An autobiography book about real estate broker (William Zeckendorf) who also owned and developed property in all segments (commercial, industrial, residential).
Key Takeaways
Page 43 – “Bridging the gaps between the need of disparate groups. The greater the number of separate groups (or their needs) that one can interconnect (or satisfy), the greater the profit to the innovator-entrepreneur.”
Create value, solve problems, connect the dots, and help people work together. You will be rewarded.
Page 81 – “If he had been just a little more astute, he would have sent some broker with his heels worn down and the cuff off his pants in shreds, and they would have gotten the property at a bargain rate”
Simple lesson here, never show your cards in a negotiation, price comes last.
Page 105-6 – “The importance to me of being on the heights was that in an hour I could achieve what previously would have taken a year or more of effort to perform. Other than that I found the dwellers on the heights little different from their less advantageously placed brethren. There is a selection process which sees to it that a significant number of upper-level people are smarter, more aggressive, and in some ways more self-assured than the average, but a good many dwellers on the heights got there entirely by accident. They were born there. Other, like lowland birds blown far up a mountain by a sudden storm, found themselves at heights they never expected to reach but which they managed to adapt to. I did find numbers of tough, strong men who had worked their way up from they very bottom, but most had started from a place within hailing distance of the height they reached. I found it possible to join their ranks without discommoding or unsettling them, for one way to succeed is by aiding and supporting the position of others through new or ingenious ideas or projects”
This is an interesting observation saying in general people are more aggressive and astute at the top of the socio-economic ladder however they are not geniuses. At the same time it helps to be up there because it makes it easier do accomplish things. It who you know. And how do you fit in? “aiding and supporting”
Page 145 – The Hawaiian Technique – Break up properties to serve to different parties. A land lease to serve as a preference share. Building lease to serve other investors.
Customise products to suit different needs. Bareboat charter and time charter.
Page 178 – “My observation has always been that after a certain key point you must move ahead as if a project were assured – in order to assure it – because if you wait around for all the pieces of the puzzle to fit before closing a deal, you can wait forever. Counting on own abilities and the evident worth of the project to bring in the additional capital we needed, we let the first construction contracts”
Act as if you have everything you need already.
Thoughts
Some great lessons here but overall, the book is a drag, too many details about property deals and developments. I guess the key takeaway from that is how each and everything was a struggle, so to expect the same when you undertake great ventures. The thing is he did go bankrupt but that’s more a case of bad money management then anything else. I give the book a 7/10.
I am responsible What a thing to say What are you responsible for? The economy? Global warming? The weather?
But you are responsible.
Responsible Roles and responsibilities We all need to do our job, each and every day In my family each day, each of us has responsibilities My wife and mine is to work to earn money And my 11 month old child is to go to day care so we can have the space to work On the weekend it’s to be a good partner, father and company so we can enjoy our day
We are all responsible for our actions but more importantly our reactions
How we react to something or someone is within in our control
Do you let the emotion overwhelm you?
Or do you take a deep breath and let it pass?
What about the things we do with our time? Are you doing things you enjoy? Or do you let the universe fill your time
The smartest people in the world are working to make sure you spend time on there websites
You are responsible on how you spend your time
The last point is interactions Our relationships are the most important thing we have With our parents Kids Spouse Neighbors Strangers And with ourselves
We are responsible in those relationships They are partnerships The way you talk, treat and act around them is key. Do you greet them with a smile? Are you generous? Do you take time with them?
You can take little steps everyday to ensure the health of your relationships
It’s a dichotomy of life You are not responsible for every thing But in a way You are
I am too harsh at the moment Too biting Giving my opinion about everything Making jokes and comments These things don’t help They don’t help anybody
My opinion is not needed Not necessary If they tell you something just smile and nod. It isn’t really going to make a difference what you say And your not there to make a difference You are there to enjoy yourself Because the time you have left with them With both of them Is limited So wouldn’t you rather see them smile then shout? No more leading questions just to make conversation Just relax
The same goes for the ‘sense of humour’ Why are you trying to be funny? Are you still a kid trying to impress people ‘hey look at me’
Go there and be a positive force Not a clown Too often I miss the mark and my intent isn’t pure
Help tidy up Wash the dishes, put your books away Help clean the pool area Be a positive force
That is something to strive for Be a positive force
I felt really bad when I left yesterday It would be better to feel good
She told me I need to stop making assumptions about why people act a certain way Think a certain way Or behave a certain way
“You do not know what is happening in there personal life”
She was right
Our assumptions get us into trouble They will lead us down the wrong path
Everyday I go to work I have certain assumptions about how that day is going to go Positions people will take Work people will do And in general these things do not happen
Other things happen
And of course I get angry Disappointed Upset
Why?
Because my assumptions were not met
What a curse to put on oneself
To constantly set hurdles Benchmarks to be met before you can be at peace
These assumptions, hurdles, obstacles if you will Are big reason for my daily angst and stress No assumptions
People will do what they do And you will do what you do No assumptions As to why
No assumptions To explain the quality
No assumptions to explain the punctuality
No assumptions People are people And what will happy Will happen
Go in fresh each day Clean slate Full of love and with no assumptions
Go in and do your best with no assumptions
Go in and do your best and don’t take it personally With no assumptions
Stranger in Sydney 