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Personal Development for Entrepreneurs: How Self Improvement Can Grow Your Business

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Growing a business is a top priority for entrepreneurs. However, focusing solely on your company is not the most effective way to achieve business growth. I have discovered over the past decade that working on yourself and your personal development makes a difference in every aspect of your life. Without you, your business cannot function, and if you are not striving to meet your best potential self, your business has no chance of reaching its full potential.

Working on personal development to consistently improve who you are will make you more self-aware and teach you to do what works best for you. In turn, you will put yourself in situations where you are the most efficient and effective, which will give you more time and energy to focus on your brand.

This discovery has taught me to set goals that focus on personal development, not on numerical-based achievements that are not 100% in my control. Personal development for entrepreneurs is a process that takes time and effort, not only on the good days, but on the bad days, too. Therefore, I want to share five key things you must do in order to practice and up your personal development game.

5 steps to personal development for entrepreneurs

1. Have the right mindset

First, you must have the right mindset when approaching tasks or opportunities. You need to want to take risks and step outside of your comfort zone, even if there is a possibility of failure. Being in uncomfortable situations will help you learn things about yourself that you wouldn’t have known if you were in a comfortable environment.

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Here are a few ways to improve your mindset:

  • Meditate
  • Exercise
  • Eat a good breakfast to start your day
  • Be grateful for what you have; consider using a gratitude journal
  • Be aware of what information you allow in; i.e., be around positive people and positive information because if you surround yourself with positive energy, you will embody the positivity around you

Having the right mindset is the most important thing you can do to improve your personal development. If you open yourself up to be in a situation of growth, the growth will happen.

2. Expand your knowledge

Next, you need to expand your knowledge base and be perpetually curious. My best advice is to read books, ones about your industry and ones that are not. Learn from the experiences of leaders and trailblazers before you. Become inspired to be like the people you read about.

The more knowledge you have, the more power you have to elevate, grow, and generate ideas. If you are not curious, you become stagnant.

3. Locate blind spots and bottlenecks

Locating blind spots and bottlenecks is an important and difficult step in the personal development process. I like to say that there are things you know that you know, things you know that you don’t know, and things you don’t even know that you don’t know.

For example, maybe you’re more extroverted as a leader than you are in daily life. Maybe you have a knack for crisis management but didn’t find out until you were in a crisis situation. When practicing personal development, you start to become aware of aspects about yourself that you would have never expected to be true. Through this self-awareness, you can make adjustments and begin taking advantage of these skills and characteristics. You can use them to become a better leader, and ultimately, a better person.

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4. Overcome your fears

The hardest and most introspective part of personal development is overcoming your fears. We can’t move forward unless we acknowledge our fears. Being aware of what those fears are (whether it’s a fear of failure or not being respected as a leader), can help us move forward. Self-awareness is necessary in order for you to grow as a person—and to grow your business.

You can read about and learn from the struggles of successful people who have overcome their fears and try to follow their example.

5. Understand your “why”

Personal development for entrepreneurs is all about understanding who you truly are and being 100% self-aware in order to grow, not only as a person, but as a leader, too. What is that “why” that keeps you moving forward? What gives you the purpose and motivation to keep trying new things and reaching for success? Your “why” is the driving force behind the decisions that you make.

As business leaders, sometimes we get wrapped up in the day-to-day operations and forget to acknowledge why we started a company in the first place. Your “why” can be anything from wanting to take care of your parents, desiring a legacy to pass on to generations after you, or giving your kids the life experiences that you maybe didn’t have.

Personal development leads to business growth

Practicing these five steps—finding your “why”, overcoming your fears, locating your blind spots, being curious, and having a positive mindset—is essential to personal development for entrepreneurs. Working on yourself is the most effective way to achieve business growth.

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Via AB

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Tips for Aspiring Entrepreneurs Looking for Change After the Great Resignation

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According to the U.S. Bureau of Labor Statistics, last year an average of nearly 4 million workers quit their jobs each month. A multitude of reasons has contributed to what is being called the “Great Resignation” during the ongoing pandemic:

  • Employee burnout from working overtime
  • Fear of contracting Covid-19 and spreading it to family members
  • Lack of childcare resources amid school closures and online learning models
  • The realization that there’s more to life than the 9-to-5 grind

Indeed, the times we live and work in are challenging and riddled with uncertainty. However, they also present an opportunity to take control. If you’re an aspiring entrepreneur, you may find that now is an ideal time to explore paving your own career path—on your own terms. 

