Search Results for: fear
Leading with Resilience: The Evolution of Multifamily Leadership
Photo by Pedro Sanz on Unsplash
Leadership is pivotal. The ever-changing nature of the market, coupled with the unique challenges posed by diverse communities and properties, makes resilience a non-negotiable trait for leaders. But what does resilient leadership truly mean for the multifamily professional?
It’s about the principle of “intelligent error.” At the heart of resilience is the ability to adapt; sometimes, that adaptation comes from learning from our mistakes. An intelligent error isn’t just any mistake—it’s an error that offers invaluable insights. It’s the kind of misstep that, when reflected upon, provides clarity and direction. For multifamily professionals, this could be an unsuccessful team member engagement program, an overlooked maintenance issue, or even a marketing strategy that didn’t hit the mark. But with each of these setbacks, there’s an opportunity to refine, understand, and grow.
With its varied resident demographics and constantly evolving property management practices, the multifamily sector offers numerous occasions for such intelligent errors. Leaders in this space can’t afford to be paralyzed by the fear of making mistakes. Instead, they should embrace them as stepping stones towards greater success. A missed opportunity can highlight gaps in a team member engagement strategy, while a sudden dip in occupancy can emphasize the need for a more robust marketing initiative.
Moreover, in the multifamily, effective communication is paramount. When leaders cultivate a culture where team members aren’t afraid to voice concerns or share new ideas, it sets the stage for innovation. It’s a space with profound potential for intelligent errors to be a consistent source of evolution. For instance, if a new amenity fails to gain traction among residents, it’s not a mere failure; it’s a chance to delve deeper into residents’ needs and preferences.
The growth journey of multifamily leaders is continuous. From understanding the nuances of different communities to staying abreast with technological advancements in property management, there’s always something new to learn, implement, and occasionally get wrong. But this relentless pursuit of excellence, rooted in the embrace of intelligent error, shapes truly resilient leaders.
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Suzanne Hopson | Collective Conversations
Grab a notebook and pen for this episode of Collective Conversations as Mike Brewer sits down with the wise and wonderful Suzanne Hopson, Founder and Principal of Here2Elevate. Find Suzanne on LinkedIn or through her website www.here2elevate.com
This conversation is filled with helpful takeaways to challenge your thinking and elevate your game. Here are just a few great quotes from this episode:
- Execution: “If it’s not repeatable, documented, and measurable, there will always be problems with consistency.”
- Fear: “It is stingy/selfish to hold back what you are thinking.”
- Imposter Syndrome: “If I am experiencing imposter syndrome, then I’m in the right room.”
- Commitment: “It’s not about the equipment. It’s about the commitment.”
- Accountability: “It means I am count-on-able for these deliverables.”
Whether you’re a seasoned investor, property manager, vendor/supplier, or someone interested in learning more about the multifamily market, this series offers valuable insights that can help you navigate the challenges and seize the opportunities in this dynamic industry.
About Mike Brewer – Mike is enthusiastic about people, technology, and the multifamily industry. He serves as President of RADCO Residential and COO of The RADCO Companies. As the Founder of Multifamily Collective, Mike is passionate about sharing insights and wisdom through this series of Collective Conversations with others in this industry. This podcast is a platform for industry professionals to connect, learn, and grow.
We love your feedback, questions, and topic suggestions for future episodes. Reach us via info@multifamilycollective.com or connect with us on LinkedIn, YouTube, and Facebook. Our podcasts and interviews are also available on Apple Podcasts, Spotify, or anywhere you stream your podcasts.
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Disclaimer:
The views and opinions expressed in this podcast are solely those of the individuals involved and do not necessarily reflect the official policy or position of Multifamily Collective or any other organization mentioned during the episode. The podcast is for informational purposes only and should not be considered professional or legal advice. Always consult a qualified professional or your organizational leadership before making strategic, professional, financial, or investment decisions.
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Lisa Russell | Collective Conversations
Episode sponsored by: Updater
Updater is an app that gets residents move-in ready faster. Did you know that residents who are happy with their move-in experience are 59% more likely to renew their lease? Move-ins matter. Get them right with Updater. Visit go.updater.com/mike Updater is offering a special gift for our listeners when you book a demo. The short demo may be the key to improving your customer experience while freeing up time for your front-line teams.
In this episode of Collective Conversations, Mike Brewer fueled up with two cups of fresh French press for this chat with multifamily powerhouse Lisa Russell. Lisa is a 36-year veteran of the property management industry and is a sought-after Consultant and Speaker and sits on the Prop Tech Advisory Board. This long-form interview covers a broad range of topics with just a few key highlights below.
Key Discussion Points:
- AI in Multifamily: The move from traditional prop tech to AI was slow at first and is not moving at the speed of light. Despite many common fears, AI will not immediately remove the need for people in our industry. It is however important for people to constantly seek to better understand AI to create future opportunities for themselves. It is also critical for leaders to upskill and reskill their workforce for the changing needs of our industry.
- Fraud Protection: Where fraud was once seen as a one-off occurrence, it has now moved into a more syndicated affront to the industry. It is important to look for the holes in your systems and take a multifaceted view of all your qualifying criteria. No one system can effectively eliminate fraud. The risk lies in the higher percentage of renters who accessed the property via fraudulent means, is the percentage of occupancy you can lose overnight. They don’t care about credit or rental history or any of it because the application documents were fraudulent to start with. The most important operational indicator for fraud is the number of skips. They should be labeled as skips and the trend tells the story of what is broken in your qualifying systems.
