Mastering Profit & Growth with Joel Moyes
In our latest Pivot to Profit podcast episode, I had the pleasure of sitting down with Joel Moyes, Co-Owner of Realty Executives and Red Brick Property Management, to discuss his entrepreneurial journey and financial strategies for sustainable business growth. Joel’s path to success is a masterclass in focus, strategic decision-making, and understanding the numbers that drive profitability.
Start Narrow, Then Expand
Joel’s career began with a deep focus on commercial real estate, mastering the industry before diversifying into other ventures. He emphasized that too many entrepreneurs spread themselves thin too soon, diluting both their expertise and profitability. His advice? Become an expert in one area before expanding—whether that’s in real estate, business, or investing.
Know Your Numbers
One of Joel’s biggest financial lessons is the power of understanding key performance indicators (KPIs) and financial statements. He relies on 13-week cash flow projections to maintain financial control, ensuring his businesses operate with precision. He also highlighted the importance of knowing customer acquisition costs and projected cash flow—critical factors in making smart, profitable decisions.
Hiring & Scaling for Profitability
Scaling a business isn’t just about growth—it’s about growing profitably. Joel hires self-starters who thrive on solving complex problems, aligns incentives with company goals, and isn’t afraid to give substantial raises to top performers. Even with over 700 agents and $2 billion in annual sales, he keeps his direct reports to just four key leaders, proving that streamlined management can drive efficiency.
The Power of Saying No
Perhaps one of Joel’s most valuable insights was the importance of saying “no.” Whether it’s avoiding distractions, filtering opportunities, or maintaining focus, being selective has been a key driver of his sustained profitability.
If you’re looking to grow your business, this episode is packed with actionable insights. Tune in now to hear Joel’s full story and financial strategies!