As soon as I got my real estate license in 2003, I was more into investing than selling properties. So, I read books, attended seminars, and became members of real estate investment groups. They were all pointing me to focus on "Cash Flow" when investing in real estate. Cash flow was the name of the game. Everyone I knew in the industry, focused on it. The slogan "Cash flow is king" could be heard from everyone I listened to. In 2006, I bought my first investment property, a triplex, with the concept of cash flow in mind. A few months later, I bought another one with the same idea. Within a couple of years, I had multiple properties in multiple cities, cash flow being the main driver. I was expecting to receive a good monthly lump sum from all my properties. I planned to rely on the proceeds of my properties to pay for my living expenses. I was not that far into my cash flow dreams when I was awaken by the reality of investing in real estate. Due to lack of experience, I was wrongly under the illusion that all my properties would be cash flowing. Not knowing that the reality is that there are always unforeseen situations which could change that equation. My properties were cash flowing on paper, but was draining cash in reality. It was naive of me to consider the best case scenario. After much loss and disappointments, finally I came to my senses and realized that most of my properties do not cash flow. I learned, in a hard way, that in some rare cases where a property might cash flow, one has to consider the worst case scenario or at the very least a realistic scenario, and for sure not best case scenario. Something always happens to a property that we have not thought of and it tilts the cashflow balance negatively. I got a clear indication that cash flow was not my cup of tea. It was not realistic for me. It was good on paper, but not in reality. I had to change my real estate investment direction. After much research and observation of others, I concluded to buy a property with exit strategy in mind. My strategy was that I will buy a property, add value, and wait for the right buyer to appreciate what I have done with the property. For this strategy, I was not dependent on cash flow, and in fact I needed a lot more funds to add value to the property. I made my financial arrangements accordingly and more importantly I arranged my expectations accordingly.
I started investing in properties that had the potential of a growth trajectory. The negative cash flow was not bothering me as much as it used to as I had a long term vision in mind. Although this strategy had its own risks, but overall my risk was minimal as I was buying a property with a buyer in mind. I would not consider a property if it did not have a potential to add value and a clear exit strategy. Luckily this strategy worked for me. I took on some significant projects and the outcomes were better than I anticipated. Of course, this strategy has its own challenges, perhaps much more than the previous ones. Not to mention, continuously injecting funds into the project is not fun. My stress level was high as the stakes were high, but at the end it was all worth it. With the confidence of my strategy working for me, I started preaching others to do the same. I suggested to my friends and people who sought my advice, to invest in real estate based on adding value. I was very confident in my way of doing business, until one of my Co-Contributors made me realize otherwise. He told me that: "this way might work for you because of your access to funds, but it is not workable for everyone." He continued saying: "most people need cash flow to run their lives, but more so they don't have additional money to inject into the property." "Not to mention," he said: "most people can not wait for years to receive the money." Most people want immediate results or at the very least not paying to the property out of their pocket. Once again, my Co-Contributor made me realize that I was in love with my idea. I should have known better that if it worked for me, it doesn't mean it will work for everyone. Our way of doing things are mostly influenced from our experiences and because each one of us have our own unique life situations, our way of doing things may not work for everyone. We can easily fall in love with our ideas. We forget that others have their own priorities and situations. Our Co-Contributor is the best source to awaken us to the reality and give us a dose of a different perspective. If we understand that our way is one of the ways of doing things, we might be more considered of other people's situations. At the very least, we will first try to understand people's circumstances and then give our suggestions accordingly. We can easily fall in the trap of seeing the world from our perspective only. Our ideas are influenced by our circumstances. Our life experiences impact our outlook. As an entrepreneur, we all have our own limitations and we need someone to remind us of others' perspectives. Our Co-Contributor is our best reminder to show us another way of looking at things. If we fall in love with our ideas and if there is no one to make us realize, we might realize it when it is too late. A Co-Contributor always looks out for the best interest of a fellow Co-Contributor and the best way to do that is to make us realize that our way is not the only way. Our Co-Contributor balances our outlook by showing us another perspective, as the saying goes: "our friend is our mirror."
