48 – Getting 200 people lining up to buy your property development (part 2)

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By Justin Gehde. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Finding a way to stand out in a crowded market place is essential if you want to achieve outstanding results on a regular basis. So, in part 2 of my conversation with Andy Hoyne, we cover how to grow your development business, create a company that stands out and nurture a crowd of loyal followers. Andy has been working in and around the property sector for the last 25 years. "Why shouldn't property developers be comfortable expecting a 30% profit margin?" Andy Hoyne I mentioned in the last episode that you would have a chance to win Andy's beautiful book the Place Economy that showcases great projects, developments and case studies from around the world, valued at $200. It is a gorgeous book, chock full of ideas and inspiration for any developer, and Andy will mention during the interview how you can get your hands on it for free, so keep your ears peeled for that! In part 1 of the interview with Andy Hoyne we covered the importance of having a point of difference, how you can mitigate risk through innovation, and the 'must do' marketing activities for developer’s on a budget, so if you missed that then go back to episode 47 and take a listen. I have some great conversations coming up with some really interesting people and I can't wait to bring them to you, including my next episode, which I think leads on perfectly from my discussion with Andy Hoyne, about how you can become a billionaire property developer. If that sounds interesting to you then tune in, as I think you will be inspired by what we cover, it certainly got me fired up. Anyway, that will be the next episode of the show, so keep your ears out for that one! I really enjoyed that chat with Andy and would love to continue the conversation with him one day soon. If you have any case studies that you want to send through to me to go in the running to win a copy of Andy's beautiful Place Economy book valued at $200 then send them to justin@propertydeveloperpodcast.com and I will send them on to Andy for his review and to select a winner. Lessons for real estate developers So, here are three lessons I took away from my chat with Andy: 1. Property developers will benefit if they keep growing I enjoyed how Andy said investing in your organisation or yourself is a great way to combat risk. By having effective processes, new services, and new ways of thinking you can actually help mitigate or eliminate risks. Continuing to grow, personally and commercially, will keep your mind fresh, your business growing, and help to maintain your drive and inspiration. As Andy mentioned, the source of all profit is risk, so if you can reduce your risk then you can potentially boost your margins. So what things are you doing in the next 12 months to grow your brain and stay inspired? 2. Property developers will benefit from hiring people who are great at their roles I regularly hear how great businesses are built by people who recognise that they need talented people around them. For some people this is a challenge because they want to be the smartest person in the room, or the one calling all the shots, but if you are prepared to surround yourself with bright, talented people who are best in class, and manage them well, you can really take your business to stratospheric levels. And don't forget Andy's tip to hire slow and fire quickly! 3. Real estate developers can build a business that people want to follow If you would love to build a business that has loyal followers then give some serious thought to your purpose and how you provide value. We will be covering more of this in the next episode about becoming a billionaire property developer. Here's a few questions that Andy threw up: How can you be different in a way that makes people want to associate with you or connect with you? How can you deliver something that is better than anyone else? How are you going to deal with people? How can you come up with ideas and projects that re...

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