Happy Holidays from The Mouse House

Ok, so not really at the Mouse House when I am writing this but close enough to watch the fireworks at Epcot from my office window.  As many of you know I have had a very successful career in both property management and as a trainer and consultant in the property management industry.  I am so thankful for the fantastic people I have worked with and especially the ones that have touched my heart and soul.  I have had wonderful mentors as well as some fantastic teams who entrusted me as their leader.  When educating and training I assisted in the development of thousands of team members over the years to find inspiration in reaching personal and professional goals, and still have a file containing some of the exceptional comments I have received which I call my “Not having my best day file.”  I have used this to get the creative juices flowing if a mental writing block comes into play, as well as giving the occasional boost of confidence when trying to detail a training outline for a new presentation. 

When not visiting Michigan in February because I have a workshop to give (Who would go to Michigan in February unless they were being paid well for it?), or spending part of my vacation working on a new Power Point presentation, I do insure my downtime is quality which may include my passion for our aquatic world.   Most of my down time is working as a scuba diver for Walt Disney World and their Dive Quest program, and I might add doing some extremely interesting and I might say important things and getting paid for it.  My responsibilities have included safety diver coordinator for character diving, a.k.a. Mickey Mouse scuba diving in the 5.7 million gallon aquarium (see photo).  Pretty cool when you are the person responsible for making sure Mickey Mouse is alive for his next movie or parade event.  Other tasks have included helping capture a large spotted Eagle Ray for his regular vet checkup, or helping transport a 1,400 pound West Indian Manatee from Disney to the University of Florida for an MRI and getting him back home.  Or how about being responsible for training divers how to use chain mail suits safely so in the event the vet staff needs to capture a shark for a checkup, it is done safely.  Throw in having seen some unbelievable animals in the wild which most people may be lucky to see on National Geographic is down right awesome. 

I guess where I am going with all this is none of us knows what the future may bring.  We could be working extremely hard and performing extremely well, and the company we are with runs into financial problems.  You go into work to find your position has been eliminated!  Yes, happened to me.  Had my position not been eliminated I might not have been a speaker and trainer for the National Apartment Association and touched so many lives.  I might not be a scuba diver at the “happiest place on earth,” as it is called and work personally with the “big eared guy” himself.  After completing course work I am now a Disney Trainer, and been selected for a leadership position with the organization.  None of this would have happened had fate not touched me and something at the time that was perceived as “really bad,”  found a lighted path to what may be a new career.  So the next time life gives you lemons, find an adult beverage that requires lemon juice as you focus on moving forward.  Or if you don’t drink, make sure the ice cube trey is full and have a cold glass of lemonade. 

Happy Holidays

Larry

Training is not an event...it should be a process!

A recent accomplishment was being certified as a Trainer with Walt Disney Companies.  Pretty cool saying I am a trainer for Mickey Mouse.  While I have been providing training and education for over 15 years and previously taken TTT classes (that's Training the Trainer for those in Rio Limbo), being a Disney trainer is something few get the opportunity to say they are.  One thing is sure, Disney does things right and they look at training as a constant moving target and an evolutionary process.  We have Disney University and the Disney Office of Learning and Development, in addition to trainers within the organization by the hundreds.  As with my position on the Dive Quest dive team, we are always involved in training and re-training.  As an example, each year we have several courses we have to take even though we have taken them before.  This includes BBP, HAZCOM, Safety in Motion, and other important areas.  In addition, we are subject to training exercises at any time and without notice involving emergency response, CPR, and First Aid. 

Where am I going with this?  No matter what you are doing or what position you hold, training should be thought of as a process.  As in property management, we occasionally hold Fair Housing training with our team.  Some companies when they hire new employees do Fair Housing training, and believe they have done their job.  Problem is every year law suits say some members of our teams do not understand Fair Housing.  I have said in previous writings it is very evident from a survey I once did.   Out of twenty managers I had at a training session, only two could tell me the seven protected classes.  This is sad people, and proof we need to insure what and when we are training is as clear as why we are training.  

Another important factor is how we train related to both presentation and content.  Not everyone learns the same way, and understanding learning styles is critical from a training perspective.  A learning style is an individual's natural or habitual pattern of acquiring and processing information in learning situations.  The three basic styles are auditory, visual, and tactile (also known as kinesthetic), with one critical aspect being we as trainers need to be able to identify the needs and comprehension of our learners.  When we hear a trainer speak, what is the first verifier that makes us want to listen?  Many studies say credibility is first, and proving the trainer is knowledgable about the subject will either enhance comprehension of the material or place up barriers.  Next is how the material is presented and how the trainer creates both a verbal and visual relationship with the learners.  Are they exciting in their presentation and create an environment the makes the material user friendly?  

Training is not something that happens the day we are hired, or waiting to see someone is not performing at their best to suggest additional training.  It needs to be pro-active and not re-active.  I have often heard, "we don't have time to add additional training."  So you have time to counsel team members when they are not performing, to deal with other team members who are unhappy because you don't have a motivational environment, or finding and hiring new people that leave or are terminated because we did not believe training was a process.  Make training a process and you might find things in your life and organizational, less eventful. 

Finding Inspiration!

Where do you find inspiration?  Being inspired can come from events, people, or from within based on our values and how we are raised.  Today I was working on my novel which is taken from a screenplay I completed some months ago and received a phone call from a friend.  In asking me what I was doing I explained I was in a writing mood and working on a novel.  He replied, "You're the busiest person I know and are always working on something.  What inspires you to do all the things you?"  "Well," I said,  I don't like to be idle and have a passion for what I do."  After all, writing a novel isn't one of those things most people would say they are doing on a Monday afternoon.  Those of you that know me understand my passion for writing, and today I was "inspired" to write.

