michael porter
Multifamily Purpose
What is the purpose of your Property Management Company?
Is it driven by profits?
Top line growth?
Y/Y rental income growth?
Y/Y NOI growth?
Cash flow?
Purpose Larger than Self
Multifamily people get inspired when they know they are working for something larger than self. And believe it or not; it’s not all about the bottom line. No, it’s about much more than economics.
It’s About Service
I am fully convinced that business sets in place to serve the people who serve it. And companies that understand that will prosper in the coming business cycle.
Michael Porter suggests as much in the quote above. Not sure how he defines societal purpose but I look at it two-fold:
1. Business serves each person that serves it; the role of business is to build people of character;
2. Character results from businesses manufacturing quest(s). The business also supports the quest. And, carrying out the quest(s) results in the building up of character
The purpose is to change the world; the world is people. Give people the chance to grow and change and the world will change.
Your thinking more deeply about purpose Multifamily Maniac,
M
Choosing Not To Do
“The essence of strategy is choosing what not to do.” – Michael Porter
You may want to read and reread that last line a couple of times. [It’s okay – I’ll wait…..]
I think for many of us, me included, it’s usually more along the lines of what do we do next? What is the next thing to tweet? What is the next platform to try? What is the next marketing idea stone that needs to be turned over? How do we differentiate? How do we compete?
All good questions and likely good stimulates for conversation. But, what we leave out is equally if not more advantageous in forming an effective strategy.
What are you choosing not to do this year?
Related material: Two Lists You Should Look at Every Morning
