Kip Lewis is one of the most recognizable real estate magnets in the country. He has made a name for himself through the success of Lewis Investments, a top performing real estate investments and development firm with headquarters in Round Rock, Texas. In a recent interview, Lewis shared business success advice.
Create several income streams
This iconic business leader residing in Austin, Texas, said that ambitious businesses should create several income streams to secure their success. He pointed out that a business that has one revenue source was putting itself at great risk. This is because if anything went wrong with that revenue stream, it would be staring at difficult times that could lead to its end. Kip Lewis mentioned that having several income streams means that a business can still fund its operations even if one revenue source dried up.
Creating quick and effective communication structures
The Lewis Investments founder mentioned that excellent communication plays a significant role in the success of businesses. This is because it allows for easy collaboration between employees and departments. Additionally, it enables the entire business to function better as a single unit.
Plan for eventualities
Although the business might be undergoing tremendous prosperity now, there is no telling what the future holds. Lewis Kip said that this is why a company should always plan for eventualities. This means setting aside some funds to support the business’s operations for a while if anything goes wrong and it can not bring in revenue.
About Kip Lewis
The Austin based real estate entrepreneur has had an impressive three decades in the business world. Although his Round Rock, Texas, real estate firm started from humble beginnings, it’s now among the industry leaders in the region’s real estate market. Its portfolio comprises retail, industrial, office, and residential properties, RV/MH spaces, and raw land.