TerraNovaCorp and the Cycle of Success
Understanding the economy is one of the most important aspects of a business. While many people would like to have a successful business, it is equally important to have a business that can survive a changing economy. How to sell and market the products of a business during a changing economy can mean the difference between short-term and prolong success.
While most people understand that there are ups and downs in the economy, business owners’ knowledge extends further. They know that there specific repetitive cycles that the economy experiences. Understanding each cycle can help one make better business decisions and determine the direction of a business.
Stephan Bittles understands the economy and business very well. His real estate business, TerraNovaCorp, has been in business for forty-one years and has survived several recessions, demographic trends, and other competitors. The business success depends on Stephan’s ability to quickly adapt and change the direction of the business.
Stephan Bittle started his real estate in Miami, Florida, while still in Law school. He started the business during the middle of a recession and was always aware of the challenges that his business could potentially face. Stephan and his business would survive the recession, and then they would survive five more recessions.
In between each recession, Stephan took advantage of the periods of economic growth the followed. He also followed trends that can give him a better prediction for the real estate markets. During a recession, it is not uncommon to buy distressed properties. Stephan often buys these properties and adds them to TerraNovaCorp’s portfolio.
He also forms partnerships with other businesses and retail giants that can he can use to his advantage. One partnership involves the supermarket chain Publix. He partnered with them to help increase the traffic in the strip malls he owns.