excellence
Unlocking Greatness in Multifamily Property Management
The Balance Between Achieving Great Results and Striving for Perfection in Managing Multifamily Properties
Photo by Clark Tibbs on Unsplash
There lies a middle ground in the struggle between perfectionism and achieving great results. While the desire to attain perfection is commendable, it can impede growth and success. Here I attempt to explore the problems perfectionism can create within the multifamily executive sphere and provide practical solutions to balance excellence and perfection. By focusing on the essence of being great rather than perfect, management can drive success and create a harmonious living environment for Residents.
Perfectionism in multifamily property management leadership is a double-edged sword. On one side, it drives quality and attention to detail; on the other, it can lead to stagnation, burnout of team members, and a lack of adaptability. When the pursuit of perfection overshadows practical goals, it may result in missed opportunities, delays in decision-making, and a loss of focus on what truly matters for Residents and the business as a whole.
The first step to overcoming perfectionism is recognizing its impact and embracing the mantra, “Don’t let perfect be the enemy of great.” Leaders must foster a culture where team members feel empowered to make decisions without fearing failure. Encouraging experimentation and learning from mistakes can drive innovation and growth.
A strong focus on Resident satisfaction and building trust within the community can replace the obsession with perfection. By prioritizing team members’ and residents’ needs and feedback, multifamily executives can make informed and pragmatic decisions that enhance the living experience.
Investing in continuous training and professional development for team members also promotes a culture of excellence without demanding perfection. Leaders can create a cohesive team that works towards shared goals by providing the tools and support necessary for growth.
Lastly, embracing flexibility and adaptability in management practices allows for a more dynamic response to changing circumstances. By adopting a pragmatic and solution-oriented approach, multifamily executives can lead their teams to success without bogging down in pursuing the unattainable ideal of perfection.
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Striving for Excellence in Multifamily: The Impact of Small Actions
Unlocking Success in Multifamily Housing Through an Emphasis on Detail
Photo by Sven Mieke on Unsplash
In the multifamily space, focusing on grand strategies, big projects, and extensive renovations is common. However, the truly successful leaders in this space know the value of also paying attention to the ‘small stuff.’ Every interaction with a resident, maintenance task, and line item in a budget are all opportunities to strive for excellence. By fostering a culture where every detail matters, property management executives can create a thriving community for Residents and a fulfilling workplace for their team members.
One of the challenges that multifamily property management executives face is balancing the need for larger-scale improvements with the consistent delivery of high-quality daily operations. It’s easy to be swept away by the allure of significant renovation projects or brand-new amenities. However, this can lead to overlooking the more minor aspects of property management, which form the backbone of the resident experience. As a result, Residents may feel unimportant, and team members may feel unappreciated, which can cause morale to plummet and decrease the property’s overall appeal.
One solution is to promote a ‘sweat-the-small-stuff’ mentality among your team members. This means emphasizing the importance of every task, regardless of its size, and recognizing those who excel in their roles, however seemingly minor they may be. By doing this, you motivate your team members to perform at their best and enhance the resident experience.
A ‘small-stuff’ approach also improves the operational efficiency of your properties. By paying attention to the details, you can spot potential problems before they escalate, saving time and resources in the long run.
Moreover, fostering a culture of excellence where every detail matters can help build a stronger sense of community among your Residents. When their concerns are heard and addressed promptly, residents feel more satisfied and engaged with their community. This leads to increased resident retention, a vital factor in the profitability and success of multifamily properties.
Lastly, focusing on the ‘small stuff’ can help distinguish your properties from competitors. Going above and beyond in all areas, not just the most obvious ones, creates a unique resident experience that sets your properties apart.
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Memorable and Remarkable Branding and Marketing: Using the Three Tenets of Engaging, Endearing, and Enduring, Illustrated by Iconic Brands
Photo by Patrik Michalicka on Unsplash
The business world is competitive and dynamic, and businesses must invest in their branding and marketing strategies to remain relevant. Branding and marketing are critical to a business’s success, as they significantly shape customers’ perceptions of the brand. Memorable and remarkable branding and marketing campaigns leave a lasting impression on customers and create a positive emotional connection between the brand and its audience.
In this post, we will explore the three key tenets of memorable and remarkable branding and marketing – engaging, endearing, and enduring – and use examples from iconic brands to illustrate their effectiveness.
Engaging:
Engaging is the first of the three key tenets of memorable and remarkable branding and marketing. Engaging marketing campaigns aim to capture customers’ attention, spark their interest, and encourage them to take action. Engaging campaigns connect the brand and its audience, leaving a lasting impression that drives customer loyalty and brand recognition. Several examples of iconic brands have successfully engaged their audiences through creative and innovative marketing strategies.
Apple:
Apple is one of the most successful brands globally, and it owes much of its success to its engaging marketing campaigns. Apple’s marketing strategy has always been centered around creating an emotional connection with its customers. The company’s famous “Think Different” campaign, launched in 1997, is an excellent example of engaging marketing. The campaign featured some of the most influential and creative people of the time, such as John Lennon, Albert Einstein, and Mahatma Gandhi, and urged people to think outside the box. By associating its brand with these influential figures, Apple created a connection with its audience and positioned itself as an innovative and customer-centric brand.
Nike:
Nike is another brand successfully engaging its audience through creative marketing campaigns. Nike’s “Just Do It” campaign, launched in 1988, is one of history’s most iconic marketing campaigns. The campaign featured various athletes and urged people to push their limits and achieve their goals. The campaign’s “Just Do It” tagline has become synonymous with Nike and is widely recognized worldwide. Through this campaign, Nike connected with its target audience, inspiring them to take action and strive for excellence.
