Barclays Black Founder Accelerator 2022 member
A'Lake
A'lake is a Property Developer devoted to creating carefully considered homes that leave people and places better off.
We focus on property development in London and the South East. Our Why is Why Not. The housing crisis is an invisible pandemic that will impact current and future generations if we do not do our part to increase housing supply.We are keen to rise to the challenge in building Net Zero homes in all of our developments. Our view is that sustainability should be everyone’s problem to help solve. Housing makes up a large proportion of carbon emissions and our aim is to create home.
Why did you join the Barclays Black Founder Accelerator?
I joined the programme as I generally like connecting with like-minded, forward-thinking individuals. The idea of learning from experienced industry experts who may have followed entrepreneurial paths was a significant plus for me. The programme allows for my business to the rigorously tested by experts who will provide constructive feedback to ensure the foundation of my business is built on solid rock. Finally, the goal is to scale my business and be a challenger in the housebuilding market, so ideas and suggestions from other industry experts will help me formulate my growth strategy.
Why did you want to start your business?
I started my business straight out of university as I have been clear on what I wanted to be from a young age. Becoming a property developer is all I wanted to do for as far as I can remember. Everything I have done since college, university, becoming a qualified surveyor and working on the most significant housing projects in London has built me up to this point of going forward in wanting to start my business. Real estate is a fundamental part of human existence, and I have always wanted to be part of something meaningful and tangible. Having read countless books on real estate developers, I am enthused by how developers can change lives and communities. Finally, in real estate, I find that developers are on top of the pyramid, so I have always thought, why can't I be on top like the rest of my counterparts and truly transform lives through property development.
What would be your desired outcome from this programme?
My desired outcome will be to receive constructive feedback on how I should approach growing my business. I am keen to understand better the various financial products available to developers and how to raise capital in a compliant manner. I want to come out of this programme equipped with more meaningful contacts, friends with whom we can mutually exchange value and a clearer perspective on the world of private equity and investment for property development.
Which entrepreneur inspires you the most and why?
Reginald Lewis inspires me immensely as he achieved the impossible in a challenging time in American history. I appreciate that he was a black man but did not use this colour as a reason to feel sorry for himself but ensured that he was exceptional in all that he did. Like me, he was a professional who started a business in leveraged buyouts whilst utilising the experience he had built up over his working years. Reginald inspired me to become professionally qualified ( taking the opportunity to thank Sarah Rana, who pushed me to become a qualified surveyor), build up experience and start a business in the same area that I have worked in for many years. Reginald became a very successful leverage buyout specialist in an industry with similar characterises to how project finance is structured and the need to add value and exit from a project to achieve a return. Finally, Reginald made me see that if he can do it, why cant I?
What has been your biggest win in your entrepreneurial journey?
The biggest win in my journey is being a dependable advisor to many on their property development problems. I document my expertise which allows my social contact to utilise my knowledge which in time will result in business opportunities.
What has been your biggest challenge?
My biggest challenge was deciding to leave my well-paid job for an uncertain future as a property developer. As a rational optimist, I am aware of the successes that can be enjoyed but also appreciate that obstacles will come. Leaving the security of a job with two children was tough as failure is not a when considering my responsibilities. Plunging into the unknown was hard, but I soon realised that the only solution to fear is action. In summary, the biggest challenge was betting on myself to get a reward. When I handed in my notice, it was the first step in me believing in my ability to grow a sustainable property development business. The biggest challenges are generally in our minds until we take action, and then those challenges become mere obstacles that need to be jumped over.
Where did you go for business advice and how did it help you?
I have several property developers as friends I speak to about the challenges and opportunities they face. They give me an objective perspective on what it takes to succeed in property development. I also read many business books to get an objective look at what the experts say. In addition, my mechanical tendencies mean I may go onto companies' house to see how other property developers structure their companies so that I can follow a similar path when the time is right. Generally, I have contacts in the critical areas of property development: builders, development finance brokers, land agents, solicitors, property developers, consultants and investors. Having access to these professionals allows me to see the world through their lens, giving me a greater perspective when looking at ways to make my business better than the rest.
What drives you to make your business a success?
My family are my great driving force as I pray that allows them to make their dreams come true. I have always thought I would lift the bricks, so my children do not have to. This is a figurative statement which means, if I can give my children a good foundation, they can grow to become whatever they want and perhaps have more opportunities than I had whilst they are young. Another driving factor is that I believe everyone has a group of people to inspire/ influence for good. Building a successful business will allow someone similar to me in my younger years to see what my company is doing and aspire to be the next property developer to make a change. Finally, I am driven by seeing site hoardings with developers' logos, imaging that one day my logo will be dotted around London, the south and the world at large. I find that day dreaming sets a framework, action makes that framework a structure whilst tenacity and determination will turn dreams in real things. More than anything, my childhood dreams drive me to see my buisness become a success.
What advice would you give other founders thinking about starting their own business?
Believe in yourself more than the investor you want to invest in your business. If you cannot bet on yourself, why should anyone else take a chance on you? Feel the fear and do it anyway.