1. What’s the best way to make better real estate decisions?
Make better real estate decision-makers.
And by the way, don’t try to replace them with mathematical models.
2. How do you make better real estate decision makers?
And by the way, don’t train them to be better bureaucrats; train them to recognize the difference between good locations and bad locations.
3. What’s the hot trend among chain operators today to make better real estate decisions?
Replacing decision-makers with mathematical models and training the remaining ones to be better bureaucrats. Continue reading
After you think about art and science in decision-making for a while, it can be addictive. I can’t even shoot arrows in my back yard without thinking about it. Continue reading
It’s hard to miss the similarity between baseball and site selection, right?
“That store is a home run.”
“We’re going to have to step up to the plate and do the deal.”
“She threw me a curve ball with that percentage rent clause.”
“We’re going to have to knock it out of the park to catch up to our competiton.” Continue reading
What’s worse? Too little science or too much science?
Ahh, trick question. The answer is that science is not a quantity that can be measured and compared to a standard. Most people would agree with this, but we often hear people say “we need a little more science in our site selection process.” Continue reading