"Just Do It" Nike's 10 Need To Know Winning Fundamentals
And how to apply them for CRE Entrepreneurial Success
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TL;DR: 1) Find the courage to start, 2) Never, ever give up and 3) Do more with less
All real estate entrepreneurs start somewhere.
If you are looking to start, you might say to yourself, commercial real estate is a capital intensive business, and I don’t have enough capital.
Here’s something no one will tell you, “You will never have enough capital to start.”
There I said it.
So how can you start and grow your business into something you can be proud of?
Be like Nike and “Just Do It!” It sounds simple and of course, it’s not…
Below is the Nike director of marketing Rob Strasser’s 1977 memo entitled, “Principles.”
This is an inspirational list for entrepreneurs of all types.
The most important fundamental on this list, though, is you have to have the courage to start. That’s number one.
This means you must recognize your “business is change.” Part of change is starting. So, first things first, get going.
As you proceed in your entrepreneurial journey, you will recognize that your business is a “battle” and that you have to “live off the land.” This is required of any entrepreneur just getting started or with limited means.
But ultimately, you’ve got to have that burning deep down in your gut that you are here to do something special—something you get to create.
Remember always to look to create value for others with whatever skills you have. This will buoy you when the times are tough.
If you lack marketable skills, offer to help someone for free, work a job and learn a skill, or start your own business.
Either way, you need to have skills to start and to be a valuable business partner.
What’s Your Fuel? For me it was getting laughed at…
A quick story, when I first “started” my development company in 2015 I told a friend who was in the tech start-up space.
He said, “I thought you had to already have money to do that?” And then he laughed...not in a mean way, but I took it to heart.
See, I love being the underdog. I need someone to laugh at me or to tell me they don’t believe I can do it because I love to prove people wrong.
Back to your start-up, you need to have something to prove to the world—some driving force that energizes you even when the chips are down and no one is looking.
Because that force will either help drive you to success or allow you to fail quietly.
Ask yourself, what motivates you? Is it money? Fame? Power? It is something, so get in touch with it so you understand yourself better.
Entrepreneurial Dangers To Be Aware Of
As you build your business, you’ll be faced with all types of challenges.
And many on Nike’s list under “Dangers” are real.
Bureacracy is what everyone is trying to escape working at a big company. Be careful not to schedule meetings just to talk about other meetings or to “connect” on something that could be done with an email or quick call.
Personal Ambition—Be aware that your Ego is the Enemy, just like in the Ryan Holiday book. Learn more about yourself s and use it to help you make better decisions and be a better business partner.
Beware of “energy takers” and “energy givers.” Especially when you’re just starting out, you need to surround yourself with dedicated, all-in people.
No hangers on or people who just want a paycheck. They won’t thrive in your entrepreneurial environment with a lack of defined job roles and meetings about meetings.
Be On Offense All The Time
Finally, as a business owner, and especially as an entrepreneur, if you’re not “on offense, all the time,” you are not doing your job. You have to relentlessly pursue new opportunities, new business partnerships, and new consulting jobs.
Anything to keep you from going back to work for someone else.
Be on offense all the time.
Cheers, John
This newsletter post was inspired by Anthony Vicino’s tweet below. Click the image to read the full Tweet on X.
Remember: In entrepreneurship as in sports, momentum is everything….I mean everything. If you lose it, you die.
What We Are Reading This Week
Ego Is The Enemy by Ryan Holiday - One of my favorite books.
The Law of Diminishing Intent Concept - The longer you wait, the less likely it is to happen.
Commercial Observer - Distress Up in Nearly Half of Top CRE CLO Issuers
Commercial Observer - DeSantis Beefs Up Live Local Act to Boost Construction of Multifamily
Well if you missed Game 7 of the Nuggets vs Wolves on Sunday night, you missed a heck of a game. And yes I am the guy who turned it off at half-time because it looked like the Nuggets were going to run away with the game. They were up 15 points at the half, at home, and in control of the game. The Wolves came roaring back from down 20 points in the 3rd quarter to win.
They are the first ever to come back in Game 7 down 15 points to win.
I should have stayed up to watch the end…
The Wolves now move on to face the Dallas Mavericks in the Western Conference Finals…What a series this will be! It’s so much fun to watch Luka and Co. I’m picking the Wolves to win this series though since they are so young, talented, and deep. The Mavs are an impressive team, but I don’t think they have to depth to beat the Wolves this year.
The Celtics closed out the Cavs 4-1 in their series and they are moving on to face the Indiana Pacers. I’m excited to watch these two teams battle it out. I’m hopeful the Celtics win, but the Pacers played the Knicks well in their series. Though the Knicks ended the series very depleted with injuries to all their star players.
Come on Porzingis the Celtics need you! Hopefully he comes back during the series, but it doesn’t sound hopeful. We will see. Who do you think is going to win?
What We Are Reading, From Half-Court!
ESPN - What the improbable Anthony Edwards means to this Minnesota Wolves season
ESPN - What will decide Celtics-Pacers in the Eastern Conference finals?
X.com - Who would Kevin Garnett root for if the Celtics play the Wolves in the Finals?
ESPN - Porzingis Expected Out for Start of Eastern Conference Finals
Sporting News - The Timberwolves are the first team in NBA history