It’s that time of year where here on Property Entrepreneur we have started to enter the Winter phase of our programme and I’ve been reflecting on the achievements of the PPN UK group of businesses over the past 10 years. I recalled this article I wrote for ‘Your Property Network’ back in 2018 and have reposted here for those of you who may be wondering what the secret is to growing your own successful business.
“Having won Young Entrepreneur of the year in 2013 it was an honour and privilege to be nominated and then invited back last month, five years later, to compete against the heavyweights in the 2018 Entrepreneur of the Year.
The level of competition was phenomenal. We (ie, the PPN UK group of businesses) were very proud and fortunate to be recognised among them. Taking home the award on 23rd February was another game changer for us as it acknowledges all the hard work our teams deliver year in year out.
Post-awards and amongst the congratulations, a lot of questions came my way as aspiring property entrepreneurs attempted to decipher the ‘silver bullet’ and ‘secret sauce’ that separates those that get out of the blocks and go the distance from those who have the best intentions but fail to pull the trigger.
The truth is, success and failure are both very predictable. So getting where you want to be with business and property is far more predictable than you think.
Within this article, in answer to some of the questions I’ve been asked, I’ll use elements of the Property Entrepreneur methodology to identify what enabled PPN UK to go from a concept and start up in 2012 to a national, multi-million pound leading UK property group five years later.
The “Property Entrepreneur’s Journey”
Whether you are approaching business and property for the first time or established in the industry and ready to take your business to the next level, the “Property Entrepreneur’s Journey” is a predictable experience. It consists of three levels, four seasons and five challenges. This blueprint and methodology is available free of charge from Property-Entrepreneur.co.uk, but right now I want to share how PPN UK has implemented it over the past five years to become the award winning group that we operate today.
The secret to success is a never-ending story
As property entrepreneurs, you will require drive, discipline, dedication, persistence, unwavering belief and a high pain threshold as you ride the ongoing rollercoaster of business. It is not for the fainthearted.
That said, there are only five core elements that need to be applied to take your property business from idea and graft into established business with reward. I have used the methodology myself to build 15 companies in 15 years, and seen hundreds of other aspiring property entrepreneurs use it too.
The five core elements
These elements enabled us to start PPN UK then scale it to double in size every year for five years to become the award-winning property group it is today. Master each of these in turn, and they will form the foundation from which your venture will thrive.
- Strategy: key considerations here are the distribution of your focus, your positioning in the market, commercial balance, revenue streams and target margins
- Systems: you 100% need systems to move things forward in your business. A word of advice though (namely from my own mistakes!) … don’t try to recreate the wheel
- Finance: find a solid cash flow model with strong margins and use this as the foundation from which to build up your business
- Recruitment: recruit talent, train them well, provide enough runway for them to progress and a culture to thrive in
- Sales and Marketing: are you shouting your message from the rooftops … or watching from the social shadows?
The above insight into the “Property Entrepreneur’s Journey”, whilst high level, follows a very structured model that you can easily replicate in your property businesses. The methodology has been used by market leaders around the UK and is far more straightforward than you may think.
Success and failure are both very predictable!”
Click here to read the full YPN article
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