3 Biggest Mistakes We’ve Made (in Life and in Business) (CFFL 0036)

3 Biggest Mistakes We’ve Made (in Life and in Business) Jack Butala:                   Hey, there, Jack Butala from Land Academy. Welcome to our Cash Flow from Land's Show. Today Jill and I talk about the three biggest mistakes we've made in life and in business. I don't know about you, Jill, but I love these kinds of shows. You know, it's a little bit less technical ... Jill DeWit:                            Me too. Jack Butala:                   A little more about ... I mean hopefully, in some ways a little more helpful. Jill DeWit:                            Mm-hmm (affirmative). Jack Butala:                   You know, it's just so important to look at what, you know, what went wrong and to learn from it. And fortunately we've created this environment where we theoretically can help one or two people. One or two people not make the same mistakes. Jill DeWit:                            A year? Or in life? Jack Butala:                   No. No, no. One or two people total, yeah. Really. Jill DeWit:                            Okay. I think we helped a little more than two. At the last count I got like four, not counting kids. Jack Butala:                   Oh, right. Right. Oh. Jill DeWit:                            Because we've ruined them. Jack Butala:                   I know that's a ... Our kids ... Our Children have twice the responsibility that Jill and I have combined. Jill DeWit:                            Mm-hmm (affirmative). Wait, wait. Jack Butala:                   I can't wait to see what happens to those kids. Jill DeWit:                            They have more responsibility than we do? Jack Butala:                   Yeah. Jill DeWit:                            Oh, that's true. Jack Butala:                   Yeah, they take everything more seriously I think. It's good. Jill DeWit:                            It's a good thing. I agree. All right, Steve, I like this. This is a good topic, and I think you're right that it's important to know how the person behind the business maybe? I don't know. Kind of how we got here, because you're right, I think we can help some people. So I'm leading up to this. You go first, because I don't want to go first. What do you think is your biggest mistake? Jack Butala:                   Well, unlike all the other shows that we do, I actually did a little bit of homework and sat down before we ... Jill DeWit:                            You worked about your mistakes? Jack Butala:                   Turn the mics on and like did some thinking about this, so. Jill DeWit:                            Okay. Jack Butala:                   No, these ... Without exception the biggest mistake I made in the real estate business and professionally was having a single point of sales venue in about ... Up from like, I don't know, 1999 to 2011. All right, let's say 2003ish to 2011, our single point of sales for land was eBay. And, man, it worked great. And it still does work well, but, you know, there was a huge economics downturn that was tied to real estate back then. And, man, it almost sunk the ship. Jill DeWit:                            Mm-hmm (affirmative). Jack Butala:                   So having a single point of sales venue, or a single point of failure really, it was a huge mistake. You know, we would have gotten through it fine and some of our competitors just got through it great. Jill DeWit:                            That's true. Jack Butala:                   If we would have done actually what we teach now, what we teach at Land Academy, which is, you know, have a sales venue this way, sell some stuff on your website, sell some stuff on other unrelated websites, and use eBay as a way to ... Jill DeWit:                            As one of the tools, not the only tool. Jack Butala:                   Yeah. Yes. Yeah, I got kind of lazy I guess.