No matter what you look at in life, people are always saying how great it is to have STRATEGY.
In some situations, you might hear it so much that it can come across like one of those overly clichéd trigger words.
And unfortunately, for some people, it gets to the point where it doesn’t really mean anything. People tend to use fluffy words when it comes to strategy, and it doesn’t really get any point across other than the fact that someone might be good at talking (or writing) rubbish.
As property investors, that really frustrates us, because quality strategy really is SO important.
Why?
Well, at the end of the day – and the start – and every other moment throughout the day, it’s what drives effective decision making.
At Propell, we build strategic plans that are tailored for YOU. From understanding your finances, to your hobbies and goals, our Propell Property plans are created to ensure that you are confident and secure in your long term financial future as an investor.
But enough of those fluffy words – let’s chat about 3 reasons why strategy is so important for your investment journey in 2024 and beyond, on a real, tangible level.
- Strategy is all about YOU
Firstly, and probably most importantly, the key thing to know is that from your strategic endeavours, comes a genuine understanding of who you are and what you want.
The problem here is, often this doesn’t. Individuals and businesses often utilise ‘strategy’ to provide the same framework for each and every person that they work with.
And as much as some people might find some luck and achieve their goals, this idea of pigeonholing can be incredibly damaging.
It’s not about fitting you to a cookie cutter strategy, or railroading you into a situation where you’ll receive a property that is identical to the previous five clients. Instead, your strategy should be tailored to YOU!
As esteemed economist and scholar Michael E. Porter wrote, strategy is “about deliberately choosing to be different”. Whilst his claim comes from a business perspective, the same thing goes for your property investment strategy. By having a tailored, individual approach, it ensures that you are working towards results that work for YOU.
In understanding this, we pride ourselves on looking up, down, left and right for the best opportunity for you. Whether it’s CBD, regional or interstate, apartment, duplex, or house, our strategic plans are built on the fact each and every family’s lifestyle and goals beg for different opportunities.
How does this correlate to your life? Do you have goals or strategic plans in place that you just grabbed from someone else? If so, have a think about them, and make sure they really act in your best interest.
- Clarity and direction
There’s absolutely nothing better than hearing of a client’s happiness and clarity when it comes to their property investment journey.
Building and implementing a strategic plan provides that sense of direction that we all crave in life. In fact, when we don’t have clarity, it’s really what stops us from taking action – from taking that first step into something new.
It might be the very reason you haven’t yet stepped into property investment, or any other endeavour for that matter. It can just be too daunting, and make you think “Oh well, it’s too hard – I can’t be bothered”.
Having strategy in front of you is what builds confidence and helps you take that next step.
With a tailored property strategy, these concepts are spelled out for you – and by taking into consideration your unique circumstances, it ensures that you have direction and clarity towards achieving your financial and lifestyle goals.
- Provides measurable framework for your GOALS
Last but certainly not least, a strategic property plan provides a genuine, tangible framework for your goals, breaking your journey down into measurable targets.
Why is this important?
Because it ensures that your goals appear more achieveable and accessible.
You might want to build a portfolio of four investment properties within the next 10 years. At first glance, this may appear overwhelming and unattainable. But in reality, with a solid tailored strategy, this will become broken down into manageable chunks, looking at your budget, income and goals.
This might mean your plan looks at 2 properties at around $650K each within the first 6 years, then another two properties at $850K, in the 4 following years, once you have generated some equity and can leverage your growing income.
This measurability can be broken down further and further throughout your plan highlighting exactly how you and your team will work to tick every box and help achieve those goals.
At Propell, we’re all about helping people find financial freedom through effective and meaningful strategy. Not just a cookie cutter approach – real strategy that works for YOU.
Interested in learning more about how we can help you start (or grow) your property investment portfolio?
Get in touch, or give us a call on 1300 776 735, we’d love to hear from you!
