How to Work Small Businesses – A Fundamental Story
5 Years and Out
Most small businesses don’t last five years, and they disappear from the business landscape. The reasons are numerous, and over the days, months and years ahead, I intend to review why some businesses survive, and others fade away.
According to Wikipedia, small businesses usually are privately owned corporations, partnerships, or sole proprietorships. What activities support as “small” essential government support and tax policy varies depending on the country and industry. https://en.wikipedia.org/wiki/Small_business
Today marks the 10th Anniversary of our company’s incorporation, and I am very proud of that fact. Late last year, I started to retool and enhance our business model.
I am not moving away from my roots regarding investment real estate; my broad-stroke goal or mantra is;
” Prosperity for All Aspects of Your Life, Forever.”
Today also marks my 25 Blog Post; it is a landmark number for me and hopefully for my readership. The intention is to provide valuable content to help those interested in adding investment real estate to their financial portfolio.
At the beginning of starting our small business, we focused on one niche, investment real estate, and ten years later, we have stayed true to our roots. We have enjoyed some very prosperous years, but we have also had years where we broke even.
The path to the front door of investment real estate is never straight.
In most countries, investment real estate is considered a business, and you are subject to tax rules regarding small businesses. Over the months and years ahead, I will write about small business operations and talk to small business and entrepreneurial experts.
I have talked about the book “Rich Dad, Poor Dad’ by Robert Kiyosaki as a must-read, whatever small business venture you undertake. I would also recommend some of the Rich Dad Advisors books. ( only compensation I have received is the value from these books)
A Business Plan; the Last Thought
When I looked to start retooling my investment real estate business, I knew I would have to spend more time developing a business plan.
When we initially incorporated, we said we were going to “Purchase Investment Real Estate; that was the only words in our entire business plan. It’s a pretty simple business mantra.
There was one little gem I had added to our incorporation and provided little focus to this area. Our company’s goals included coaching, consulting and education in the field of investment real estate, but that area of our plan was pretty much dormant.
With ten years under our belt purchasing investment real estate, it took a change in employment to shake the foundation of my career and personal life.
Upon this change in my career, I ramped up my focus on my investment real estate business. For the first several years, my business mindset focused on the Bricks and Mortar side of the investment real estate business.
The Shift in Direction: What’s on Your Mind?
What was on my mind was how to share this monumental change in my career life and the survival lessons. This monumental change turned out to be a new exciting beginning.
I heard a saying, “Everyone has at least one book in them to write,” and this simple act of putting pen to paper has changed my whole thought process.
This one act of putting pen to paper has led to my book currently being edited and submitted to a publisher. An opportunity to write on an ongoing basis for one of Canada’s largest investment real estate magazines, REINLife, in April 2018 will launch a Podcast show and continue to post blogs twice a week, providing actionable content regarding investment real estate.
I thank each and everyone who has supported reading my blogs; you have no idea how grateful I am for your support.
One of Two Actions; Please and Thank You
If you are enjoying my investment real estate content, please recommend my blog to others. The second action is to post a comment at the bottom of any of my blog posts and let me know if I am giving you the content you are looking for regarding investment real estate; let me know if there is information I could provide that you would love to see.
Warmest Appreciation,
Rick
About the author, W. Rick
Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.
An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.
In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.
Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.
Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.
Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?
An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.
Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.
Thank you for taking the only asset that gives us so much through life, but we can never get back our time.
Please join Rick on living his mantra:
” Prosperity for all aspects of your life forever.” W. Rick Harris