Inspiration I believe comes from our values, in addition to events and others we come in contact with.  My hard work ethic I get from my Dad, and my values from my Mom.  I also get inspiration from the belief if we can't find opportunity in your life, find it!  You see being inspired to me is being creative in addition to sharing information.  When I write about business or property management, it is to share my knowledge and experiences to inspire others to exceed and excel.  When I write for fun, it is to inspire others to ask questions and see you must sometimes seek inspiration to enjoy it.  Today, I am writing for me, and that gives me so much pleasure internally.  When he asked what I was writing about I told him it is a novel about a magician.  This magician (ok some of you know I have some knowledge in this area), also happens to have another secret.  He is an agent for a secret government organization called M.A.G.I.C.  The acronym is Military Assisted Global Intelligence Command, and is known only to the President of the United States and a few military personnel at the Pentagon and in his administration.  This magician and his specialized team use magic and illusion to prevent terrorist plots and any global or international crisis that comes up.  The first screenplay is written and has been reviewed by Warner Brothers, and I have already started the sequel as well as turning the first movie into book form.  

So what inspired me to write?  One day this idea just popped in my head after watching Fox News and information related to a terrorist plot.  Within an hour I had an outline, a synopsis, and knew exactly what was going to happen and how it was going to happen.  I just needed the time to write it, which took about three months.  I know magic and illusion, have work in an intelligence billet in the military, and have a mind that sometimes might be a little "out there."  Putting this in book form is turning out to be a little harder than I thought.  Thank God I have a good editor and proof reader.  

Find inspiration in what ever you do, but find it.  Being inspired might be tackling a black diamond trail on a ski slope.  It might be learning to fly an airplane.  Or, in my case it is writing.  No matter what, all you have to do is look for it and inspiration can find you.

Leadership - Finding the leader in you

Just completed writing my second book, "Leadership - Finding the leader in you."  It's a quick read and a fun write.  It's a topic as many of you already know which I am very passionate about.  You can find it on Amazon.com for your Kindle, or if you have Kindle viewer can upload on your PC or MAC.  You can click on the Amazon like which will take you to the site.

Thanks to everyone to encouraging me to write it.

Larry

Assets are more than property...they are our people!

As I have finally hit my 30,000th visit to my web site, I thank the hundreds of you that have commented or contacted me on how it has motivated you to exceed and excel. Now I don't say this to boast or brag, but to stress the point of sharing information and how it can expand horizons.  I have equally learned from your comments and feedback, making this what is was originally intended to be...a learning experience for everyone.  Whether marketing, leasing, sales, or any task we may take on, most of the time we depend on others in reaching goals and objectives.  

A topic that I have loved to present and speak on has been hiring and in particular hiring the right person for the right job.  I have a full day workshop I present on this, and has been one of my more requested topics.  In my opinion, it is also the most important!  I can present or train on leasing, marketing, risk management, maintenance, budgeting, financial analysis, etc., etc., etc.  The end result if I do not have the right team to implement actions in all of those areas to reach goals and objectives, basically "I'm fishing without bait."   I may enjoy the water, the tranquil environment, and even the sunset, but basically I'm not taking anything home at the end of the day.  Whow, I just thought of that!  

If you have ever read "Good to Great" by Jim Collins,  one of the primary things he highlights is "People are not your greatest asset; the right people are!"  Now think about it, we all have people but do we have the right people and the best people.  If I were to ask you if you left today to start you own property management company or business, who would you take with you and why?  Think of those people that really make a difference to your current organization.  Then think of those that you would not take and why.  Last, think about what you could do to help those on the lower rung of the ladder to climb higher.  Now we are touching into what a true leader does consistently to insure we think of our people as our assets.  We can renovate or fix up a property to improve and make it more marketable, however, we don't always look at what we can do to insure our people assets are also able to excel.  

Another area is if we have done all these things, what do we do with team members that do not develop into those we would take with us.  I believe we all know the answer, and it is not the easiest or an area anyone from a management or leadership likes to deal with.  Question: If I made changes...hard decisions, how much more would it add to the success of the team and therefore my success?  We do not work in a vacuum, and the our success as well as the success of our team or department is based on decisions we make related to the people we hire and position within the organization.    Jim also said in his book; "Get the right people on the bus, get the wrong people off the bus, get the right people on the right seats on the bus, and the bus will take you somewhere great."  

Who do you have on your bus and are they the right people and in the right seats?  Remember, you are the driving force of the bus and it is up to you if the bus reaches the desired destination.  The right maintenance, the right fuel, the right stops, the right speed, and the right direction are in your hands.  And as you have heard me say before, "Now go lead!"

What the future holds...only time will tell!

While those of you that know me understand my love for property management, there may be something new coming on the horizon.  When not speaking, training, or consulting I just happen to work for a mouse...Mickey Mouse that is!  Disney  has been great in working with my schedule, and as you also probably know I get to do some pretty cool stuff diving with nine to ten foot sharks on a daily basis.  When I decided to leave my speaking and consulting company and return to corporate life a few months ago, I knew I should keep my options open.  In doing that I decided to apply for the Disney Leadership Casting Call, which is not easy getting through the multiple hoops and being placed in the leadership pool for possible positions.  Several personal interviews, then panel interviews, then more personal interviews, and maybe out of hundreds of applicants you are selected.  Well, I was notified this past Friday that I am in the pool and waiting to hear further.  

I have come to admire Disney and the basic principles they stand for.  Just as in my career with property management and training, Disney truly looks at creating excellence.  If you have ever visited Disney World or Disneyland, you understand what I am talking about.  After all any company that can make a people trap run by a mouse must be doing something right.  The details make the difference as professionals in property management, and it is evident details are very much a part within Disney.   From the plush landscaping to the elegant costumes and parades, everyone would like to say, "I'm going to Disney World."  And to think I work there and spread pixie dust every day!  Pretty awesome in addition to being the favorite among friends and family members that come to Orlando for some odd reason.  Also interesting that relatives I had not seen or talked to in over a decade now have found my phone number when planning a trip to the Magic Kingdom.  

