Like millions of others from around the world, the Mullin family was glued to the 2014 Winter Olympics broadcasts on television. I find the games to be captivating—both winter and summer. The participating athletes represent the greatest from around the globe. There are always some close calls, as evidenced by the Men’s 1500 Meter Speed Skating, where the difference between Gold and Silver is three-one-thousandths of a second!
Watching the Olympic Games brings back the reality that competition promotes:
• Discipline
• Expanse
• Focus
• And yes, “The thrill of victory and the agony of defeat!” (Thank you Jim McKay for coining that phrase!)
The facts about competitiveness are true in athletics and, of course, in our industry. We work in one of the most competitive industries in our economy, and we have all learned from both experience and anecdote that Dallas is one of the most competitive commercial real estate markets in the United States. National real estate directors and asset managers frequently comment that the Dallas real estate community must be the largest industry, based on the number of people who call on them.
Real estate investors and users are reaping the rewards from this competition. That’s because competition makes us better. And who is the beneficiary of the competition? Well if I am watching the Olympics, it’s me. I am thoroughly entertained by watching these athletic thoroughbreds show us their skills. But said differently, it is the consumer of the goods and services that we market to every day that is the beneficiary.
Expanding the discussion a little more globally, the critical component of capitalism is competition. Competing in the marketplace has yielded:
• the greatest creation of wealth
• the greatest distribution of wealth
• the highest standard of living of any place on the globe
Sometimes I think we lose sight of the fact that competition makes us better, on so many levels.
So, let’s get out there and expand our creativity, focus on how we can do things better for our clients, and be disciplined about the delivery of our services . After all, this is not for the benefit of ourselves, but for the value of those we serve. If we do this effectively, we will be sustained in the marketplace and well compensated for our efforts.
Daryl Mullin is an executive vice president at Jones Lang LaSalle. Contact him at [email protected].