Been there!

When I graduated from law school, the “expected” next step was getting a law firm job. While many of my fellow graduates took that route, it just didn’t feel quite right to me. I couldn’t picture myself working for someone else and wanted something different, something more.

My husband, who is also my business partner, faced a similar situation. Out of law school, he tried to get a job but no firms wanted to hire him. It was deflating at the time, but later became a blessing. Through those experiences of rejection, he discovered his true calling. 

We put our brains together and launched our own company, which we later sold to Intuit in 2008 for $20 million. With a taste of entrepreneurial success and a love for business ownership, we launched CorpNet a year later. 

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While our circumstances may differ from what people are encountering with the pandemic and the Great Resignation, a parallel exists. Namely, people realize they do not have to be tied down to jobs that detract from their quality of life. They are learning they have the power within themselves to chart a different course and find fulfillment.  

Tips for aspiring entrepreneurs looking for something more

1.  Don’t sell yourself short

Just because you have never started a business before does not mean you don’t have the knowledge or qualities required. Tap into what you’ve done and learned in past job positions (sales acumen, customer service skills, technology proficiencies, project management mastery, etc.). Then assess gaps in your abilities and seek training, or find professional resources to fill the voids.

2. Don’t let naysayers get the best of you

You’ll find no shortage of critics to tell you why you won’t succeed. Take their commentary with a grain of salt.

Yes, you should listen to constructive input and feedback from unbiased confidants as you hone your business idea. No, you should not take to heart ill-intended sentiments from people who have no understanding of business ownership and what it takes to launch and grow a company successfully.

Sadly, some people may resent your aspirations because of their own insecurities. 

3. Have a plan

The process of starting a business involves many moving parts. While you don’t have to zero in on every fine detail from the get-go, it’s critical to identify the key areas you’ll need to address. 

One helpful resource for small business startups is SCORE, the national nonprofit organization which provides free mentoring to entrepreneurs at all stages of their entrepreneurial journey. Also, attorneys, accountants, and tax advisors can help you understand your current situation and provide guidance on the legal and financial aspects of launching a business. They can offer expert advice as you make many important decisions, such as:

  • Which business structure (e.g., sole proprietorship, partnership, limited liability, or corporation) should you choose?
  • Should you trademark your business name?
  • Does S Corporation election makes sense for your business?
  • Should you hire employees or outsource tasks to independent contractors?
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They also can help ensure you know what you need to do on an ongoing basis to keep your business compliant with all licensing, tax filings, and reporting required by the state, local, and federal government agencies. 

From resignation to entrepreneurship: Sometimes quitters do win

We’ve all heard the saying “Quitters never win.” However, quitting doesn’t always have negative outcomes. In fact, it can open the door to new, exciting opportunities—especially when it involves leaving a position in a toxic or unfulfilling workplace environment to start a successful business. Hopefully, these tips for aspiring entrepreneurs can help make this happen.

Don’t wait to build the life you want

Life is precious, short, and comes with the unexpected—good and not so good. Recently I slipped, fell, and hit the back of my head very hard on a concrete floor. I suffered a concussion and now have headaches that are making it difficult to focus.

This unanticipated experience has reminded me how quickly our lives can change. We should not take anything for granted nor settle for less than we want. 

  • Follow your passion and pursue your dreams.
  • Do work that makes you happy and gives you fulfillment.
  • Do not let fear of rejection or failure stop you; if you never try, you’ll never know your true potential.

Via AB

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Are Highly Successful Entrepreneurs Born or Made?

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Are successful entrepreneurs born or made? The “born vs made” debate is one that has been raging for ages, and there are a few schools of thought when it comes to this question.

The first is that some people are simply born with the skills and personality traits needed to be successful entrepreneurs. They have natural charisma, risk-taking ability, creativity, and more.

These “natural” entrepreneurs are able to dedicate the time and effort needed to be successful because they are driven by internal factors. They are passionate about their work and are motivated to achieve their goals.

The second school of thought is that anyone can become a successful entrepreneur if they put in the hard work and effort. This includes developing the necessary skills and traits but also learning from failures and making adjustments along the way.

This group believes that entrepreneurship is a journey of trial and error. By learning from their mistakes, they can grow into successful entrepreneurs over time.

So, what’s the truth? Is it all in your genes or are other factors at play here, too?

What Makes Entrepreneurs Successful?