What will the future bring?  Who knows and only time will tell.  Could it be I return to property management in some position?  Will I start a new career path with Disney as part of their leadership team?  You know what, either one would be an opportunity and I would be extremely happy either way.  After all I have have a passion for property management, and have found a new passion for creating a different kind of magic with Disney.  As I have always said, "If opportunity knocks you should at least answer the door." 

Creating Excellence

Whether training, coaching, or consulting, the end result is to create excellence and guiding others to exceed and excel.  From a leadership perspective it's helping others dig as deep as they can, sometimes showing employees how they can do more then they ever imagined on their own.  To excel means reaching goals through showing them they had the potential to reach but maybe didn't have the confidence to see what was possible.   Creating excellence may be related to working with individuals or a team, and on a larger scale with an organization.  If you are passionate about creating excellence and can communicate it, that passion can be transferred to those you are working with.  So where does one start and how do we measure success?

The first stage is completing a needs analysis or needs assessment.  This is where you have to put on several hats including being an effective listener (my Mickey Mouse hat), asking the right questions (my attorney hat),  asking exploratory questions (my detective hat), being receptive and understanding (my warm and fuzzy hat), looking at all the options which lead to excellence (my Einstein hat), not being afraid to step out of the box and take a risk (my John Wayne hat).  

Next, formulating a plan or "path to success" related to the goals and objectives.  This means a different set of hats including being able to present and communicate what needs to be done and why (my Ronald Regan hat), identifying what assets or tools you will need in completing the mission (my mechanics hat), guiding or navigating others in seeing the vision (my explorer hat), and being ready to address the resistance to change (my protective helmet/hat).  

So many hats, so little time to wear them in!  Which takes us to the next part which involves implementing and taking into consideration time constraints and expectations.  Upper management wants measurable results and if you give a time frame for when they should see positive change, you had better deliver.  With any individual or team and meeting time goals first you must have clear goals and expectations.  If I've said it once I've said it a hundred times you can't hit a target if they can't see it, understand it, and have a vision in the path to reaching it.  Make sure you communicate expectations in both clarity and in relation to time.  If I say I need a report next week, it could mean Monday or could mean by Friday.  Same thing in regard to other time considerations including sales/closing goals, new account contracts, specific financial results (i.e. meeting budget), or personal accomplishments (completing a class or course). Be specific in your expectations or be ready for disappointments.

Communicate accountability and at all levels.  The lack of accountability has been said to be the downfall of many organizations and teams.  In an organization where there is a lack of accountability, people tend to blame everyone else and nothing positive gets done.  Having leaders that are not accountable will bring down a team and an organization faster than anything else.  Part of the reason is being accountable means taking responsibility.  Leaders must be willing to empower through responsibility, have an open and transparent way of providing both positive and negative communication, an open way to provide praise and recognition,  and acknowledging team achievements by being an effective leader not necessarily a cheer leader.  A good leader will learn from their mistakes.  A great leader will admit them!

Last but not least never being complacent and continually looking for ways to excel and exceed.  The job never ends when a goal or objective is met, it is just starting.  The bar has to be continually raised to avoid an organization and even individual positions from becoming stale.  When staleness sets in, employees leave which means a leaders job is never really done.  We constantly have to be looking for ways to motivate and inspire our teams and personnel, new ways of perfecting our trade, and never being afraid of change.  Look at what has happened just within technology in the last 20 years, and they way it looks it's only a beginning.  Now go lead by creating excellence.  The ladder to success is only limited by your passion and inspiration (and maybe a little perspiration).  Remember management is climbing the wall of success.  Leadership is making sure the ladder is on the right wall and tall enough to reach the top.

Maximizing value of our assets

As property managers, we have an obligation to maximize income and minimize expenses.  All of us have had to contend with a budget, sometimes realistic and achievable and sometimes not.  While I have talked about budgeting in the past, what I want to focus on now are the aspects of maximizing the NOI of your community or communities no matter what the status of your budget is.

There is no doubt, the first and best way to improve NOI is reducing turnover.  Fewer residents move out, less vacancy loss and lower turnover expenses.  So how do we do this?  Excellent customer service, exceptional communication, maintaining the asset and their apartment, and providing services that enhance their lifestyle (of course based on your target market).  What most managers and team members do not know is the cost of turnover and the time relationship of turnover.  Average turnover varies and is reported anywhere from 40 - 60% as the median.  We know turnover varies based on markets, property types, seasons (NMHC reports 46% of renters report they moved in the June - September time period), financial cycles, etc.   Recent trends and reports show rents have been on the increase since 2010, construction of new communities on the upswing in 2012 for the first time in four years, and turnover has been declining in most of the major markets.  Some of this related to uncertainty within the financial sector, challenges still related to the foreclosure markets, and I also believe property managers continuing to more effectively relate to resident service and services. 

Raising rents is the next way to increase NOI.  There is a tradeoff between raising rents to where residents continue to find value, and the point where resistance makes them want to look somewhere else.  That balance in order to be used effectively must be understood by property managers.  Regional Managers and corporate management I believe can do a better job of training in this area, versus dictating changes to the sites.  Help them understand the process and the analysis, as they will better "buy in" to raising rents if they understand the "why and how factors."  Average turnover costs have dropped in the last year, basically because vacancy has declined and the loss to vacancy has been reduced in most markets.   Lenders use 95% as the rate structure for loans, while property managers typically use 95% as the balance point for raising rents.  With improving occupancy nationally, this is likely to change...at least for a period of time.  One thing is for certain, nothing is permanent in our business but change.

Last but not least, minimizing expenses.  Enhancing and doing a better job of inventory control, insuring things are fixed the first time, insuring we are using the most effective marketing mediums, finding energy conservation measures, making wise purchasing decisions, and hiring the right people to get the best team are all ways we can minimize expenses.  Ever business and property can find ways to cut costs.  Just wish our government would believe that as well.

