Real Estate Sector: 4 2020’s lessons and 4 Keys for 2021

Real Estate Sector: 4 2020’s lessons and 4 Keys for 2021
Jorge Muñoz

The great challenge for some companies remains centred on decision making concerning their corporate structure. Because, although uncertain, predictions have already started shedding light over what will become of the market.

Companies like ours, dedicated to outsourcing processes and technologies, are those permanent implants which have witnessed, from a very privileged position, the movements and changes in very diverse structures. Thus, from our experience, we want to offer those clues adapted to the COVID era.

4 Lessons 2020 taught us:

• Do not close the door to any opportunity to diversify. No matter how small the initial investment, it will work out a potentially scalable plan B when another business weakens. No matter how big or how good you are, if your business is focused on one single sector or area of expertise, you will have better chances of facing collapse.

• Empower your team. This crisis showed many partners – and us at Sun Capital as well – how important it is to have a team in continuous training. Many ideas and initiatives, key for our survival, came to us thanks to this. And forget about «what will happen if I invest in training my employees, and they leave», think about «what will happen if I don’t invest in their training, and they stay».

• Observe the trends, learn and don’t postpone the moment to sit down to reflect and prepare your action plan. At times, difficult circumstances allow individuals to develop resources which were dormant or unknown until that moment. The same happens within companies. You have already seen that after crises end, the world comes out of them transformed, and, as a consequence, that demands a great transformation from your company, if what you want is to come out of the crisis adapted to that new world, generating business and opportunities.

• Think of reinvention as an investment more than as an expense. Always be one step ahead or you will risk finding yourself pushed out by the market itself. Forget excuses like «it will be very expensive» and take advantage of the technologies being developed in Spain which may help your business cut on time and costs by automating some operations and allowing you to invest those savings in other areas where a valued talent may make the difference between added and outstanding value.

4 Key thoughts to bear in mind during 2021:

• Since you already started your path towards upgrading, do not stop! What 2020 started, let neither 2021 nor the recovery stop. Do not fall back into your comfort zone. You are integrated into a reality which will become increasingly more technological, more intelligent and which is already thinking about solutions for problems that haven’t appeared yet. In terms of BPO, for example, we are designing never before seen solutions such as new ad hoc platforms, protocols and processes for each client.

• Practice flexibility. 2021 will be a transitional year and, as with every transition, surprises are around the corner. Get used to acting, when faced with uncertainty, with poise, but also with resilience. And this leads me to recommend you not to discard an unlikely scenario of exponential demand and the need to quickly resize your teams, acting outside the calendars traditionally established for hiring.

• Listen to your client more attentively. Whether you are a B2B or a B2C company, your task should be focused on helping them grow, and for that, you need to pay attention and read not only their demands as their issues and decisions, but anticipate yourself and understand how you can add value during an unprecedented situation like the one we are learning to live in. Try to make your clients shine, do not limit yourself to answering their questions. Making your clients grow will help you build strong and lasting relationships.

• Do not fear ambition. Focus on being better, not on surviving. Understanding the sector and its needs and qualifying yourself will help you stand out during a time of great challenges, but also of great opportunities.

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