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In the year 2012, I acquired an office building in a prime area located in the heart of the city. At that time, the idea of shared office space was in trend. I wanted to ride with the wave and turn one of the floors of my office building into a shared working space. We wanted to introduce our space to our city's business community in an unforgettable way. So, we decided to launch, our so called shared co-working space, with a "big" event. Our ideas about this special event was ranging from a simple gathering to a glamorous night out. After much brainstorming and consulting, we decided to have a networking expo event at our facility just before the holiday season. We wanted to bring the happiness of holidays into the launch of our business centre. In order to entice people to attend our event, we wanted to invite dignitaries. One of our dignitaries was a very prominent person who would attract others to attend our event. We were not sure if he would show up. We were hesitant whether we should invite this special guest or not. We were concerned that at the last minute he may cancel. We were worried if he didn't show up it will reflect on our reputation. In that case, the drawbacks of having the event might be more than the benefit. With a hesitant mind, I went out with one of my Co-Contributors to discuss this issue. I comfortably opened up to him, with all my vulnerabilities about this event. I told him: "I badly need this guy, but I am afraid that he may not show up." After going much back and forth, he finally told me that: "if you do a good job, he will definitely show up." This one sentence, from my Co-Contributor, made a world of difference for me. It boosted my confidence. His words convinced me that our special guest's attendance is dependent on our level of workmanship. So, we put all our efforts together to do the best we could. We did our best and prepared for the event to the best of our abilities and our special guest observed our efforts and he did show up. Our event was so successful that to this day people talk about it. It became the talk of the town for quite some time. All this would have not been possible without that one sentence from my Co-Contributor. First of all I am not sure if I would have invited our special guest and secondly even if I did, I would have been hesitant in my approach which could be easily noticed. As a result, the event might have not been as successful as it was.
We need at the very least one person, in our business, who we can open up and tell our true feelings. In business, we may act strong, but in our hearts of heart we may have fear. Sometimes, we launch our idea showing full confidence, but we are not sure if it will work. We need someone who can tell us: "go for it" and convince us with confidence. At the time of hesitation, which happens quite often in business, we need our Co-Contributor to help us decide firmly and profoundly. We may go back and forth between ourselves, but once we make a decision, we should be fully on board. This could only happen if we are fully open and transparent with our Co-Contributor. Of course, we can only be open and transparent if we see our Co-Contributor as our Confidant. It is hard to be ourselves in most of our life circumstances. I understand that it is hard to open up to others. It is hard to open up in front of our partners, colleagues, co-workers, employees, etc. Sometimes, it is a conflict of interest and at other times we may be concerned that if we open up, it may jeopardize our position. There are times, in our life journey, that we have been compromised when we opened up to others. As a result, we are very hesitant to open up and be ourselves with others. However, as an entrepreneur we need a person whom we can be ourselves with. No one can help us properly unless we are transparent with them. We need to put all our issues on the table so that it could be diagnosed candidly. So as an entrepreneur, the question is not whether we need a confidant or not, but rather how can we find one. I would suggest that the best way is to position ourselves in a way so that we can play the role of a confidant into someone else's life. If we become a confidant for an entrepreneur, they will eventually become our confidant as well. It all starts with us becoming a Co-Contributor in someone else's life. The role of a Co-Contributor as our confidant is quite crucial. We disclose our real issues with them. We feel protected around them. We feel that they will not judge us. We can be open in front of them and they will not disclose our weaknesses to others. More importantly, the best solution comes up when we are open with each other. If we have someone like that in our business, the chances of our success goes much higher. We must have all heard about the exponential power of leverage where one plus one equals eleven (not two or even three). For some of us, this might be just a motivational statement and we may not take the time to digest the concept. This exponential phenomenon could be ours if we truly leverage the power of our unity. Real life examples of exponential power might encourage us to believe and implement the concept in our life and business. So, lets dive in and look for practical applications of one plus one equals eleven. One of the industries where the concept of one plus one equals eleven is the construction industry. We have experienced exponential outcomes when relevant stakeholders have come together to contribute in the execution and completion of a construction project. In fact, participation by well-connected contractors had multiplied the value of the project as a whole and for each stakeholder. At the very least the outcome for each stakeholder has been higher than if they were doing it all by themselves. For a project to have multiple returns for all involved, the following POINTs have to be observed.
