It is the third anniversary of Britain’s referendum on its membership of the EU and yet we are no closer to knowing what Brexit really means.
Furthermore, with the date of Britain’s departure already rescheduled at least twice at the time of writing, the resignation of Theresa May and the final decision on her replacement still a way off, we may not discover this for some time yet.
In the period leading up to and following the referendum, there was a lot of speculation about what might happen to the real estate investment markets in the UK and Europe.
Would transactions cease overnight and liquidity simply evaporate? Should activity be put on hold until we have a clear outcome of what the vote means?
The world cannot stop just because conditions do not seem favourable
The answer to this is, of course, no. The world cannot stop just because conditions do not seem favourable.
It is certainly true that the market has changed since 2016, and there have been both challenges and opportunities in the wake of the geopolitical uncertainty that has dominated headlines in recent years.
This means developing an ability to overcome obstacles and retain a sense of what you want to achieve has become all the more crucial.
Whether it was financially putting myself through college by starting a computer business, bending the truth on my age to secure my first professional role or walking away from a lucrative job offer 20 years ago to start Patron Capital with nothing more than a plan and a vision of how we could raise money and make good investments, my life has been defined by navigating challenges.
The lessons I have learned on a personal and professional level have been invaluable. With a growth mindset, even the greatest adversity can transform a seemingly insurmountable obstacle into a scalable challenge.
This is something we at Patron hear about regularly through the Greatness Lectures, a series of events that have become a forum for people who have overcome adversity to educate and inspire the Patron team, our friends and partners.
Speakers have included Mark Ormrod, a retired marine and the first British triple amputee returned from war in Afghanistan, who spoke about his rehabilitation and his life today, and Sir Paul Grant, who discussed how he turned around the Robert Clark School in Dagenham to be designated ‘Outstanding’.
We also take on and support major charity challenges. Recently, we were the headline sponsor of the inaugural Veteran Games in Israel, which brought together 100 Israeli and UK injured veterans along with 43 partners and 39 children, from the British contingent alone, to celebrate the dual roles of sports and family in physical, mental and emotional rehabilitation.
I believe that fostering a corporate culture that enables individuals to build relationships outside their normal sphere, push themselves and understand risk is essential to a successful business.
Ultimately, it is this attitude that has been a cornerstone of our success over the past 19 years. Delivering strong returns for our investors across all cycles requires creativity, diligence and an ability to find the opportunity and value in a challenging environment.
As the market continues to change, the lessons we have learnt from past obstacles will be crucial. We cannot change the economic or political climate, but we can take the lessons of resilience and experience with us as we work in this current uncertainty.
Keith Breslauer is managing director of Patron Capital
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