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In our last post we suggested that you Change the Game and Change the Rules, but where to start? Perhaps by addressing the four listed below questions. To be really effective, ask different folks at different levels of your organization. Assuming you are not running a fear based organization (note to self, if you are running a fear based organization, stop now, your employees are pissing on you at every opportunity) you will get feedback that could well change how you do business in 2009. You can Change the Game with these questions.
• Which factors in your industry are routinely taken for granted that should be eliminated?
• Which factors in your industry should be reduced well below the industry standard?
• Which factors in your industry should be raised well above the industry standard?
• Which factors in your industry should be created that the industry has never offered?
When we did this at our own small business, a boutique apartment management business, one of the items was significant enough to raise our revenues and decrease expenses enough to increase our Cash on Cash Returns at the properties by several percentage points.
Seth Godin had an excellent post regarding some of the silly things businesses do. "The bitter taste of nickels and dimes"
It provoked me to ponder about the things that we do in the Apartment World that create separation and aggravation with our residents. One such is an extra fee or charge to go to a Month-to-Month Lease. We have this argument regularly in our own office. It is pretty silly to penalize a great resident because they want to stay longer. We are saying sure, you can stay longer, but it will cost you more tomorrow than what it did today, yet we have added no additional value, only exasperation. There certainly are the pressures from lenders and partners to not have month-to-month leases and the unexpected vacancy that can occur quickly. However, it really makes no sense from the resident's point of view. Perhaps we should completely abolish this silly rule or to Seth's point do we waive them early and often to create Delight?
What silly things are you doing at your company that you should let go of? We welcome an open conversation surrounding this, it is important stuff!
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