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Business Advise Stephen Bittel

40 Years of Business, 40 Years’ Worth of Advice

THRIVE GLOBAL — AUGUST 10, 2020 During my sophomore year at University of Miami School Of Law, I founded Terranova Corporation as the vehicle to operate a commercial property for a local partnership. Since the company’s 1980 inception, Terranova has become a leader in the Florida commercial real estate market. By maximizing the value of business through real estate, I was able to establish trust, forge professional relationships, and leverage profit for tenants on a long-term basis. This was the founding principle of Terranova Corporation, and a personal mission statement that propelled my leadership. 

Now, the company’s commercial real estate portfolio holds in excess of $1 billion dollars in assets, and Terranova was proudly the agent for over $5 billion dollars in commercial real estate throughout Florida. As I celebrate the 40th anniversary of Terranova Corporation, I find myself immersed in the lessons that I have learned, the skills that I have perfected, and the professional decisions that led to ongoing growth. Each year of business brought forth new challenges, changes, and opportunities, and allowed me to grow alongside my business. Below, I recount the most notable lessons throughout my venture, and lend advice to any fledgling entrepreneur or business owner.

Know What You Stand For

Both personally and professionally, your company’s mission statement will be your guiding principle. Through inception and beyond, you will find those goals and incentives tested, and you will garner opportunities to stray from the plans you initially forged. Thus, it is vastly important to iron out the most important mission statements for your business. Whether your goals include maximizing earning potential for clients, maintaining highly ethical practices in the face of challenging times, or establishing long-term professional relationships, solidifying these guiding principles will help to keep you on the right path in the future.