Finding 

From both an investment and an operations standpoint, 95% occupancy is considered the optimum level for multifamily properties. Lenders use the 95% occupancy rate to structure loans, while managers consider 95% to be the balancing point between keeping a property full and focusing on raising rents. - See more at: http://www.ccim.com/cire-magazine/articles/maximize-apartment-value-through-strategic-management#sthash.KthAnU4p.dpuf

From both an investment and an operations standpoint, 95% occupancy is considered the optimum level for multifamily properties. Lenders use the 95% occupancy rate to structure loans, while managers consider 95% to be the balancing point between keeping a property full and focusing on raising rents. - See more at: http://www.ccim.com/cire-magazine/articles/maximize-apartment-value-through-strategic-management#sthash.KthAnU4p.dpuf

From both an investment and an operations standpoint, 95% occupancy is considered the optimum level for multifamily properties. Lenders use the 95% occupancy rate to structure loans, while managers consider 95% to be the balancing point between keeping a property full and focusing on raising rents. - See more at: http://www.ccim.com/cire-magazine/articles/maximize-apartment-value-through-strategic-management#sthash.KthAnU4p.dpuf

If life gives you grapes...make wine!

I'm sure some of you have heard it differently involving lemons.  Don't know about you but wine just sounds more fun, unless it's a hot summer day then lemonade fits the bill.  Where I am going with this is to emphasize we have the ability to make what works and what applies, if we choose to use the resources available to us and use what works best for the situation and time.

We all make choices in life, some of them easier than others.  What movie do I want to go see tonight?  That one was easy as I yesterday took some "Larry Time" and went to go see "Now you see me."  Being a magician and based on the recommendation of some friends at Disney, I made the choice to spend more than the movie ticket on popcorn and a drink to see the movie.   Some choices are more difficult and with longer lasting consequences, but have high rewards.  Some choices are out of necessity while others voluntary, keeping in mind they are still choices.

As my friends and family know, I have made the choice to return to the executive/leadership world after spending several years training, consulting, educating, and when not doing that working at Disney doing something I have a passion for.  My friends, co-workers, and supervisors at Disney have been fantastic, and the memories and relationships I have established will last a lifetime.  So I could transition back into leadership I stopped taking contracts for speaking engagements.  Opportunities here in Florida have been slim, and I have even turned down a couple of positions because it was not a good fit.  One of the opportunities involved a company that had a very bad reputation, including not paying their suppliers and there were even reports of pay checks bouncing at the regional level.  I chose to keep looking, and do not regret for one instant the decision I made (even though it was for a lot of money...keeping in mind if the check cleared). 

One opportunity I recently applied for is not in Florida but back in North Carolina, where we were before coming to the home of the mouse.  What is hard is moving away from my daughter and grand-daughter (and of course my son-in-law), which I know will break Taylor's heart.  But, sometimes we have to do what we must do.  Interview completed and have been told will know within the next week as they have other candidates to talk with.   As I said, sometimes choices are hard and sometimes easy.  Not sure where this will go, however, if given the opportunity I have always said, "If opportunity knocks...you at least answer the door."  Those that know me understand the passion I have for the business that has provided for me for over twenty years.  Outside of the training and education part, property management is who I am and what I do.  We'll keep you posted and let you know what happens from here.  Either way, the choice is mine.

Get out to get knowledge!

I can't even begin to count how many times I have asked a site team about their competition, only to get a blank stare or answers that were far from reality.  "Tell me about ABC Apartments which you list as one of your primary competitors on your comp sheet."  Most of the time they can tell me if they are newer, older, etc., but not the details to help them understand or help them sell their own site and product.  Many times, unfortunately, they say they have never physically shopped them.  OMG!

I have written about the shortfalls of really knowing their own product (how many outlets in the living room, feet of counter top space in the kitchen, how many drawers in the kitchen, etc.), and how this knowledge can make them a better leasing/sales person.  You can't truly sell your own apartments or come across as credible if you don't know your own site and apartments.  The other side of the coin is knowing your competition. On occasion I have had managers who have visited the competitors, but then it may have been last year or cannot really answer specifics about the product.  Everyone....everyone at your site should visit the comp's at least twice a year.  So the question is, what do your really get and what areas are critical?

Nothing is permanent but change, and sites change.  Staff changes, fixtures change, amenities change, and sometimes for the bad as well as the good.  How good of a job are their leasing people doing?  What does their office and desk area look like?  What does their advertising and lease package look like?  How well is the site being maintained?  Have traffic patterns changed making it easier or harder to ingress and egress the site?  How is their lighting (means you should look at after dark as well and review breezeways as well as parking areas)?  Have they made upgrades to their interiors?  Have they upgraded counter tops and appliances?  How does their floor plan compare to ours and what are the positive and negative points?  Does their square footage include balcony and patio?  Are their dimensions listed accurate?  Have they changed their pet policies?  Are they using lease optimizer software?  Have they changed how they accept payments?  What does their web site look like and what is available as far as features through their site?

As you can see so much can be obtained, analyzed, and used and all you have to do is take a field trip and get out of your office.  Observe and learn is also another key point.  You might learn a new way of saying something listening to them talk on the phone or to a prospect.  You might also learn what not to say as well, but let's focus on the positive.  On the other hand, never...and I repeat never, say anything negative about your competitors to your prospects.  Point out the positive and how you are better.   If a prospects states they have visited XYZ Apartments use your gained knowledge to show how you are better.   I have actually had leasing specialists say, "Oh you don't want to live at XYZ Apartments because their kitchens are small."  Instead say, "I am sure if you visit our competitors you will find we have the largest kitchen space in the market and more cabinet space to provide the highest quality of living."  

We must constantly be learning and to do that constantly be assessing the market.  We also must be continually find ways to excel and exceed, as well as making sure we are the most knowledgeable we can be by training ourselves and others.  Knowledge is power and can lead to success for you and your team.   

