During the past few years, we have experienced good times and bad, a phenomenon distinctive to many industries, not just real estate. It is easy to remain positive during a boom, but how do you concentrate on “draining the swamp when you are up to your armpits in alligators?”. Andrew Coronis gives his opinion.
Strong leadership will always pay dividends
During the past few years, we have experienced good times and bad, a phenomenon distinctive to many industries, not just real estate. It is easy to remain positive during a boom, but how do you concentrate on “draining the swamp when you are up to your armpits in alligators?” Andrew Coronis gives his opinion.
The essence of inspiring and motivating your team in a tough market is one of the hardest disciplines to get right, andI am convinced that strong leadership is the vital ingredient in making the most out of good times and bad.
Firstly, I must say we are in the business of inspiring people the reach their own goals. As I heard once we are in the business of “motivated people” – we are not in the business of “motivating people”. As the leader of the business, my role is to ensure that I cultivate a consistent positive attitude throughout the team;inspiring them to do their best. These are the things I believe you need to focus on as a leader in order for your team to be successful.
- Vision. Every person in the team must have a clear understanding of the direction and objectives of the company.We do this through reminding people of our major dominant goal, which is called “Operation 50 offices”, (then “Operation 500 offices!”)
- Give Ownership. I am a huge believer in giving people responsibility for their own goals. I like to discuss the end goal that is expected, and then let people work out how to get there. Sure, they will make mistakes; they may even muck it up sometimes, but with some coaching the right people will always work it out.
- Follow the leader. In tough times, many leaders become very autocratic. This is the worst approach. People need you to get in the trenches with the team and inspire them.As their leader, you must forever be vigilant, not only to display an example of a positive attitude and high energy,but also to look for the opportunities in a tough market. Set an example of how hard work and dedication will inevitably produce the desired result.
- Look into their eyes. I spend one-on-one time with everyone as often as they feel they need it. Take positive action when you see any of your team feeling “down”. The best way I have found is to take them from the office, buy them a sandwich or a coffee, and ask them “What’s up?”
- What gets monitored gets done. I constantly monitor results in a timely manner. We have what is called our “Coronis cockpit”; all office results are live and posted in each of the offices on a huge screen. It is very public so everyone knows where everyone else is. This gives a sense of control over our results, so we know which levers to pull and when.
- Create Fun. In life we all want to have fun.Yes, results need to be achieved, but it does not mean it has to be a boring environment.It is a good leaders’ responsibility to add fun to the workplace. Whether it be quick lunches, fishing, bowling, paint ball, cricket, or going away,it gives us great opportunities in a non-work environment to bond and have fun as a team.We take what we do very seriously,but we don’t take ourselves seriously. Or, as the late Steve Jobs put it “Stay hungry and foolish”.
- Celebrate and Praise. I am publicly loud and long in my praise for any result that is worthy of mention and I encourage everyone to recognise great results in the same way. People will go looking for the praise and will have to get results to get the praise.We also celebrate the anniversary of anyone joining the team, birthdays, and anything special happening in someone’s life.
- Basic Training. One of the first things to go out the window in tough times is training. Our businesses are based on a very simple model: we must prospect for a home seller, list the home seller, manage the home sellers expectations, and sell the home. Many people try and over complicate their training. Our training, external and internal, is based around the basic actions. If the basics are well executed, the results will follow.
In a tough market, you as the leader have to pick up the ball and run faster. If you can do this, I am sure your business will prosper while your competition continues tostand still blame the market.
Andrew Coronis is the Managing Director of Coronis Realty. With fourteen offices across Brisbane, Sunshine Coast and the Gold Coast as well as a Training Centre in Brisbane, Coronis Realty works closely as a combined team of dedicated sales, property management and administrative professionals. For more information visit www.coronis.com.au.