Importance of Vision & Mission in Real Estate Business
Above everything else, vision and mission statements provide unanimity of purpose to organizations and imbue the employees with a sense of belonging and identity. Indeed, vision and mission statements are embodiments of organizational identity and carry the organization’s creed and motto. Siddharth Mahajan vision and mission statements served as focal points for him to identify his goals with the organizational processes and to give them a sense of direction.
With a strong inclination to offer a unique housing service to people, Siddharth Mahajan developed the idea of creating service apartments. Without much knowledge about the course of activities, Siddharth chose to gauge from his own personal experience and sensibilities as part of the UK community where he lived, worked, and spent time with friends and family. This background provided him with the ultimate sense of what appealed to people about a particular place which in turn makes retail, hospitality, or commercial property successful.
Siddharth Mahajan thus began his professional journey and started building a business that stands robust today. Witnessing success at such a young age is rare but certainly, the result of dedication and a driving force directed well towards the desired destination. He conceptualized his business basis the housing needs of long term travelers like business executives and students.
To begin with, he converted his own properties into HMOs. Through time, Mahajan received an overwhelming response and he then started investing in properties to accommodate the growth of his company. Currently, there are seven assets that belong to Siddharth and are operating as HMOs and 47 more assets registered under the name of his business — Tulip Hotels and Real Estate Ltd.
Siddharth Mahajan vision was simple and it was in this simplicity that lay an enormous amount of his own genius. He wanted to provide world-class accommodation to business executives and students who would travel frequently, but in a way that would offer them the comfort and convenience of their own homes. His vision and mission were well aligned and kept drawing clients to his business.
The concept was to let a house on rent to multiple guests at the same time. For example, if the house had six bedrooms, he would treat each bedroom as separate property and let them out on rent to guests. Taking the plunge himself, he first converted seven of his own properties into HMOs, testing the idea in the real world. As it garnered success, he went on to add more properties to the list.
Siddharth Mahajan vision to garner success stemmed from his perception that restricting dreams meant confining growth. He strongly believed and preached that in order to open up massive avenues of progress and success surfaced only if one dared to dream big. He always believed and urged his team to chase their dreams because that was the sole way to success.
Siddharth Mahajan’s mission has been to create a sense of place for the UK community and offer travelers a home away from home. This gave meaning to his work and specified the core structure on which the organizational edifice stands. Being focused on his mission helped in the translation of objectives into actionable cost, performance, and time-related measures. Mahajan strongly believes that the management cannot create a new values statement or ethics code and expect immediate change. For an organization to have an effective values statement, it must fully embrace its values and ethics at all levels of the company and use them daily to guide its attitudes, actions, and decision-making.