P - PromiseMake a promise and believe in what you promise. Perhaps more importantly, make sure to deliver what you promise. Generally speaking, construction projects usually are not delivered within the specified timelines and/or allocated budget. The bigger question is what can we do about this issue as it is costing the reputation of our business in particular, and our industry as a whole. We may not be able to solve this problem for everyone in every project at all times, but definitely we can do something about it. We can try to improve our situation. One of the main reasons that we can not deliver what we promise is that we try to handle multiple projects at the same time. I understand that the nature of our industry is such that we want to secure our future by lining up more contracts in our pipeline. I appreciate that we want consistent job for our workers. We want a stable business. But maybe we can find other ways to bring stability to our business instead of juggling with multiple projects at the same time. If we give our full attention to the project on hand and deliver what we promise, we will have consistent business in the long run. Our clients will happily refer us to others. We will earn a name for ourselves in an industry where people are hesitant to refer. We just have to be patient to reap the reward of delivering what we promised on time and within the budget. Another temptation for a contractor could be to undertake multiple aspects of the same project. It is never a good idea in any business to be everything to everyone and particularly this is definitely not a good approach in the construction business. People who try to work on different aspects of a project usually jeopardize the quality of the project as a whole. As a result, this type of contractor always chases new business and the vicious cycle continues. Instead of being involved in multiple aspects of a project, it is much better to specialize in one thing. Each project will improve the contractor's skills and knowledge in that particular area. The contractor will deliver with higher quality of workmanship and be more efficient with each undertaking. As a result, this type of contractor will do more business and eventually will be known for a very defined specialization in the industry. A specialized contractor is in the best position to offer end to end solution because every detail is known to a specialist. They dive deep into a particular area which makes them considerate of all possibilities. When one contractor does one thing and does it very well, the chance of projects being delivered efficiently, within the specified time and perhaps within the allocated budget goes higher. O - OwnershipAll the parties involved in a project should take a sense of ownership for the project as a whole and for their specific section in particular. What does it mean to take a "sense of ownership?" All it means is that the person in charge treats the project as if it is their own initiative. As a result of "sense of ownership" mindset, stakeholders are not driven by tasks, but rather by results. They do what they are required to do and at the same time, they look out for the outcome of the project as a whole. So, they don't say: "I have done my job" but rather they ask themselves: "Did my task move the project forward?" Task-oriented people look for excuses to justify their action whereas result-oriented people look for opportunities to move things forward. People with a sense of ownership have the image of the bigger picture of a completed project in mind, not just their own task or responsibility. In construction, we can do our job and call it a day or we can take a sense of ownership and go above and beyond. When we go above and beyond, we earn a reputation for ourselves. It builds our image and as a result builds our business in the long run. Not to mention that this type of approach to business will earn us many friends who count on us and rely on our commitments. When people rely on us and count on our commitments it is a blessing. This is a gift that many don't have and we are able to earn it by simply going above and beyond. We do more than just what is required of us or expected of us. At the very least, we point out a better way when we see others in a challenging situation. Basically, going above and beyond is neither our duty nor our obligation, but rather it defines who we are. It is our personality trait. People recognize us because of our generous gestures. As a result, we become a moral support for many, and empowering many others, especially the newbies joining the industry. They realize that we truly see our success in their success. I - ImproveThe nature of the construction business is such that we always have room for improvement. We will always learn from our mistakes. So, we have to be flexible enough to learn from others. We have to be open to suggestions and criticisms. When our colleagues criticize our work, we should not take it personal. It is about the work, not us. By listening and learning, we improve our skills. So, constructive criticisms are good for us. It is an essential part of being in the construction business. It is in our best interest when our co-workers show us a better way of doing things. With that in mind, we can also return the favour and do the same. We can share our experiences and expertise. We can save our colleague's time and effort by sharing ways that might take them some time to find out. Why not share the path that we have already travelled? We have to be mindful and considerate when we make suggestions to others. We can not afford to offend them or demonize them. Lets put ourselves in their shoes. We are builders, not destroyers. And builders build with their craft, not destroy with their impatience. We want to enrich ourselves by enriching others. We want to bridge the gap, not divide. Seeing others is the best trait that we can learn to earn. Understanding where others come from and why they do what they do will help us put ourselves in their shoes. We may not necessarily agree the way they do things, but we can try to understand them. As a result, our approach will be more considerate and with kindness. N - NotifyAs a construction contractor, we are so dedicated to our project that we put our head down and focus on the job to be done. We give much importance to the actual work. As a result, we may not have the time or patience to find moments to take ourselves out of the job and try to be "on the" business instead of "in the" business. Sometimes, by being too involved, we might miss the point. We might lose