Building to flip or building to last?
Imagine two people who are spending time and effort on their house.
The first person is spending money and time to flip the house.
They are making it look good on the surface, repainting, cleaning carpets, perhaps some new light fittings and new plants.
Their effort goes to superficial, surface items that look good, in order to sell it in a state which looks good. They probably wouldn’t buy a house that required major repairs, and their focus is exiting with a profit.
Not that there’s anything wrong with that.
Now imagine the second person who is spending money and time building a house that will last.
They are selecting quality craftsmen & women to develop enduring components of the home. Kitchens selected to last. Doors built to last, design that is timeless, fixtures that are designed to last. They probably wouldn’t buy a house that didn’t have the capability to last, and their focus is living in a quality home for a long time. A home that people would love to live in.
And it’s exactly the same with a business.
Some people own, operate or work in a business to flip.
They want it pretty to make money quickly, then leave.
Other people own, operate or work in a business to make it last, to make it endure, to make it great.
They want to do the difficult things to build a quality business that will last a long time.
Me? I’m 100% building to last.
I’ve turned away working with people who are building to flip more times than I can remember.
It doesn’t matter which one you are, as long as you know which one you are, and don’t get confused.