- Leadership: Lisa and Mike dive deep into the self-appraisal and honesty required to be in a leadership position. This part of the conversation is raw, candid, and moving. If you are in a leadership position or are working towards growing your leadership skills, don’t skip past the conversation on leadership.
Whether you’re a seasoned investor, property manager, vendor/supplier, or someone interested in learning more about the multifamily market, this series offers valuable insights that can help you navigate the challenges and seize the opportunities in this dynamic industry.
About Mike Brewer – Mike is enthusiastic about people, technology, and the multifamily industry. He serves as President of RADCO Residential and COO of The RADCO Companies. As the Founder of Multifamily Collective, Mike is passionate about sharing insights and wisdom through this series of Collective Conversations with others in this industry. This podcast is a platform for industry professionals to connect, learn, and grow
We would love your feedback, questions, and topic suggestions for future episodes. Feel free to reach out to us via info@multifamilycollective.com or connect with us on LinkedIn, YouTube, and Facebook. Our podcasts and interviews are also available on Apple Podcasts, Spotify, or anywhere you stream your podcasts.
Subscribe and Share:
If you enjoyed this episode, rate, review, and subscribe to our podcast on [Podcast Platform(s)] and share it with your friends and colleagues.
If you or someone you recommend is interested in learning more about sponsorship opportunities, please contact us.
Please subscribe to our newsletter – The Collective Rundown
Thank you for tuning in and stay tuned for more exciting episodes coming soon!
Disclaimer:
The views and opinions expressed in this podcast are solely those of the individuals involved and do not necessarily reflect the official policy or position of Multifamily Collective or any other organization mentioned during the episode. The podcast is for informational purposes only and should not be considered professional or legal advice. Always consult a qualified professional or your organizational leadership before making strategic, professional, financial, or investment decisions.
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Staying True to Your Roots: The Power of Evolving Beliefs
Photo by Marcos Paulo Prado on Unsplash
The pressure to adapt, evolve, and shift our perspectives is ever-present and ongoing. But how do we maintain our core beliefs and principles amidst these changes? Victor Hugo once wisely noted, “Change your opinions, keep to your principles, change your leaves, keep your roots intact.” This profound statement presents a roadmap for personal evolution without sacrificing authenticity.
Life is dynamic, much like the seasons. Leaves fall, and new ones take their place. Similarly, our opinions, shaped by experiences and new information, may transform over time. But like a sturdy tree, its roots remain deeply embedded while the external changes, providing strength and sustenance.
To truly evolve, one must be open to changing opinions without the fear of losing oneself. It’s okay to change your mind despite what social media or media in general would have you believe. This doesn’t mean being fickle or easily swayed. Instead, it signifies growth, maturity, and a willingness to learn.
However, changing opinions doesn’t mean abandoning foundational principles. If our values are the roots, our opinions are the leaves. While leaves are susceptible to the changing seasons, roots grow deep, drawing nourishment and providing stability. Staying true to one’s principles while navigating the fluctuating landscape of opinions allows for a harmonious balance between growth and stability.
In this age of information and technology overload, where opinions shift with every trending hashtag, it’s more important than ever to differentiate between fleeting opinions and lasting principles. Ask yourself, “Is this a core belief or a current viewpoint?”
The challenge is to let your leaves – your opinions – sway, change, and rejuvenate while your roots – your principles – remain unshaken. Principles like integrity, personal responsibility, and respect for others. This balance allows for meaningful evolution, ensuring we remain grounded, no matter how strong the winds of change.
Embrace this philosophy, and you’ll find clarity amidst confusion, steadfastness amidst uncertainty, and growth amidst challenges. Let your leaves flutter and change, but always keep your roots intact.
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Unleashing Creativity: A Vital Ingredient
Ignite Innovation in Property Management with a Strategic Embrace of Creativity
Photo by No Revisions on Unsplash
Creativity is not just the domain of artists and writers. It’s a vital skill needed in the multifamily. Embracing creative approaches helps solve problems, improve team member engagement resident satisfaction, and drive business success. Let’s discover the importance of creativity and explore some ideas to foster an innovative environment in your organization.
In business, there’s a growing need to stand out, be different, and provide unique value to team members, residents, and stakeholders. The conventional approaches have become too predictable, leading to stalled growth and customer satisfaction stagnation. Leaders and executives face the challenge of reinvigorating their teams, generating new ideas, and embracing unconventional strategies to keep up with the constantly changing market demands. Thank you, Facebook, Amazon, Apple, Netflix, and Apple. 🙂
Encourage an Open Culture: Creating an environment where team members feel free to share their thoughts and ideas without fear of judgment leads to fresh perspectives and innovation. We call this psychological safe space. The benefit is a more engaged team and solutions catered to unique problems.
Invest in Ongoing Education: Facilitating ongoing learning improves skills and sparks creativity. Workshops, seminars, and courses can open minds and foster a culture of continuous growth and innovation. The result is an adaptable, forward-thinking team.
Collaborate Across Departments: Engaging various departments in creative brainstorming allows different viewpoints to converge. This multidiscipline approach leads to more well-thought-out solutions, enhancing both the quality of the properties and the residents’ satisfaction.
Implement a Rewards System for Innovation: Recognizing and rewarding creative efforts motivates team members to think outside the box. It leads to a cycle of positive reinforcement, driving further creativity and unique problem-solving.
Utilize Technology: Leveraging the latest technology allows for streamlined communication, collaboration, and idea generation. It puts all the tools necessary for creative thinking at everyone’s fingertips, resulting in more effective and efficient outcomes.
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