What’s your superpower?
“If you had a superpower, what would it be? This great icebreaker question came up at a networking meeting. Many folks wanted the superpower of invisibility, shape shifting and telepathy. Others wanted the ability to fly or have superhuman strength. Many commercial appraisal firm owners feel miles away from what it feels like when they first opened their doors. Reach back to that entrepreneur superpower.
- Manage Time
No. 1 Prioritization. What are the top three things you should be doing right now for your success? Consider the Great Game of Business style open book management with metric reporting, E-Myth style documentation, Phoenix Project style office culture and the 4-Hour Workweek style outsourcing.
No. 2 Manage Time. Consider using apps like Toggl to determine the actual time you’re spending on various tasks such as comp management and report writing. Those appraisal firms with no technology are feeling the negative power of kryptonite. Getting weaker, less competitive. If you already have a report writing solution in-house, is it being used equally successful across the board? If not, have a conversation. Create a success plan. Hold people accountable. Measure performance. Seek coaching if you’re not maximally productive.
No. 3 Document. You would think appraisers would be better at documenting. Comp management is the basics, but what about everything else? Go back and look at the last 10 appraisals your firm created. If you deleted all the subject info, comp data, analysis, exhibits and boilerplate, what’s left? Custom work. I call them value chunks.
Maybe you presented a great discussion on opportunity zones, business valuation on a hotel or contributory value discussion. Whatever. The point is this custom work should be saved, shared, and leveraged by others in your office. Teamwork has rarely been part of the appraisal education. Having the shared think tank differentiates. It energizes your firm.
My superpower? I answered “Cardio Man.” The ability to fight crime and never get tired. Have the endurance to go the distance. Stamina. I don’t think Marvel comics will be calling me anytime soon. Sometimes superhero can be defined as an image representing the hope that someone can and will stand up to do the right thing. What’s your superpower?