Multifamily leadership
The Struggle is the Point
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Getting caught up in the pursuit of growth and success can be easy in business. We all want to achieve more and take our companies to new heights, but it’s important to remember that the things that got us where we are should not be forgotten along the way. Struggle is necessary.
Will Guidara, of the acclaimed New York City restaurants Eleven Madison Park and The NoMad, perfectly sums up this sentiment with his quote, “As you grow, you can’t lose the very thing that gave you the opportunity to grow.”
The Struggle
What does this mean exactly? It means that as we strive to achieve more, we should not lose sight of the values, principles, and practices that have brought us success. These are the foundations upon which our growth and success are built, and we must hold onto them even as we reach greater heights.
For example, let’s say you own a small bakery that has gained a loyal following due to its delicious pastries and excellent customer service. As the bakery grows and expands, it would be easy to focus solely on increasing production and profits. However, if the bakery were to lose sight of the things that made it successful in the first place – the quality of the pastries and the importance of customer satisfaction – it would be in danger of losing its loyal following.
On the other hand, if the bakery were to maintain its commitment to producing high-quality pastries and providing excellent customer service even as it grows, it would be much more likely to continue to thrive and achieve even greater success.
This quote from Will Guidara is a powerful reminder never to lose the things that have helped us grow and succeed. Whether running a small business or working our way up the corporate ladder, it’s important to remember that the things that got us to where we are should not be left behind as we aim for even greater heights. So, hold onto the values, principles, and practices that have brought you success, and you’ll be well on your way to achieving even more tremendous growth and success in the future.
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Excellence
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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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Embrace the Unknown
Photo by Grant Ritchie on Unsplash
“Nobody knows what they are doing before they do it.” This quote by Will Guidara is a powerful reminder that we all start somewhere and that it’s okay not to have all the answers.
We all have moments of uncertainty when we feel unsure where to go or what to do next. It’s easy to get caught up in fear of failure, which keeps us from pursuing our dreams and goals. But the truth is, nobody knows what they’re doing before they do it. We all must take that first step, even if we’re unsure where it will lead us.
It’s natural to feel a little lost sometimes, but that doesn’t mean we should give up. Instead, we should embrace the unknown and use it as an opportunity to learn and grow. Take a chance on something new, even if you’re unsure how it will turn out. You might be surprised at what you’re capable of achieving.
The road to success is never easy and is certainly not a straight line. There will be twists and turns, ups and downs, and plenty of moments when you feel you have no idea what you’re doing. But that’s okay. It’s all a part of the journey.
One thing to remember is that you don’t have to go it alone. Surround yourself with people who support you and who you can learn from. Seek mentors and role models who can offer guidance and advice. And don’t be afraid to ask for help when you need it. We all need a little support from time to time.
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Elevating the Hospitality Experience in Multifamily Housing
Photo by Alexandr Popadin on Unsplash
Hospitality in the multifamily space refers to the level of service and amenities offered to residents in an apartment community or other multifamily housing development. In recent years, there has been an increasing focus on elevating the hospitality experience in multifamily housing as developers and property managers seek to attract and retain residents in a competitive market.
Multifamily properties incorporate hospitality elements by offering a range of amenities and services similar to those found in hotels or resorts. This can include fitness centers, pools, outdoor grilling and eating areas, business centers, and services such as package delivery and dry cleaning.
The other aspect of hospitality in multifamily is the customer service provided to prospects and residents. This can include responsive maintenance and repair services, concierge-style assistance with tasks such as booking plant watering or dog walking services, and regular social and recreational events for residents.
In addition to amenities and services, some multifamily properties also incorporate technology to enhance the hospitality experience. For example, some properties offer virtual tours, online leasing options, and innovative home technologies that allow residents to control various aspects of their living environment from their phones, such as thermostat settings and access to delivery services.
Overall, the trend toward hospitality in the multifamily space is driven by the desire to create a more comfortable, convenient, and enjoyable living experience for residents. Multifamily properties can differentiate themselves by offering a wide range of amenities and services and excellent customer service.
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Incentivizing Multifamily Maintenance Techs
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As a property manager, you know that all team members are essential to building a positive resident experience. However, maintenance technicians often have the most impact on residents, as they are the ones who interact with them the most. If you want to encourage and recognize the successes of your maintenance technicians, here are nine ways to do it:
- Pay a premium for good technicians, and base raises on performance. Using maintenance management software, you can gather hundreds of data points about technician performance to measure their value to the company.
- Offer flexible hours to help technicians maintain a healthy work/life balance and reduce the chances of burnout. Centralization through technology can also improve the technician experience by allowing them to sync data and report to a central source, reducing the need to go back and forth to the leasing office constantly.
- Create a career path for technicians by offering training and grooming opportunities to help them advance or specialize. This can increase job satisfaction and make technicians more likely to stay with your company.
- Acknowledge and recognize the hard work and achievements of your technicians. This can include verbal recognition, small bonuses for going above and beyond, and proactively giving raises for consistently good performance.
- Offer professional development and training opportunities to help technicians improve their skills and advance their careers.
- Implement a rewards program that recognizes and rewards technicians for exceptional performance, such as meeting specific productivity goals or going above and beyond for residents.
- Provide technicians with the tools and equipment they need to do their jobs effectively, including access to technology and software to help them be more efficient.
- Encourage a positive and supportive work culture where technicians feel valued and appreciated for their contributions.
- Provide benefits such as gym memberships, team-building events, or employee wellness programs, and employee benefits that can make the job more enjoyable and rewarding.
Implementing some or all of these strategies can improve your maintenance technicians’ job satisfaction and performance, leading to a better resident experience and lower staff turnover rates.
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