The majority of us don’t deliver sonnets like Shakespeare or compose masterpieces like Bach out of the womb. It takes time, and it requires lots of work.

But some entrepreneurs are born with innate skills and engaging personalities. These people are like unicorns. They make the world a better and brighter place, but they also cause the rest of us to feel ridiculously insecure.

We look at the greats like Micheal Jordan, Indra Nooyi, and Warren Buffet and feel like it’s useless to even try to fill their shoes, never mind forge our own path. But what if I told you that success didn’t just fall into their laps?

They might have been given an edge, but that doesn’t mean that they didn’t have to be sharpened.

These greats simply understood that success took a formula—or, more specifically, a three-step process.

The 3-Step Process

Here are three steps that all successful entrepreneurs follow every day that make all the difference, regardless of whether they’re born with talent or just trying to make their business work with duct tape.

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Step #1: Start Small and Think Big

Successful entrepreneurs don’t try to take on the world from day one. They start with a small project or idea and build on that.

This is why, if you look closely at their schedule, you’ll notice that they work in segments. They don’t overwhelm their calendar or say yes to everything. Entrepreneurs that make it understand the power of the word “no.”

If you want to be successful, you need to embrace the small.

Even now, look through your task list and trim it down to size. Figure out what needs to happen now, what can wait, and who you can delegate to so you can reach your top goals.

If you want to write a book, then make writing the priority in your planner. If you want to run the New York City Marathon, then put down the remote, and build your stamina over time.

Starting small enables you to attain the big picture.

So, next time you get overwhelmed by your list, don’t post more motivational pictures in your office. Take a step back, cross off the distractions, and organize your week to get the most productivity and personal balance.

Step #2: Take Risks

One of the biggest things that set moguls apart is that they’re willing to jump without reading the fine print.

Now, they don’t make ignorant decisions. These leaders still research and take the time to consider the consequences. But when push comes to shove, they make the leap.

So, if you’re reading this and you don’t think this type of risk looks attractive, then you might want to reconsider being an entrepreneur. This type of lifestyle isn’t easy. But if you love the feeling of taking risks and experiencing a top-level adventure, then welcome to the club.

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You will make mistakes. Believe me. There’s no way to avoid failure when you become an entrepreneur. But remember, creativity and innovation can only be reached when you fail forward.

So, take a gamble and bet on your success. After all, if you want to get to your goals you need to bet on your company and yourself.

Step #3: Put Yourself First

This leads us to the next point: believing in yourself. No, this is not a motivational-type belief.

If you want to be a successful entrepreneur, you need to be your biggest fan, especially when you face the haters who try to distract you from your goals. No one can believe in you more than you can believe in yourself.

So, before you launch that new product and market your business, remind yourself who you are and why you are the best person to lead this organization.

Successful entrepreneurs start with themselves. They carve out time during their day to walk, eat healthily, meet with a life coach, and build themselves up.

If you take the time to focus on your mental health, spiritual health, and physical health, you’ll keep your footing as your move forward. You’ll drive your business to the next level without losing yourself in the process.

Case Study of Successful Entrepreneurs

Now, I know what you’re thinking. Is that really all there is to successful entrepreneurship?

What about Gates, Jobs, and Winfrey?

Obviously, they were the exception to the rule, right?

Well, let’s take a look and see how they gained such incredible success.

1. Steve Jobs

When you think of Jobs, you might think of blue jeans, black turtlenecks, and minimalistic design. But if you’re reading this on a Mac or iPhone, you know that his fame extends past his fashion choices.

Before becoming a household name, Jobs dropped out of college, tried to sell his shares of Pixar several times, and ventured to India to become a Zen Buddhist.

His life was diverse, and his business background was eclectic. But that didn’t stop him from venturing into the unknown and starting Apple. If anything, it spurred him on to take the leap and spark a technological revolution.

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He wasn’t afraid of the unfamiliar, and that gave him an edge over his competition.

He didn’t cling onto the sidelines. Jobs jumped and figured everything out on the way down.

2. Sara Blakely

Before she built her multi-million dollar Spanx empire from the ground up, Sara Blakely was a door-to-door fax machine salesman.

She didn’t graduate from a top business school, inherit family money, or even pass her LSAT.[4] If anything, Blakely ventured away from the familiar and carved out her own journey to success.

