Interested in starting your own entrepreneurial journey in real estate but unsure what to expect? Then read up on our interview with Michael Berne, Founder and President of MJB Consulting, located in Berkeley, CA and Manhattan, NYC, USA.
What's your business, and who are your customers?
MJB Consulting is a San Francisco Bay Area and New York City-based retail planning and real estate consultancy that works with municipalities, business improvement districts, non-profit organizations, as well as developers and investors across the U.S., Canada, and the U.K. on market analyses, revitalization strategies, leasing plans, and implementation efforts.
Tell us about yourself
I love this work, though I cannot say that I ever envisioned it for myself. I received a graduate degree in political philosophy, but I had always been interested in cities and eventually found my way to urban planning. While working at a planning firm, I started to carve out a niche in retail, specifically in Downtown and "Main Street" business districts. Part of what draws me to it is the fulfillment that I get from seeing and understanding patterns -- in how consumers behave, how retailers think, how markets and districts evolve, and how perceptions and narratives shift.
What's your biggest accomplishment as a business owner?
Creating a successful and enduring practice -- MJB Consulting is now 21 years old -- which has allowed me to be my own boss, travel extensively and afford a nice quality of life in two very pricey metros (San Francisco Bay Area and New York City). It has also provided me with a platform to put my ideas forward and (hopefully) influence how others think about the subject.
What's one of the hardest things that comes with being a business owner?
Turning down work. In the early years of the business, adding another client meant extending further into the future the stretch of time during which I would be busy generating income -- as in "if I accept this assignment, I'll have nine months of business versus six" -- which engendered a feeling of security. I learned over time that sometimes less is more, as it can enable you to devote more time, energy, and creativity to each project, which improves the ultimate work product and increases the likelihood of word-of-mouth referrals. But when the habit of saying "yes" is so ingrained, it can be surprisingly difficult to say "no." Doubly so, when you're the type who finds virtually any city or town fascinating.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Start with what you love -- you're more likely to be (or get) good at it.
- Identify and exploit a niche -- it is much harder to compete as a commodity.
- Invest in or partner with people who can do things you can't -- you won't be good at everything.
Where can people find you and your business?
Website: https://consultmjb.com/
LinkedIn: https://www.linkedin.com/in/michael-berne-9179442/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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