4 Things That Make a Successful Entrepreneur
4 Things That Make A Successful Entrepreneur – Do you want to be a successful entrepreneur? I am someone who has almost never had a traditional job. Correction: when I was in law school, I worked for HUD in NYC doing real estate closings. But really that job led to me buying and selling HUD foreclosures which effectively ended my stint as W-2 worker. My parents were supportive of higher education but simply did not have the means to help me get there.
After college they wanted me to get a job. But I had dreams and plans and law school seemed like a way to get me there. So, I applied to school and went job hunting. When I landed a job at HUD it felt right. Something about real estate closings seemed like a good fit for me. But after weeks of reviewing title reports and closing documents I felt like I couldn’t see straight any longer. What I seemed to like best about my job was actually sitting in on the closing, meeting buyers and learning about what they planned to do with their properties (ie becoming a successful entrepreneur). For some reason, I thought “I can do this.”
Successful entrepreneurs are those who create new businesses while facing risks and enjoying the rewards of their creations. Jeff Bezos, Bill Gates, Mark Zuckerberg, and Steve Jobs are household names of those whose claims to fame began with humble beginnings as hopeful entrepreneurs. Their creativity and drive led them to success despite their failures and uncertainties. There are plenty of successful entrepreneurs in the world of real estate as well: Real estate entrepreneurs by (manage, sell etc.) properties to build their wealth. [1] There is no magic formula that one can follow to become a successful real estate entrepreneur, rather, it is a combination of several factors and attitudes that help set us up for greatness.
1. Successful Entrepreneur: Communication is key!
Communication is important in just about every part of life regardless of what one does for a living. (Real Estate) Entrepreneurship is no exception: Entrepreneurs need to be good communicators. This includes not only face-to-face communications, but written and digital as well. They must be able to clearly communicate ideas and goals to investors, employees, and current and potential stakeholders and customers. Clear communication helps avoid misunderstandings and conflict and helps benefit businesses in many ways. It builds positive relationships with employees, strengthens the bond with clients and stakeholders, fortifies decision making, promotes innovation and creativity, and improves the overall development of the business.[2]
Entrepreneur Zvi Band is an example of a leader who recognized the importance of communication and wanted to make changes in how people connect with each other. He was not impressed with the Customer Relationship Management systems that businesses had been using to manage real life and virtual connections. As the result of his frustration he created Contractually a tool that connects to preexisting accounts and calendars in platforms such as Outlook and Gmail to identify new leads through targeted questions.[3]
2. Successful Entrepreneur: Creativity!
Creativity is crucial to the entrepreneur. Companies that do the best come from big ideas that are not mainstream: Entrepreneurs must come up with original ideas that set their company and/or product apart from those already out there. Sometimes that involves really “thinking outside of the box.” One famous entrepreneur who owed his success to his creative and imaginative mind was Walt Disney. While we know him to be a filmmaker and creator of many theme parks, he spent his younger years painting pictures and selling them to friends and neighbors.[4] He eventually began developing characters and storylines and diving into the animation business by releasing several cartoon series. His vision began with small efforts that eventually led to his name being one that everyone in the world is familiar with.
Another entrepreneur who is well-known in the media thanks to her creativity is Christina Anstead. She is a real estate investor who gained prominence when she began flipping homes and eventually landed a role on the HGTV series “Flip or Flop.” She later started her own spinoff show called “Christina on the Coast,” which further showcased her house-flipping skills. House flipping involves creativity and critical thinking, as the purpose of flipping is to purchase and resell at a higher price to generate profit. The process often involves refurbishments and unique or useful additions to bring up the value of the property.
3. Successful Entrepreneur: Perseverance!
Successful entrepreneurs are those that prepare for failures and allow these downfalls to propel them forward. It is estimated that nearly 75% of new startups fail.[5] The possibility of failure should not prevent the hopeful entrepreneur from getting started: Even the most successful leaders encountered failure during their careers. It doesn’t matter where one comes from; everyone is capable of greatness shall they fight against the odds.
Real estate mogul Dottie Herman is an example of an individual who didn’t let her difficult situations defeat her. Herman lost her mother when she was just 10 years old and struggled with helping raise her siblings while also working hard on “making something of herself.” [6] She started to work in a real estate brokerage while still in school and eventually purchased Prudential Long Island Realty. Herman not only made the business thrive but also purchased the biggest real estate brokerage in Manhattan. Currently the company, Douglas Elliman Real Estate, is the fourth biggest business of its type in the country.
4. Successful Entrepreneur: Passion!
Passion drives entrepreneurs to follow their dreams despite the odds. You must love what you do, or at least have a genuine reason for wanting to do it. To become passionate about your work, focus on the meaning behind your work and why you started to begin with. Ascendo was started out of my passion for wanting to help busy women like myself invest wisely to achieve financial freedom, thus allowing us to free up more time to do the things we love. As a mom, entrepreneur and attorney, I know first-hand that many women are busy in their daily lives and forget that their money can grow and multiply if invested properly.
I love having the opportunity as a real estate owner and sponsor to help women invest wisely. This gives them the chance to free up their time to work less so that they can enjoy the things they love to do, which may very well be following their entrepreneurship dreams. In today’s market, investing in hard assets like real estate can increase your returns in a meaningful way. I am also passionate about making the investment experience enjoyable and personal: We will work hand in hand to understand your goals. Time will free up as your portfolio grows, giving you the chance to spend your time following your unique passions. Invest with Ascendo today!
About Atara Twersky
Atara Twersky is a real estate owner, sponsor and syndicator. She is principal and founder at Ascendo Capital LLC. Atara is also an attorney in NYC and the bestselling author of the children’s book series, Curlee Girlee, inspired by her own young curly haired daughter and written for all curly girls in an effort to ensure they love themselves and their hair exactly as they are. Atara is the host of a popular investment podcast, Bridging the Gap: Real Estate for Women. As a mother of 3 school age children, Atara Twersky knows how children can be impacted by their surroundings: how the place they call home will directly affect their ability to do homework, to interact with their friends and siblings, and ultimately have the ability to empower them to grow into happy and healthy young adults.
Buy, Rehab, Refinance, Repeat
Positive community and apartment living is one of the key components to a well-adjusted child, and it has become Atara’s mission as a multi-family owner to help build communities that will allow its members, young and old alike, to thrive and grow and be happy. In addition, Atara has been a securities class action attorney for over 15 years, but what many of her clients do not know know is that she was able put herself through law school buying and selling HUD properties in the New York area by using the BRRR (Buy, Rehab, Refinance, Repeat) method before it had a name. Before she knew it, she was buying and flipping homes totally based on her instincts and a quick back of the napkin numbers check.
Today, Atara’s mission is to create communities where residents feel at home, whether they are there for a short time or plan to stay for many years, because the place where one chooses to hang his or her hat and kick up their feet has to feel just right. Investing alongside Atara will be an experience in full transparency and disclosure. As an investor in her properties, you will make returns on your investment money and be privy to the process. Invest with Atara Twersky and you will help build community all while increasing your wealth!
[1] https://www.investopedia.com/terms/e/entrepreneur.asp
[2] https://www.entrepreneur.com/article/336347
[3] https://www.inc.com/michael-schein/5-entrepreneurs-that-will-change-the-way-you-communicate.html
[4] https://www.cleverism.com/8-creative-entrepreneurs-history/
[5] https://www.fastcompany.com/3003827/why-most-venture-backed-companies-fail