Empowerment
The Transformative Power of Courage in Multifamily Real Estate Leadership
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Photo by Michael Dziedzic on Unsplash
Today, we’re exploring a dimension that often goes unexamined but could fundamentally change how you think about leadership, innovation, and strategy in our space. That dimension is courage.
The Game-Changing Essence of Courage in Multifamily
Being courageous is not just a grand ideal; it’s a pragmatic tool with the potential to reshape your approach to risk, innovation, and leadership. At its core, courage is less about the absence of fear and more about mastery. Consider courage as a catalyst, transforming base elements into a formula for success in a challenging landscape.
Courage as the Quantum Leap for Innovation
Daring often serves as the petri dish where innovation cultures. It’s not merely about entertaining a radical idea; it’s about daring to implement it. This is where many of us get stuck. We often ask ourselves, how do you set your firm apart? Courage propels you to use technology for the answer by adopting existing solutions and pioneering new ones. The multifamily space is fertile ground for disruptive technologies, from blockchain-based to IoT to AI-driven property management systems.
Courage: The Foundation for Human-Centric Leadership
Analytics, spreadsheets, and revenue cycles have long driven the multifamily industry. Yet, here lies an opportunity for a transformative shift. It allows you to embrace human-centric leadership, a philosophy that places people—individual residents or team members—at the center of all strategies. By openly acknowledging your vulnerabilities and those around you, you foster a culture that transcends mere efficiency metrics. You elevate it into a hub of creativity and individual empowerment. In doing so, you tap into a wellspring of collective intelligence and creativity, enriching your firm and the entire industry.
The Audacity of Decision-Making
If this is the catalyst for innovation and the bedrock of human-centric leadership, it’s also the lens through which you can assess long-term project viability. Whether it’s a question of resource allocation, vetting partnerships, or reevaluating long-standing partnerships, strength in this area is your guide. It provides the fortitude to make tough decisions that might initially disturb the equilibrium but will ultimately pave the way for groundbreaking opportunities.
Time for Game-Changing Action
You’re now armed with a transformative perspective; the next step is action. I challenge you to infuse your next strategy session or project with fortitude. Get it!
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Empowerment: Medium for Engagement
Did you know that Ritz-Carlton gives each and every one of their ladies and gentlemen (every Ritz-Carlton employee is referred to as a lady or a gentleman) up to $2,000 per guest per day to satisfy any flaw in their service. Disney gives their cast members (every Disney employee is referred to as a cast member) nearly free reign to satisfy their guests. No permission is needed, they just do what is necessary to satisfy the situation.
Each organization spends a great deal of time and resource training for such circumstances, drawing from a wealthy archive of examples. So, it would suffice to say there are built in governors to giving employees that kind of power. Each organization would suggest the power to satisfy is rarely abused and often times has brought about very creative thinking. The bottom line is that it works. It works in the way of empowerment which leads to engaged employees and amazing experiences for guests. And, those experiences create stories that are repeated over and over and over again.
What are you doing to empower your employees to satisfy vendors, prospects and residents?
Empowerment, Employee Engagement