the track. We might forget to connect the dots. So, it is very crucial to take the time to engage with our colleagues and all stakeholders involved. Sometimes, a few moments of brainstorming can save us from upcoming challenges. It is crucial for all stakeholders to allocate a time to meet on regular basis. The frequency of meetings depend on the nature of the project and the number of stakeholders involved. At the very minimum weekly meetings are a must. Lack of communication could lead to misunderstandings which could delay the project and jeopardize our relationships with other co-workers. Regular meetings will minimize miscommunications. It is always better to know and act rather than to assume and act. Being aware of what is going on will help everyone involved. T - TransparencyTrust is the key in every business and more so in the construction business. Contractors rely on each other to finish the job. Of course, doing the job on time with quality of workmanship is a practical proof to build the reputation of a contractor. But transparency takes the relationship to the next level. Trust based on transparency is solid like rock. Transparency not only solidifies the relationships, but more importantly expedites the project. The project moves faster when all stakeholders in a project are transparent with each other. No one is thinking of protecting their best interest as everyone feels at peace with each other. Instead of wasting the energy on managing expectations, the full energy is allocated to the project. When there is a lack of transparency and lack of trust, all stakeholders try to protect themselves from others and as a result most of the energy is wasted on protective measures instead of working on the project. Transparency makes everyone enjoy the journey while giving their full attention to the completion of the project. So, transparency is the best policy for everyone involved. Again, when we take the ownership of the project, we will treat it as if it is our own project. So, maintaining a transparent relationship with our co-workers is part of who we are and we see it as our duty and responsibility. s - serviceWe are so focused on the completion of our project that we may forget the service after the project is completed. Sometimes, we might be relieved with the completion of the project not worrying about the after-completion scenario and as result, we might abandon the project. Our reputation is not only in the completion of the project, but also making sure that the project carries on smoothly with no issues for our client. We have to integrate the after service as part of the project. We have to adapt a system that takes care of the client after the completion of the project. Our image could be tarnished despite delivering the project as promised if we mess up the after completion service. The last impression is the lasting impression. It is better that we pay attention to this aspect and make sure that the clients are taken care of. Creativity in construction is a topic that may not be discussed in public domains, but people working in the construction industry are one of the most creative people. In the world of construction, there are many times where a challenge comes up that is unique and unknown. There is no previous instruction or manual as each challenge could be different and distinctive. Outside the box thinking and creative ideas are implemented to solve the problem. Construction people are lucky enough to have a support system in solving the problems. They brainstorm and pick on the minds of their colleagues and co-workers to come up with the best possible solution within a limited time frame. Their mind works much better when they problem-solve with each other. Their creativity arises when they "co-solve." This is yet another industry which practically proves that our Co-Contributor is our sounding board and the most invaluable gift. A Co-Contributor is a blessing for any entrepreneur and more so for those of us that are involved in the construction industry. There are moments of soul searching in our business, where our Co-Contributor can play a crucial role. Sometimes solving a construction problem needs creativity and who else could be a better contributor than our own Co-Contributor? Brainstorming with our Co-Contributor always lead to rewarding outcomes. When we exchange ideas freely and openly, valuable propositions come to mind. Opportunities arise when we are around our Co-Contributor, if nothing else just observing them might be a new opening to solving our existing issues. Our creativity flows when we brainstorm and observe our Co-Contributor. A creative solution is a lot more valuable than just an idea. Ideas are dime a dozen, but a creative solution is a rare commodity - a solution that can solve the problem in an inspiring and innovative way. A creative solution handles the problem in a manner where all the people involved in solving the problem enjoys the journey. As a result, solving the problem is no longer a work to do, but rather a journey to enjoy. That is why a creative solution might make the implementation and execution more actionable. People will enroll to do the job because they enjoy it and this is a great achievement in solving any problem in any business, especially in construction. As mentioned earlier, each construction project is a unique undertaking. There are no two projects alike. Each one has its own opportunities and challenges. This distinctive aspect of construction makes it attractive for creative people. They wake up in the morning looking for a new challenge to overcome and a new opportunity to explore. Each day requires its own creativity. This is where the contributions of a Co-Contributor becomes quite crucial. A Co-Contributor can play a meaningful role in helping us to come up with creative solutions in handling our issues. In the long run creative ideas solve the problem with less cost and time. More importantly, creative solutions lead to creative design which makes the problem-solving journey much smoother for everyone involved. Envisioning our journey with design thinking in mind is more important than the superficial and aesthetic design. For instance, one of the challenges that we face today is the issue of housing supply and affordability. I have a firm belief that if our people in the construction industry get together and brainstorm, they will come up with actionable and creative solution(s). They may not be able to solve all the problems related to housing issues, but they can definitely contribute to moving the issue forward for a better outcome.
