Can real estate investors own innovation, in the same sense that Google does, so that they may dominate their markets and lead the industry?
According to a headline on the show Mad Money, “Google owns innovation.” Clearly, it virtually does. Google continues to innovate, develop and grow at an alarming rate. The massive company is always working on a lot more than people realize.
Their advanced technology and increasing acquisitions could translate into ownership of the bulk of future products and wealth. The tech giant certainly has the perfect platform to enforce trends, and at the very least, influence them.
They already have phones, tablets, mobile devices, cars and of course search engines.
So how can real estate investors replicate this power to lead and control their industry?
1. Get Better at Innovating
Creating a workplace that cultivates innovation is great, but it all starts with you. Don’t just try to innovate more, demand it as one of your core objectives and learn how to get better at it.
2. List Building
One of the huge advantages today’s leaders have are their spheres of influence. So continue building your list daily.
3. Become the Authority
Make your website, blog, social media and brand a truly valuable resource and establish position as the authority on real estate in your market or niche.
4. Hire the Best Minds
Today the battle to own innovation is largely fought by acquiring the best minds. Sometimes that means hiring the best staff. Other times it means spending millions, buying out competitors to own their staff.
Don’t stop at real estate investment. Invest in tech, entrepreneurs and other real estate related start-ups. Doing so will invest in the future of the industry.