Scaling Up
Scaling Up Keystone
Location, Location, Location – real estate types know this aphorism better than most. It’s the key to any good transaction. Always buy property with your exit strategy in mind and location for certain is part of that thought process. But don’t forget about the equally if not more important piece of the equation.
People People People
As Mills Properties journeys down the road of Scaling Up; we are becoming more and more aware of having the right people in the right positions doing the right things. Not unlike purchasing property with the end in mind; it’s critical to hire and train the right people. Also, with a distant time in mind.
Hire For Attitude
A number of years ago – too many to count – I had the awesome pleasure of working for Equity Residential Properties. A company and people I will forever hold in esteem. They have a real penchant for hiring right. Their mantra at the time, hire for attitude and train for skill, governed the overall sourcing and hiring process. It worked.
Hire For Character
But I think hiring for character is a much more powerful governor than attitude. While attitude covers a person’s way of behaving; I think it’s easily rocked and completely open to the winds of change. Not a bad thing; just a bit less stable for what I believe is a keystone to business success. Whereas character is a much deeper sense of self as governed by a solid moral center; it is less affected by the downsides of adversity and the upsides of awesomeness.
Scaling Up
The keystone message: hire for character, train for character and coach out for lack of character.
Your looking forward to scaling up multifamily maniac,
M
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It’s a New Year
It’s been a while.
I took the better part of six months off from writing. The chief reason; time.
Mills Properties, the company I work with, is emerging from some deep and excruciating growing pains. Pains that caused me to take time away from the things I love most. Writing be among them.
We still have a long way to go before we become the organization that we want to be; a journey that will no doubt be rich with reward but also rife with struggle.
Getting out of your own way and going void from breathing your own exhaust is often times the hardest work a company can do. Having the courage to embark is necessary. And shying away from monologue is central to building a great organization.
Not understanding that entrepreneurialism and leadership are two very different things can and will divide mediocre companies from great ones. With that in mind; the more time I spend at Mills the more I truly understand the absolute difference. I also understand the necessity for dreamers, strategist, managers and those who do the hardest work of all; the people who stay compelled to work with all the characters listed above.
Very few people can pull off both roles – entrepreneur and leader and the responsibilities that go along with each.
My hope for this year is that we find our way. And the writing I do from this point will be focused on scaling up progress and greatness all the while pushing for excellence.
A word I’ve pulled back from using (may the gods bless Tom Peters – I still love the guy).
It’s utopian and quixotic to think a company or a person can be excellent across disciplines such as heart, body, mind and soul. Across operations, marketing, accounting, capital improvements, and human resources. Across curb appeal, tour routes, landscape, product, pricing, leasing, etc.
Anyone who thinks otherwise is back to breathing their own exhaust.
With that – here I go. I will have fits and starts with my writing no doubt but I’ve penned a 2015 intention to keep it up as best I can. And the overarching intention is to capture the journey of scaling up a company for progress and greatness. And from time to time a hint of excellence!
Your thankful for the lessons of 2014 and looking forward to 2015 Multifamily Maniac,
M
