I’ve noticed that the more complicated the journey, the richer the rewards. With the right mindset, tiny obstacles can morph into monumental achievements.
Conventional wisdom tells us that what doesn’t break us shapes us. Crucial to our development is the embrace of difficulty, not the avoidance. (Steal this) mindset, and watch as every struggle becomes a stepping stone. Step by step, what seemed impossible becomes a testament to our resilience."Embrace the hard, for within it lies the seeds of growth." – Mike Brewer Click To Tweet
Each hard-earned victory is a layer added to our foundation, making us unshakeable in the face of future storms. This journey of embracing challenges is not just about surviving; it’s about thriving. It transforms us, equipping us with the wisdom, strength, and adaptability to face whatever comes next. So, the next time you encounter a roadblock, remember it’s not just an obstacle; it’s an opportunity for growth.
#GrowthMindset #EmbraceChallenges #Resilience #PersonalDevelopment #Achievement #OvercomingObstacles #OpportunityForGrowth
Photo by Ruth Georgiev on Unsplash
Let’s chat about a concept that has always fascinated me: Opportunity. What is it? How do we recognize it? And, more importantly, how do we seize the moment?
Recognizing the Right Moment
Often, people think of opportunity as a lucky break, an unforeseen advantage that lands unexpectedly. But the essence of opportunity lies not in luck but in the conjunction of time and circumstance. It’s when a specific moment meets a particular set of conditions, creating the perfect environment for action.
For example, opportunities in the multifamily space manifest as vacant units, an evolving interest rate market, challenging labor markets, and changing demographics. Recognizing and aligning these moments with our goals and resources allows us to create something valuable.
The Modern Era of Opportunities
The digital age has transformed the landscape of opportunity. With the internet at our fingertips, opportunities once localized or limited by geography are now accessible anywhere. The barriers are lowering, be it a new job, investment, or a chance to learn.
But with this abundance comes the challenge of discerning genuine opportunities from distractions. Recognizing and acting upon genuine prospects in an information overload era becomes a valuable skill.
Some opportunities arise purely out of circumstance. With its myriad challenges, the current global scenario might seem like a hindrance to many. But for the discerning eye, it presents numerous chances to innovate, adapt, and grow. If you can train yourself to see around the corner and connect the dots, you will earn the opportunity to be ahead of the curve and to lead others.
For instance, the COVID-19 pandemic, despite its devastating impacts, led to a surge in remote work, digital leasing solutions, and centralizing of work efforts. Those who were quick to identify these shifts and adapt accordingly found themselves not just surviving but thriving.
The Essence of Opportunity
At its core, opportunity is an invitation. It’s a call to step out of our comfort zone, to challenge the status quo, and to embrace change. It’s a reminder that stagnation is not an option, especially in a constantly evolving world.
Every day, we come across opportunities in various shapes and forms. It might be a chance conversation, a new book, a business idea, or a life-altering decision. The key lies in being present, observant, and willing to take that leap.
Opportunity in Daily Life
But it’s not always about the big moments. Opportunities also lie in the mundane, the routine, and the everyday. It’s the choice to take a different route to work, to speak to a stranger, to try a new dish, or to pick up a new hobby. It’s about seeing the potential in the ordinary and the promise in the familiar.
One must cultivate a curiosity, openness, and adaptability mindset to seize the moment. It’s about being proactive, taking risks, and understanding that failures are merely stepping stones to success.
Opportunity is not a fleeting moment of luck. It culminates time, circumstance, and our readiness to act. As we trek through this modern-day landscape, let’s strive to be more observant, receptive, and willing to embrace the myriad opportunities that come our way.
And always remember: Every moment holds the potential for greatness. It’s up to us to recognize, seize, and make the most of it. Seize your moment!
Back for another week of budget talk. Hope this past week has been over the top and amazing for all of you. If not, you have a whole life of potential in front of you so don’t fret too much. Last week we talked about Month to Month Premiums and this week are moving on to Apartment Budgeting: Lease/Short Term Premium.
Lease/Short Term Premium Defined
Lease/Short Term Premium is a fee that is added to any lease that is less than the desired six, nine or twelve month lease that most of us non-revenue management practitioners desire. Call is a fee of convenience if you will. It allows a resident to have flexibility in the way of getting out of the lease contract without any lease break penalties. It is a simple month to month premium that you tack on at the initiation of the lease term.
I have seen this fee applied in the way of a flat fee ranging from $50 to $100/mo. And, I have seen it applied as a percentage of the lease rate ranging from 5% to 10%/mo.
I typically consult a twelve month trailing report to determine what my forward-looking twelve month budget number should be. This is again one of those fees that is very hard to budget for given the fact that is simply random in nature. Unless you are located in a somewhat urban area with a propensity to attract corporate type clientele, you will rarely book income to this line item.
Marketing Short Term Leases
Don’t forget that everything is marketing. And, this line item should prompt you to look for marketing opportunities. Use Short Term Leases as a bullet point on your website. But, don’t get too crazy as you don’t want to create unwanted exposure. But, it would not be a bad idea to let two to three percent of your unit count produce some extra revenue.
Your looking for opportunity in every line item multifamily maniac,