Photo by Ian Schneider on Unsplash
Imagine you signed up for a class or training session. You and your classmates gather at the appointed time and without so much as an introduction, the instruction begins to lead you on a walk. You don’t know where you are going or anything about the person at the front of the pack. Over the course of the trip, your sense of safety erodes. What is the point of all this? Do I trust that this is for my betterment? Or should I abandon the whole thing at my first opportunity?
When building a successful company, there are three key things to focus on: mission, purpose, and the creation of trust. Without them, your team is wandering in the woods hoping for some direction that aligns with these three concepts.
First and foremost, a company must have a clear mission statement outlining its purpose and goals. Your mission should guide all decision-making and operations. The mission statement becomes a competitive advantage when fully integrated throughout your organization. A vital mission will also attract like-minded clients and team members who share the company’s values and vision.
In addition to having a clear mission, your company should also have a clear sense of purpose that drives its actions and decisions. For example, in the property management world, this could include providing high-quality housing for residents, delivering top-tier amenitized resident services, contributing to the local community, or promoting sustainable living practices. Having a clear purpose will help the company stay focused and motivated and make it easier to attract and retain clients and team members who share similar values.
Finally, building trust with clients, residents, and team members is crucial for the success of a management company. This can be achieved through consistent and transparent communication, anticipatory and responsive customer service, and a commitment to upholding high ethical standards. By consistently delivering on its promises and meeting the needs of its constituents, any company can build a reputation for reliability and credibility, which will help it attract and retain long-term clients and team members.
Overall, focusing on mission, purpose, and the creation of trust is essential for building a successful company. By prioritizing these key areas, you can establish a strong foundation for growth and success in your industry.
About Mike Brewer
My mission is to tease out the human potential in the multifamily space.