Higgi Haus creator Luke Spikes demonstrates the power of brand in creating a successful business
After senior roles in corporate life and founding and leading seven startups in total, Luke Spikes created higgihaus in 2017, a business that provides serviced accommodation and boutique hotels across the UK for young professionals to stay in.
Luke joins me in this episode and we discuss:
- Luke’s approach to developing a property strategy
- Luke’s two biggest failures since he started higgihaus
- How Luke maintains focus for himself and his team
In this episode we discuss:
01:16 Introduction to Luke Spikes
- What people might not know about Luke [03:20]
06:15 Luke’s ambitions for higgihaus
- Objectives for the decade [07:04]
- Building a higgi village [07:29]
07:37 Luke shares his property vision – Through-Life Social Living
- “For me, it (property strategy) begins with what problem you’re seeking to solve and what customer you’re seeking to serve.”
- About Through-Life Social Living [09:55]
12:32 What is the higgi village?
14:08 Why Luke focuses on property problem-solving
18:03 Why Property? Why not the previous businesses you started like the analytics business?
20:45 Luke talks about one of his targets – Building 5,600 rooms
23:07 Luke’s two biggest failures since he started higgihaus
30:16 The number one thing Luke had to work on to become the successful investor he is today
31:56 How Luke maintains focus for himself and his team
Quick Juice Questions
34:34 What do you look for in a property investment, and why?
“First and more important is financial discipline. We have some thresholds that any investment we make has to meet. No matter how beautiful or interesting or attractive the building, if it doesn’t stack, we don’t do it.
The second thing is, ‘If it stacks, does this take us toward where it is we want to be?’ In our case, that is very focused on providing shared accommodation, seven beds or more, all ensuite.”
38:15 Where should someone start if they are new to property?
“Get yourself educated. Really get yourself steeped in what it is you’re going to need to do and to know in order to be successful.
Second thing, find someone who can provide a bit of advice and guidance. Mentoring might be the way to describe it. On the other hand, just someone you know who knows perhaps a bit more about it than you or has a different perspective on it.”
40:35 What most inspires you? When and where are you most inspired?
“The inventiveness and curiosity of others.
When I see people who are doing inventive and curious things, it always gets my attention and, more often that not, something comes from it that I learn. And if I’m learning, I’m inspired.”
42:36 If there’s one last bit of Executive Juice you can share for people who want to get to the top of their property game, what would it be?
“Stay curious, stay interested, get educated, and make some money.”
Quotes
- “You learn most from the things that go wrong.”
On property strategy
- For me, it begins with what problem you’re seeking to solve and what customer you’re seeking to serve.
- Ultimately, you don’t have a business unless what you’re doing is serving a customer who’s willing to give you enough money to ensure that what you’re doing is profitable.
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