The Real Estate Canvas
In the business world, using a canvas to describe, design and create a successful project has been an important tool for entrepreneurs looking to achieve a strategic management of their business.
In the business world, using a canvas to describe, design and create a successful project has been an important tool for entrepreneurs looking to achieve a strategic management of their business. This instrument has been adopted in various industries and the Real Estate is not the exception.
To achieve successful and more profitable developments, it is recommended to use the Canvas Real Estate. This facilitates the conceptualization of projects and their management.
Filling the canvas with the information concerning each category facilitates the comprehensive understanding of all the participants that exist in a project; it allows to visualize in a single diagram and in a logical way the advantages and disadvantages of the market strategies, income and expenses.
There are some key elements to adopt this tool in our industry. I detail some of them below:
Terrain + Hypothesis
After an exhaustive analysis, a hypothesis is determined to select the best terrain or the best solution for a specific property.
This part defines the elements that will generate the value of the project, which are essential to achieve a competitive advantage.
A supreme body made up, generally, of the group of partners and directors, or those who make the important decisions of the project. Periodic meetings are recommended to evaluate progress and compliance with the plan.
This is a resource that guides us towards the goals of the project. In order to detect the critical paths, it is recommended to use tools such as Project or Smartsheet.
This section should conceptualize and build a financial model that integrates, over time, the most important assumptions of income and expenses as outlined in the plan. This is a dynamic tool for decision-making.
Marketing and Experience
Marketing has become a very important issue for projects that involve a greater approach with customers and promote their greater participation in the process.