The Key Factors for Every Successful New Business

11.06.2013

Experienced in property sales? Love finding a new house and getting it listed? Want to start your own real estate business but not sure if you are ready?

Entreprenuer.com recently published an article asking would-be entrepreneurs about their interest to start their own business. We reflected on this list with our founder and CEO of Engel & Völkers, Christian Völkers and David Scheffler, Director of Expansion for Europe, Middle East and Africa.

First, the entrepreneur.com article said that organisation is the key factor for every successful new business. Sean Ogle, who runs a virtual search engine optimization and web consultancy, recommended “developing a schedule to follow, just as you did in your 9-to-5 job” to all would-be entrepreneurs. We fully agree, and Christian Völkers says it is the DNA of a company to be organised: “The systematic organisation of the business in every detail and in all its operational stages is the key factor to success in entrepreneurialism”.

Völkers continues: “We worked on fine-tuning this organisation for years – from the composition of our property descriptions through to the design of forms. The results are summarised in our operational guide, which deals with every step in the agency’s business; it consists of a file with hundreds of pages, which were still typewritten in the original version. It contains the company’s DNA and is constantly revised and updated”.

Having identified our strengths and weaknesses using SWOT analyses is something we greatly benefit from while being in a network of luxury property experts. Last week’s article about the increasing franchise systems in the Spanish market (http://goo.gl/o0IWj) leads us to believe that the complimentary skill set of a franchise system is a good one to rely on. It makes it easier to start a business, when you have the passion, and need some help filling in certain skills.
The 23 percent increase in property market related franchises in the Spanish market is clearly evident at Engel & Völkers. We were happy to see Spanish newspaper El Mundo mention our latest shop openings in Madrid last month.

New license partners will roll out fresh red carpet in future shops in Aravaca, Parque de Conde de Orgaz, Puerta de Hierro and in Pozuelo de Alarcón, Torrelodones, El Escorial and Las Rozas soon – heralding a new time for luxury residential and commercial property sales in Madrid.

David Scheffler, Director of Expansion for EMEA at Engel & Völkers, commented on the trend: “We are proud to be part of the strong local franchise community in Spain, and are happy to celebrate the great successes of our franchise partners here. Our proven system for attracting and selling up-market properties has been the foundation of our business in Germany and Europe. With the downturn in Spain over the last couple of years, it is good to see that the system is also helpful to local business owners who want to continue expanding and developing their love for property. Our business has been so successful here, we are happy to say we are looking for new license partners for Malaga, Granada, Cordoba, Seville, Segovia, Burgos, Avila, Toledo, Santander, La Coruña, San Sebastian, Oviedo, Gijón, Vitoria and Saragossa”, he said.

Völkers backed up the point: “We will continue to grow. Our company has now been in existence for more than 35 years and is successful because of the strength of its brand and the system of services it provides. We were the first German company to develop a service business on a franchising basis, which now operates successfully in 37 countries. We are currently concentrating on the countries and regions in which we are especially strong, like Spain,” he emphasized.

From entrepreneur.com to us here at Engel & Völkers, we all believe a great support and a proven organisation system are the key to success in new business. And therefore, a reason why you should contact us about our license partner program.

Do you have a good starting your business story? Please share with us, and we would love to discuss and highlight your achievement.

Contact us for license options in Spain: Ignacio.Fiter@engelvoelkers.com
Contact us for license options in any of our other countries: Ramon.Lahme@engelvoelkers.com

Contact us with your property success story and we will look to set up an interview for our article series: socialmedia@engelvoelkers.com

Or you can post us a note on Facebook if you like: www.facebook.com/engelandvoelkers


Back up Information:

Entrepreneur.com: http://www.entrepreneur.com/article/226035

Posted in Uncategorized.


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