Scaling Up Keystone

Location, Location, Location – real estate types know this aphorism better than most. It’s the key to any good transaction. Always buy property with your exit strategy in mind and location for certain is part of that thought process. But don’t forget about the equally if not more important piece of the equation.

People People People

As Mills Properties journeys down the road of Scaling Up; we are becoming more and more aware of having the right people in the right positions doing the right things. Not unlike purchasing property with the end in mind; it’s critical to hire and train the right people. Also, with a distant time in mind.

Hire For Attitude

A number of years ago – too many to count – I had the awesome pleasure of working for Equity Residential Properties. A company and people I will forever hold in esteem. They have a real penchant for hiring right. Their mantra at the time, hire for attitude and train for skill, governed the overall sourcing and hiring process. It worked.

Hire For Character

But I think hiring for character is a much more powerful governor than attitude. While attitude covers a person’s way of behaving; I think it’s easily rocked and completely open to the winds of change. Not a bad thing; just a bit less stable for what I believe is a keystone to business success. Whereas character is a much deeper sense of self as governed by a solid moral center; it is less affected by the downsides of adversity and the upsides of awesomeness.

Scaling Up

The keystone message: hire for character, train for character and coach out for lack of character.

Your looking forward to scaling up multifamily maniac,

M