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Failure to Launch

​​Buying a new property is just like embarking on a new business venture or mastering a new sport. It can be hard work but if you follow just a few simple steps up front, you’re on the fast-track to success:

Planning StepsPropertyBusinessRugby Union
What's the goal?Build a growing and healthy portfolio.

Increase market share, revenue and brand value.

 

Score more points, win more games.
What's the plan?
  • Yield?
  • Capital growth requirement?
  • Most suitable asset class?
  • Demand?
  • Market?
  • Cost/benefit?
  • ROI?
  • SWOT
  • Patience or explosive?
  • Wide or tight?
  • Chip and chase or Pick and drive?

 

Prove it! (model and practice)Will my plan satisfy my goals?Will my plan satisfy my goals?Will my plan satisfy my goals?
Test it practically!Search for the correct property and prepare analysis.Soft launch and test the market.Trial in preliminary games.
Commit!Close the deal.Full launch, invest and drive.

Execute to plan on game day.

 


But…what is more important? - The planning or the execution?
I think the answer is more obvious than we all might think; execution is everything! You can do all the planning in the world, but failing to execute will make all the hard work, time and effort redundant. Now this is not to say planning isn’t important, we know it is; however there needs to be a good balance between the two; to prevent paralysis by analysis.


Think about this; in Rugby - the winger takes a catch on the sideline and has a clear run to the try line but freezes, because of what “might” happen? We live in a world of uncertainty and there is no such thing as a “sure thing” or a “perfect play”; but it is the way in which we understand and mitigate those variables that truly counts. The same rule applies in property investment.
When deciding to commit, you need to ask yourself two questions (emotions aside):

  • Have I followed my plan? – CHECK!
  • Does the actual asset satisfy my goal? – CHECK!

If you answered yes to the above questions then the next step it clear – it’s time to COMMIT!


Failure to launch is an epidemic in a moving market and it will see you lose out. If you suffer from failure to launch, perhaps it is because you are uncomfortable and feel you don’t have all the information?


If any of the above applies to you, we would love the opportunity to speak to you and help you make the smartest decision when it comes to property – remember it’s all about the LAUNCH!


JLL's Buyers Advocacy Division

1300 795 960  

buyersadvocacy@ap.jll.com 

jll.com.au/buyersadvocacy 

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