by Adam L Stanley | Jul 2, 2015 | Technology
Real Estate Technology: Riding a wave of change
Kodak missed a tipping point and went bankrupt. Blockbuster Video fought the wrong enemy and went bankrupt. Taxi drivers, hotels, travel agencies, and so many other industries are now fighting less against themselves than against new entrants that actually seek to solve a problem, to fill a need, to change old norms. Perhaps more so than most of these industries, the commercial real estate industry has been slow to both recognize and embrace change. I am convinced messenger service companies remain in business solely because the CRE industry continues to mistrust the transmittal of critical documents to anyone or anything not human!
But that is changing, and it is changing fast. The next big thing for our industry, if we are not careful, will happen without the industry’s current players. And the industry is finally waking up. The influx of tech-dependent Millennials into the workforce, combined with increasing pressure to streamline communication and access to information, has made inroads into the business practices of even old-school brokers and traditional owners and investors. They have begun to recognize the importance of innovation beyond just the in-house research listings database and better presentation tools to both new business development and current client service.
As a result, attention (and, therefore, funds) devoted to technology for commercial real estate have skyrocketed. Company-sponsored competitions between internal groups complement existing IT resources in the quest for innovative ideas, while former real estate professionals, now tech innovators, are filling known informational and service gaps with external all-in-one marketing, database or analytics platforms, digital mapping and other architectural applications, and automated building management systems. Beyond that, we are finding more players from outside of the industry finding ways their tools and technology solutions can meet our needs. And much of the activity is being driven by incubators and accelerators like 1871 in Chicago, MetaProp in New York, and new players like Motives in Dallas.
I use this space to talk about leadership and trends in technology. I will talk more specifically about real estate technology over the next few months and will likely have guest bloggers from a few startups as well.
Thanks for continuing to connect with me.
Other related blog posts:
Thinking Like Our Ancestors
Excerpt: At the end of the day, perhaps disruption is a lot more simple than we make it seem at these mega conferences like OpenWorld. Perhaps disruption is simply a relentless focus on consumers: your clients, employees and investors. Dream every night of how you can better meet their needs and there is no way you can NOT disrupt your industry. Perhaps the only way you will get left behind is if you leave your consumers behind. Perhaps disruption is simply about a return to the past.
Facebook, Snapchat, and the new new thing
Excerpt: The bottom line is I don’t necessarily believe the Facebook is in its final days. I do believe, however, the company must drastically rethink their strategy and consider alternatives for growth in the United States. If they truly believe that growth in other markets will counter dramatic drops in USA, I believe that is misguided. Other markets will eventually follow the same path of the United States. Younger users will leave; older users will join the platform at a much lower level of engagement; upstarts will create the next next big thing and advertisers will be tempted away.
Innovations Changing Our Industry
Excerpt: In the interview, I discuss the rapid pace of technological changes in commercial real estate; the use of virtual reality for viewing property; DTZ’s use of analytics to help clients make smarter decisions; as well as the future potential for drones and the Internet of Things.
Be Well. Lead On.
Adam
Adam L. Stanley Connections Blog
Technology. Leadership. Food. Life.
AdamLStanley.com
Follow me on Twitter | Connect with me on Linked In | “Like” me on Facebook
by Adam L Stanley | Sep 30, 2014 | Technology
Thousands of years ago, traders of meat, skins, and grains met each other in open and transparent marketplaces. Quality was key to repeat business, and pricing driven by supply and demand. Winners in the market listened to the needs of the people they met and found new sources of raw materials and methods of production that better met these needs.
Today, I have joined Oracle for Open World 2014 in San Francisco. DTZ is here to co-present with Oracle some of the work we have done with Google Glass integrated with JD Edwards, our global property service. Sitting in this room amongst hundreds of technology leaders, I find myself struck by how quickly things changed and yet how much remains exactly the same as it was in ancient times of the cavemen.
Sure we talk about Internet of things, big data, digital transformation, the cloud, and other buzzwords. But the most fascinating disruption factor to me is the most basic element of commerce. And it is an element that has been important since the very first days when hunters traded their fresh game for vegetables and grains. Quite simply, it is the customer.
Every exciting trend, every new innovation, the growth of crowd funding, crowd sourcing, crowd planning, crowd protesting… All of it relates to a renewed focus on the consumer. Whether the consumer is an individual or a group of individuals, companies succeed based on their ability to meet the constantly evolving needs of the consumer. And they fail when they forget that the consumer is everywhere.
