The world of commercial real estate, and virtually any other business, can be divided into two halves: those who are successful, and those who would like to be more successful than they currently are.
Unfortunately, success is by nature very demanding and time-consuming. And so, there aren’t always easy ways for us to learn from the individuals we would like to emulate in any field. With that in mind, we recently tracked down the team at RK Centers to ask them what makes their founder – entrepreneur, philanthropist, and Miami Heat minority owner Raanan Katz – so successful in commercial real estate.
They tell us that a lot of what makes him different comes down to five underappreciated competitive advantages. Here they are
1. Focus. Successful men and women like Raanan Katz don’t get to where they are because they blindly follow every trend or fad. Instead, they keep their focus and attention on the goals and priorities that matter most to them. That way, they aren’t tempted to change course simply because a new path seems more exciting, and they don’t give up when they run into small setbacks. Find your passion, and then use every bit of your focus and concentration to work toward it every day.
2. Integrity. Despite what movies and television might teach us, most industries run on trust and relationships. That means your reputation is every bit as important as your resume. If others can’t believe in you, you’ll have a hard time moving any business venture forward. But, if employees, colleagues, and even competitors know you have integrity, they’ll treat you accordingly.
3. A strong network. Very few worthwhile projects can ever be accomplished by one person alone. It takes a lot of cooperation and teamwork to renovate a property or build a business. That’s why top performers like Raanan Katz and his team at RK Centers develop relationships with other people who are committed and focused. Together, they can quickly finish tasks that would be impossible to do without a network of partners.
4. The right team. That cooperation doesn’t just spread outward, either. Raanan Katz has always been known for careful hiring and recruiting. Let’s face it: The bigger your business becomes, the more details there are to keep track of, and the more different kinds of expertise become necessary. Trying to be the authority on every single topic is a prescription for burnout and failure. You need the right team of dependable men and women behind you.
5. Persistence. Although this comes last on the list, it could be the most important. The world’s most successful people, Raanan Katz included, earn their place by simply refusing to ever give up. Regardless of what life throws at them, or what their competitors tried to do, they keep looking for innovative solutions to every problem. That kind of persistence isn’t something everyone can show, but it is a quality that all of the most prominent and successful business leaders in any field have in common.
Not everyone has the tools, skills, or talent to be as successful as Raanan Katz has been with commercial real estate. But, by putting his five underappreciated business qualities to work, you can be sure you’ll open the door to a lot more achievement in your own life and career.