Motivation

I once had someone come up to me after speaking at a convention and said, "You have inspired and motivated me.  Why don't you do more motivational speaking?"  

How many of us have gone to a "motivational" presentation, got pumped up at the event and felt entertained (and maybe motivated), only go to work the next day and not feel the motivation?  Now don't get me wrong as there are some people that I have heard which have made me feel very motivated.  So where does motivation come from and what makes us highly motivated.  My belief is motivation comes from within and around us (by those that work and lead us), more than it does from any seminar or speaker.  That is where effective and continued motivation makes a difference.

First, motivation must come from within.  If we don't want to be motivated or do not have the desire to be motivated, it likely will not happen.  Positive attitude has a lot to do with drawing motivation from within us.  You have heard the saying, "you can lead a horse to water but you can't make him drink."  Motivation is no different, herein the "within" factor comes into play.  Those that are positive instill motivation not only for ourselves, but with those around us.  We have all been around co-workers who did not enjoy what they did, or were not willing to give 100%, dragging other members of a team down.  We have also had the opportunity to be around team members that were always happy, enjoyed their work, and took great pride in what they did.  Look back at those different team members and remember how it had an impact on you and your team.  This is especially important for leadership because nothing will drag a team down faster than a leader who is not positive, excited, and inspiring. 

Which brings me to the "around" us part of motivation.  Creating a motivational environment is the second part of the equation.  A leader take people where they want to go.  A great leader takes people where they ought to be!  You cannot equate a favorable motivational environment in any one area.  It takes compassion, communication, clarity, effective listening, empowerment, openness, and a host of other talents from a leadership standpoint to create a true and effective motivational environment.  So if you are the leader, motivation for others begins with you!

So the next time you attend one of these "motivational" events, do not expect to go to work the next day with fire coming out of your....self, all the stars to be in alignment, and your co-workers begin a rendition of "Kumbaya" as you enter the room.  Nothing you hear will have harps playing in the background as you make important decisions and interact with your team.  Isn't going to happen unless you want it to, and those around you including leadership are motivated along with you.  It does however, start with you, which can be infectious and motivational to those around you.  This is why I would rather speak on topics that help others excel at what they do and create motivational conditions that last for extended periods of time, than tell a few jokes and build a short term result.

Developing Talents and Identifying Greatness

One of the great traits of a leader is empowerment and identifying the talents of others.  To only focus on what we have done as individuals and not looking at helping others in their career is selfish and short-sighted.  There have been many associates I have worked with which I saw great potential in their abilities, including some that I knew would some day exceed mine. 

Leadership is sometimes focused so much on the end result, they forget how important the steps are in getting there.  It's like climbing a ladder and seeing the top as you rise, and loosing your footing because we didn't see the steps or identify where our feet need to go in the process.  It is those steps that help us the next time we need to climb the ladder of success, and understanding the support and what it takes to lead to greatness.  Management is helping others climb the wall of success.  Leadership is making sure the ladder is on the right wall and is tall enough to reach the goal!  This means making sure the people that help us  have the talents and environment to help us reach the objective. 

Everyone that knows me understands my passion for education and training, and always looking to develop our personal skills and those that I work with.  This is only one of the rungs of the ladder to success.  We first must identify team members and the potential they possess who will hold the ladder and provide stability in the work environment.  Second, we must not be afraid to empower these future leaders, sometimes letting them learn from mistakes.  One of our greatest national treasures was a man named Thomas A. Edison.  He once said:  “Negative results are just what I want. They’re just as valuable to me as positive results. I can never find the thing that does the job best until I find the ones that don’t.”  













No one reaches greatness alone.  No great leader was successful without surrounding themselves with great people to work beside them as they work as a team, walk in front of them to sometimes shed light on alternative solutions, and behind them to support and at times encourage even the greatest leaders.  No great leader neglected to identify and acknowledge the hard work and support of those that held the ladder. 
 

Therapy

In addition to property management and performing training and education, one of my job’s is diving, I am in the water several days a week performing maintenance on the aquarium or leading dive groups for a guest underwater experience where I work at Disney.    In a few weeks I will be embarking on a vacation to a Caribbean island and take a guess what I will be doing!  Ok... you guessed!    So my wife and I were talking after watching a show where a boss goes undercover in a ski resort where he is the Chief Executive Officer.  One of the workers who is a ski instructor communicates he wants to go on vacation and visit a ski location in Alaska.  My wife turns to me and says, “sounds like you.”  Now some might say I’m obsessed with diving and if you looked at my garage and the amount of gear I have as well as the pictures of the underwater world I have on my computer, guilty as charged.    You also need to understand my wife is not a diver, however; she loves to travel with me to exotic destinations.  She can been seen waving at me as the boat leaves the dock, and laying in a hammock on a white sandy beach with a good book and a cocktail in hand when I return (umbrella and fruit usually included). For you married divers, the true definition of a safety stop is; “picking up flowers on the way home from a dive trip.”

So, why do I go on vacation and dive when I dive almost every day at work?  I can sum it up in one word, “therapy.”  Those who have found the tranquility of the underwater world understand what I am talking about.  No cell phones, internet, text messages, or other life distractions can be found on a reef at forty feet.   Nothing but my bubbles and the natural environment that took thousands of years to create and is there for me to take in, and for a change (no offense to those I lead on dive groups or act as safety diver for) I don’t have to watch anyone else.  It’s just me and my aquatic friends, and there is nothing like it anywhere else!  As the commercial goes: Cost of a new dive knife…. $60.  Boat trip to a reef with my friends ….$100.  Hours underwater in a world others only see on National Geographic and experiencing it personally…Priceless!  To watch a shark as he stalks a reef, see a sting ray as he hides himself in the sand, or view beautiful angelfish as they dance across the coral, it is a world special to me.

