It is exciting to scale up—to build a viable business from scratch, making something out of nothing.
It is also a time of great uncertainty. For most entrepreneurs, both in and out of real estate, it is the period we remember best for the rest of our lives. It’s a time of taking chances, forging new relationships, and testing ourselves. It is nerve-wracking and exhilarating. The path is rarely one laid out in advance. Our decisions tend to be incremental, based on the opportunities that are presented to us. With little to lose, we bet the store.
One way to think about the scaling-up challenge is to consider the following five questions, which pertain to most real estate players: