Magazine article Journal of Property Management

Know Thyself: Your Purpose and Your Players Are Your Two Greatest Assets: Take Care of Your Employees and Your Marketing Will Virtually Take Care of Itself

Magazine article Journal of Property Management

Know Thyself: Your Purpose and Your Players Are Your Two Greatest Assets: Take Care of Your Employees and Your Marketing Will Virtually Take Care of Itself

Article excerpt

Thank goodness for Lou. As general manager and the "face" of our high-rise building, he was responsible for over 1 million square feet and several thousand employees. Every day during office rush hour, Lou was at the front door greeting everyone. I should explain that when our company acquired this star property, we also acquired its team. Marketing our building should have been easy, right? Not so fast. We were new in the marketplace and had not yet established our reputation and credibility. Marketing was tough. What made all the difference? Lou. He and his team were our very own best kept secret.

[ILLUSTRATION OMITTED]

When it comes to differentiating your property and your company, be sure to tap into these key drivers:

KNOW YOUR PURPOSE. Recently, I stepped into a team meeting at a mid-size management company. The company had a marketing conundrum: they were losing clients and couldn't seem to determine the root cause. Then the light went on. Their marketing was ineffective, but not in the predictable way. We were discussing the company's values and overall objectives for the coming year with the employees when I realized it was really, really quiet. You could hear crickets. After some digging, I found out why: The team had no idea where they were headed. In fact, they had no common identity as a team. Was this all too clear to their clients? You betcha.

What do today's teams need most? Ask any millennial and you're sure to hear that believing in a company's purpose is at the top of the list. Take a tip from Harvard Business Review's The Secrets of Great Teamwork: A shared mindset smoothes the way and is an essential factor in setting your employees up for success. …

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