the doors. Be fearful when others are greedy. Be greedy when others are fearful.” When everyone begins to run out of the market in fear is the time where the intuitive can find the greatest reward. Remember, entrepreneurs go against the grain. They do not follow common paths. Real estate has always been a place where you can find success in any market. If you are willing to adjust both process and strategy, there are ways to find success. When risk goes up so does reward. There is a reason why there are millions of investors and hundreds of billionaires. By and large, the billionaires are willing to risk more than others think is practical or safe—and they find a greater reward. In our current market, the wrong move could be catastrophic, but the right one could lead to massive success. An entrepreneur lives for days like that. Common investors loathe the thought of days like that. NO. 3 INNOVATION OVER STAGNATION. If you are still investing in real estate the same way you have always invested, whether times are good or bad, I
am not suggesting you are doing something wrong. The investor that has a long-term strategy will have a long- term payoff. Long-term strategies typically reduce risk. That is why innovation should be in the definition of entrepreneurship. Innovation is a new method, idea, product, etc. A synonym for “innovation” is “revolution”—a dramatic wide-reaching change. During one of the most dynamic and ever-changing marketplaces, the entrepreneur will not stagnate. Rather, the true entrepreneur will look for areas where they can, with some changes, find massive reward that a stable environment will not provide. In summary, if the current issues of our real estate market keep you up at night, force you to consider doing something differently, or worry you to the point of complete exit, you might not be an entrepreneur. But, if the current real estate market has your mind racing about new possibilities and you wake up at night thinking of ways to make your business better or different so you can capitalize in new ways, then you just might be an entrepreneur.
50 | think realty magazine :: july – august 2022
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