Real Estate Entrepreneurship: Attributes, Challenges, and Equality

In my opinion the business sector opens up many doors of opportunities for the people who are ready to take the risk. I believe the riskier an expedition is the more fruitful it will prove to be .nothing is beyond their reach for an ambitious businessman and this is the fact that inspires me to pursue my future as a businessman. when I say business I have my eyes set upon a particular type of business, which is real estate. Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.

Also the business of real estate is the profession of buying, selling, or renting land, buildings, or housing. I have chosen real estate business cause of a simple analogy. For a real talented businessman everything around him is an opportunity.

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He can take up anything and work with it like setting up a grocery store, or selling clothes, shoes, etc, but the product which we. Pick to sell is the most important component in a business. So if you look at all the commodity as a businessman one could see that land is the best out of all options, because the value of a strip of land is ever rising. I wish to be doing business in India and the real estate market there is like a sea of opportunities.

India's real estate sector is projected to reach $180 billion by 2020 from $126 billion in 2015, according to a joint report by CREDAI and JLL.

Investment inflows in the housing sector since 2014 have been Rs 590 billion, about 47 per cent of the total invested money in real estate, it said. The report also said that the contribution of the residential segment to the GDP would almost double to 11 per cent by 2020. Released on Wednesday at CREDAI Conclave 2018, the report traces 7 trends that will change the way real estate business will happen in the future in India. JLL also projected that the housing sector's contribution to the Indian GDP is expected to almost double to more than 11 per cent by 2020 up from estimated 5-6 per cent. On a global front, the global real estate market is expected to generate a revenue of USD 4,263.7 billion by 2025, according to a new report by Grand View Research, Inc. Factors such as the increasing demand for housing real estate space, rapid urbanization through migration in search for better amenities. Rapid economic development in the developing regions and countries like India, China, and many African countries has enhanced income levels and helped in the real estate market.

From being an undergraduate to becoming a successful businessman is a long and a step by step process. So a person needs to develop different attributes during the different stages of his/her career .in the beginning stages where the person is an entry level graduate he would need the passionate, motivated, optimistic· .I have explained some of these attributes which I think is required at this stage.

• Passionate - Entrepreneurs and businessmen aren't in it for the money. While that may be an added bonus, the true benefit is doing what they love. Building a business takes a lot of time and effort. It means putting in longer hours and doing extra work.they aren't afraid of hard work because they are so focused on their dream and their vision.
• Persistence-They don't give up when a challenge arises. They stick with their passion and see it through. As Steve Jobs once said, according to the Smithsonian Institution, "I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance."
• Motivation-Entrepreneurs are dedicated to their work. They aren't reliant on a manager or colleague to push them toward their goals or to get their work done. Their drive comes from within and allows them to motivate others in turn.
• Optimism-When you're just starting out, it can seem like getting your business off the ground will never happen. But entrepreneurs don't think like that. They are optimistic about the future and are always looking ahead.

For a businessman getting a business off the ground is the first challenge once it is done challenges like managing and leading the employees comes in. The attributes required at this stage are:

creativity-Entrepreneurs don't think the same way as everyone else. They see the world differently and think outside the box. Businesses are built on big ideas, and those big ideas need to come from a place of creativity, from a way of thinking that differs from everyone else's thinking.

In "Conversations with Maya Angelou," Jeffrey M. Elliot quoted Maya Angelou as saying, "You can't use up creativity. The more you use, the more you have."

Businessmen are always looking for new ways of doing things and how they can make them better. They aren't satisfied with the status quo. By being creative, they come up with ideas that change the world. To manage and lead a group of people means being ahead of the others and guiding them towards the set task.

• Inspire others-Probably the most difficult job for a leader is to persuade others to follow. It can only be possible if you inspire your followers by setting a good example. When the going gets tough, they look up to you and see how you react to the situation. If you handle it well, they will follow you. As a leader, should think positive and this positive approach should be visible through your actions. Stay calm under pressure and keep the motivation level up. As John Quincy Adams puts it, "If your actions inspire others to dream more, learn more, do more and become more, you are a leader." If you are successful in inspiring your subordinates, you can easily overcome any current and future challenge easily.
• Good communicator-Until you clearly communicate your vision to your team and tell them the strategy to achieve the goal, it will be very difficult for you to get the results you want. Simply put, if you are unable to communicate your message effectively to your team, you can never be a good leader. A good communicator can be a good leader. Words have the power to motivate people and make them do the unthinkable. If you use them effectively, you can also achieve better results.
• Decision making skills-Apart from having a futuristic vision, a leader should have the ability to take the right decision at the right time. Decisions taken by leaders have a profound impact on masses. A leader should think long and hard before taking a decision but once the decision is taken, stand by it.
• Risk-Takers- Risk taking is par for the course when you're starting a new business. But taking risks shouldn't scare you. It's necessary to achieve your goals, and successful entrepreneurs understand this.

In his book "The Four-Hour Workweek" entrepreneur and author Tim Ferriss writes, "What we fear doing most is usually what we most need to do."