Of course, we need a multifaceted approach in solving our housing problem. There are many aspects to this challenge ranging from finance to zoning. Many of these issues may not be relevant to the construction industry. However, definitely, one of the most important aspect of this issue, if not the most important, is directly related to the construction industry. Our construction people are at the forefront of the housing supply. They have a better understanding of the issue than most of us. Imagine a scenario where these folks put all their experiences and expertise on the table to be explored. There is not even a shadow of doubt in my mind that they will create a progressive momentum. We have to understand that when construction people feel comfortable and open up, a lot of creative solutions come on the table. For a creative solution to come up, we have to have an open mind and willing to put all our cards on the table with no hesitation. In order to make this a reality, we have to facilitate an environment where people feel comfortable enough to trust each other. Additionally, we need an ecosystem where we listen and understand with peace of mind and patience. Bottom line is that in the world of construction, creative solutions go a long way. In order to come up with creative solutions, we need our Co-Contributor(s) to back us up in facilitating the environment. Creative solutions come up in conditions where Co-Contributors contribute with no hesitation and fear of judgement. Everyone involved is at peace. In my teenage years, one of the proverbs that occupied my mind was: "Out of the hottest fire, comes the strongest steel." I was wondering what that means? As a teenager, I thought that fire melt things. How can it make it stronger? The end of my teenage years was the beginning of my entrepreneurship journey. At the outset, I was naïve and highly delicate to business circumstances and challenges. I thought if I do everything according to what I thought, nothing should go wrong. As a result, at the beginning, I never expected a major challenge to come up. So, I was never prepared for it. As I travelled through the journey of entrepreneurship, I faced one challenge after the other. The initial challenges were felt like mountains as I was not prepared for them. As I experienced facing problems, I got used to it to the extent that I was expecting issues to keep on coming up. Finally, I got it that challenges are part of doing business. Further, I realized that the more challenges I faced, the more I was prepared for the upcoming challenges. Problems can not go away. What we do with them and how we manage them are what sets us apart as entrepreneurs. The more hardships we face, the stronger we get. The more scars we have, the more prepared we are. Of course, this doesn't mean that we should invite problems. But if problems come to us, we should embrace them and understand that in the long run it serves us very well. We just have to be patient and wait for the outcome. When we triumph, by going through our challenges, we always turn out to be better than before. Construction Tradespeople are the type of professionals who embody the resiliency of going through and coming out of challenges. In their business journey, they go through quite a wide spectrum of challenges, but they do not give up. They are stronger as a result of those hardships and more importantly, they are who they are because of those challenges. Overcoming hardships made them successful individuals with well-established businesses. Going through what they went through made them the best at what they do. Generally speaking, before a problem comes up we have fear of it, during the challenge we go through hardships, but once we are over it, we feel content. We feel a sense of accomplishment that we have conquered our challenge and now we are moving on. It is a sense of containment. This feeling stays with us and prepares us for the upcoming challenges. That is why challenges make us stronger as long as we don't give up.
When we face hardships in life and come through it, we are more prepared to take on life. The reality of business is that we will face challenges. There is no exception. The more we are exposed to challenges, the better it prepares us to solve bigger and harder problems. Therefore, we ought to accept challenges as part of doing business or even better to embrace challenges as practicing to be a stronger entrepreneur. As an entrepreneur, we might be scared of issues coming up in front of us. We might be bothered by problems. Once we experience a challenge or two, we realize that yes it was not easy, but it was not a big deal. Or at least it was not as big of a deal as we thought. So, challenges make us less worried about the problems that may come up. After going through a few challenges, we realize that they are not as big as it seems. The ambitious plan that we have laid out for ourselves, we might have a long way to go and we ought to get ready for this tumultuous journey. It is better to get over earlier challenges so that coming challenges do not scare us. If we don't go through hardships and all of a sudden we face a major issue, I am afraid that we might give up. I would rather want us to practice overcoming challenges so that we can be prepared for any upcoming issue. There is no doubt that challenges make us stronger, but we need to go through it to be stronger. If we are stuck in it, then we might give up or worse become hopeless. In that case, not only challenges have not made us stronger, but failed us miserably. One of the best resources to help us get through our challenges is to rely on our Co-Contributor(s) during our hardship moments. Challenges are hard to digest and it is even harder if we are handling it all by ourselves. The main role of our Co-Contributor is to stand with us through thick and thin. A Co-Contributor may not necessarily solve the problem, but they may be there to listen to us, help us and more importantly understand us as to what we are going through. Our Co-Contributor is our sounding board. Whenever we are in doubt, we try to reflect with our sounding board. This practice alone will help to avoid giving up during challenging times. Our Co-Contributor plays a crucial role in helping us to go through the challenge and come out of it. Once we have gone through a challenge, when we look back and reflect, we realize that maybe without a Co-Contributor it would have been a lot more painful. Our Co-Contributors are our source of empowerment to tackle our challenges. Their contribution is always valuable, but they are valued the most during our challenging days. When we are in our dark moments, we want to know that someone knows what we are going through. This in itself is good enough to give us some energy to keep on moving forward. Overcoming challenges breeds achievement. We have to go through and overcome our challenges to have a sense of accomplishment. Without going through it, we might feel the opposite, a sense of failure. Who else could be better than our Co-Contributor to pull us up, during our challenging times, by being there for us? During our first development project, our team was highly nervous. Even though my partner comes from a residential construction background, we were all anxious in every aspect of this new project. This was our first commercial real estate construction and development. We were putting together our team as we were doing the work. We had a steep learning curve. One of the areas that we were highly anxious about was our construction financing. We were not certain whether we will get approved or not, and even if we did, we were not sure if we could keep up with the requirements. The situation got into nerve-racking, considering that we borrowed from one of Canada's major financial institutions. We would like to believe that a miracle happened while working with a gentleman, named Bryceson Dodge, at the bank. Like any other bank representative, he helped us go through the process and the paperwork requirements. What made him a saviour for us was his commitment and willingness to go above and beyond. He took a sense of ownership in our project and our success. He literally led us by holding our hand and guiding it in the right place for the right reason at the right time. For instance, due to shortage of labour and our scheduling mismanagement, we had our structural steel prepared to be delivered, but we were not ready to receive it. On one hand, we were going to pay a very high stocking and storage fee and on the other hand, the steel manufacturer was demanding their payment. Our problem was that we were not eligible to receive the funds from the bank, as we were yet to install the steel on our ground. Long story short, our man at the bank, Bryceson, figured it out and we moved the steel to our grounds. Somehow the funds were processed and as a result we didn't have to pay the high fees. This was not only a big saving, specially considering for a new developer, but more importantly avoiding legal and financial headaches. This was one of, many examples of Bryceson going above and beyond which he didn't have to.
