As the economy softens we will all get a Reality Check, like it or not. Irrespective of our own often times flawed perception of reality; a tougher economy will further create pressure to perform better than your competitors. The fractures in your performance will begin to surface quicker than normal. What are you doing to separate and insulate yourself and your company from these troubled times? Doing the same as you did yesterday will not yield any improvement. The interesting thing is, some companies will emerge better from these challenges.
I was fortunate enough to participate in Seth Godin’s experiment with Tribes, and I quote herein from his recent new book release, Tribes; (Download a free audio version) “Heretics are the new leaders. The ones who challenge the status quo, who get out in front of their tribes, who create movements. The marketplace rewards and embraces the heretics. It is clearly more fun to make the rules than to follow them, and for the first time, it’s also profitable, powerful, and productive to do just that.”
What are you doing to Break From the Pack of Apartment Commodity? We do not send out paper leases. The lease, a floor plan, emergency numbers and some unit pictures are given to the resident at Move In on a thumb drive, which is also a key chain with our logo on it. Being able to walk away with all of the lease information on a tiny thumb drive that the resident can also use to store additional information has created a “Cool Factor”, something worth talking about. This idea may not bode well if we were in the senior housing business, but does resonate well with our target demographic. You can try that too, it is cheap, and separates you from the guy across the street.
What ideas are you implementing to create you own Blue Ocean? I would love to hear from the community.
Eric’s background is rooted in the rental and real estate industries. He founded metro Detroit’s Urbane Apartments in 2003, after serving as senior vice president for a major Midwest apartment developer. He established a proven track record of effectively repositioning existing rental properties in a way that added value for investors while enhancing the resident experience.
He also established The Urbane Way, a social media marketing and PR laboratory, where innovative marketing ideas are tested. Eric has been featured in Entrepreneur Magazine and Business Week Magazine.
You can connect with Eric_Urbane on Twitter.
Eric also writes regular articles for the following publications;
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