Greatness appeals to the future. If I can be firm enough to-day to do right, and scorn eyes, I must have done so much right before as to defend me now. Be it how it will, do right now. Always scorn appearances, and you always may. - Ralph Waldo Emerson

Trusting intuition and making decisions based on it is the most important activity of the creative artist and entrepreneur. If you are facing (and fearing) a difficult life decision, ask yourself these three questions:

1) “What are the costs of inaction?”….

2) “What kind of person do I want to be?”

3) “In the event of failure, could I generate an alternative positive outcome?”

Multifamily greatness

We recently purchased a property from a lending institution who had in turn taken it back from a previous ownership interest. When completing the due diligence phase of our process we discovered roughly 40 units in various stages of disrepair. Units we classify as down. Down to mean not habitable absent some major rehab.

It spoke loudly to the point of the first question – inaction. Banks are not property managers. And, in lieu of spending $25 to $30k to replace the roofs, they left them alone. Result of that inaction? Several hundred thousands of value wiped away.

Greatness starts with forecasting the consequence of in-actions. In this case, it would suffice to say that some back of the napkin math would have yielded an ROI that would have driven a decision to replace the roofs.

What kind of company do we want to be

At Mills Properties, we ask that question a lot. As of late it has been in the area of branding, marketing, digital footprint and the such. We have been slow in moving toward what we want to achieve part and parcel because of near 50% growth in community and unit count over the past four years. And, in part not having a real plan.

Fast forward to today. We have taken the time to craft a 40+ page branding/marketing plan that includes everything from font types and size for all thing forward facing to big ticket strategies to dominate the St. Louis Apartments on and off-line space. It lays it all out and captures how everything from curb appeal to lease contract signing ladders up into an overarching message for the neighborhoods and communities we serve. And, in advance our striving to make a splash nationally at some point.

It all starts with asking the right questions.

Multifamily failure

I think the best way to overcome failure is understand that it going to happen from time to time. In fact, I like what Tom Peters has to say about it, “reward

Crash and Learn

failure.” If you are not failing, you are not trying, you are not learning and thus you are not growing. Equity Residential cements this in their 10 ways to be a winner – one being ‘take educated risks.’ The expectation is that you gather every piece of information you can to include the counsel of others before you pull the trigger. And, if you fail, you simply have a group postmortem where you examine the facts and the various action points to see what could have been done better.

Off for a float trip

It’s Saturday, it’s raining and we are headed out for camping and a float trip. Should be loads of fun. I say that with lots of hope in mind.

Your hoping you have an amazing weekend contributor,

M

A man should learn to detect and watch that gleam of light which flashes across his mind from within, more than the lustre of the firmament of bards and sages. Yet he dismisses without notice his thought, because it is his. – Ralph Waldo Emerson

…Decide what you want the future to be and make it happen. Because you can. Write about your future now.

(Author: Cindy Gallop)

It’s an elegant way of saying Trust thyself. There is no way of really telling how many times a year we have brilliant ideas cross our mind only to be lost in the same instance. And, no way to tell just how many times that dismissal is a direct result of our innate lack of trust in our own wherewithal. Or, back to that ever persistent dream killer – fear.

What do I want people to say about me when I die

A number of years ago I took the time to write a personal creed for myself. The soul-searching was prompted by a book I was reading at the time; don’t quote me but I do believe it was Steven Covey’s 8th Habit. The methodology included thinking about your very own funeral. I know, morbid huh?

You are at the back of the room as you watch four people take the stage to speak about you: a family member, a co-worker, a coach, mentor, friend or otherwise and a civic/church member. In the exercise you wrote about all the things you would want those individuals to say about you. In doing so you would discern the things that meant the most to you in the way you would want to live life. In a word: character.

Once you defined the character traits, the next step consisted of writing your creed. And, once the creed was written it was time to pen your goals and strategies with which you went about achieving them, predicated on the creed. Or, what you were going to do to build your character.

Character leads the way

Every year in early Jan, I sit and pen my goals for the coming calendar year along with five years and ten years down the road. All predicated on my creed. All in an effort to work on character first, accomplishment second and gathering of things third. In my head if I work on character, accomplishments will come followed closely by money and the things that money can buy.

Over time I will post the creed and the goals that go along with it as one of the last steps in the methodology is to share openly with those that would hold you accountable to living up to what you penned. But, not yet.

What about you; what methodology do you use to create the future for yourself?

Your working on 2011 goals predicated on creed and aiming for good character contributor,

M

Imitation is Suicide. Insist on yourself; never imitate. – Ralph Waldo Emerson

(Author: Fabian Kruse)

Let me start by saying this is a tough one for me as I believe in and have utilized the highest form of flattery in the past; that is, borrowing multifamily business and marketing concepts and adding a twist or two to make it my own. I am certain that I have employed a few former employer concepts at my current place of business. 

