A member of a group on another forum provided me his story about transitioning from psychology to real estate with some interesting twists and turns along the way.

I thought it might benefit lots of you who are still following your bliss to your own niche. Note how much he talks about marketing and marketing tactics. . .

"My basic training was in the field of psychotherapy, so two of the four businesses I started were in that field. I had a private practice that I built by using the community resources to build referrals to a point where I had to hire an increasing number of professionals to take them all. I started an addiction treatment agency that I built into a chain of clinics that covered a region.

"My first business was the result of a lifelong joke. When I entered the field of psychotherapy, I worked for others for a dozen years and joked: "When I am thirty-seven, I am going to retire, move west and open a retail store."

"Darned if I didn't retire, move from PA to WA and open a leather furniture store at age 37. I know nothing about retail but within five years, I "owned" the field by using networking, clever ads, lower than expected prices and an innovative technique of developing my own manufacturing, distribution, sales chain without investing a nickel.

"I found a hungry young factory owner who would produce goods for me on demand and under a private label. I found a shipping company who gave me lowered rates for all my business from NC to WA using piggy-back shipping to fill empty spaces on their trucks. Five years later, I sold the business to someone who wanted it badly enough to pay for all my hard work and ideas.

"I learned from the experience. After I left retail, I worked only for myself in my old field - psychotherapy but I used retailing methods to build the business while using clinical acumen to create a successful track record. I made enough from the sale of the retail business that I could take risks. Because I could take risks, and took them wisely, I succeeded.

"My last venture in my professional field was a chain of addiction treatment centers that started as a two person practice. After obtaining a state contract, I opened five branches and employed 25 professionals as well as auxiliary staff.
The principles I used always included a study of the need before venturing out. That often was easy because the studies always existed. It was a matter of knowing how to find them and interpreting them properly. I always paid attention when I took statistics in college. I struggled with it, but I knew how to do a level two ANOVA and interpret the results.

"I used advertising and networking in unique ways. I did my own advertising copy for the stores. When I started the clinics, I wrote a weekly article for a newspaper that both served to inform the public about issues I worked with and advertised my service with the permission of the newspaper.

"I was always good at networking and got contracts with modeling agencies and television networks to help their impaired personnel. It caused me to open a part-time New York office on Fifth Avenue which didn't hurt my reputation, either! Those referrals took me into the entertainment industry in other ways that were even more fun! That is grist for a different mill.

"I retired at 64 because I didn't want to work anymore. A couple of years later, I regretted the action but didn't want to practice psychotherapy at any level whether it was direct service or administrative. So, I bought a few condos in a location where I would have had to have been a crustacean to fail. The entry price was low. I found that an old hotel in the middle of the hottest residential area in Center City Philadelphia had been converted to condos and were selling at a ridiculously low price allowing for a decent return without gouging.

"I do what I always did. I network to get tenants. I went to all the colleges and medical schools in the area and posted with their housing office. I troll Craig's list. I posted beautiful ads on Craig's List and never failed to answer even the most insipid sounding requests. I sit in the lobby of the building when I have or anticipate a vacancy and when someone comes in to inquire, I get them and show them a unit on the spot. I haven't had an empty day yet.

"I do my due diligence on their information and never bargain. I also use my therapist's personality when I get a student. I help their parents to feel that their kid (especially daughter) is safe with me. And they are - at least to the best of my ability to help them. I even lobbied with the condo association to get better security in this 374 unit property and for the cost of an extra 3 television cameras, make out of town parents feel safe despite the fact that living downtown in any big city has its dangers.

"It is attention to details that has been my forte no matter what business I'm in or what I'm doing in life. I never believed in get rich quick or easy. Making a living is hard work. I don't want to get rich. When I have enough I stop.
I hope this little excursion into philosophy of business helps."