Jon Paul Pérez had every expectation to join his father’s successful real estate firm, Related Group, upon graduating from college. Having spent his formative years immersed in the family business, it seemed a natural transition. However, his father, Jorge Pérez, famously known as Miami’s “condo king,” had different plans. At a celebratory dinner after Jon Paul’s graduation, Jorge surprised him by stating, “You’re not going to work for me.”

This pivotal moment set Jon Paul on a path of rigorous preparation and personal development before eventually stepping into a leadership role within the company.

The Importance of Passion in Business

Understanding the dynamics of family businesses is crucial, especially regarding succession planning. Jorge Pérez emphasized the need for his children to cultivate their own interests rather than simply follow in his footsteps. This philosophy led him to take Jon Paul and his brother Nicholas to the office even on weekends after their sports events, nurturing their curiosity about real estate.

“I told them … just because I’ve been successful in real estate, don’t pick something you don’t have a passion for,” Jorge stated. This approach allowed Jon Paul to develop a genuine enthusiasm for real estate, recognizing it as a lifelong career pathway.

Similarly, Nicholas discovered his interest in real estate as he moved away from aspirations of becoming a tennis player, drawn by the creative aspects of property development.

Proving One’s Worth

To ensure his children earned their positions based on merit, Jorge implemented a standard requiring them to secure master’s degrees from prestigious business schools and gain work experience in the competitive New York real estate market before joining Related Group. Jon Paul adhered to this rule, working rigorously for five years at Related Companies in New York.

“You were either going to sink or swim,” Jon Paul reflected on his experience. Post-graduation, he returned to Florida, beginning in the rental division instead of an immediate promotion within the more glamorous condo sector. This decision underscored a critical lesson: hard work and perseverance are essential for proving one’s capabilities in a family business environment.

Values Beyond Profits

As Jon Paul took up the leadership role, it became clear that Jorge’s influence extended beyond operational skills; he emphasized the importance of values in maintaining the company’s integrity. “You have one reputation,” Jon Paul noted, echoing his father’s commitment to ethical business practices.

Through his teachings, Jorge ensured that the next generation understood the significance of a strong moral foundation. Nicholas echoed this sentiment, highlighting that hard work remains non-negotiable in a competitive industry. “Nothing replaces hard work,” he remarked, underscoring the fierce competition within the real estate landscape.