Written in partnership with Ascend Agency
Out of the many industries that have been on a constant growth pedestal, a handful of them always go up and above others, proving how the right kind of strategies, business models, and plans can push forward growth for them in the said industry. The ones who go ahead in becoming winners in their respective sectors are often those who, as a team, work relentlessly towards achieving their visions and missions while sticking to their core values as a company. Eliott Pityn and his companies have done exactly that and gone beyond, rising to be one of the most trusted companies in the world of real estate in Canada.
This growing entrepreneur in the field, originally from Haiti and now from Canada, speaks about making it huge in the real estate space in 2022, giving a few key steps that aspiring entrepreneurs can focus on while creating a real estate business.
- Be clear on the goals: Before getting into a real estate business, entrepreneurs and investors must first be clear on the goals they wish to achieve in the industry. This helps them make specific efforts and build specific real estate strategies that help them walk their path towards their desired goals and ultimately achieve them.
- Build a business plan: After gaining insight into what they want to achieve, they must work towards building a business plan that can smoothen their process of getting ahead in the industry as a company and brand. A good business plan help entrepreneurs to focus on specific steps that can help them achieve both short-term and long-term objectives. Also, Eliott Pityn says that they must create concise business plans that are to the point to launch their real estate business.
- Calculate the expenses: Though the barrier to entry in real estate is low, as one doesn’t need higher degrees to be a part of the same, it is essential to know the expenses and startup costs. Some of the costs they may incur in the process include setting up a business firm like an LLC, obtaining business insurance, applying for a business license, selecting a software system, and opening a business checking account.
- Select a business structure: Entrepreneurs must choose a business structure like an LLC, or partnerships, corporations, sole proprietorships, or S corporations, as every business structure will have different tax and legal considerations.
Eliott Pityn, an investor and entrepreneur in the industry at 32 years of age, has built a 40 million dollar real estate empire all on his own by focusing on the above points and considering many other important factors. He now aims to be at 100 million by the age of 35.
Do follow him on Instagram @mr.pityn to know more.
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