strategy
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
Pic Props: TSLBO
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How do I Build Habits?
I am often asked questions that lead with the word, how. How do you do this, how do you do that, how can I be or do better in my career, life or otherwise. Or, how do you go about creating good professional habits? Which follows the lines of my favorite question, also the premise of this post; how do you get out of bed so early in the morning? My answer: I made it a habit.
Those that know me, know that I work crazy hours often times hitting the pillow right prior to the rooster’s announcement of the day to come. And, I rise at roughly 6:00am everyday without the aid of an alarm clock. It used to be 5am but the older I get the more sleep I am learning I need.
How Did I Build the Habit of Rising Early?
It all started in college. I played basketball at Texas Tech University back in the early 90’s and part of our pre-season conditioning was running at 5am – 4 days a week. Imagine trying to have a social life while being a student while training for basketball – its brutal. Granting the pre-season training was just a six-week stretch; it was still tough. And, required good habits. Rising early being one of them.
Rising early was not an easy task and getting to bed earlier was just not an option at that time in my life. So, what did I do? I put the alarm clock as far away from my bed as I possibly could. That act alone forced me to get out of bed and walk to turn it off. At that point it was absolute will power to not crawl back between the sheets. Now granted; I had massive leverage in that missing a morning run meant a serious consequence up to and including losing my full ride scholarship. But the action of getting out of bed that early over a six-week stretch, even with three days a week off, got me in the habit of rising early. And, I have never looked back.
Laying the Foundation Habits
What does rising early have to do with building good professional habits? I see three things in the life experience cited above; 1. catalyst 2. will power 3. massive leverage. It’s not one but all three working together that builds good habit.
Catalyst
Professionally [using a marketing bent], your catalyst should marry around something to the effect of; you will be the greatest social marketing master of all time. No kidding. Okay, maybe master is a stretch given the constantly changing environment. The point is that you must be willing to sacrifice massive amounts of time, effort and brain power to get up the curve and stay there. And, don’t think once you get there you can coast. It’s just as hard if not harder to maintain the pace concerning innovation, consistency, quality and quantity.
Will Power
To put it bluntly – some days it will just suck to be you. How do I get over that? I read a book some years ago that depicted a scenario where you pick the thing about your day that you just don’t want to do and go about making that the ‘knock it out of the park over the top most compelling and rich’ thing you have ever done in your life time. Try it – you’ll get the point when you get to the end of the project.
Massive Leverage
How do I create this in my life? I think about two things 1. My wife and kids depend on me to be the best I can be. 2. My good self can only be expanded upon or reduced upon by me. No one runs my game. I am responsible for the good, the bad and the ugly every day of the week. And to make sure I remember that; I read my personal creed along with my personal, professional and economic goals every single morning and with massive passion [read: creating massive leverage]. Read enough, things just seem to come together. I really can’t explain it except to tell you that it works 100% of the time.
Your rising early multifamily manic,
M
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#apartmentmarketing – 2012 Short List Prediction Post
Don’t be afraid to get creative and experiment with your marketing. – Mike Volpe, Chief Marketing Office – Hubspot
Not another social prediction post! No, there are many really good ones already out there such as the one Mark Juleen posted with the help of Mike Whaling and Duncan Alney. Another fav is the one Brian Solis penned on the subject of social and how it relates to business in 2012.
I’m not heading for the broad angles or general predictions that seem to affront us all this time of the year. No, I would like to get a little more intimate and little more bold. To me 2012 will be the true year of pain for many of the tried and true resources that many of us have leaned on over the years to market our apartments and communities. The simple premise being that the proliferation of DIY platforms and DIY tools along with a growing level of comfort in using them have made it easier to compete.
The barriers to entry have crumbled and it’s time to ROCK!
My prediction comes in the way of a question –
Who will be your biggest apartment marketing competitor in 2012?
Print and Internet Listing Services
If you are anything like me you pay attention to everything the traditional ILS’s and print media outlets are doing in the social space and otherwise. In 2011 some of them made shrewd moves like employing our very own leasing consultant and management forces across the country to build Google Juice on their behalf. Brilliant but very un-partner like in my opinion. And, still others have stumbled; for example absolutely refusing to unbundle print from internet offerings until it was just frankly to late. Certainly soured my opinion of that specific group.