Right now, Goldman Sachs proposed a buyout of Spanx, and they’re offering over one billion dollars to acquire her successful business.[5]

Blakely didn’t have any formal training in marketing. She simply saw a need, created a solution, and developed the most prosperous shapewear company.

3. Melanie Perkins

Perkins, the Australian founder of Canva, started her business in 2013 and grew it into a multi-billion company. In just a few years, she became one of tech’s youngest female CEOs with an idea that started with a high school yearbook business.[6]

Canva grew from an idea to a powerful organization that employs over seven hundred individuals around the world.[7]

When Perkins first started this company, she never expected to rival Adobe and Microsoft. However, after only a few years, Canva has become a staple in the office of every graphic designer and amateur alike.

Melanie Perkins has not only made design attainable—she’s made it equitable.

So, are entrepreneurs born or made?

The answer is both.

Final Thoughts

It takes a combination of natural talent, dedication to learning and growth, and passion for what you do to be successful. And while there are no guarantees, if you put in the hard work and stay focused on your goals, anything is possible.

Go make your dreams a reality!

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Big Mistakes to Avoid in Your First Real Estate Development Project

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Real estate is a great way to build wealth, but it’s actually more than that: it’s also a way to shape the environment around us. Developers have broad-ranging objectives, from making big profits to helping the environment through sustainable design. Sometimes multiple interests converge—good design and profit are not mutually exclusive.

Although there is great opportunity in real estate development, it is important to keep in mind that real estate development is inherently risky. The rewards can be great, but the possibility of failure is very real and can be financially devastating. This guide will help you avoid costly errors so that your first real estate development deal is a successful one.

Your first real estate development project—common errors to avoid

There are certain areas of real estate development projects that we see repeatedly falling through the cracks, resulting in projects that are less profitable than they could be. As the property owner and developer, you are ultimately responsible for the success of a project, and at the very least you want to ensure you don’t overlook any details that will impact your bottom line.

Due diligence phase: common errors

The due diligence phase of a real estate development project should take place before you close on a property or move forward with a project. Here is a list of some of the things to watch for during this phase. (For a comprehensive list, see the due diligence checklist at Property Metrics here.)

Title: A clean title with no claims or other encumbrances is of great importance. Always check for accuracy and errors, and unknown or missing conditions such as liens or heirs. Easements and other encumbrances or any type of dispute are also important to watch for. Hire a reputable title company and review documents carefully.

Environmental: For large projects, an Environmental Impact Report (EIR) may be required. There are about 20 states that require some form of environmental review. For example, the California Environmental Quality Act (CEQA) requires large projects to perform an EIR; smaller projects may be exempt.

Even if an EIR is not required, larger projects and commercial property buyers often request a Phase I Environmental Assessment to ensure a property is cleared of environmental problems. Smaller residential projects rarely perform this assessment because it is unlikely these properties will have environmental contamination; however, it is always better to be safe than sorry. If you suspect there is some sort of environmental contamination (from a former gas station or dry cleaning facility for example), you should order a report. If there are any problem areas in the Phase I report, a Phase II assessment may be required.

Also note, if you order a report and anything is missed, as the owner of the property you will still be liable for it later. Therefore, be sure to hire a reputable company to do this work.

Survey: If you are building new or adding any footage, it is recommended that you obtain a survey. This will confirm the boundaries of the property and is much more accurate than other forms of identifying boundaries, such as measuring identifying features or relying on a tax assessor’s map. Relying on less accurate information can lead to problems down the road, such as accidentally building too close to a property line.

A survey will also tell you if any utilities are running through the property (you need to be aware of these during construction), if any other entity has rights over your property which might not allow you to build in particular areas, or if you are near a creek or other protected natural feature.

Finally a survey tells you the slope or “contours” of the site, so you can plan for proper drainage and appropriate foundation systems.

Zoning: If you are building new or adding any footage or volume, it is important to verify the zoning requirements. However, just because a zoning calculation says you can divide your property by a number to get the unit count or allowable FAR (floor area ratio), it does not necessarily mean you will have the spatial configuration to do so.

Planning requirements for parking, height limits, setbacks, and open space can impact the density of a project. Sometimes physical limitations define the density of a project more than the actual development standards. If you are not familiar with these requirements, hire a qualified professional to evaluate your site.

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Keep in mind that aesthetics are subjective, and any given planning department may have particular biases around architectural massing and style. It is important to understand these leanings before beginning design.

