Lesson 4 of 7
In Progress

Matching Capabilities And Resources In Deals

1. Matching Capabilities and Resources with Deals

  •    Assess your current capabilities and resources.
  •    Understand how to match these with the appropriate deal types and roles.

2. Managing People

  •    Recognise if you are good at managing people and how it influences your role in a deal.
  •    Consider alternatives if managing people is not your strength, such as bringing in a project manager or partnering with someone who has that capability.

3. Negotiation Skills

  •    Evaluate your negotiation skills and their importance in commercial property deals.
  •    Practise and improve negotiation skills, or consider hiring someone to negotiate on your behalf if necessary.

4. Numerical Skills

  •    Identify if you are good with numbers and how this strength can benefit commercial property deals.
  •    Understand that being good with numbers helps in quickly determining if a deal stacks up and managing feasibility studies.

5. Organisational Skills

  •    Leverage strong organisational skills for projects that require planning and managing timelines.
  •    Recognize the importance of organisation in roles involving construction, development, and planning processes.

6. Strategic and Solution-Based Thinking

  •    Differentiate between planning and strategy, and understand the value of being solution-based.
  •    Apply strategic thinking to find solutions, fill vacancies, and manage tenants effectively.

7. Hands-On Skills

  •    Utilise hands-on skills in projects that require physical work, renovations, or compliance rectifications.
  •    Be aware of the potential to overcapitalise and ensure efficient use of hands-on skills.

8. Time Management

  •    Assess how much time you can allocate to managing projects and people.
  •    Align your roles and responsibilities with the available time to avoid overcommitting.

9. Resource Allocation

  •    Evaluate your cash and equity position and learn to leverage other people’s money for projects.
  •    Consider education around no money down deals and how to start with minimal cash and equity.

10. Building a Team

  •     Identify potential partners or team members within your network who can bring complementary skills to the table.
  •     Ensure clear roles and rewards for everyone involved to avoid conflicts and maximise project success.

11. Networking and Leveraging Relationships

  •     Look within your circle and extended network for people with valuable skills.
  •     Be open to forming partnerships with people outside your immediate group of friends or family.

12. Leveraging Value and Skills

  •     Focus on leveraging your strengths and capabilities in the right projects and roles.
  •     Outsource tasks that do not align with your strengths to build a well-rounded and effective team.