Reality Doesn't Bite
If you noticed our "Real Life" column missing from last month's issue, it's because the subject of the column-Scott Duffy of Self Storage Capital Group (SSCG) in Santa Monica, California-has been doing what entrepreneurs do best: making business happen.
The year isn't over, yet SSCG has already acquired the rights to purchase its first two properties-opting to sell those rights-and has three new development projects in the works. Duffy is proud to share that SSCG has already exceeded its annual goals only halfway into 2004, has earned back its startup costs, and is operating in the black in its first year.
With business heating up, Duffy's time is stretched thin, so he can't check in with Entrepreneur every month anymore. In fact, he's busy racking up frequent-flier miles to and from Hawaii, where the first two properties are located.
Not one to rest on his laurels, he'll remain alert when it comes to keeping ahead during interesting times. "The business is changing, and I must work even harder to stay ahead of these changes," says Duffy, 34. "Real estate prices are so high that most deals do not make sense. As a result, we are re-evaluating certain aspects of the market and planning our next moves."