Also, keep in mind that entitlement is inherently risky—potentially the most risky part of the real estate development process. No design professional can guarantee an approval from a city agency. Because codes are often complex and open to the interpretation of city officials, projects can be denied on the basis of an interpretation.

In addition, it is important to keep in mind that the more elements you want to fit on a site (units, office space, parking, etc.), the more complex the design becomes. A bigger project may yield more profit, but there are risks. Making the design work can be challenging, if not impossible, and bigger projects draw more attention and scrutiny from city officials, neighbors, and others who may not want the project, and who will work hard to fight and stop you.

Neighbor issues: Political climate and neighborhood sentiment is always an indeterminate factor. Make sure you understand the risk of extreme resistance. Research a neighborhood before you close on land because you never know how vehemently opposed to your plan anti-growth neighbors can be, which can delay your project by months, or even years, and in some cases derail the project permanently.

Research can be conducted through online searches, newspaper and local magazine research, walking the neighborhood, and even talking to neighbors. A design professional or architect will often be familiar with the climate of a neighborhood, so a simple phone call can provide you with a wealth of information.

Building codes—fire, life safety, and accessibility: During the process of establishing a zoning envelope, the design needs to be cross-referenced with building code requirements. Be sure that any yield study that is being examined from a zoning perspective will also work when considering building code requirements, with particular regard to general building limitations, construction type, fire setbacks, egress requirements, and any ADA (Americans with Disabilities Act) issues. Also, be sure there is adequate fire truck access (where required) and the property meets requirements around fire hydrants.

Construction costs: Without a design, it is difficult to obtain accurate cost estimates, but you can research general opinions regarding cost per foot and information on the state of the construction market. Most design professionals and contractors can give you some sense of construction costs and where the market is headed. Any estimates should be updated throughout the process to ensure the project stays on budget and the pro forma stays in the black.

Real estate market research: It is important to understand how the project will financially perform once it is completed, so gathering information on how much profit you will earn when you sell or lease is paramount. Upon project completion, if you’ve spent more than you have received, you will lose money or possibly go bankrupt. Consulting with a local real estate agent or broker can help you determine how comparable projects have performed.

Pro forma: Based on your research, you will need to calculate and make some assumptions about how your project will perform. Total cost and net profit (or lack thereof) need to be clear to know if the project is worth pursuing.

Construction lending: Early in the process, make sure that your lender is in agreement with your project’s intent. A lender will likely be interested in the project’s cost and value, constructability, and marketability.

Cost and value is important because lenders will want to confirm those figures are in alignment to mitigate their risk. Constructability ensures no unusual or difficult construction issues will prevent the project from being built. Marketability is important for ensuring the project is not so unusual that it cannot be sold, rented, or refinanced.

In addition, the more developed the project is, and if you have permits in hand, the more comfortable the lender will feel giving you money. But if you don’t have your permits, don’t let this keep you from approaching a lender to confirm that at least your initial assumptions are acceptable to the institution. Find out at what point they would be comfortable funding the project.

ALSO READ:  Pakistan's small businesses hit hard by COVID-19

Some lenders are willing to fund soft costs, as well. Of course, any arrangements will be contingent on acceptable LTC (loan-to-cost) and LTV (loan-to-value) ratios.

Design phase: common errors

Design elements should be gone over as part of due diligence, but they come into play during the design process. Some of these will be defined by code and other limitations, but it is important to know what works in a particular market (minimums are usually not adequate). They can be based on experience, research, or personal preferences.

Typically the developer has thought through the vision or “highest and best use” for a site before or during the due diligence process, but a design professional can also help with site selection and determining the best possible use for a given site. When the developer does come with a given use, a design professional should verify all assumptions before beginning work.

The following are some of the design parameters that should be evaluated before beginning work:

Use: Almost always there is a use looking for a site or a site looking for a use. If you are in the former camp, you will need to keep an eye out for properties that are zoned and at a location which suits your intended use, whether it be residential, commercial, retail, or mixed use.

If you have found a site, you will need to know which types of use are allowed and determine whether they match your intended use. For example you may believe a site is best suited for housing because people are moving into the neighborhood. But if that use is not allowed on that site, then you have a problem.

Many municipalities will allow mixed use or a combination of uses for a site.

Construction: Decisions will need to be made around construction, and the sooner they are made, the faster and smoother the project will go. These decisions are contingent on construction costs, as well as other factors, such as project type and program, loan structure, and exit strategy. Changing a decision late in the process can be costly.

