Traditional property management is dead.
Embrace intrapreneurship or become obsolete.
By 2025, Millennials will comprise 75% of the workforce, with 70% aspiring to be entrepreneurs.
This isn’t a trend; it’s a seismic shift.
Senior executives must recognize that the future of multifamily property management hinges on harnessing this entrepreneurial spirit within their organizations.
Intrapreneurship—cultivating entrepreneurial ventures within a company—is a necessity.
By establishing internal incubators, businesses can advance innovation, allowing team members to develop new services or technologies that can be spun into profitable entities.
This approach is not a novel concept.
It satisfies millennials’ entrepreneurial drive and creates new revenue streams.
Consider this: if your organization doesn’t provide these opportunities, your top talent will seek them elsewhere, possibly becoming your competition.
The cost of inaction is far greater than the investment in fostering an intrapreneurial culture.
Intrapreneurship isn’t a luxury; it’s the lifeblood of future-focused property management.
The call to action is clear: integrate intrapreneurial initiatives into your strategic plan.
Empower your team to innovate from within.
The alternative?
Stagnation and decline.
The choice is yours.