Ting Zhou, Founder and Director at Abundance Property Group, believes in being invested in the development of her venture and self in pursuit of a worthy idea.
Tell us about Abundance Property Group.
Abundance Property Group is specialised in facilitating aspiring property developers and investors both locally and from overseas to initiate, complete and invest in development projects successfully and profitably in Sydney, Australia. We provide the following services:
• Property Development and Investment training courses
• Property Development and Investment consultancy
• A service directory to connect all service providers with buyers/potential clients
• Abundance Property Development and Investment Club Membership
You moved into property development & investment after an accomplished career in financial services. What attracted you to the industry?
The opportunity to be my own boss. Property is an excellent investment vehicle to generate cash flow and create wealth, and property development is one of the most effective ways to build net worth in a relatively shorter period. With finance being an essential part of this business, the knowledge and experience I accumulated while working in the financial services/banking industry have given me a competitive edge.
I love the opportunity to learn and improve daily (because there is so much to learn!), run my own projects, own my property assets, and operate Abundance Property Group in a way that brings value to our clients daily so they are informed and can be successful in pursuing their investments too.
What was the biggest hurdle you faced in the formative years of your business and how was this overcome?
The biggest obstacle I had to face was to become aware of what my personal limitations are in terms of making a small business successful, work to improve them and eventually overcome them. It is more of a personal transformational journey. I undertake daily personal development activities to make sure I am on track.
There are many aspects of the business we have to deal with as a business owner, but we need to be the master of ourselves before we can effectively direct and manage as a leader and eventually get the results we want from a team. Prior work experience although helpful, in a way, can hinder our thinking ability as an entrepreneur because we were given lots of resources by our employers. As entrepreneurs, we have to create everything ourselves with not many resources to draw from. That is tough for anyone to start with.
What does success mean to you?
Success means having a “worthy idea” and then eventually make it a reality in the physical world. A worthy idea is a vision or goal that you are happy to dedicate the rest of your life to because it represents the authentic you. As this idea benefits clients, employees, investors, and community as a whole; it needs to be so good that without realising its potential, would mean a loss to the community.
What is the toughest decision you have made?
Letting some people go. It is not easy to find the right people to work with, and letting them go is even harder. However, it is important to work with people whose value systems are aligned with yours and the organisations; as such, they also need to feel that they are developing themselves by working with you.
What is one thing you’ve accomplished that you take the most pride in?
Identifying a gap in the market and created the business model for Abundance Property Group from scratch. I had to refer to a lot of existing business models of course. I believe our business model is unique, and really addresses the unmet demand from clients in this market.
What advice would you give to an aspiring entrepreneur?
Determine your “worthy idea”, have a plan, and act. The plan does not have to be perfect since the “how” is not as important initially as the “what”. Also, work on yourself daily so that you can persist with your goals and not be affected by anything external.