We may dive for different reasons.  To escape the stresses at work and use it as therapy.  To teach others what diving is all about.  To share what we see with others through photography and video.  To study the animals we see and even some we cannot without the use of a microscope.  To check on the changes our planet is going through and perhaps find ways to protect it for generations to come.  To discover new species and perhaps understand more about our past.  To go where others have never gone before and set new records.  No matter what the reason, diving has become a hobby for some and an occupation for others; and there is nothing wrong with using my talents of my occupation as a conduit for enjoying it as a hobby.   So the next time you call my home and ask if I am able to come to the phone and I’m on a dive trip, don’t be surprised when my wife replies, “Sorry, he’s not available he’s in therapy.”  I just hope it’s not someone calling to ask me about the submission of my resume for a job.  Doubt I will get the interview with that response.

Developing new talent

I have been speaking over the years and all those that know me understand my passion for training and education.  I would never have been the person I am today without those along my career line sharing information and believing in me.  Leaders should constantly be looking for, molding, and developing new talent for the future.  It is also extremely rewarding to see others move up the ladder of success because you played a part in their development.

Training and education should never stop, however, most times in most positions after initial orientation and training a training plan is not available or encouraged.  Why not you ask?  Because most organizations do not see the reward with the expense or understand the motivational environment it creates.  When not in property management I am a cast member for Disney diving with sharks.  Yes, I'm in the water with real very large sharks every day and it is awesome.    This is a company that not only encourages training and education, but has one of the largest divisions related to training and education in the country...if maybe not the world.  Maybe, just maybe, this is one of the reasons Disney is known for excellence in guest services and the many years of success.  When a need was identified related to a safety issues, my coordinator asked me to develop operating procedures and head up the training program.  No long drawn out process, just do it.  Whow, what a fresh and welcoming way to enhance education within our group.  When a need was identified to conduct shark suit training for our aquarium team, I was again approached since I had training in that area.  Want to take a course to take you to the next level, Disney has one for just about every area and subject matter.  Have to say, Disney does it right!

Part of the reason for promoting education and training is helping to not only develop, but identify new talent.  Who will lead your organization in the future?  What exceptional talent may you loose if you do not identify future stars?   Leaders look for opportunity and new responsibilities, and true leaders are never complacent with where they are at and where their team is at.  I remember a young man I had once in a CAM class I was teaching.  His responses, attention, and openness told me he wanted to learn and had great potential.  I had the opportunity to work with him as his regional and he says with my guidance developed leadership traits he has today.   He later when on to become a Regional Director and has truly become a leader and someone who also sees the abilities in others.  One of my proudest moments of many similar stories.

 Seek out new talent through education, training, sharing, and believing.  Find ways to make education fun and exciting.  Develop a strategy to identify the leaders of tomorrow, and in the process you may find you are educating yourself.  Developing new talent does not have to be difficult.  A little training, motivation, education, and inspiration can take any team to the next level and in reaching new goals.  If it isn't there create it!  If not provided, seek it and find where you can learn!  If you desire it, ask for it! 

Managing My Marketing

If it's not broke, don't fix it!  We have all heard that expression and at times maybe even used it.  Problem is, when it comes to marketing it may not be broken, just not maximizing your return which in my opinion is the same thing as broken.  Marketing mediums are not all alike, and the efficacy of marketing mediums depend on many variables.  What demographics is the site or publication hitting, what is the distribution and is it hitting your target market?  How easily can content be updated and changed, as well as who can make these changes and how quickly?  How is the traffic tracked, and what data do you get for follow-up and what segments of data are available to help you understand the profile of your guests?  How can you determine which mediums create the most benefit from the expense?  What mediums should I be in and how can I provide rationale to ownership and management to add marketing dollars?  How is technology changing how I market, and how do we stay ahead of the curve when contracts are signed for long obligation periods?  And last but not least, is your message driving leases or just phone calls?   So many questions, so little time to write...so we'll touch on a few of these area!

Let's start with all the options we have and the different mediums trying to vie for your marketing dollars.  Having prepared hundreds of budgets and managed for owners, REIT's, and third party companies, ownership (and upper leadership in some cases) is not always understanding to the expense side of the financial and budget when it comes to marketing dollars.  We are constantly asked, "How can we minimize or reduce expenses and is what your asking for absolutely necessary?"  We must also acknowledge every marketing provider can say, "We are the best."  So, how do we know we are putting our marketing eggs in the right basket and can get the maximum result to increase revenue and occupancy?   Not all of the questions are aimed at marketing mediums nor do they place responsibility on them.  First line of responsibility is with us as property managers and business owners!  Do your homework, check references and statistics yourself, verify your analysis with someone you trust, listen to others, and be prepared to justify your recommendations and decision. 

I have always been an advocate of looking at leases and not just leads when reviewing and analyzing marketing mediums.  This is of course assuming you believe your team is doing the basics related to what I call "first position" leasing.  What is "first position?"  Well, glad you asked.  Are they great at handling telephone leasing and are they maximizing conversion ratio's from call to visit?  Are they quantifying the marketing source that lead them to the call or visit?  Are they performing effective and timely follow-up?  Are they superstars when it comes to leasing and closing?  If so, the next step is looking at your message.  What am I saying in my advertisement and is it generating interest to get the call and the visit?  Is my message in the ad representative of the property being presented?  Last thing you want is your ad gives a Class A feel and a Class C visit.   When you ask these questions and go back to the lead versus the lease analogy, leases put money in the bank...leads do not! 

Second position is content, the words you choose, the pictures and other content presented, and does the ad hit your target market.   Once again does the message fit the community and is it motivational (create action to call or visit)?  What do you use as bullet points and what order do you put them in?  What are you saying in your "paragraph" section, and are you keeping it brief because we all know people review advertising today in bites and more is not necessarily better?  Do your pictures really tell a story and are they representative of what the guest will see upon visiting your site? 

