Welcome back! I hope you take some time to rest, refresh, and recharge during the holidays. If you have been following the news lately, you’ve likely experienced some good and bad, ups and downs. There are so many uncertainties with global events, such as Brexit, US-China trade war, potential recession coming, and possible US-Iran war. It is hard to predict how 2020 will plan out.
During these troubled times, any organization that embodies positive leadership qualities will strive, especially in real estate where good thought leadership will help navigate our rapidly changing, complex, and fragmented industry.
After chatting with some experienced industry leaders, we have identified three critical aspects:
1. Be at the forefront, as a true leader
A leader needs to be at the forefront of the team. From Jim Collins’ book “Good To Great”, he describes the “Level 5 Leadership” of an organization (the ultimate top leaders) as having 7 key attributes:
(i) Be ambitious for the organization to excel but modest about what you contribute.
(ii) Be fanatically driven, obsessed even, to produce exceptional results on a sustainable basis.
(iii) Build successors to be even more successful.
(iv) Share the praise amongst the team when things go well.
(v) Be happy to take the blame when things go wrong.
(vi) Never have larger than life personalities.
(vii) Greatness comes from quiet, hard work, rather than heroic acts.
For more information, I would suggest checking out his book. As a true leader, you need to set yourself at the highest standard to allow your team to follow.
2. Transparent communication
As a leader, you might face stress or a tough decision to make. Do not put the problems just on your shoulders – share the burden with your team and tell-it-like-it-is to ensure the free flow of information. By sharing decision-making tasks and involving multiple people during brainstorming, your team can generate ideas freely in your organization to help solve problems together.
3. Actively listen to your team and make this a priority
In this environment, you need to evolve with the market swiftly and adapt to change with growth in mind. To spot these subtle movements, you need to actively listen to your team carefully. Exceptional leaders regularly check-in with their team. From their conversations, you might find cues in your team spot that you have not. Also, learn what they suggest (process and tools) that might help your organization be more productive.
Great leaders, whether you are in the real estate or the PropTech sector, need to continually find ways to improve and respond to the market so that their organization will be at the forefront of the exciting changes. You, as a leader, are in charge of finding the areas where change is needed. Be the version of yourself and strive for betterment.
As a leader, what is your biggest pain point? What innovation do you hope to see more of within your organization and the sector? Let us know in the comments below.
Above and beyond,