Project management: common errors

When executing a real estate development project, a certain amount of general project management is required. This may be performed by the developer or the owner, or will be picked up by the architect, the contractor, or some combination of the two. Items that fall into this category are listed in this section, while aspects that pertain to the management of the permit process are broken out in a separate section.

Consultants: Have an understanding of all the consultants who will be involved in your project. There will be typical consultants, such as architects, engineers, and surveyors, who are part of conventional project design as well as specialty consultants, such as waterproofing and sound engineers, expeditors, and environmental graphic designers, who only get involved with specific projects. Be sure that your architect and consultants carry their own insurance if you plan to carry their contracts. Architects may have umbrella policies that cover their consultants as well.

In addition to becoming familiar with consultants who are necessary for your project, it is also important to be aware of possible issues that could arise as a result of their work. An architect or a structural engineer may not necessarily have the most cost-effective design in mind. If the architect is simply trying to create the most beautiful project he/she has ever designed, and the engineer is simply trying to support the design, there may not be a coordinated effort to minimize cost. For example, a building that would commonly be built out of wood may require expensive steel or concrete shear or cantilevered elements, ultimately rendering the project infeasible.

Project delivery: Keep in mind that with conventional bidding, a contractor may be motivated to deliver a low upfront bid to win the contract and then issue change orders later once the contract is secure. These are typically more expensive than getting a bid upfront, because your job is already in progress and you have little leverage to negotiate at that point. If a contractor is chosen early in the process independent of bidding, they may help “value engineer” (suggest different, less expensive design options) to reduce costs and minimize change orders.

ALSO READ:  6 Six inspiring Entrepreneurs of Pakistan

Delivery method—how the contractor executes your project—and contract arrangement will also impact the quality of the project documents produced. There are a variety of delivery methods, with the most common being design-bid-builddesign-build, and construction management.  For instance, with a design-build contract, some of the design decisions will go to the contractor and not the design professional. This means the contractor will find inexpensive construction methods, but you lose some control over the quality of the construction.

Discuss delivery methods with your design professional to determine which method will work best for you.

Bid coordination: Under conventional design-bid-build, you will likely field multiple bids. Keep in mind that the low bidder is not necessarily the best contractor for the job. The lowest bid may be suspect—beware if it seems artificially low. Ultimately know the contractors who are bidding the job, and understand that quality and cost are often related. There is truth in the saying that you get what you pay for.

Utilities: Applications for utilities (gas, power, water, and sewer) often slip through the cracks. Make sure you are managing this area yourself, or that it is being actively handled by someone on the project.

Permit coordination: common errors

It is typically not the responsibility of the architect to handle certain aspects of the permitting process during a real estate development project. When reviewing a proposal from an architect, be sure to ask if the following is included or specifically excluded from their scope of work.

Coordination with city agencies: Bureaucracy can be slow. As the project owner you are carrying all of the risk; delays to the schedule will impact you greatly. Managing city agencies is an art, and requires the right relationships and the right amount of pressure.

An architect can leverage their relationships and tell you whom to speak to, but an architect’s voice will not be heard in the same way as an owner’s. Just like subconsultants and your contractor, in many ways the city also works for you. It is best if you are the one reminding city officials that the speed at which they complete their work and whether they approve or deny the project have a material impact on you and your livelihood.

Usually the architect will handle your zoning approvals and permit, and your building department approvals and permit. Other permits may be your responsibility or the responsibility of the contractor or other consultants. Be sure to review your contract for specific inclusion of all services if you expect them to be performed by the architect or others.

Application: There are a number of documents that will need to be prepared for your application submission—drawings, project specifications, and government forms—that need to be turned into the city for review. Your design team will prepare most of the materials for you. Ask your design professional which items you will be responsible for and what they will take care of. Be sure to obtain an exhaustive list of the required items from the agency you intend to submit. These requirements should be understood far in advance of the intended submittal date. Be sure that your consultants scope includes everything on the list you have obtained from the city agency.

Approval letter: Review your planning and zoning approval letter carefully. Check that the details are correct, and in particular, look for any unusual or erroneous conditions of approval. As these letters are often boilerplate text, errors can be carelessly included and be potentially demanding enough to have serious cost implications.

Finding success in your real estate development project

Using this information will hopefully help you have a more successful real estate development project. Please keep in mind that this is not meant to be a comprehensive or exhaustive list, but it is a guide to some of the commonly missed elements of a real estate development project. Good luck!

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