How do I convince ownership or upper leadership to give me more marketing dollars, or in some cases keep what marketing dollars you have had?  First question, have you answered all the questions already talked about above and made good decisions in the past to provide a basis for justification of what you are asking for?  If not, your chances are already reduced.  Second, prepare a CBA or Cost Benefit Analysis for what you are asking for or trying to justify.  Basically, you have to sell your marketing dollars just as you would a budget.  Those that have attended my "How to sell a budget" workshop know what I am talking about.  Call references and document the contact and their results.  Compare apples to apples with your analysis related to the  type of community, advertising mediums used, leases provided, leads produced, and personnel.  A well prepared, documented, and presented analysis and plan can make the difference between getting a yes...and having to hear a no!

So, what is the answer?  Not all the questions I have raised have been answered and maybe the answer is in all the questions I have raised.  My intent here is not to give you all the answers as every community, ownership, and medium is different.  My goal is to get you to open your mind, really think through the process, and ask the right questions.   I could write an entire article or even a book on this topic (wait a minute...I have), and have only scratched the surface in how to look at marketing.  Knowledge is not in having all the answers, but knowing where to find them.  

Traits of a Leader

When I do seminars on leadership (my favorite topic and the most requested), I am often asked what are the qualities of a successful leader?  In asking others what they seek and desire in leaders, the answers are as varied as the weather in Florida. So what do you look at in qualities and why?  In my studies I also find it depends on many variables such as type of position and industry, level of workers and leaders, and more importantly how involved leaders are with their teams. A few of the top qualities include honesty, a great listener, effective communicator, a sense of humor, believable, passionate, fairness, trustworthy, and of course decisive.  Those that have followed my blog know I have written on this topic before, however, a recent discussion I had a with a friend raised my interest to write on this further.  I received a call from this person saying my name came up in a seminar when a question was asked, "Have you had a leader you admired and you felt really listened and cared about their subordinates."  Two people I had previously worked with responded and I was told the response directed at me.  Talk about raising my spirits when i got the call.  Thanks Bryan and Travis, I also admire and have a high degree of respect for you as well.  Let's look at a few of the more subtle but equally important qualities.

Sense of Humor - Yes, and I don't mean able to tell a joke!  Being able to laugh and sometimes at themselves, able to use humor effectively and taking into consideration sensitivity issues, and making the work environment fun in a motivational way.  I remember one time challenging my team at a property to getting forty leases in a month, a feat that had never been achieved at this particular site and a goal many thought unachievable.  Well, after first showing them how it could be achieved by how it was presented (not just presenting it as forty leases but less than 1.5 leases per day an amount that was possible), I offered part of the prize for me to stand in front of the property in a banana costume holding a sign saying, "We have apartments with appeal!"  As soon as I said what I would do the first question was "for how long?"  I said I would do it for two hours, and the Assistant Manager said, "Give us three hours and we'll hand out bananas to guests."  Needless to say, I look great in a banana costume and the team exceeded the goal by doing forty two leases.  One of our greatest leaders known in time was Winston Churchill, and he was known for having a sense of humor.  At a dinner one night he was telling some let's say sensitive jokes to which one lady at the table took offense to.  The lady said, Mr. Churchill, if I was your wife I would consider putting poison in your drink.  Without missing a beat he turned to the lady and said, "Madam, if I was your husband I would drink it."

Being Decisive -  Teams will follow a leader who is not afraid to make a decision, and will not follow someone who indecisive.  Making decisions is critical, and the end result making decisions that the team can relate to or understand is equally important.  Providing the "why" in addition to the "what" develops an understanding of the rational behind a decision, especially one that might not be accepted by the team without it.  Leaders make decisions all the time, however, seldom share the why behind it.  This can create a misunderstanding of a task or goal, and not allow for acceptance of what is to be done.  We need to get forty leases this month.  Why?  Well with having a higher number of lease expiration's and an above average number of notices, this will allow us to meet budget and maintain our chances of meeting bonus.  Now they understand the why behind the what. 

Willing to share the glory - Too often leaders or managers are quick to be critical, and slow to share praise or not praise with sincerity.  If someone is doing a good job let them know it and share it with others, and equally as important praise quickly.  Be specific about the praise by telling them "specifically" what they did well and ask them what they believe were key factors in doing the job well.  You probably will learn about what motivates them, and they will also take away a feeling you are truly caring about accepting input related to the task.  By asking questions and being specific about the accomplishment, a team or team member will accept praise as sincere and believable.  If we constantly just say, "good job" without specifics, after while they will look at the praise as simply lip service. 

Able to listen effectively - Team members want to know you are listening, and listening with understanding and compassion.  There is an art to listening as a leader and I hear way too often, "We think they are listening but nothing is ever done or they really don't care."  Acknowledging you are listening, repeating what you heard to create understanding, and helping them understand your limitations in what can and cannot be done will develop a path where they know you are listening and not just being a sounding board.  Listening also means asking for feedback and sometimes their input on solutions.  None of us knows all the answers and others just may have a better solution.  My wise and wonderful Father once told me, "Knowledge is not knowing the answers...but knowing where to find them." 

I could write for days on this, however, everyone looks at leadership differently.  What I hope to generate from this is discussion and thought processes related to what you look for and why, then share it with others.  Now go lead!
 

Inspiration

True leaders know the definition of inspiring others.  Leadership has been described as “a process of influence in which one person can enlist the aid and support of others in the accomplishment of a common task."  Since none of us works in a vacuum, it takes a team of others to reach goals and objectives.  That being said, how do we inspire others to excel and exceed as leaders?  Each of us are individuals, so each of us may be motivated for different reasons and in different ways.  However, there are basic principles great leaders look at to create the inspiration related to a motivational environment.

