February 28, 2013 · 1 Comment
What are the silent killers that can destroy a real estate investing company fast, and that you need to learn to anticipate and preempt? What can you do if your business has already fallen in the trap?
CEOs of real estate investing companies have to be fast on their feet and quick to make decisions on the fly. This sometimes leads to minor mistakes, but normally these are relatively easily corrected. However, there is another threat that often quietly creeps up on business owners and sweeps everything out from under them.
Just look at Apple. Apple has rapidly gone from top corporate position in the world, receiving endless praise for its incredible products that so much care was put into, to throwing out new and sometimes inferior junk every few months, while quality fads and Apple addicts begin to feel abused.
Real estate investing company owners frequently end up on this same path. Ego blinds them to the warning signs, denial is rampant and unfounded optimism drives them to make the situation worse.
It’s about getting caught up in the race to the next dollar and forgetting what got you to the success you were enjoying. Think back; what did you do that worked before?
What really changed things (don’t just blame everyone else and the market), how can you bring more of the old back?
Is it changing company culture, resetting thinking or realigning it with vision and putting the right action plan and decision playbook in place, or getting coaching to restructure the business model to deliver on your original and ultimate goals?
There is plenty of fast and easy money to be made in real estate investing but as they say “easy come, easy go”. What you need is a sustainable real estate business.