Being an achiever in real estate

Every generation needs a revolution - an entrepreneurial revolution

We have in business for 40 years.  One of the mantras for secret of success we keep is "Keep your word"

Last week we had two meetings to signal our comeback to subdivision development which we left in 1997 due to Asian financial crisis.  One reason we had this meeting is to recover our exposure to our developer who is well known to my daughter who is now a senior officer of the company.  The objective of the come back was to recover the exposure we had to her former boss through packaging fees or profit from the undertaking.

The tripping meeting was to show us lots that could be payment in kind to almost 8 figures of exposure.

However the lots presented were to be priced at 5 numbers but it was badly developed:   cracked roads, incomplete road network, wrongly placed open space.  No centralized water system network and to think that the owners developers of the project are well known personality:   congressman from Visayas, former GM of a pharma, and now the former boss of my daughter.

It dawned to me that my daughter did not get this secret of success of keeping our word.   The former boss said he was willing to shoulder 1/3 of the debt (but their PN did not say so).  So much for the display of pomp and status of "execs"  from CBD who are all words and spreadsheets but no achievements

Difference between an entrepreneur and project officer/assistant - business vision and insight

Every generation needs a revolution - an entrepreneurial revolution

It really pays to have really gone to a business school and studied strategy and visioning.  

In the business, I was called out by a business assistant, project officer because of the seeming lack of concern of  cost and loss in the hard asset sales portion of the project.

He was right, because the loss was listed at the sector.  However we would make up at the services portion of the project:   interment, cremation, ash crypt sale ,chapel services

The subdivision projects from whence the said individual was honed in  is entirely different from the memorial business where we in now.  The loss , the low price of the hard assets, will let the foot in of the customer to buy from us services which were more profitable.   

The subordinates in the business must, as we studied earlier in grad school answer the question:  Who has the business insight?

Definitely not the young ones who assume they know everything and are smart enough to navigate business strategy.   The battle scarred veterans do.