When is the right moment to start your own business?
A comment by Mehrdad Bonakdar – CEO & Chairman of the KENSINGTON Finest Properties International AG
If you decide that it is NOT the right moment, then you are probably right. And if you think it is the right moment, then you are also right. What does that mean?
To start your own business in the real estate industry, you will always encounter one of the 3 following scenarios when it comes to the real estate market itself:
- 1. Seller’s market
- 2. Buyer’s market
- 3. Balanced market
So, quite honestly, is one of the above criteria important for whether you want to go your own way? Is it important whether there is a shortage of properties, as in 1.? Or whether there is a oversupply, as in 2? Or do you enter the industry when the market is “normal”, whatever that means?
After almost 30 years, I can say: A very clear NO! I myself have entered the market with my own real estate offices in the most diverse locations ( Mallorca, Dubai, Germany, Switzerland ). And what? For me there was no difference. Because at the end of the day, you are either good or you are bad. And if you are lucky enough to join a strong brand like KENSINGTON, you can focus on YOUR strengths while a visionary in the background develops YOUR brand. And that’s exactly how my career has taken the course I’d hoped for. Because I also joined a franchise company very early on. I know the industry as a sales consultant, office manager, local franchisee, master franchisee and with KENSINGTON as franchisor with my own brand. It´s ALWAYS the right moment!
Only YOUR own personal attitude counts. Do you have the courage, the passion, the joy, the fun, the greed for success, the hunger for more? Then it is the right moment. Then just do it!!! And if you also have the right brand behind you, then do it even more so.
And especially now, in obviously challenging times, it is even more the right time to take your next step in the real estate industry. Because that will make you stand out from the crowd.