Chapter 3. The Importance of the First Store
EVERY ONCE IN A WHILE I meet someone who tells me that he is a real estate developer. “Really?” I ask, “Who are you with?” Usually the person says that he is with Trammell Crow, Opus, or another large development firm. I ask, “Have you ever put up your own personal money for a real estate project? Have you ever had to 'go hard' on a deposit for land and write a nonrefundable check with your own funds?” Almost always the answer is no. I tell them, “If you haven't, you are not a real estate developer—you work for a real estate developer.” I see something similar with businesspeople in corporations. They say they have a great retail idea and want to go out on their own, but they are making boatloads of ...
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