1.  Develop an understanding of the jobs others do.  Leaders know their people and the jobs they are entrusted with.  Having a leader-team member interaction and communication can be extremely helpful.  Leaders often depend on mid-level associates to develop this level of understanding and communication, and since we are human interpretation of the job and associated challenges can be subjective.  Getting out in the trenches so to speak can provide a better understanding of the tasks at hand which can lead to solutions when challenge arise.

2.  Sharing the goals and target so everyone can reach it.  I have always had a saying, "You can't hit a target if you can't see it."  This is especially true with goals and objectives for teams, and sharing those goals and objectives helps them understand what they need to do and as we will discuss in the next principle the why.  This communication is critical, and more important if the goals are specific.   A goal may be to provide great customer service.  Problem is everyone's definition of great service may be different, just as the customers expectations may be different from one guest to the next.  To state a goal of having no less than a nine rating on customer responses out of a potential ten score and then helping the team understand what it takes to get a ten will produce greater results.

3.  Share the why as you show them the way!  Leadership is about steering the team in the right direction and getting others to follow.  Anytime leadership provides a course just like in the operation of a ship, directives have to be given and commands made.  Effective leaders will share with a team why a directive is given, and what the anticipated result is.  This assists not only those in direct line positions to meet expectations, but also helps mid-level individuals make small course corrections and support open communication with the team.  An example might be with a manager asking them to provide a market report and update on competition out of a normal cycle.  The manager wonders why this is being asked, and may not understand the necessity of the task.  If communication is made the report is being requested because ownership is looking to expand within a market and this will assist with necessary data in making an accurate and comprehensive look at the options, the manager now understands the why and with the addition input of "accurate and comprehensive" in the wording has a better chance of providing what is expected.

4.  Don't be afraid to get your feet wet!  I remember a case when this was not only figuratively but also literately the case.  In 2008 Tropical Storm Fay dropped a record rainfall (over 18 inches) over several days on the East coast of Florida.  Entire areas of Melbourne, Florida were under water and storm drains backed up unable to handle the amount of water.  One of my communities I managed had 1/3 of the apartments sub-grade, which means half above ground and half below ground level.  There was no storm drainage on the entire 180 apartment site, and the two retention ponds were now spilling over into the grounds and parking lots.  During the storm I traveled to Melbourne and in communication with the team found out I would not be able to drive to the office as the parking lot was under about a foot of water.  After making a stop at Walmart in Orlando and buying wader boots for myself and the staff, I made it to the site after having to divert my drive with several roads impassable.  I showed up in waders (handing out extra pairs to the site maintenance team), and then walked the property communicating with the residents and making plans for disaster recovery.  Phone in hand I am calling restoration and pump companies, with water almost as deep in some places as my boots.  A great leader sometimes has to go to the front lines to see how the battle is progressing.

Leadership is more than the four points above, and inspiration comes in may ways and may be different in various positions and with various teams.  Finding those things that motivate and inspire are part of effective leadership, and finding new ways to inspire and motivate means not being complacent.  Life changes, business changes, our customers change, and technology changes.  Why should we not be believe finding inspiration with our teams will not change as well is foolish.  Inspire yourself to inspire others.  They will take you farther in your career than you can go by yourself.   Now go lead.

When opportunity knocks...answer the door!

I have been fortunate to in my career to have many experiences and blessed to have worked with some fantastic teams and people.  In addition to the people I have worked with, I have also had the opportunity to work in some interesting and challenging positions.  After serving my country in the US Navy and seeing the world (28 different countries), finding my place in property management was a series of events that all seemed to fall into place.  While spending my second enlistment in Great Lakes, Illinois I decided to follow my fathers footsteps and get my real estate license.  He was not only a great leader and father, but also my best friend.  He owned his own real estate company and was known by thousands for his real estate knowledge and passion for helping people find the perfect home.  You can say real estate was in my blood, and some how I knew it would be a part of my life.  Evenings and weekends I would list and sell homes, and in fact in my first week as a rookie sold a 1.2 million dollar listing.  Of course as things will happen, I didn't sell another home for three months.

After deciding to leave the service I interviewed with Allstate Insurance Company for a customer service supervisory position.  While real estate sales was something I had a knack for, having the demands of raising a family meant I needed a steady paycheck.  During the interview at Allstate the placement specialist said, "I see you have a real estate license.  What do think of property management?  We have an opening as Property Supervisor."  Of course I said yes, and the rest is history.   From commercial office property management early in my career to managing shopping centers, this was the beginning of what I was to do and who I was to become.

After completing and supervising an $8.2 million dollar renovation of an enclosed mall in Greensboro, North Carolina, life was good.  The mall looked great and grand opening was a hit, I was enjoying raising my daughter as a single parent , and had just met a fantastic lady who was to later become the love of my life.  New stores were opening up, traffic and sales were increasing, and everything was coming up roses....then it happened.   One of the owners came into my office and said, "We're selling the mall and the new owners want to bring in their own team."  What?  This can't be happening!  Yes  it was and I could have easily hung my head and cried in my beer.  Instead I picked up the phone and made some calls including one to the owner of a company I had met in Greensboro who had both commercial and multifamily assets.  He remembered me from a Chamber of Commerce function and said he had nothing in commercial but asked if I would be interested in interviewing for a regional multifamily position.  Being someone who believes if opportunity knocks you at least answer the door, went to the interview.  A couple of days later was offered the position and the rest is history and my introduction into residential property management. 

Later as many of you know I started teaching, first facilitating CAM, CAPS, and NALP classes for a local association.  Training and education was fun, educational, and something I had a passion for.  At one point started my own company giving workshops and seminars all over the country, again moonlighting in residential sales to subsidize my speaking habit.  Then back to regional management, and now on the speaking circuit again, this time swimming with sharks when not consulting or training.  Those of you that know me understand I have a passion for this business and to think it all started with a question, "What do you think about property management?"  So the next time opportunity knocks, at least answer the door.  Who knows, it just may lead you to greatness and opportunities beyond your wildest dreams.