We were taught from the early school days that copying or plagiarizing is not good, you have to be original and unique in everything you do. But is it true when it comes to successful entrepreneurs, especially in old matured businesses, where it’s hard to invent a new light bulb or write new DOS code and put it on a brand new floppy disk? You can only invent so much when it comes to being an “original” in Real Estate business. Sam Zell didn’t invent distressed real estate investing, he just excelled at it. Donald Bren didn’t create master-planned communities, he just took the concept to the next level. Trammell Crow didn’t build his empire solo—he partnered and scaled.
Too many aspiring real estate investors and developers believe they need to be original, special, or connected to succeed. Instead, become a relentless student of the past, find business models that worked in other regions, countries or other businesses, and see if you can add a twist to it that will make you stand out of a huge crowd in this highly mature business.
I’ve gone thru owning a real estate brokerage and a mortgage brokerage, I can’t compete with EXP Realty and REMAX. I’ve done flips, but there is too much money in SoCal chasing very few deals. Not really interesting in competing with my friends at ADU Pals for the ADU clients, Jonathan is much better at this (😉). So, I’m constantly scanning the market for new opportunities and try to make it just a little better. Not by reinventing the wheel—but by studying and following repeatable systems, adding creative ideas and adapting to my market, my circumstances and my own business plan.
You don’t have to be first, even though we are all programmed to think that we have to be pioneers.
You don’t have to be famous, modesty and humbleness will get your farther, actually.
You don’t have to be perfect, perfectionism is the creativity killer.
You just have to do the work, learn from those ahead of you, and start where you are.
You are NOT Special, and it’s fine! You just have to remember that if one person can do it, so can you.
Curious to hear other people modeling their success, on other people ideas and how you made it work better
Alex Lisnevsky