With a new year, we at Eidi Properties would like to take this opportunity to wish everyone a Happy New Year and use this moment to set and share our intentions. Setting an intention is a powerful part of success and we like to use significant moments, like a new year, to create intention and set goals. This helps clarify what we are working towards, what we expect and what we want to achieve. If nothing else, this allows us to keep our work on target and perhaps, it helps bring dormant forces into action to assist in our success.
One typical business intention is to grow. We are no different. We want to grow our business, our revenues and our impact on our community. Stating this clearly keeps us accountable and makes us feel like we understand our mission.
This is also an excellent time to take inventory and express gratitude. We are grateful for the success we have achieved and we are grateful for our community and those who support us. We enjoy showing our gratitude through good works, philanthropy and community engagement, but we feel it is necessary to say. We are grateful and thank everyone who has touched us and helped us in our various missions — and, we are especially grateful for our tenant’s success. This is, above all, essential to our success at Eidi Properties.
We also recommend to all potential business people: do your homework. This means understanding your industry, the various challenges and the potential issues that arise. By doing this, you can better prepare yourself for success. No one can ever perfectly prepare, but by doing your homework, you reduce the variables that can hurt your success and increase your possibilities. Read, seek advice, consult mentors and examine trends. All of these disciplines pave the road to good results.
Keep a level head. Business is naturally stressful. Some will overreact to setbacks or difficulties. Understand, these are part of being in business. Maintain your composure and keep moving. This requires that you stay detached emotionally. We can lose our way, our clarity and our goals when we become overly attached. Business is business, buildings are just buildings. Putting too much sentimental value into a place or an idea can blind you to oncoming opportunities. Stay open and ready. This can only happen if you stay even keeled.
Finally, realize that having debt isn’t purely a burden. If you create revenue that supports the debt, that is good debt. Especially, if over time, the debt is paid by the revenue, because then, the expense of the credit becomes revenue once it is paid off. Credit and debt are opportunities. Don’t abuse them, but revenue producing debt is good debt.
Here is a short video of Ramy Eidi, founder and CEO of Eidi Properties that helps explain these tips.