Change is good.Maybe you have a new supervisor. Perhaps your company is implementing new software. Or possibly you have been transferred or a new management company took over your community. What each of these situations has in common is change. The fact that change is frightening isn't surprising, but change can be a great thing--it can make you and your company more successful than ever. Not convinced? Consider these stories of change. America's lettuce lettuce, annual garden plant (Lactuca sativa and varieties) of the family Asteraceae (aster family), probably native to the East Indies or Asia Minor, possibly as a derivative of the widespread weed called wild lettuce (L. scariola). L. growers were losing money at a staggering rate. Their solution: change their major product to a prepared salad in a bag. Salad in a bag has become a $1.7 billion business in only seven years, rescuing the lettuce growers. Apple Computer Inc., the company that created iPod, wasn't satisfied with being just another creator of MP3 players A digital music player that supports the MP3 format, which was the audio format that started a revolution in online music downloads and distribution. All portable music players, the iPod being the most popular, support MP3 along with one or more other audio formats. , so it created iTunes, an online music store A Web-based service that sells copyrighted songs and albums for a fee. With Apple's iTunes being the most popular, an online music store is a legitimate music distribution organization that pays royalties to the music's copyright holders. . Nearly 1 billion songs have been sold on iTunes to date. Apple now sells more than 70 percent of legally downloaded music. Failure to recognize the need for change can open the door for a competitor. Sports Illustrated Sports Illustrated is the largest weekly American sports magazine owned by media conglomerate Time Warner. It has over 3 million subscribers and is read by 23 million adults each week, including over 18 million men, 19% of the adult males in the country. failed to view itself as anything other than a print magazine, which allowed its largest competitor, ESPN ESPN Entertainment and Sports Programming Network , to rule the world of sports television. If Sports Illustrated had viewed itself as a sports media Sports Media, Inc. (SMI) is a Sports Media and Marketing company that produces radio and television programming as well as representing professional athletes. 2002 Cowboys Live - Hosted by Dallas Cowboys Joey Galloway company, ESPN many have never gotten its foot in the door. See, Feel, Change To successfully promote change in any organization, leaders must create an environment conducive con·du·cive adj. Tending to cause or bring about; contributive: working conditions not conducive to productivity. See Synonyms at favorable. to change through a simple three-step approach. Step 1: See. Show why change is needed. Perhaps it is to increase efficiency or to cut costs. Whatever the mason, it is necessary to convey the "why" of the change, which keeps staff from speculating and fearing the worst. Step 2: Feel. Minimize staff members' negative feelings while creating in them a sense of ownership. Show how important their roles are in not only creating the change, but in ensuring its success. Stop 3: Change. Emotionally charged ideas change behavior, enabling the change process. A Case Study in Change CAPREIT, a Maryland-based REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). with communities in 15 states, successfully created change in its organization with its "Pre-Loved Carpeting" program. Acknowledging that carpeting was the largest expense at its apartment communities, CAPREIT devised a program in which apartments were leased with "used carpeting" that had minor imperfections. CAPREIT was asking its leasing professionals to make a huge change: to lease apartments with less-than-perfect carpeting. How did CAPREIT do it? Step 1: See. CAPREIT showed its team the cost of carpet replacement and how it significantly affected the community's budget. Step 2: Feel. CAPREIT realized that it needed buy-in Buy-In When an investor is forced to repurchase shares because the seller did not deliver the securities in a timely fashion, or did not deliver them at all. Notes: Those who fail to deliver the securities will be notified with a buy-in notice. from all associates, particularly the leasing professionals, so the company established a training program. Step 3: Change. CAPREIT taught its team to lease these apartments by taking a more value-based approach to the leasing presentation and by increasing the rents on apartments with new carpeting by $25 per month. The company-wide training program reinforced the importance of maintaining the value of the CAPREIT asset. The year that the program debuted, CAPREIT reduced carpet replacement costs by 18.4 percent without any noticeable reduction in closing percentages. Remember, if you keep doing it the way you've always done it, you'll get what you've always gotten. 30 Days of Dedication working through change is different for everyone, but there are two key strategies to surviving personal or professional change. 1. Stay focused on the positive outcomes of the change. Don't dwell on dwell on or upon Verb to think, speak, or write at length about (something) Verb 1. dwell on - delay linger over what might happen. Maintain a positive attitude and "keep your eyes on the prize Eyes on the Prize is a 14-hour documentary series about the American Civil Rights Movement that aired in two parts. Part one, six hours long, originally aired on PBS in early 1987 as Eyes on the Prize: America's Civil Rights Years (1954-1965). ." 2. Stick with the program. Experts say it takes at least 30 days to form a new habit. Give your change program 30 days--probably more. Lisa Trosien has more than 20 years of industry experience. She can be reached at lisa@apartmentexpert.com. |
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