You just can’t see them as partners anymore [remember – they have to pay the light bill too] and to the extent that you can embrace that, use them where you need to [print and ILS are not broken and are still effective] and build a plan that brands you and your company first you will be better off. It’s frankly as important as sending out renewal letters and collecting the rent at this point.
Just know, anymore it’s not the building next door or across the street from you that is your biggest competitor. It’s more and more so the print media and ILS providers.
The Re-imagination of Locators in Secondary, Tertiary and Hyper Local Apartment Markets
Back in late 2004 or 2005 I met a guy named Eddie Passadore. Brilliant guy and passionate about the multifamily space. He came to work for Equity Residential and quickly went about producing some off the wall results. How? Craigslist. And, Rentwitheddie.com. That’s right he built out his own website, put his personal cell number on it, made himself available 24/7 and syndicated it via the emerging social platforms of the time. Namely Craigslist and MySpace. Result? He now runs his own property management firm in Portland, Oregon.
I recall spending countless hours brainstorming with Eddie about marketing oneself in lieu of physical buildings. It’s what inspired my personal blog [at the time called mike brewer on stuff and things] and the Portland Rocks Newsletter blog we ran back then that promoted Equity Residential’s Portland employees and properties. We talked about everything from using print to advertise our agents in lieu of our communities to building out personal websites for every single one of our agents. An idea I still think has some crazy potential [time and date stamped for future development]. And, he went and did it.
All that to suggest that the locator will have a major play in our space and many of our current day leasing consultants will be the people doing it.
Me. Us.
If we are to contend with the fire hose of data and change that will come our way in 2012, we have to invest in ourselves. I think this is the year that those who have sat on the sidelines as observers and passive participants are going to come alive. They will finally get that if they don’t they will be cooked and standing in the unemployment lines across this great nation. This is the year that organizations raise the bar for talent. No longer will mediocrity be tolerated. And, no longer will it be just okay to muddle along.
You are your biggest competitor in 2012. You are your own benchmark. The you that you look at in the mirror today should be a distant memory by the time you make it out of bed tomorrow. And, in a more beautiful way!
Here is to us in 2012!
Go – and make it relentlessly compelling!
M
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#apartmentmarketing: Blog Format Question
Short and sweet today –
One of my favorite blogs, one I read everyday without fail, is Valeria Maltoni’s – Conversation Agent. First rate content always.
Apartment Blog Trunk
I gave up on RSS feed reading about a year ago as I spend more time in my inbox. Nearly every blog I read is done through Outlook now and as such I give more time and attention to the things I read. In other words, I generally do not skim the headline and move on.
About a month ago Valeria made the decision to truncate her email subscription delivery meaning we only see a portion of the message and are forced to click on a link to see the rest.
Result: I read fewer of Valeria’s material to the end. Sorry Valeria.
I understand the reasons for cited in her Saying it in 200 Characters post back on Aug 10, 2011.
My question – should apartment marketers truncate their blog post offerings? We are trying it a Mills [Shameless plug – the Mills Blogging Team is Putting a Dent in the #STL market place].
Would love to hear this communities thoughts? And, thank you in advance for taking the time.
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#apartmentmarketing: Content
Focus on the core problem your business solves & put out lots of content & enthusiasm, & ideas about how to solve that problem. – Laura Fitton
Want tons of followers or fans? Write compelling content that is easy to read, packed with good actionable advice and be personable.
No sage advice there, right. I concur.
Apartment Content Marketing
As it relates to marketing apartments; I subscribe to the school that thinks you provide content beyond the good or service. In this case the actual apartment itself.
Rather look for opportunities to provide content that solves the following [no premise for the categories or the order of]
1. I can’t decorate to save my life
2. I need access to solid and reliable transportation
3. I want to walk to work
4. I want to walk to the coolest pubs in town
5. I need ideas on what to do tonight
6. I need ideas on what to do to this weekend
7. I want to be the first to know about the next ‘thing to happen in my neighborhood’
8. I want to know where to take my dry cleaning
9. I want to know where to get a good glass of wine
10. I want to know about a good alternative to Starbucks
11. I want to what I did last night….hmmm, maybe I don’t want you to solve that problem
12. I want to know how much you care before I buy from you
Have a smashing and amazing weekend; make it compelling too…
M
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