Leadership
The Power of a Fresh Perspective
Photo by Karsten Winegeart on Unsplash
As a business leader, it’s easy to get caught up in the day-to-day operations of running a company. We focus on hitting targets, meeting deadlines, and ensuring everything run smoothly. And we shut people down by not keeping an open mind.
But what happens when things aren’t going as planned?
This is when a fresh perspective can be invaluable. A new point of view can help you see things in a different light and give you the insight you need to make important decisions. Using phrases like “tell me more” or “huh, I hadn’t thought about it that way” keeps the discussion open and moving.
Talk to your team members, prospects, residents, vendor partners, and competitors. Ask them for their thoughts on your business and how it could be improved. You may be surprised by what you learn.
Another way to gain a fresh perspective is to step back and take a look at the bigger picture. Instead of getting caught up in the details, try to see the forest for the trees. Ask yourself what the long-term goals of your business are and how you can work towards them. What is the why of our business? Why do we exist?
Finally, don’t be afraid to challenge your assumptions. Or kill the sacred cows. We all have a tendency to hold on to certain beliefs, even when they’re no longer true.
Be open to new ideas and be willing to change your mind.
“Huh, I hadn’t thought about it that way” is a phrase you should remember as a business leader. It’s a reminder to be open to new ideas and always look for ways to improve your business. You can navigate the most demanding challenges and achieve your long-term goals with a fresh perspective.
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Leadership 101
A book you should get and read over and over again.
The Little Prince
The Little Prince is a timeless classic written by Antoine de Saint-Exupéry. It is a charming and thought-provoking novella that explores themes of loneliness, friendship, love, and the meaning of life. The book is written in a simple yet poetic style that appeals to children and adults.
The story follows the journey of a young prince who travels from planet to planet, meeting various characters and learning valuable lessons about the world and its people. The prince’s experiences are fantastical and relatable, and his reflections on life are insightful and wise.
One of the book’s strengths is its ability to convey profound truths about the human condition in a way that is accessible and enjoyable for readers of all ages. The illustrations, created by the author himself, add to the story’s charm and help bring the prince’s journey to life.
In short, The Little Prince is a beautiful and captivating book that will stay with readers long after finishing it.
It is a must-read for anyone who loves a good story and is searching for a deeper understanding of the world and their place in it.
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He Who Dies…
Photo by Aron Visuals on Unsplash
The age-old adage, “he who dies with the most toys wins,” was popularized by the business and finance world. The idea behind this quote is that accumulating wealth and possessions is the ultimate measure of success. However, there is another perspective on this idea that challenges this notion.
Arthur Brooks, a former president of the American Enterprise Institute, offers a different perspective on this quote. He says, “he who dies with the most toys dies.” This statement suggests that pursuing material wealth and possessions is ultimately futile and that true happiness and fulfillment cannot be found in material possessions.
In business, getting caught up in the rat race of accumulating wealth and possessions is easy. We are constantly bombarded with messages telling us we must have the latest gadgets, cars, and designer clothes to succeed.
But is this really what success is all about?
The truth is that true success is not about accumulating material wealth and possessions. It is about finding happiness and fulfillment in one’s life. It is about creating meaningful relationships, positively impacting the world, and living purposefully.
In business, it is important to remember that pursuing material wealth and possessions is not the ultimate goal. Instead, we should focus on creating value for our customers, building strong relationships with our employees and partners, and positively impacting the world.
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“Anticipating Failure: The Power of Premortem in Innovation”
Photo by Campaign Creators on Unsplash
When it comes to innovation, failure is an inevitability. But what if there was a way to anticipate and prevent failures before they happen? Enter the premortem.
A premortem is a technique that involves imagining that a project has failed and then working backward to identify the reasons why. This approach, popularized by Google X, the tech giant’s experimental arm, is designed to identify potential risks and roadblocks before they become an issue.
The process begins by having a team of experts and stakeholders come together to imagine that a project has failed. They then brainstorm a list of potential reasons for the project’s failure, including technical challenges and organizational roadblocks.
Once the team has identified potential risks, they can take steps to mitigate or eliminate them. For example, if a premortem revealed that a lack of resources was a potential roadblock, the team could work to secure additional funding or find ways to work more efficiently.
The premortem process is especially valuable for high-risk, high-reward projects. Google X’s projects, for example, are known for being ambitious and cutting-edge, and a premortem provides a way to anticipate and prevent potential failures before they happen.
Google X’s premortem process is one of the key reasons for its success in developing disruptive technology such as Google Glass, Google self-driving cars, and Google Loon. By anticipating and preventing potential failures, Google X can focus on what’s important and avoid wasting time and resources on projects that are unlikely to succeed.
A premortem process is a powerful tool for a multifamily organization looking to innovate. It is especially important in an era where many solutions are chasing too few problems.
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Adaptive AI
Photo by DeepMind on Unsplash
The advent of adaptive AI is set to revolutionize the way we approach multifamily property management. With the ability to adapt and improve performance over time, these systems can help property managers to streamline processes, increase efficiency, and make more informed decisions.
One of the key areas where adaptive AI can have a significant impact is the area of tenant screening. Traditional tenant screening methods can be time-consuming and involve manual work, such as checking references and credit reports. Adaptive AI systems, on the other hand, can use machine learning algorithms to analyze data from various sources, such as social media profiles and online behavior, to create a more comprehensive profile of a potential resident – a renter’s resume. This can help property managers make more informed decisions while considering fair housing laws about who to rent to and can also help reduce the risk of rent defaults.
Another area where adaptive AI can have a big impact is in the area of maintenance and repairs. Traditional property management systems often rely on manual processes, such as phone calls and emails, to schedule and track maintenance and repairs. Adaptive AI systems, however, can use machine learning algorithms informed by IoT sensors to predict when equipment is likely to fail and can automatically schedule maintenance and repairs based on this prediction. This can help to reduce downtime and save money on repairs in the long run.
Using adaptive AI in multifamily can significantly improve property management systems and labor efficiency and effectiveness. With the ability to adapt and improve over time, these systems can help property managers to make more informed decisions, reduce costs, and provide a better experience for team members and residents.
However, it’s also important to note that with the increasing use of adaptive AI, there is a need to be thoughtful and mindful and have proper data privacy and security measures in place to protect the data of prospects, residents, and property managers.
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