If you're afraid to take the leap, you'll never get anywhere. Staying complacent will never allow you to achieve greatness. Entrepreneurs don't let uncertainty and potential failure stop them from doing what needs to be done. Instead, entrepreneurs look at challenges and risks as opportunities, not as problems.

As businessman Robert Kiyosaki wrote on Twitter, "Everyone can tell you the risk. An entrepreneur can see the reward."

I have made honest efforts to develop these attributes and am still trying to do so.all these are the basic attributes which i believe are required to do any form of business and to be successful one should be able to find his/her own in-built strengths and traits and should work on it to enhance and develop them.

Developing employability skills during the initial stages of a degree program is an excellent thing to do. Every employer desires a certain set of skills from a prospective employee. Having a professional CV is a very important factor, after creating a professional CV I felt like I bought a significant difference as to how employers would have a first impression about me. A CV if properly used could help a person display his/her skills and attributes and how they have used it. Some of the key skills that help in increasing employability include time-management, excellent communication, leadership, self-motivation etc. I developed these skills over time, first at school and then at university. I feel like schools and universities play the most significant role in developing employability skills in a human being. These institutions prepare their students for real life situations in many different ways, thus making them more employable. But apart from these academic institutions, numerous skills can be developed through experience at a workplace and for someone like me this can be attained through an internship in a corporate company. In today's highly competitive you have to prove the employers that you are not just the best candidate but, the right candidate for the job. All these attributes has no value if not brought out in the right way . Developing your pre-professional identity as a graduate is a very important and i believe that one can achieve this through internships in the related business sector. Going to a work place itself is an experience for the graduates and can teach them a lot about the work they are interested and it also provides a proper environment to develop the required characteristics and attributes. All these efforts put together will give a graduate a good structured pre professional identity which is what the employers will look at at the time of interviews.

We all have multiple identities (gender, race, ethnicity, sexual orientation, etc.) that affect our life experiences, how we perceive the world around us, and how we are perceived by others. Our backgrounds and cultures shape our identities, values, and beliefs, and they influence which topics we feel are suitable for discussion. It is very important to have the right attitude to become successful in a business or a work place. Communicating and interacting with people is one of the most important components to be successful in business and for this a person needs to develop an open mindset about various things .nowadays gender equality has poise to be a big problem in the working sector .statistics prove that women are getting paid in lesser amounts compared to men for doing the same job. This is not a mistake from everyones part but only a select few in the right places with the wrong attitude. In the management sector men are likely to be more financially rewarded then woman. This gap needs to reduce women and men should be paid the same for the work they do. There are major differences observed between female-owned and male-owned enterprises, and between female and male entrepreneurs. For example, women entrepreneurs have fewer financial resources, their business tend to be smaller, grow slower, and appear less successful if measured by economic criteria (Cliff. 1998). A study conducted to check the wage gap between men and women shows that salaries across 432 organisations that men in senior management positions are likely earning on average ?11,606 more than their female colleagues, putting the pay gap at 26.8 per cent when taking into account bonuses, and perks like car allowances and commission [Chartered Management Institute (CMI), XpertHR, 2017]. The wage gap needs to reduce and as a society we need to work towards making that happen. Ethnic minorities still face significant barriers to social mobility despite many having better qualifications than their white counterparts (University of Manchester, 2014). A preponderance of research indicates that entrepreneurship could provide ethnic minorities more avenues for economic progress (Appold and Kasarda 2004; Bates 2006; Furuseth 2010; Portes and Jensen 1989; Zhou and Cho 2010). But according to an "economic dead-end" perspective argues that ethnic minority ownership provides no automatic social mobility but simply entails "a horizontal shift in which disadvantage is perpetually in another guise" (Barrett et al. 1996, 787). About 43% of Chinese and 42% of Indian people had a graduate-level qualification in 2011, compared with 26% of white British, while the most disadvantaged of the black and ethnic minority groups (BME) - Pakistani and Bangladeshi - had almost quadrupled their rates of degree-level qualifications since 1991. However, very few of these gains in education have translated into employment outcomes." Black male unemployment has remained persistently double that of the white male population over the past two decades. Ethnicity should not play role in determining if you get a job or not, skill and knowledge must decide who gets the job. In the 21st century we as society must move past gender rules and ethnicity. We should move towards all races and genders getting equal amount of opportunities. Females should be paid the same wage a male gets paid for the same work. We should give equal job opportunities to all races. Jobs should be given to the most skilled and knowledgeable candidate. We as a society need to favour equality.

"Businesses look first and foremost for graduates with the right attitudes and aptitudes to enable them to be effective in the workplace".to be one of these graduates I have been moulding myself through every opportunity possible. In the future I would like to start my own business related to the real estate business sector and be an owner, but to be able to do that I believe I should be able to understand people, work with and through them. To do this successfully I should be able to look at things from their perspectives and be able to understand what are the aspirations of the employees, their needs, goals. To achieve this I have planned on working for a company as an employee which I believe will show and teach me things that would help me be a fair and reasonable employer.