told your going on salary but you will get to take time back. Nobody I know gets the time. Good luck with following your heart and dreams

  6. I feel you. It’s frustrating when hustling up work interferes with hustling. Persevere!

Leave a Comment