By Ron & Alexandra Seigel, Partners--Napa Consultants, International
Are You a Lemonade Tycoon?
Attention luxury real estate marketing professionals: Are you a Lemonade Tycoon or are you feeling sour about the economy?
The headlines roar exclaiming that the economy is in dire straits. The Christmas Grinch is on his way. Blah, blah, blah, blah, blah!Every economic prognosticator has his or her opinions based on fact and statistics. It doesn't matter which side of the argument they are on, they are right.
CNBC reported that retail sales over the holidays would be bleak and many stores would close because they would not be able to get the credit necessary to purchase holiday inventory.A Wall Street Journal online headline read, "Kohl's makes a Grab for Market Share as Holiday Season Nears; Retailer Opens 46 More Stores" Clearly, here are two opposing viewpoints discussing the same thing.Some retailers will evaporate, while others will expand, such as Kohl's, who sees an opportunity to expand.
Those who own the commercial real estate that Kohl's occupies will also prosper. They may become luxury home buyers or sellers who want to upgrade.The luxury retailers are expanding in other parts of the world as well as domestically where opportunities abound.For instance, Houston has a new luxury mall that is thriving. The ones who survive focus on the lemonade side of the equation rather than the lemon side. They are the Lemonade Tycoons.
There are many industries that are doing well.One of them is the private jet industry with waiting lists of three years or more.The vendors who supply that industry are also thriving.Hermes has a three to five year waiting lists for its $15,000 handbags.
Every economy has its opportunities and its people who prosper. While you are reacting, grumbling, complaining and blaming someone for this mess you are blind to opportunities, and you are a bear to be around. A better use of your time would be finding out where the fish are biting in your market place.It is a wonderful time to secure and expand your market share and include the new fish.
Now is the time to:
- Meet new people
- Become more visible
- Explore new worlds
- Look beyond the headlines and find out who is prospering
- Think of all the fun you will have drinking lemonade!
Are you going to be a Lemonade Tycoon?