THE PROPERTY DEVELOPMENT REVIEW
“STRIVING TO BE THE BEST IS A MISTAKE. IT CREATES AN ILLUSION OF AN ENDPOINT - AND A DELUSION THAT YOU CAN ONLY SUCCEED BY BEATING OTHERS. STRIVING TO BE BETTER SHIFTS THE FOCUS FROM VICTORY TO MASTERY.”
FROM THE CEO
ADAM GRANT
There is much competition in the property industry to be ‘the best’; portray the best image, build the best building and generate the best results. However, whilst being caught up in being ‘the best’ we can often lose sight of what being ‘the best’ truly is. Are you delivering what your clients want on point? Are you focusing on improving your strengths and building on them with ‘the best’ people in your team for customer-centric results? Because results driven from a customer-centric place will most always outsmart the results driven from an ego- centric one. In the long term anyway. Let’s take the mobile phone market as an example. Launching it’s first phone in 1999, BlackBerry were innovators of their time. They were ‘the best’; the first company to introduce mobile email services, unparalleled security features and the QWERTY keypad resembling the desktop. It was the ‘phone to have’ for most corporates which led BlackBerry to peak in sales in 2013 with roughly 85 million users across the globe. Where did they go wrong? Consumer preferences changed and they didn’t. They were ‘the best’, they knew it and took this as their endpoint, instead of trying to master their industry and deliver what the market wanted which were the touchscreens that their competitors were producing. As a result, BlackBerry’s market share dropped to almost a quarter, together with roughly 4500 staff all in the short space of 3 years. BlackBerry eventually attempted to compete and claim back their market however it appeared to be a hasty move as their products simply did not match up in terms of usability and quality anymore. After all, you can’t jump to the top of a mountain, you need to climb, which takes time and skill. And it seems BlackBerry may have been striving for victory, not mastery which is just a momentary short term plan. On the converse, companies such as Apple and Samsung, driven by customer-centricity, market demand and personalisation, succeeded long term
to be ‘the best’ simply by navigating the market, building on their own strengths and what I would assume the best team to deliver. Since last month’s edition we too have continued to expand our team with more than 53 people nationally. We are also continuing to deliver cutting edge campaigns not to mention the large portion of market listings advertised across our platforms CommercialReady and DevelopmentReady, truly striving for mastery with every product line we produce. Rob Langton speaks with Australian businessman and founder of Ahoy, Ian Malouf in his first major in-depth interview, in addition to well- renowned businessman Patrick Allaway , both of whom have captured the attention and interest of many within the industry. Finally, as always, we have kept you up to date with the newest development sites and commercial investment listings, as well as our ‘monthly market moves’ around the Country. Enjoy the read.
ON THE COVER Melbourne Pat Whelen via Unsplash
EDITOR IN CHIEF Frank Materia frank@ readymedia.com.au
ART & DIRECTION Nespecart
ADVERTISING ENQUIRIES Ted Lloyd ted@ readymedia.com.au EDITORIAL ENQUIRIES editor@ readymedia.com.au CONTACT Ready Media Group Level 4, 161 Buckhurst St South Melbourne VIC 3205 03 9631 5476 info@ readymedia.com.au
Nick Headshot - TPDR Intro
NICK MATERIA CEO - Ready Media Group
June / July 2022 – 3
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