financial lessons learnt from spain poor worldcup performance
The ongoing FIFA 2014 World cup in Brazil has witnessed a number of upsets, chief of which is the ouster of the defending champions, Spain, at the group stage. Spain won the 2010 FIFA world cup and also won the Euro 2012 football competition two years later. So, expectedly, the football world was shocked when the Spanish team crashed out of the 2014 FIFA World after losing 2 consecutive matches and conceding 6 goals in the process!
You might be wondering what this might have to do with the real estate sector – quite a lot. There are so many lessons that players in the real estate sector can draw from this occurrence:
Be at The Top of Your Game Always
Just like the game of football, the real estate business is a very competitive one; there is no room for dilly-dallying. Whether you an agent, investor, developer, financier or marketer, you must consistently bring
your best to the table and consistent success will be guaranteed. An American actor, Mike Farrell once said “If you try to do your best, there is no failure”. Spain definitely did not bring their best to the football mundial and they lost out! So this is a wake-up call; challenge yourself and do your best always
Never Take Your Competition for Granted
When you are out there in the field buying, selling or developing real estate, never underrate your competition; they can cause a major upset. While acknowledging the fact that there are big names in the industry, we must also understand that with the right preparation and determination, even the small fish can cause a major upset (and Chile proved that). So work hard and stay competitive!
Don’t be Too Relaxed at the Top
Some popular real estate companies have actually gone bankrupt because they lost their ‘flair’ when they got to the top. Some top-notch real estate players have the notion that their name would speak for them. Yes, your name would speak for you but not for long. The real estate business is very competitive and there are a lot of new players out there bringing out better, more innovative and more customer friendly ideas determined to ‘mop up’ your clients. So, get creative and rekindle your zest for real estate so you can continue staying at the top.
Always Monitor Market Trends and Adapt
2014 witnessed the failure of the ‘tiki taka’ style of football to win laurels as was seen in the case of the Spanish national team and the Barcelona FC team, also in Spain. Prior to 2013/2014, the tiki taka style of football bestowed a mantle of invincibility on both teams; they were virtually unstoppable! Opposing teams went to the drawing board and found a way of tackling the ’tiki taka’ behemoth; and they succeeded! Taking a cue from this, the real estate sector has constantly changing trends and one must be abreast of the recent happenings in the sector in order to make the best and most effective business decisions. The plan that has been working for you for several years might not work for you this year because certain factors might have come into play which might render your business plan ineffective. Always research and be in touch with current market trends to avoid losing out.