I Made Millions, Then Lost a Million on One Decision - Simon Caulfield #127

Simon Caulfield made millions and then lost a million on one decision, and could not tell his wife for a while. He also stopped setting goals entirely this year, replaced them with a budget and three non-negotiables, and says it is the most he has enjoyed the work in a decade.

Simon Caulfield is the director and lead agent at Place Kangaroo Point in Brisbane, an office with a gym, a golf simulator, a kids club and a wine cellar that he says cost more than eight million to build.

What you will learn:

- Why he replaced goal setting with a P&L and three non-negotiables, and what that did to burnout

- The two walls he hit, one at the ten year mark and one last year, and what he was actually protecting when he hid it

- The three people he says everyone needs in their corner, using a boxing analogy: a manager, a coach and a trainer

- Why he stopped chasing ten $500,000 listings at 80 hours a week and went after five at $1 million instead

- What he did when his business partner had three offers to leave, and why giving him the questions to ask is what kept him

Chapters

00:00 The office, the golf simulator and what Google taught him

02:37 Matching a wine vintage to every unit number

05:12 The chip on his shoulder, and chasing validation

07:53 Ten years to predictable success

13:09 Selfish against disciplined, and why the difference matters

14:30 Admitting it was pride, not leadership

15:49 The phone call to a listed company CEO

17:10 Entitlement, courage and a protected society

19:48 Making millions, then losing one

22:25 The year he set no goals at all

30:22 Being present, and capturing the moment

32:31 Partnership at home before partnership at work

38:21 How you get from 500,000 in fees to two million

42:27 The first sale, and 30 groups at the open home

43:41 Sold signs on ten buildings he had no listings in

49:01 The three people every operator needs in their corner

1:01:02 Player or coach, and which hat comes off first

1:04:28 Phil Mickelson, Tiger Woods and doubling down on one strength

1:09:14 Wolf Pack Fridays, and why nobody is immune to a problem

1:14:07 One word for the whole career

Simon Caulfield runs on a budget and three non-negotiables. Property should be bought the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.