Property Development is a NUMBERS GAME – or is it a PEOPLE GAME?
Pauline Heron International Speaker, Business & Property Psychologist -
There are definitely bigger numbers involved in Property Development whether it is number of units, amount of money put into the deal and more importantly the amount of profit at the end of the development. Also there are invariably more people involved in developments than standard buy to lets.
But consider the same question relative to any business. The majority say it’s a numbers game and the reality is that in most cases if the numbers don’t work then the business won’t be viable, however in property that is not always truth as long as you have the courage and resources to “ride the wave”. On the other hand in reality virtually every business is a PEOPLE BUSINESS, because in business you are generally required to engage with a wide range of individuals, especially if you want to scale that business.
You could argue that the property business requires more people focus than many other businesses because it can be complicated by the effect of emotions. Furthermore, to achieve the best win-win outcome you need strong negotiation and influencing skills because you will be engaging with a great variety of people from all backgrounds who have different needs, communication styles and different personality preferences.
During Pauline’s 25-years as a Military Officer she honed her people and leadership skills, often in very fast changing and high-tension situations. She did also manage to embrace her entrepreneurial spirit by establishing a range of businesses both within the UK and overseas and it was during this time that she started investing in a property portfolio and started a letting agency. As a motivational speaker, business psychologist and trainer she has worked with hundreds of people across all sectors, ranging from aspiring entrepreneurs in hard to reach communities to CEO’s and senior executives in large international companies on ways to improve engagement and retention and to facilitate growth or diversify within their organizations; and indeed grow and unlock powers and abilities within themselves.
Her property investment journey was not planned and she had no education in the area and she started in the convectional way with single lets and then some title splits and flips. Because she did not ever really consider the investment as a business she did stop investing in property for a number of years whilst she focused on other areas of business. However in the last 18 months since setting up a new business with her son, Aidan, she has also added HMO’s, serviced apartments and developments to her investment pool and now considers her investments as a business.
Have you heard to saying “two heads are better than one”? Well like many other investors Pauline knew that if she was to realize her aspirations and goals in Development she would need to engage in a few Joint Ventures – however she never realized what that Joint Venture would lead to. She also has a “fast driver” and when she sets her mind to something she does not want to wait and said:
“Why take the step ladder when you can propel yourself on the trampoline?”
Join Pauline as she shares some of her journey this year and invites you to consider some interesting Development Options that you might want to add to your property business in 2017.
How to Negotiate With Confidence In Property
Some people love negotiating and some hate it, however nobody can deny that negotiating helps business people reach agreements and those who are good at it always walk out with the upper hand.
In property stakes are high and the right strategies can make thousands of pound in difference. In my career in property and business, I see the difference having great negotiating skills makes on a daily basis.
Once you become confident in asking and persuading others to give you what you want you will find that your relationships and quality of life improves. Get a Yes every time you want something!
By 2009 Lilia’s results had gone from just a few thousand to €56M in revenue just in a couple of years – this was when in most sectors sales figures were falling sharply!”Lilia is one of Europe’s most successful sales practitioners. At the heart of her teaching is the belief that integrity in one’s dealings and leading a balanced work-family life are essential to happiness and success. Over the past 20 years she has developed her own unique sales system, a system that is now being used by top companies around the world especially doing big ticket deals. She enjoys teaching this system and her unique approach to sales to entrepreneurs, speakers, consultants, online marketers and corporates who want to increase sales and be more productive and successful.
Why go through years of trial and error if you can pick up the best strategies that work for the people like you TODAY!