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Real Estate agents you better choose, entrepreneur or proprietor?

I came to a huge realization over New Year’s about business. Large or small – simple or complex. It really doesn’t matter. There are three kinds: Proprietors, entrepreneurs and large corporations. Most of you – and most every business owner may unintentionally be a mere proprietor. You’re taking oxygen out of the air; your diverting capital out of the economy — but you’re NOT really adding a lot (if any) true contribution/benefit — beyond the commodity value of whatever goods or service you sell.   Peter Drucker – the mammoth business genius said it better than I ever could – the husband and wife who open a delicatessen or Mexican restaurant are surely taking a risk. But are they entrepreneurs? No! All they do is what has been done many times before them. They gamble on the increasing popularity of eating out in an area – but they create NEITHER a new satisfaction, nor a new consumer demand. The true entrepreneur has to have special characteristics over and above being new and small. In fact, Drucker believed that true entrepreneurs are a minority among most small businesses. I agree! True entrepreneurs are a rare and elite breed. They create something new, something different. They change, innovate or transmute values. In short, real entrepreneurs don’t need to be small or large. It’s more about your focus and purpose, AND COMMITMENT to transforming the industry/business model, value proposition, buying experience and overall benefit delivered to the consumer. People who need certainty are NOT likely to be or become true entrepreneurs. They are destined to be mere proprietors. Where’s the big difference? Drucker says it’s more about your business concept and theory…than current ability. The big key (he says), that differentiates the wheat from the chaff – the entrepreneurs from the proprietors is their commitment (or lack thereof) to purposeful innovation. The true entrepreneur is willing, eager to perceive change as a huge opportunity, rather than a threat or deterrent. He/she must have built-in commitment, to constantly improve their performance – on many different “fronts.” While proprietors cower from change, fears change, grovels and steeps themselves deep in the status quo… the true entrepreneur is ALWAYS excited, committed, continuously searching for new innovation. He/she wants innovation, they’re receptive to things that challenge their current beliefs, business structure or business model. Real entrepreneurs REACH for innovation. They work hard to discover, uncover, define, refine and initiate innovation. Mere proprietors try to hold on (desperately) to the past and what already exists. True entrepreneurs know that change and innovative thinking is the perpetual path to decisive advantage and profitable, sustainable growth. They find innovation an attractive concept to invest in, educate themselves on…and master. True entrepreneurs start their enterprises recognizing the constant need for innovation and factor into that need — the critical time frames required to stimulate the never-ending changes that propel their continued, purposeful existence. They’ve got continuous innovation plans laid out along with specific objectives/purposes for doing them. Now, to make this concept MORE complicated. Because, the direction of innovation your entrepreneurial business takes MUST focus where the business can make the maximum contribution to the market. How does someone realizes themself to be a mere proprietor “transform” into a true entrepreneur? You need a systematic commitment to abandon whatever in your business is outworn, obsolete, no longer productive as well as mistakes, failures, underperforming or misdirected efforts, actions or opportunities. Innovating requires a major effort that (frankly) most people reading this WON’T be willing to make. You have to be able to free your mind — to see your challenges as “benefits,” plus devote the financial resources and time/effort to make meaningful innovation occur. Do you know, for example, how desirable (or irrelevant) your value proposition, business approaches, marketing message, purchasing experience really is to the marketplace? Do you know how appealing (or unappealing) your current products/services are? Do you understand the changing attitudes, beliefs, behavior and buying dynamic of your market? Do you have a clue what additional/alternative channels and avenues of approach are available and how to best access/exploit them? Do you sense how much larger your business niche, product category will continue to grow or even remain relevant? Do you understand what product/service alternative might take their place and why and how – and when? Do you have a plan for compensating or exploiting this outcome? Do you know IF or where/when your current business and its marketing/selling/product/value proposition will become obsolete? And if you answer “yes” to any/every question, do you have a proactive/entrepreneurial strategy in place — to address these issues? Again, change is certain. Businesses grow or die. But growth connotes much more than merely multiplying current revenue and even profits. Do you understand that “opportunity” means constant innovation, not just finding more sources of current buyers? If opportunities to innovate die from neglect, your business can die along with them. If you are a true entrepreneur, you understand the need to stay deeply focused on both the problems, and on the emerging opportunities. Finally, true entrepreneurs recognize that innovations almost always start out small. But if nourished and respected – should end up producing BIG payoffs I’ve decided to organize a monthly gathering of TRUE entrepreneurs in my industry, real estate, to engineer innovation breakthroughs in marketing, strategy, technology, management. We’ll focus on the nine drivers of exponential business growth: Marketing, Strategy, Capital, Business Model, Relationships, Distribution Channels, Products/Services, Processes/Procedures/Systems, and Ideology My intention is to make significant changes in our industry in order to offer the Austin, Texas real estate market a more meaningful and satisfying experience, creating multiple revenue streams while substantially increasing our market share. We just returned from a family ski trip in Vail, Colorado. We stayed at the Ritz-Carlton in Lion’s Head. The level of service and quality of our experience made me realize that the very survival of the real estate industry must take on the precision and efficiency of a highly committed customer service enigma. A new set of rules that are not only innovative but responsible and meaningful to our customers. The Paradigm shift will be sharing all of these new ideas and rules with our very competition, not to allow money to be the driving force for what we do, but instead cooperating with other agents because we accept the responsibility of our industry’s commitment to superior performance, market knowledge and over-all customer service. Cheers to a new era in real estate. To participate / contribute please contact me @ or at my office at 512-328-0058 x 284.

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