Money matters

Anyone who has lost opportunity or money begins to ask 'how does it happen and why me?' I always thought about it as it needed deep thoughts being a complicated subject, yes moneymaking is not as easy as we think it is especially in a poor country like ours where too many people are trying to be rich but very few succeeding in becoming rich. I think we should start a lesson in our schools about moneymaking or a full course will do better at school and college level. What I feel that these would prove invaluable in our education system and we considered, as underdogs in money matters would be able to help our future citizen becoming wiser and more sensible in management of financial department. However, we know that we do not have such courses in our country, which teach money making therefore, I would like to share some of my own experiences with you.

I have an idea to provide

I do not think that I am one who can teach how to earn money as that was never my expertise but as marketing professional who has studied art of making money for others as well management of finance and men power. It is my genuine hope that I could be of some help to offer some ideas and fundamentals of making money and all this with practical and real life ideas. I hope we all have heard the saying that if you give someone bread, he can eat it to satiate himself for the day but if you teach him how to cook bread, he can feed himself for rest of his life. Therefore, I have in my mind to provide you with ideas about cooking food for yourself to keep your hunger away for rest of your life.

Why should you choose real estate business? 

I would like you to have trust in yourself before you start having faith in me, I would like you do every thing with an open mind and have belief in saying that every thing is possible no matter what is your background. First of all, we must understand that we are one of the fastest growing countries in the word and here I am talking in terms of population. We have large number of houses but still not enough for everyone to provide proper shelter thus a great number of property brokers have surfaced who cater to the needs of home seekers in lawful as well unlawful manner unlike developed countries where such business is considered respectful and full of ethics, catering genuinely for the needs of home seekers. 

Now the main question, just why you should choose to enter into real estate business, let me answer it for you by points- 

A- Do you think you want to make money - you might think I am cutting jokes but that is reality for most of us who enter in a business thinking that it’s as easy as 1-2-3 once you have invested in office building and opened an office, hired a staff and bought impressive furniture matching to your carpet. Now what you do is, wait for the prospective customers to flock in and lined up for business. Excuse me, if I say that for most of us Indians the upbringing does not match the art of money making but it is grossly misunderstood and looks as if it is absolutely unobtainable except in certain areas like Gujarat and Punjab or maybe a few more areas where people understand the idea of business including Rajasthan to some extent. Most of us do not understand economics of business although we all are crazy about money. So, the first question is, are we ready to earn? Business in real estate needs hard work that you should keep in mind.

B- You must be ready to spend time for your business- Time is another important factor in real estate business because a customer is like a hopper who visits tens of places before zeroing on to a particular property. You must have tons of patience a rare quality in today’s world because everyone wants to make it big overnight. Here I can quote a famous one said by Neil Eskelin “Every farmer knows that you can’t sow and reap the same day. There is a timetable for your harvest that requires both working and waiting. Patience is small price to pay for what you will receive”  What I want to say that closing a deal takes lots of time, endurance and patience therefore do not rush up things but be patient. You may find some customers who might want you to show them hundred s of properties before deciding or to be worse, not deciding at all but that is your test of patience where you can win or fail. However the average buyer sees ten properties and the perhaps decides. You should know about his personal taste to make things easy for you and your customers and never forget the golden rule ‘more properties in hand better your chances to close the deal. Finally it will depend on how much time you have devoted researching for properties for all tastes. Remember time is one main investment in your business. 

C- Do you want to be a businessman or you prefer a job - Or should I ask whether you like to make profits or wish to earn wages? The moment you know the answer, you shall be rich provided your answer says ‘you love to gain profits’. Right, wages are secure but you never become rich, the moment you know the difference in between wages and profits, you begin your journey toward richness. The understanding of profit will go long way with you rather it will serve you for rest of your life. Since you have chosen real estate as your business and as a businessman you should know that you are not doing it for charity but for making profits. Remember that companies, banks or other financial institutes do not do business for customers but for themselves although customer is like god for them. You must keep just one object in mind that your primary object is to earn profit keeping business ethics in mind. There is another aspect of business the volume of earning but that comes with time. Volumes, profit margins are strictly subject to your experience and relations with customers, which only come with time spent in the market and experience gained. You can learn how to get business from others but how you handle your customers and how you deal with them is your own choice, do it carefully.

Conclusion

Now you know that this is the profit that rules the world and everyone who is working wants it someway or the other. I have given you the fundamentals only but you have to take action. I have only given you a very rough idea of a particular business, which is very much in demand in our country due to scarcity of land and dwelling units. You have to go deeper into the subject by reading different other aspects of the business like causes, sub clauses of taxation, income tax rebates, registration, growth charts of a particular area, and other marketing tools. There is another fact you must know as a fresh businessman that you must set your targets, which are affordable, as well gettable. You should never compromise with business ethics to remain in good books of your customers who are the best publicity agents for you. Here is the last but not the least suggestion from me that once you begin getting business and earn money, your lifestyle will change accordingly but make sure that you will never change your business ethics and will never compromise with your business principles.  

Photo source- wikipedia