A published article of Stacey Alcorn in entrepreneur generously shared some lessons coming from a housing developer who redefined the whole housing industry. The thoughts of the founder and principal of WinnCompanies, Arthur Winn, regarding his 40 years of efforts in revolutionizing the entire affordable housing industry was capsulized by Alcorn in four significant thoughts. And here below are the four major lessons you may learn from an expert real estate investor and developer.
Setting Bars
In this context, Arthur Winn would like to convey that it is important that the community or neighborhood where a certain real estate project is to be located should be welcomed by the community itself, which is in the context of design and management of the planned housing project. As a developer or investor, you must let the community witness that the development of affordable housing is in par or even superior with the current housing stock. In sense you make your project distinct and yet in parallel to the needs and wants of the people.
Share Your Mission
As an investor or developer, you should likewise let the community be involved in your mission of success. In short, the residents do not only invest on the place or property, but they likewise invest because of the reputation of your company, and thus they should be treated with respect.
Creating Advocates
As experienced by Winn, there is no such thing as low-cost housing, for according to him, there only exists an affordable housing. In the background of this housing project are the federal state, local subsidies and private financial institutions that will support your advocacy or future projects. That is why consistency with your output is needed in order to meet or even exceed the standards of this people behind your project.
Exceeding Expectation
Stakeholders and residents as mentioned play vital role in the business. That is why it is necessary to please them through your diligence and passion for excellence. Always remember that you should be striving for excellence for it will soon ensue success.
Those were the four significant advices that Winn offered for investors and developers. However, the advice itself can be contextualized according to your own current situation and goal. Always remember that the points of his lessons are focused on service and dedication for excellence.