Multifamily Blog

To speak to the point of today’s prompt. What are those area of my life? I would say the multifamily space leads the way. I have the tagline on my blog; Out to put a dent in the multifamily universe and I believe that will come in the way of insisting on myself as suggested above. I like to think we did as much back in 2006 or 2007 when we created the Portland Rocks Newsletter Blog while working for EQR. After a few platform changes and copy amendments we settled in and went for it. The team went on to win an inagural award for, in part, being the most innovative group in the bunch. Blogging today, while not mainstream, is certainly more prevelant that it ever has been. And, it will only continue to get more exciting. We like to think we were part of the catalyst that got the party started. 

Today, we are constantly working on identifying new and exciting ways to enhance our organization through the use of exciting new technologies. And, look forward to continue to flatter and uniquely innovate in the space. 

What about you? 

Your, not sure if Imitation is suicide, contributor,

M

The other terror that scares us from self-trust is our consistency; a reverence for our past act or word, because the eyes of others have no other data for computing our orbit than our past acts, and we are loath to disappoint them. – Ralph Waldo Emerson

This reminds me of the saying; The thing you fear most is the thing you should do next. Or, do something everyday that scares the hell out of you.

Public Speaking

I love the multifamily business with a purple passion. It has been the avenue that has paved lots of good fortune for me over the years. And, any chance I get to talk about any aspect of it; I take it.

Last night, I was a guest speaker for a professor at Washington University in St. Louis. I spoke on the topic of marketing and leasing up a re-development project called The Laurel Apartments. It’s an amazing project with amazing potential to change the social landscape of the neighborhood. It has everything a marketer could ever hope for in the way of an assignment.

That said and to the point; public speaking scares the hell out of me. It’s a dream of mine to be an accomplished public speaker over time so I jump at every scary chance to present not in spite of that fear but rather in celebration of it.

What are you afraid to do?

Mindful Living

Day three of the #trust30 hits us with the NOW…

Life wastes itself while we are preparing to live. – Ralph Waldo Emerson

If you had one week left to live, would you still be doing what you’re doing now?….(Author: Jonathan Mead)

Live More Mindfully

I think the otherwise simple answer to this question is; I would spend more meaningful time with my family. I would play more monopoly with them, I would build more lego apartment buildings with my son, play more ‘Ken and Barbie find their first Apartment’ with my daughter and I would go out on far more date nights with my girl. It’s somewhat tongue-in-cheek with the point that being mindfully present with the ones you love and the ones that love you back is where the real wealth of life extends itself.

Your short and to the point contributor,

M

If we live truly, we shall see truly. - Ralph Waldo Emerson

Not everyone wants to travel the world, but most people can identify at least one place in the world they’d like to visit before they die. Where is that place for you, and what will you do to make sure you get there?

(Author: Chris Guillebeau)

Using Multifamily

I truly believe that organizations are created to serve the people that serve it. And, if done right those that are served then, in turn, serve those that participate with the organization in the way of human and fiscal transactions. Simply said, serve people and they will by default they will serve others. I use multifamily as a platform for education and the creation of wherewithal.

Education and Means

I also view my career 100% as an education that will end in my own endeavors. Today, it also provides means for the health and welfare of my family. I won’t work for someone for the rest of my life. I will serve in exchange for the education and a fair living, until that moment comes where it makes sense to move on. And, to speak to today’s prompt, using some of those means to get out into the world adds to character development.

International travel is something that I have always been intrigued by and not unlike using the the Multifamily business for an education, I see it as a way to add to and build character. And, the multifamily business is one way to fund it all.

To me, Ralph’s quote is more about who you become as a result of living out loud with no reservations as long as it is in the context of sticking true to internal values. Where would I go? Somewhere remote and unwired in any way.

Where would you go?

So with that, I sign off this Saturday morning to head for a run.

Your looking forward contributor,

M

Nothing like a punch to the gut to get things started. The following quote and subsequent action step showed up in my inbox as promised:

That which each can do best, none but his Maker can teach him. Where is the master who could have taught Shakespeare? Where is the master who could have instructed Franklin, or Washington, or Bacon, or Newton? . . . Shakespeare will never be made by the study of Shakespeare. Do that which is assigned you, and you cannot hope too much or dare too much. – Ralph Waldo Emerson

Identify one of your biggest challenges at the moment (ie I don’t feel passionate about my work) and turn it into a question (ie How can I do work I’m passionate about?) Write it on a post-it and put it up on your bathroom mirror or the back of your front door. After 48-hours, journal what answers came up for you and be sure to evaluate them.

Self Control

Self control instantly came to mind but I did not have a post-it. I chuckled and thought I could write about finding a post-it as my biggest challenge of the moment. But, that would obviously be missing the point of the exercise. So, I grabbed the nearest piece of paper and wrote the word out. Looks like Sunday mornings writing time will be dedicated to the subject of self control.

