The paper "Motivation Goes a Long Way in Directing the Business’ Course" is a great example of a Business Assignment. Real Estate has been a valuable part of society since time immemorial. The industry has experienced its fair share of ups and downs and without a doubt, uncertainty has always been commonplace with the industry. For those willing to venture in this cutthroat market, it is both a risky and bold of them to go where so many have made and lost hundreds of millions of dollars. For this interview, I decided to seek answers to some of the questions that make people to decide to either invest or turn around and run.
I approached Ms. Sarah O’ Connor who owns a successful real estate business that has thrived for so long. She is an inspiration to her community and to those who would hesitate to take advantage of this opportunity. Similar to Jack Dorsey from our previous lesson, people have great ideas but they are often afraid to take the first step towards achieving their dreams by pursuing those great ideas. For Sarah, she worked for a real estate organization until the day the owner decided to retire.
It was from the lack of an income source, coupled with the fact that previous clients were requesting her to manage their properties that she decided to start her own real estate business. Having borrowed the initial capital from the local bank, she legitimized her business by setting up an LLC and found some rental space from where her business would take root and later move to a larger building as the business expanded. According to Sarah, the business dates back to 2006 and has been growing steadily since then.
The journey, according to her has been exhilarating at the least as she has gotten to learn a lot from being the owner and not from behind the desk as she was used to for over 10 years. In the 11 years, she has worked as her own boss, she has learned the dos and don’ ts of the business and has even mentored a few individuals along the way. According to her, the experience gained is just timeless. As the business continues to grow, the question of expansion has to come up.
Sarah’ s real estate business, however, has not expanded in physical locations, but it has certainly grown its market share and the results are encouraging. Despite the one physical location, the business is continually leveraging the power of the internet to reach more clients. In terms of ownership, Sarah feels that the business is not big enough to accommodate a partner, but she intends to do so once it hits a certain cap. In the meantime, Sarah continues to take sole ownership of the business she founded.
She also indicated that most of the work, at this stage, can be effectively handled by a single individual but she hires a temporary assistant during different times of the year when the workload becomes too much for a single individual. She further clarifies that since the formation of the business, she has been the sole owner of the business.