Recently at Training Kings Dinner in Manchester, I had the privilege and pleasure of sharing 10 tips on starting a property business. Having been on the journey myself as I started a Property Consultant business called Grace & Co Property Services about 2 years ago and there has been a lot of challenges and successes that has taught me lots.
Here are 5 of the 10 tips, or considerations that I wanted to share with you:
1. IS IT A GOOD IDEA, IS IT THE RIGHT IDEA, IS IT THE GOD IDEA?
There are many business opportunities out there, including property, and you can very easily become side tracked into trying new ideas but is it the idea right for you. One of the red flags for this is, if you find yourself in a position where your not actually enjoying what you are doing. If this is the case, then Its probably time to reassess why you are doing what you are doing and whether it was really the right path for you.
2. INVEST IN YOURSELF. DO YOUR RESEARCH.
When I started out in the business, I was the most valuable asset. I think this is the case with most startups. You will have to spend time investing in yourself to grow into the person you need to be to accomplish your dream.
Don’t just jump in uneducated. In general, starting a business is about taking calculated risks, but you cant calculate anything if you don’t know the formula (i.e structure). First learn the basic structures (formula) then you can look to changing it to suit your needs.
3. DON’T BE DESPERATE
If you believe in what you are doing, the right people will come to you. Focus more on quality, its not always about quantity. Sometimes you will have to graciously say thank you but no thank you.
4. FIND A JOINT VENTURE (JV) Partner
There is an old African proverb that says, “if you want to go fast, go alone. If you want to go far, go together”. Team up with someone you get on with, someone who will give you the truth as it comes (in love of course) and someone you can argue and disagree with but at the end of the day, they got your back then life and business goes on. Remember you have to be that person too.
5. DON’T BECOME A JACK OF ALL TRADES BUT MASTER OF NONE
Stay focused on mastering your chosen field. You can diversify but be wise, think outside the box and don’t spread yourself too thin. Remember the aim is to make your money and or resources work for you.
Going by the feedback the group benefitted from the tips and we look forward to hearing success stories as a result.
Training Kings, Christian Business Network was founded by Samuel Leeds in 2014 and exists to inspire and equip Christians to be successful in Business. Samuel is a Property Investor and Trainer and has shared numerous tips on his Youtube channel.
Our next evening event is on 3rd January 2019 at the Jury's Inn, Manchester. We will be having David Withington share his incredible journey on how he retired at 57, started a business and became financially independent.
We hope you can join us for the evening