Of course, during our project we were delighted that he accommodated us, but we appreciated him even more after the project was completed. We worked with other financial institutions and we didn't have the same level of service. For that matter, we did business with the same bank, different people, but the experience was not the same. We realized that Bryceson was our man at the bank. It is not the organization, but rather the people in the organization that makes or breaks people's experiences. It is true that staff come and go and the institutions remain. It is equally true that each individual gives different experiences no matter how organized and systemized the institution is. It is the characteristics of personalities that define their level of commitment. It is the nature of people that transcends through the paperwork. People with contributing nature try to offer their best no matter where they are. It is in their DNA. They could be an employee or an entrepreneur. They position themselves so that they can offer the best they can. As a result, they connect and surround themselves with the best people possible. They are blessed to attract people that align with their values and principles. Keeping the best interest of others in mind is the ultimate way to position ourselves. This is how real connections are formed. This is how relationships are deepened. This is how we find our Co-Contributors. A person who goes above and beyond eventually lands on relationships that are meaningful and life changing. It might take time, but it definitely happens. A Co-Contributor contributes into someone else's life with full desire. There is no expectation. It is just out of a heart full of abundance. It is a sense of fulfilment that moves and motivates a Co-Contributor to keep on giving. It just happens that the universe works in some mysterious ways and a giving person receives back in multiple folds. It is just the nature of how the world works. It might sound naïve, but it is true. Co-Contributors just enjoy the journey of contributing into each others' projects. Nothing can replace the joy of a Co-Contributor seeing the success of his fellow Co-Contributor. A Co-Contributor is delighted if they know that they have moved a needle towards solving a problem, for a fellow Co-Contributor. The reward to receive anything in return is just a bonus, not a motivator. Contributing is the return! In 2003, I started my journey in the world of real estate and a couple of years later I was introduced to a mortgage broker. We started working on a few transactions together and as time went by our relationship evolved to a point that today she is one of my most valuable Co-Contributors. This mutually beneficial relationship continues to produce outstanding results for both of us to this date. Initially, when we met we had a very transactional mindset. Like any other two professionals working on a deal, we were both trying to protect our best interest. Naturally, we were both looking out for the best possible outcome for ourselves. This is very normal and expected in any professional environment. In fact, we are highly protective when we deal with a stranger in any relationship, for that matter. One day, when we were comparing our payout amounts, I realized that she did not get paid as much as she is supposed to. She deserved to be paid a bigger portion of our profits. I told her that you are getting a lot less than you deserve. She replied: "yes, I know, but we agreed and I am ok with it." I said no, this is not fair. She said: "I have thought many times to tell you, but this was according to what we agreed..." I told her: "of course agreements are not written on stone, we can change them anytime. In fact if they are not fair we should tear them." We made all adjustments accordingly, going back to the beginning of our relationship. She was happy and I was very happy. When things go where it belongs, the whole universe celebrates. This one generous gesture led to another and it kept on having a snowballing effect. The relationship evolved to much deeper trust and we both were trying to compete to be fair to each other. We made agreements, investments, and understandings, but when we were doing our numbers, we were both trying to be fair to one another. We were looking out for each other as much as we were looking for our own interest. We have been blessed and continue to receive the results of this relationship. This is the most profitable relationship that we know of. It has paid both of us very handsomely. In fact, we have received our return in multiple folds. This is the best that could have happened. This may sound naïve or this may sound a one-off type of a relationship. I can assure you that there are many relationships that are based on mutual respect, trust, and fairness. In fact, I know many of them personally. To be perfectly honest, the people who have enjoyed the results of this type of relationship knows that there is no better option out there. As Shakespeare says: "Corruption wins not more than honesty."
