Tuesday, September 9, 2014

Money vs. Passion by Cal Haupt

Historical observation of my commercial clients and consumer clients as a banker and mortgage provider helped me refine my perception of what matters between chasing the money or following a passion.  The consistency of outcome for my clients with respect to the two methodologies is compelling as to which one accomplishes their longer term monetary goal. 

When I hear “xyz company is paying more” my next question is tell me about the company and the people who make the company what it is.  The typical response is “it’s about the money; I did not research their longevity, financial strength or long term goals”.  For money chasers, this is consistent across all industries.

When you look at monetarily successful people, they all started with a passion and followed a path that met a need in the market.  Most believed in a better widget, better service, or a faster way to accomplish a process.  They did not chase higher pay without a passion for the company or strategy.  They were all passionate about what they were doing, the people, and philosophy.  This is the path the majority of wealthy people take.  The money always follows over time when passion is in the forefront.  "Slow and steady wins the race" 

Most that focus on the best deal at the time without regard to passion or the team tend to have inconsistent outcomes and move to the next best deal without regard to the stability of the underlying foundation.  They tend to cycle monetarily up and down as clients adjust to the change rather than making a smooth trend higher as their referral leverage increases. 

A few observations:

> People are social and need to feel responsible for others to stay engaged long term.  The same reason families have such strong bonds. 

> One person does not possess all the skills necessary to push through certain paradigms or maintain all critical functions of a business.

> People get tired and life does not always follow a predictable path.  Having a team step in to maintain your revenue stream when the unthinkable happens is priceless. 

Look at the people you view as monetarily successful.  I use the term monetarily successful because I think there is variations of success.  Monetarily Successful, Great Family Success, Great Friends Success, etc.  Everyone has their own view of success and I can only hope everyone enjoys all the facets of success and you are that fortunate in life.  Back to my discussion. 

The majority of monetarily successful people achieved that goal through a passion facilitated by a group of trusted people who share a similar belief with them.  Each person in the group generally has a unique set of skills and capabilities that together make them better than they are apart.  Together, they make each other better and thus leverage the skills of all into greater monetary success for all. 

IMO "Money Chasers" tend to get by and miss the joy and sense of accomplishment shared among a trusted group that shares a passion and a common belief.  My career has always been team based and I have foregone many higher paid consulting opportunities that required only my skill set.  I would not trade the relationships and friends I have made over the many years for any dollar amount.  Money will never talk to you, Money will not visit you when you are sick, Money will not give you a hug when you need it, and Money will never brain storm with you to engineer a challenge.  Money derived from a passion supported by a team of like minded people creates a fulfilling experience and security for all.

Follow your passion, enjoy your team, enjoy the ride, and the money will follow over time….  It always does.
Cal Haupt
Chairman and CEO
Southeast Mortgage of Georgia, Inc.

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