As we get back to work after the Christmas break and begin planning for this year, it makes perfect sense to begin with a review of what we achieved in 2017. After all, you can’t set targets for improvement if you don’t have a base line to start with.
We had a rollercoaster 2017 in our first year of running Coronet Group. I setup the business the year before, but we only started operating seriously from Spring 2017 onwards. We hired a business coach in October and that’s when everything changed.
So, here’s a few of the key highlights from 2017:
We viewed over 100 properties in Bedford and Northampton including everything from one bed flats, to large commercial conversion schemes and land too
We grew our database of property investors to 61, including professionals from England, Scotland, Singapore and India
We established ourselves with local agents in Bedford and Northampton – they now regularly bring deals to us before they hit the market
We attended Simon Zutshi and Hanif Khan’s two-day deal sourcing masterclass in Birmingham, improving our knowledge on how to source properties and structure deals
We enhanced our professional infrastructure – including anti-money laundering compliance procedures and a new investor on-boarding process
We improved our deal analysis and marketing tools, sharpening how we stack up deals and present them to the market
We setup a CRM platform that enables us to manage every step of matching up property deals with investors
We added new professionals to our network of professional property suppliers, including legal and finance experts
We grew our ability to source deals, partnering with a supplier in Liverpool who sources for us all over the North West
We started a partnership with hotelier that will be the platform to establish a serviced accommodation business over the coming year
Crucially, we started to see revenue from deal sourcing and conversion management services
This was largely all achieved during October – December, with three months of massive action. It has set us up for a fantastic 2018. But, as every business owner knows we now need a new set of targets to aim for, if we want to move our business on.
We plan in 90 day cycles so here’s what we will deliver in the first quarter of this year:
To sell 5 new packaged deals, either HMO projects, BMV, commercial conversion schemes or land deals
To repay the start-up loan I invested in the business
To grow our investor database to more than 100 contacts, who will receive regular updates on new deals we’ve sourced
To hold two investor discovery days to get to know our investors and their requirements better
To enhance our direct to vendor marketing campaigns and deliver at least three deals from this route
To further develop our plans for a serviced accommodation business
I hope you will hold us to account on these targets. Part of the reason for publishing this on our blog is to motivate us to commit to delivering what are not easy goals.
I wish you every success in 2018 with your property investment businesses and welcome you to contact me here if you’d like to discuss how we might work together.