Giving above and beyond might not sound business savvy at the surface, but in reality it is the best possible option on the table. Short-sighted business people might gain quick wins, but generous relationships always come out handful at the end. The return on investing in trust is infinite. It keeps on giving back forever. The power of a trusted relationship is unbelievable. It can overcome any challenge. It is a glue that keeps the relationship sustainable. More importantly, when two people have a trusted relationship, they are literally one plus one equals eleven or perhaps more. No one can imagine, the amount of value we create by having a mutually trusted relationship. When we have a trusted relationship, we are highly productive. We concentrate on doing the actual work as the relationship is taken care of. Our resources, focus, and energy is spent on productivity instead of being distracted with handling the relationship. This in itself is a value creation that nothing can replace. It is a priceless contribution to our success. There is no doubt that as entrepreneurs we go through good, bad, and ugly in business. In our journey, through thick and thin, we need someone who we can share with. We need someone who we can lean on and get support from. We need someone who can guide us in our dark moments. Only a trusted person can do all this for us. We will not share, lean on, or seek guidance from someone who we do not trust. A relationship that is just for transactional purposes will never be relied on. The most confident of us needs someone to look at our work and give us a green light to go. We need feedback on our creativity. There are times that we need someone to brainstorm with us to help us in our decision making. We need someone to provoke us to solve an issue at hand. We do all of the above with someone who we have a deep relationship and deep relationships come from trusted relationships. Trust is the foundation of a Co-Contributor relationship. Mutual benefits arise from Co-Contributors trusting each other. Productivity levels are at its peak when relationships are solidified with mutual trust. Therefore, investing in trust is at the core of a CO-Contributor's mindset. A Co-Contributor doesn't look at a relationship as transactional. Relationships are built overtime by going above and beyond. Simple transactional mindset only looks out for immediate benefit. For a Co-Contributor the benefit is in the relationship itself. The result is in the journey, not necessarily getting the outcome. Mutually trusted Co-Contributors create mutual results for each other that are unimaginable. Trusted Co-Contributors are highly productive. Once they experience the world of mutually trusted relationships, they never go back. Nothing is comparable to trusted relationships. No amount of return could compare with the return on investing in building trust. In my early business days, I was involved with a group of young people. We were all trying to empower each other to have a better future. We wanted to bring a positive change in one another's life. In the process of helping others, we were changing ourselves. By trying to empower others, we were in fact contributing to our own life. Our engagement, with each other, helped to shift our mindset and impact the rest of our lives for good. In our circle, there was someone much younger than me who caught my attention. He was energetic, driven, and result-oriented. We got to know each other and we connected right away. He was dedicated, sincere, and focused on what we were working on. His attention to details and his dedication to the task on hand impressed me enough to find ways so that we can work together in ventures outside our social endeavors. Our relationship evolved to much deeper levels as we started working together. From the very beginning, he was taking ownership of the work right away. He would take the task seriously no matter how big or small. All he was aiming for was for the project to be successfully completed. He was not distracted. He was highly focused. He was going above and beyond. From the day I know him, this young person had a clear vision. He wanted to learn the ropes of business and build his future one step at a time. His roles and responsibilities has shifted ranging from admin to sales and everything in between. But his focus on what he wanted to achieve never shifted. Therefore, he always had a long term mindset in whatever he was involved in. To achieve what he wanted, he had to be open-minded. He did the job without the title. He was doing the actual work and leaving the credit for someone else. His character made him attractive like a magnet. As a result, opportunities kept on coming to him. Today, he is a successful entrepreneur working on much bigger projects. This is just the beginning and better things are waiting for him as he has a lot more to give to the world. Amongst my Co-Contributors, he is one of the most productive ones as he has so much knowledge, expertise, and experiences to share. There is so much that we mutually learn from each other whenever we get together. Now, after going what he went through, he can easily identity opportunities and have the capability to work on those opportunities. And the credit goes to him having a long term vision in mind. It took sometime but it happened. Patience is a virtue in business. We have a choice in business, we can go for short term gains or long term positioning. Opportunities arise when we position ourselves to be able to identify, seize and execute those opportunities. We establish our position by having a long term dedication and commitment. It doesn't happen overnight. It takes time. We have to work on ourselves to shift our mindset from short term shiny objects and distractions to long term vision and outcome.