In brief opinion, self control is getting more and more difficult in the wired world. Now, I could displace it on my self diagnosis of ADHD or an Addictive Personality or I could blame it on Facebook, Twitter or any other host of social media platforms but at the end of the day, it’s on me. It’s that space between stimulus and response called choice. I get to choose what I spend my time on despite the stimulus. And, it really is predicated on my ability to control thyself.

Majoring in the Majors

As it relates to the multifamily space, my biggest challenge at the moment in my business – How can I be compassionate and passionate about rising delinquencies at our more challenged assets? The mechanisms are in place and the processes are solid. On the backside, unemployment figures are not getting any better, people are one ‘life event’ away from complete financial wipe out and poor financial discipline is exaggerate by misaligned needs vs wants logic.

There it is – would love to hear what your biggest multifamily business challenge is at the moment. Please rock the comment box below – if you feel compelled.

Either way, have a compelling weekend. It’s going to be a crazy hot 98 in #STL tomorrow.

Your thinking hard about self control

The idea came from the following link:

#Trust30 is an online initiative and 30-day writing challenge that encourages you to look within and trust yourself. Use this as an opportunity to reflect on your now, and to create direction for your future. 30 prompts from inspiring thought-leaders will guide you on your writing journey. Sign up below to receive the prompts by email. If you like this pledge, check out reverb10, it’s inspiring.

My hope is that it does not come across as noise and my aim is to be brief in nature with each offering. Great thing about our blog is that it’s opt-in and/or opt-out. We totally understand. My additional hope is that we add some value and provoke some good discussion or good cause for sharing. Or even more compelling; your opting to take on the #Trust30 challenge.

In any event; have a compelling June. Make it a relentlessly awesome one.

Your taking the #trust30 challenge contributor,

M

MFMBWA

In the world of leadership it just makes sense that you would be out there glad handing, cheer-leading and relentlessly challenging those who serve your business. I have long held the belief that organizations exist to serve the people that serve it. Thus, it is the leaders calling to serve. And, baked into that calling is the need to know your people.

We have all been there, “Hey Fred, now what is that porters name again?,” “And, what is the assistant manager’s name?” I’ve done it myself more than once. Not only is that embarrassing, it just plain wrong. No a fact I am proud of for sure. Can we all agree that people want to feel like and more importantly know that they are part of something bigger than themselves. They want purpose, they want mission, they want values that are in alignment with their own. They want to be dignified. And, they want you to know their name and be genuinely interested in them.

Multifamily Management by Wondering Around

MBWA was made famous by Tom Peters and Bob Waterman when they researched and wrote about it in the book, In Search of Excellence. The practice was a cornerstone of Hewlett Packard’s business model. [A practice they seem to have forgotten; as of late at least.] The thought was that the most unadulterated pulse of your business comes from the front lines. The forward facing people that serve the people that participate with your goods and services. They are the ones that give you the best sense of what is and what should be as it relates to running a profitable business.

How do we do that?

First, we show up. Go ahead, make an appointment with your front line people today. Make two or three and stick to them.

Next, we ask probing questions. Get that list together ahead of time. But make sure you leave the environment open for fluid conversation.

And then, we listen! There is a reason you have two ear and one mouth. Listen twice as much as you talk and you are guaranteed to learn a lot about your people and your business.

That’s it. Simple as it sounds it is likely the most overlooked and underutilized piece of our business. We get so caught up in the deal, in the reporting, in the fire drill that we put the site visit off. We assume the people will understand. They get that we are in growth mode. They get that we are busy. They get it. It’s all good. Truth be know you rob them of their dignity, their pride and their wherewithal.

Your making several meaningful front-line appointments for next week contributor,

M

Relentless Courage

We have all been there; sitting around the conference room table discussing the latest property management opportunity, issue or otherwise and you just know in your heart of hearts that no one including yourself is saying the tough stuff. Just this week I posted over at propertymanager.com about courageous conversations and moments of truth. In my head, it is the only way to grow an organization.

I love the way Hugh captures it visually over at gapingvoidgallery

Back in my early corporate days, this came as quite a shock to me: that people sitting around the table didn’t always say what they were REALLY thinking! Shock! Horror!

The sting of unspoken words gives cause for what Hugh calls, complete agreement. On the backside we have; 1. That is the stupidest idea I have ever heard. 2. That will never work. 3. I am doing my own thing. Or, worse yet – 4. I’m not changing a thing.

Take away: Don’t be “That Guy” or “That Gal” Instead be – “Not Afraid”

Silence or compliance cheats the group out of being a better organization and you out of being a better leader.

Your ‘Not Afraid’ Contributor,

M