Introducing Insights #1From Alister Maple-Brown, CEO, Rockend.
It has been a privilege for Rockend to be a part of the inaugural Transform PM program this year. This program provided four agencies with the opportunity to take a step back and analyse their business with the guidance and coaching of industry professionals. Over the nine weeks it has been fascinating to see how both the individuals and businesses have evolved, and during the next twelve months I believe their true transformation will begin. To conclude this experience, all participants came together for a round table discussion.
We centred our conversation on the lessons in the program, assessing the transformation of each agency and hypothesising the future challenges for each business. The outcomes and findings of this discussion are the basis of this publication, which highlight the key findings from the Transform PM program. While there were many themes which resonated with me from the round table discussion, here are my personal highlights from the program.
STOP AND RE-EVALUATE
It is easy to be so caught up in our daily ‘business as usual’ activities that we don’t stop and evaluate whether we are operating in the best way for our business or customers. This was the most significant take-out from all the Transform PM agencies. By taking the time to look at the business from a bird’s-eye view, the principals could objectively evaluate and oversee the inner workings of their business. This allowed them to start developing short-term plans for improvement. In the nine-week time frame, principals had already seen some of the new strategies and processes taking effect, with team members responding to the change and breaking away from the way ‘things have always been done’.
As a part of creating new strategies and processes, there is a business requirement for a certain level of delegation – but it can often be challenging to delegate tasks which you have traditionally completed yourself. The process of delegation is not something that should be viewed negatively within a business, rather, it is about maximising the skills within your team to complete tasks efficiently. One significant learning for all the Transform PM agencies was how to delegate in an effective manner. Clearly articulating the business objectives of the task at hand and why a certain team member was suitable to complete the task were the two crucial elements which enabled people to delegate more effectively, whilst also empowering their employees to see the bigger business picture.
A pivotal topic of conversation was the important role technology plays within an agency. Today, technology underpins the workings and processes of any business. All agencies agreed that there is a need to have data readily accessible and to use technology to drive processes. All the coaches and principals recognised that the correct use of technology in their business can automate time-consuming and laborious but necessary tasks, making for greater efficiencies. The reliance and need for powerful technology within a real estate business will only continue to grow into the future as it enables us to do and be more than we are today.
These three areas were recurring themes throughout our day of discussion, as well as over the course of the Transform PM program. I encourage you to take the time to read through this publication; I’m sure you too will find valuable ‘insights’ to help shape and grow your business.