Luxury home market is a niche for business, if you find the right implementation for the idea. Luxury in itself is a niche, whatever one refers to this concept. It's just that most people don't understand what it really is, and there is a substitution of the concept. This article briefly describes what the real ways are in order to occupy this niche. The narrower the niche for a business, the less competition there is. And if the niche is narrowed down to a framework of exclusivity and uniqueness, there are unlimited opportunities there. You don't have to look to others, you have to find your own way. Read just some guidelines to understand that way better.
More investors than ideas. Out-of-the-box solutions.
There are many more investors in the world than there are worthwhile good projects for them. The world is simply overflowing with dysfunctional ideas, intermediaries offering assistance in finding investors for start-up and investment projects of various levels. This kaleidoscope can be viewed endlessly, but how to separate the spit from the grain? How to separate the sea of unnecessary information? The first principle: unique ideas with no match.
Jackie Ma’s brilliant principle
One of my famous clients, Jackie Ma (Alibaba Group), gave me a lot of valuable advice. The most remarkable of them was one I still remember and follow.
The advice was directly related to running a business – how to find your niche and distinguish yourself from the others, and how to get to somewhere before the others.
However, his point was even more ambitious, “We are there today where you have no chance to ever be”.
Here’s his first piece of advice: “When they bring me one of their investment projects to consider, before I make a decision, I always ask my assistants for advice on what they think of it. If their comments are positive, and everybody finds it perfect unanimously, I always throw it away as trash, without regret.
If such projects are clear to everyone, it means that there is no uniqueness and we would have
to face competition. There is no point wasting time.
But, if the project is such that nobody understands it, but I still feel that there is inherently something
I keep it for further investigation. That's where the uniqueness may be hidden.
I like these kinds of projects, which only the initiated understand at this stage.”
Ideas make money
The second piece of awesome advice: “If you want to implement a business project, but you have absolutely no money for it, do business without money.” What does that mean?
It means that one should do business with brilliant ideas that you can bring to fruition when you are given the money. Everything starts with an idea. Ingenious ideas are the privilege of the selected, talented people, those who are able to create and think.
Bernard Shaw said, “Only 2 percent of people think, another 3 per cent think that they think, and the remaining 95 per cent are afraid of thinking, even in the pain of death.”
Reading these lines, you realize the category you want to belong to. I stay in that 5 per cent, at least convinced that I think.
After a long journey around the world, working in different countries within the luxury industry related to real estate and interior design, I finally found myself in Marbella, a stunning resort, a town in southern Spain. Here I found my niche for the business.
One of the techniques Jackie taught me was to first find the niches in the luxury segment. These niches always stand apart and such a place is usually not occupied or has little competition.
But entering the world of luxury is a very difficult task. You need to have a lot of experience, knowledge, and intuition.
It is necessary to know the elite, those for whom this state of possession of exclusivity is the dominant factor. Luxury should be personal. But that is not enough. It is necessary to find the exact unoccupied niche, and this task is the privilege of the talented. Fate gives us many choices. But anyway, we need to step forward and make a decision.
Otherwise, it is like only being able to see the sunrise if you make the effort to get up early. The one who sleeps will have nothing but dreams. Returning to the point of the article, the challenge was not to do your job better than the others, but to do it differently.
Art brings value to property