The company I founded is turning 20 in 2020 – this is a major accomplishment, especially when you realize that many companies fail within the first 5 years. It’s been one of the hardest things I’ve done in my life, but I am thrilled to the point where we’ve gotten. However, I think it’s important to never get complacent. Because of the company’s anniversary, I thought it would be prudent to come up with 20 thoughts for 2020. I truly hope you enjoy!
- I started the company in a subleased office space with two small offices above Ted’s Montana Grill on Larimer Square in lower downtown Denver, and now we reside on the 35th floor in one of Denver’s tallest skyscrapers.
- We have closed nearly 150 deals in our history.
- I am proud of the benevolent nature our company has maintained – from building spaces for nonprofits, to creating thriving environments for charter schools.
- I do believe an economic slowdown is coming, however it’s important to not panic as it will present many opportunities.
- The 2008 global financial crisis was a once-in-a-generational event, and I believe I am better because of it.
- I believe we all need to learn more, and encourage you to read 5 books this year. If you would like one to start with, I am happy to give you a free copy of my latest book “Building: Lessons Learned in Real Estate and Life” in audio (read by me) or hard copy.
- We started with only owning assets in Colorado, and now we own assets in 15 states throughout the U.S., which gives us a unique perspective on the national economy and its trends.
- I started with one employee, and now we have almost 50 professionals. Managing staff is not easy, but it is gratifying to see people thrive.
- The commercial real estate market will experience dramatic shifts in its use, demand, utility, etc. in the coming years given artificial intelligence, technological advances, autonomous cars, etc. This will create challenges and opportunities.
- 2020 is a Presidential Election year, which could negatively change the course of the economy.
- I am grateful for the thousands of jobs we have helped to create through the acquisition, improvement, development, and occupancy we have created in our assets throughout America for 20 years.
- America is the largest commercial real estate market in the world and will continue to have strong demand for international capital.
- Rarely in life can one remain stagnant. You either grow, tread water, or collapse. We plan to grow at NCP.
- When hiring people, hire the best, as putting “A Players” on the field will make you better.
- Decide what you want your legacy to be, which should include a definition of loving and serving others, vs. only pursuing financial success.
- I have found that writing down goals at the beginning of the year, frequently reminding yourself of them by re-reading them throughout the year, are vital to accomplishing them.
- During 2019, I lost my dear friend and campaign manager who was 29 and killed in a helicopter crash in Kenya, and my 27 year old executive assistant in a hit and run car incident. This has reminded me that life is short and precious, so please be sure to tell people that you care for them and love them regularly, as it may be the last time you are able to do so.
- As we have exceeded over $1 billion of assets nationwide, I am excited to see how quickly we exceed the next billion, and the billions after that.
- Relationships. Relationships. Relationships. I entitled a chapter about this in my book “Building: Lessons Learned in Real Estate and Life” and I believe this is crucial to success.
- Turning 20 in 2020 is an exciting time, and in addition to feeling fortunate and blessed, I look forward to putting initiatives in place this year, which will allow my company to celebrate 40 years in 2040!
This post was written by Northstar’s Founder & CEO, Brian Watson.