We have to learn to believe that success takes time. We have to practice to be patient. Good things take time. Generally speaking, quick wins may not necessarily be good in the long run. It may satisfy us for that particular moment but we may face the consequences eventually. Instead of wasting our energy on fixing things for a short while, we can invest the same energy to work on positioning ourselves profoundly. All we have to do is to stay on the path and have a believe that good things take time and manage our expectations accordingly. We have to believe that instant outcomes are mostly quick fixes and that is why we will always be chasing. We can have a profound success as long as we choose to position ourselves for a long haul. Staying on a long term path is not easy as we naturally want immediate results. I would say it is very difficult, if not impossible, to do it alone. We need someone to support us, to empower us, to back us up. Someone who reminds us to believe in our vision and not to give up. The whole point of a Co-Contributor is to help us to stay on our path. We can easily get distracted by low-hanging shiny objects. It is these tricky moments that our Co-Contributor can come to our rescue as he is aware of our situation and our vision. We need a reminder and who else can be a better reminder than our Co-Contributor, someone who is looking out for our best interest. If we stay on our long term path eventually we will overcome our challenges, eventually things will start happening, and eventually we will get the results we are looking for. It is just a matter of time. We will overcome our objectives overtime. The main role of our Co-Contributor is to be there for us in this journey. They just remind us, support us, and empower us. We have to start, the process of positioning ourselves for long term, now. We have to decide to work on ourselves to plan for long term success. We have to start on shifting our mindset from quick wins to long term achievements. We can not wait. We can not delay this anymore. We can not look for excuses to just focus on short term and shiny gains. It has to start sometime and why not now? It has to start with someone, why not our Co-Contributor? In a ceremony Bonnie Crombie, Mayor of Mississauga, Deepak Anand, MPP, and prominent members of Canada’s Afghan community, Business Point broke ground on their new industrial condos.
The project, named 5250 Solar Drive, is 41-unit multi-use industrial condos based in Mississauga’s Airport Corporate Center. The project is expected to come live in the fall of 2020, when the city approves the building and new businesses move in. Crombie was proud that Business Point chose Mississauga as the location of their units. “My business as the Mayor is to bring Businesses to Mississauga.” Crombie said. She is also happy that an Afghan community is thriving in Mississauga. Anand lauded the industrial project’s outcome of supporting small and medium-sized businesses, who are being pushed out of the market by multi-national players. “Global e-commerce companies are buying up industrial units across the Greater Toronto Area and driving up prices.” James Hussaini, President at Business Point said. “We are building these units to support smaller companies who have nowhere else to base their business.” Industrial units in Toronto are following a trend seen across all major cities in North America. With the rise of ecommerce, demand for industrial units is rising too. Without new industrial units to meet this new demand, traditional businesses that required industrial space feel stressed. Home to the Canadian Headquarters of many global companies, including Bell, Kellogg’s, Acer, Hershey’s, Sketchers and many more, Airport Corporate Centre is a vibrant hub of corporate activities. Business Point recently released their plans to open a brand new business park. Located on Solar Drive, just south of the Toronto Pearson International Airport, the city of Mississauga has invested in the long-term future of Airport Corporate Centre by completing 2 Mississauga Bus Rapid Transit (BRT) hubs walking distance away to help provide convenient transportation and an ideal location for logistic companies. The city is continually making infrastructure improvements to keep up with business demand and provide businesses with the most modern and best services possible. “Mississauga is one of the fastest growing cities in the Greater Toronto Area,” said James Hussaini, president of Business Point. “And the proximity of this project to the Pearson International Airport and major highways makes it an ideal location for both investors and business owners alike.” He said there is a rapid growth of e-commerce in Canada and this had sparked an expansion in the country’s logistics and distribution sector. “At the same time, supply [of small industrial spaces] is constrained due to a scarcity of developable land.” The developer offers a total of 32 industrial units. “Most of our units are 1,800 sq. ft. and we have as big as 12,000 sq feet,” said James. After research, Business Point has concluded that most small businesses are looking for units around 2,000 sq. feet. “Small units are in high demand in today’s market,” he said. “This is the only 26 feet high ceiling industrial condo project in the area,” said the Vice President of Business Point, Ahmad Elahi. Availability of industrial space in GTA has hit an all time low at 2.1%. Sale prices and leasing rates have grown exponentially and with an average of double digit growth over the past few years. Despite the tight market for space and high rents, companies still choose to locate their distribution facilities in the GTA for fast access to the regions of high-income consumer population. “[The project] was launched on September 5th, at Hilton Suites in Markham,” said Neelo Ahmadi, asset manager of Business Point. “Over 70% of the units were sold on that day.” |
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