The article “Adam Milstein-Managing Partner of Hager Pacific Properties” by the website ideamensch.com gives you a picture of how Adam Milstein thinks as an entrepreneur. But first a little background on the man.
A native of Israel, he graduated from the Technion in 1978. When he came to the US in 1981, he earned an MBA from USC, then began a career in commercial real estate in 1983. Through the years he has earned other titles: entrepreneur, philanthropist, real estate investor, community leader and currently, Managing Partner of Hager Pacific Properties. These are the stats of a successful person, but how did he get to where he is today?
When campus recruiters didn’t appreciate his knowledge or experience and offered him less that what an undergrad would make, he decided to go out on his own as a real estate commercial broker. After 3 years of continued success, he became a partner of Hager Pacific Properties, a real estate investment firm.
Milstein alluded to three important concepts to how he became a successful entrepreneur:
- One much understand the problem and look at the issues for yourself. You should not rely on other people to do your thinking.
- Success is a long term journey and to think of taking short cuts could lead you to failure. This advice by the way, is the result of his own early failure, when he was selling art to temples in Israel. With great success selling a small amount of art, he decided to buy a huge amount of inventory to make an overnight fortune. It didn’t work out the way he planned, the art took longer to sell than he had hoped.
- Always follow up on your leads for ideas.
As to the type of habits one should have to be a successful entrepreneur, it is the same habits that Milstein follows: follow-up, consistency and persistence.