Episode 93 - Richard Servidei and Matt Neal Co-Founders of AREA

This evening, I am joined by not one but two guests: Matthew Neal and Richard Servidei founders of Alternative Real Estate Advisors (AREA). A leading independent firm of commercial real estate advisors specialising in the alternative property sectors.

You can join in the discussion using our LinkedIn group: https://www.linkedin.com/groups/9054319/

Please keep your questions and voicenotes coming. It is best to contact me on LinkedIn.

Key takeaways from the combined conversation between Nick Carman, Matthew Neal, and Richard Servidei:

1.    Origins of Entrepreneurship: Matthew Neal was content working for a salary until Richard pitched the idea of working together. Richard, on the other hand, developed a passion for entrepreneurship in his mid-thirties when he realized his love for his job and the desire to create a business that implemented positive practices.

2.    Founding AREA: AREA was conceived when Richard seized the opportunity at a mutual friend's wedding to pitch the idea to Matthew's wife about their partnership potential. Matthew was attracted to the prospect of providing more nuanced, bespoke advice rather than just standard market data.

3.    Realities of Entrepreneurship: Running AREA proved to be challenging and demanded versatility. They faced unexpected tasks like HR, finance, and even menial tasks like fetching milk for the office. They found themselves wearing multiple hats and learned to navigate the uncertainties that come with running a business.

4.    Emphasis on People and Culture: The founders emphasized the importance of their team and nurturing a positive workplace culture. They believed that a thriving team translates to a successful business. They fostered an environment where people wanted to come into the office, focusing on collective success rather than treating employees as cogs in a machine.

5.    Challenges and Future Outlook: AREA has established itself as a provider of high-quality advice but aims to expand its expertise across various alternative sectors. They seek to become known as the best across all alternative sector workstreams. Richard looks forward to the opportunities that will arise and sees value in being adaptable to new ideas that push the business forward.

6.    Continuous Evolution: Both founders embrace the unknown and anticipate that challenges will arise. They value the ability to adapt and evolve, believing that each challenge brings new opportunities for growth and development.

7.    Success in Independence: The journey of two individuals who had the idea of entrepreneurship and transformed it into a successful venture intrigued the audience, highlighting the significance of individual initiatives and success stories.

Overall, the conversation showcased the challenges, triumphs, and ongoing aspirations of the founders in creating and developing AREA, emphasizing adaptability, teamwork, and a forward-thinking approach to succeed in the world of entrepreneurship. 

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