Ed Fernon has gone from a university dorm room to the 2012 London Olympics, and after five years, he finds himself in yet another brand-new field – the business of creating wealth through property development.
While he humbly admits his lack of experience in the field, the former Olympian believes that the sense of commitment and goal-setting psyche that he acquired from his long career in sports have set him up for this new chapter in his life.
He shared: “(Property development) can become very overwhelming at times, but just like when I was training for the Olympic Games ... I get such a rush out –that’s what I go to bed thinking about and I can’t wait to get up in the morning to sink my teeth in. There’s certainly no doubt some risks involved in that process but what I’m more focused on is the opportunities and the problem solving.”
According to Ed, one of the greatest advices he’s got as an athlete still helps him now in his career as a property developer, and it’s from no less than the coach of the most decorated Olympian of all time Michael Phelps.
The talented coach reminded the then pentathlete of the true meaning behind “having a win mentality.”
He said: “For me, it was like, ‘Well, of course, you want to win. Everyone here wants to win. He’s like, ‘No, no. What’s important now? What do I need to do today that’s going to make that difference tomorrow?’ And I think a lot of people get into property and they’ve got a very short-term [mindset]. They’re going to do it all now and it’s going to be all amazing, but I think most people overestimate what they can achieve in the short-term and underestimate what they can achieve in the long-term.”
“We’re standing here today talking about this investment that I’m doing at the moment, but [it] has been a four-year process to lead to this. If I’d just started with this deal, I’m sure it would’ve been an absolute flop and I would’ve had no idea what I was doing, but I think the lessons I learnt have helped to bring me to where I am now. Anything I don’t know I really try and find good amazing people in those areas to bring them in, become a part of my team to provide some really sound sales advice,” Ed added.
Just as he was after the medals when he was an athlete, Ed is now focused on creating innovations as a property developer to better serve his would-be clients.
His final advice to prospective property developers: There is no such thing as a goal too big and a journey without mistakes.
The athlete-turned-property developer concluded: “I think if people aren’t laughing at your goals, they’re not big enough. A lot of the people who start in property investment, they’re quite risk-averse. They don’t want to make a mistake, but at some stage it’s just being able to take that leap of faith and to be able to engage. I’ve now got a great team who are working with me, and to be able to see them grow as well and get engaged in the process is pretty inspirational.”
Tune in to Ed Fernon’s episode on The Smart Property Investment Show to know more about his whirlwind journey from a university dorm room to the 2012 London Olympics, and on to a successful career in property development.