The property management industry isn’t new, but that doesn’t mean there aren’t still plenty of fresh, new and breakthrough ideas to be shared. In fact, given the intense competition in our field, the ability to think outside the box, push the envelope and carve new pathways is what will ultimately place your company a step ahead of the rest. But if you want a business where innovation thrives, you must intentionally work to create the right environment. Here’s how.
Everybody knows that failure is a precursor to success. It’s not how many times you fall, but how many times you’re willing to get up, dust yourself off and try again that matters. When you accept that failure is a natural part of the learning process, you’ll be well on your way to developing a culture that breeds innovation. Encourage your employees to take chances and develop a consistent feedback loop. Over time, these trials and tribulations will eventually lead to something remarkable.
The most innovative discoveries began with a simple idea. The more your property management team is thinking, creating and sharing the more your odds of producing that winning idea will increase, so make idea generation a habit rather than an afterthought. Make your office one in which ideas and suggestions aren’t just allowed, but actively encouraged and when those interesting or creative concepts are brought to the table, put step one into action and experiment.
Perhaps Steve Jobs said it best when he said, “If you’re going to make connections which are innovative, you have to not have the same bag of experience as everyone else does.” In other words, if you want to create a culture of innovation, you need to diversify your experience. Step out of your comfort zone and encourage your team to do the same. Accumulate new experiences, both personally and professionally. Be intentional about recruiting people who bring diverse backgrounds, experiences and perspectives to the table.
Obviously we’re not suggesting that you create dissension within your team. What we’re referring to here is the good kind of conflict. When people are allowed to disagree with the ideas of others and offer constructive criticism, those ideas can be collectively nurtured from good to great. Establish an environment within your property management company in which employees are assured that their opinions are welcomed and valued. When your team is comfortable being vocal, the quality of your services will naturally rise.
Become customer obsessed
Your property management company exists solely to serve your customers. The more value you deliver to them, the more they will continue to reward you with their loyal business. When you place your customers at the center of all that you do, you’ll become much more intimately familiar with what their needs, preferences and pain points are. This will enable you to come up with new, innovative ways to serve those needs, address those preferences and solve those problems. Solicit feedback from your customers every chance you get and then brainstorm with your team ways to improve the experience.
How about you? Have you found ways to be more innovative within your company? How are you sparking ideas that could potentially revolutionize the property management industry? Please share your thoughts in the comments below!