Endearing:
Endearing is the second of the three key tenets of memorable and remarkable branding and marketing. Endearing marketing campaigns aim to create a positive emotional connection between the brand and its customers. These campaigns are designed to evoke joy, happiness, and warmth and make customers feel good about themselves and the brand. Many iconic brands have successfully created endearing marketing campaigns that have resonated with their customers and helped to build a loyal customer base.
Coca-Cola:
Coca-Cola is a brand that has successfully created endearing marketing campaigns that have stood the test of time. Coca-Cola’s “Holidays Are Coming” campaign, launched in 1995, is one of the most iconic Christmas campaigns ever. The campaign featured the famous Coca-Cola Christmas truck driving through snowy landscapes, bringing joy and happiness to everyone who saw it. The campaign’s catchy jingle, “Holidays are Coming,” has become synonymous with Christmas, and the image of the Coca-Cola truck has become an iconic symbol of the holiday season. Through this campaign, Coca-Cola created a positive emotional connection with its customers, associating its brand with joy, happiness, and the spirit of Christmas.
Disney:
Disney is another brand that has successfully created endearing marketing campaigns that have captured the hearts of its customers. Disney’s “Share Your Ears” campaign, launched in 2018, is an excellent example of an endearing marketing campaign. The campaign featured people sharing pictures of themselves wearing Mickey Mouse ears and urged people to share their ears to support children with critical illnesses. For every share, Disney donated $5 to the Make-A-Wish Foundation, a charity that grants wishes to children with critical illnesses. Through this campaign, Disney created a positive emotional connection with its customers, associating its brand with kindness, generosity, and the spirit of giving.
Enduring:
Enduring is the third of the three key tenets of memorable and remarkable branding and marketing. Enduring marketing campaigns aim to create a lasting impression on customers that stays with them long after the campaign is over. These campaigns build brand recognition and customer loyalty, creating a strong and lasting relationship between the brand and its customers. Many iconic brands have successfully created enduring marketing campaigns that have stood the test of time and continue to resonate with customers today.
McDonald’s:
McDonald’s is a brand that has successfully created enduring marketing campaigns that have become part of popular culture. One of the most enduring McDonald’s campaigns is the “I’m Lovin’ It” campaign, launched in 2003. The campaign featured a catchy jingle that became synonymous with McDonald’s and was used in all of the brand’s advertising campaigns. The “I’m Lovin’ It” campaign was so successful that it is still used by McDonald’s today, almost 20 years later. Through this campaign, McDonald’s created a lasting impression on its customers, associating its brand with fun, happiness, and good times.
Apple:
Apple has successfully created enduring marketing campaigns that have become part of popular culture. One of the most enduring Apple campaigns is the “Get a Mac” campaign, launched in 2006. The campaign featured two characters, a Mac and a PC, and highlighted the superiority of the Mac over the PC. The campaign was highly successful and ran for several years, cementing Apple’s position as a leader in the tech industry. Through this campaign, Apple created a lasting impression on its customers, associating its brand with innovation, quality, and superiority.
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Excellence
Photo by Rodion Kutsaiev on Unsplash
A renowned business management expert and author, Tom Peters once said, “There is no business excellence without community excellence. Think deeply about this.” This quote highlights the importance of considering a business’s impact on its community and the world.
In today’s society, consumers are increasingly aware of the values and practices of the companies they support. They want to know that their money is going towards businesses that provide high-quality products or services and care about the well-being of their employees and the community.
For a business to achieve excellence, it must excel in its industry and strive to be a positive force in its community. This means treating employees with respect and fairness, engaging in responsible business practices, and being a good neighbor by giving back to the community through charitable initiatives or supporting local causes.
In addition to the moral benefits of being a socially responsible business, there are practical advantages. A strong reputation in the community can lead to increased customer loyalty, attracting top talent to the company, and even driving innovation by understanding and addressing the local community’s needs.
Ultimately, business excellence and community excellence go hand in hand. By considering a business’s impact on its community, companies can do good and set themselves up for long-term success. So let’s all take Tom Peters’ words to heart and strive for business and community excellence.
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Excellence in Multifamily
I write about excellence from time to time on this blog. Not so much as to wear out the term but enough to remind you that excellence is something to strive for in the multifamily space. And in your life.
Now let me clarify, I think excellence is near impossible to actually meet. At least if we take a strict interpretation of the word.
The reality is that striving for excellence is where it’s at. Always pushing. Always looking for ways to improve. More efficient. More caring. More awesome. More compelling. More #gameon
Excellence as a Way of Life
Striving for excellence is what makes you stand out when compared to the next guy/gal. By way of example; striving for excellence is the guy/gal that takes my post from yesterday and runs with it.
It’s that leasing consultant, assistant manager, maintenance tech or porter that gets ‘sick and tired of being sick and tired.’ They let out the proverbial – f-this; I want a better set of circumstances to come my way.
They build a hockey stick angle of awesomeness right at the end of the rut they dug for themselves and proclaim: #gamethe-f-on. It’s #timetoshine. #theworldwillknowmyname
Realization
You know what they realize in that moment? They realize that motivation is an inside job. It’s not the boss that rocks them into action. It’s not mum, dad, auntie or grandma. It’s THEM.
They realize – if I’m going to get ahead in the multifamily world; I have to strive for excellence. I have to give mediocrity a root canal and replace it with a gang of platinum plated strive for excellence.
Simple Call to Action (CTA)
It’s time to shine – get off your butt and #rocktheworld
Your #gameon Multifamily Maniac,
M