I Wear My Sunglasses at Night
I am sure you have heard the phase "The Future's so Bright, I Gotta Wear Shades".
The "glare" or power comes from innovation. Innovation that drives today's best businesses. It is a radical or incremental change in thinking, things, processes, or in services. The "glare" will capture all the "stares".
Innovation in the Real Estate business? We have been buying and selling the same piece of Real Estate for years over years. I find a buyer, you have a seller, where is the innovation going to come from?
Associations restrict what we can do, attorneys judge what we do, insurance companies cover what we do and states regulate what we do. Where is there room for innovation? How can we work outside of the egg?
All innovations through history have evolved from three fundamentals. These fundamentals guided the radical or incremental change that lead to the innovation. They are Efficiency, Passion, and Value or EPV for short. Innovation usually starts with a strong passion or metaphor. (Horseless carriage or Candle-less light) The passion then was moved in a structure of efficiency and finally into the mainstream perception of value.
If we apply the definition of innovation with each EPV we can start our search of innovation in Real Estate.
Here is a current example of how something is becoming an innovation which in turn opens up micro markets and opportunities. "GREEN"! The green wave started 13 years ago with a passionate few. There was no efficiency or perceive value. Every year the efficiency bolt has been tightened and the cry of passion gets louder. Even now the perception of "green" as a value has just started to move. Houses one day will be "all green" and it started with EPV!
Now look at the 3 vehicles of innovation. Things, processes and services. How can you apply EPV to these to either improve on an existing perception or maybe start you own innovation.
Efficiency, Passion, and Value. The Future is so Bright. Has anyone seen my glasses?