The consumer is your customers, more globally and digitally connected than ever. And unlike the traders of the early days, they can find your competitors within seconds versus months or years. And they want access to your products and services wherever they are and however is most convenient to them at any particular time.
The consumer is your employees, who are diverse in their backgrounds and their preferences for how to work. They want to have an experience at work that is better than or at least compatible to their experience outside of work. And they want to be able to move on when not challenged.
The consumer is your investors, who instead of putting all of their money in banks now have access to dozens of new currencies like Bitcoin. They need to be convinced that giving you their money is better than micro lending, kickstarting, crowdfunding or doing their own thing.
At the end of the day, perhaps disruption is a lot more simple than we make it seem at these mega conferences like OpenWorld. Perhaps disruption is simply a relentless focus on consumers: your clients, employees and investors. Dream every night of how you can better meet their needs and there is no way you can NOT disrupt your industry. Perhaps the only way you will get left behind is if you leave your consumers behind. Perhaps disruption is simply about a return to the past.
Be Well. Lead On.
Adam
Adam Stanley
Adam L. StanleyConnections Blog
Technology. Leadership. Food. Life.
AdamLStanley.com
Follow me on Twitter | Connect with me on Linked In | Like me on Facebook
by Adam L Stanley | Mar 23, 2014 | Leadership, Quotes and Inspiration, Relationships, Teamwork
Building relationships based on respect
People who have worked with me before have heard me on this particular soapbox quite a bit and for those I will suggest maybe they don’t need to read this particular blog. There will be nothing new here. That said, it is perhaps because I continue to hear stories from great talent I have met around the world that are working with people that still do not get it.
It is for these people that I write this blog.
Executives get busy and they get stressed. Markets start to squeeze and pressure mounts, causing many to revert to the old command and control techniques they used in prior decades. When the kitchen heats up, they forget the basics. I believe some need to be reminded of a basic principle that should be obvious to all: Organizations are successful when there is a strong relationship of respect among leaders at all levels.
Now, before I go further, let me be absolutely clear: effective leadership requires adapting your style from time to time to appropriately handle a given challenge. There are times for diplomacy, inclusion, and democracy (e.g., complex problem), and there are times for command and control (e.g., during an urgent crisis). However, underlying your leadership style, and regardless of the type of problem, the relationship of respect must prevail.
A relationship of respect requires three key elements: trust, accountability, and empowerment.
Every team that has worked with me over the past decade will have heard me speak explicitly of the three simple things that I feel are the most important elements of effective, increasingly global, teams. I sincerely hope that those that worked with me before that will see in this blog some of the elements of our team work that worked best even if we never put it to words.
Trust. Accountability. Empowerment.
You will notice that none of them involve bureaucracy, centralization, or added layers without added value! It also does not require being “nice”.
Trust: We must build and maintain levels of trust across borders and business units, recognizing the unique strengths and backgrounds of each individual. In companies that are complex, especially with multiple business units and geographies, the absence of trust can cause money, time, and valuable resources to be wasted on duplicated efforts.
Accountability: We must be a respectful organization and a collegiate one, but all of us must be held accountable as well. Accountability goes hand in hand with trust. When we all understand each other’s respective areas of responsibility and accountability, we create a culture of trust, and we can focus on the services and solutions we deliver and the goals we want to achieve without distraction.
It is important to note that accountability is as much about what is accomplished as it is about how it is accomplished. If you’re an a-hole, regardless of your delivery skills, people will find it hard to trust you and the relationship of respect will be difficult.
Empowerment: People must be allowed to make decisions and drive change without being micromanaged and without needing to get multiple approvals; they must be allowed to be leaders. Just as importantly, we must enable those whom we empower. Power without training is not a formula for success. Empowerment is about giving a person the ability to manage something tangible that adds value, but also about working with that individual to help him or her succeed.
Leadership is not easy, and successful teams are elusive to many people. But, with some basic focus on respect and these key principles, you will at minimum have the right foundation for success.
Be Well. Lead On.
Adam
Adam Stanley
Adam L. Stanley Connections Blog
Technology. Leadership. Food. Life.
AdamLStanley.com
Follow me on Twitter | Connect with me on Linked In | “Like†me on Facebook
by Adam L Stanley | Mar 3, 2014 | Leadership, Quotes and Inspiration, Relationships, Teamwork
A New Beginning
Every day is a new beginning. All of life provides opportunities for new beginnings. Whatever has gone wrong, or right, in your life, you can begin again.
Jonathan L. Huie
New beginnings can be nerve wrecking. You spend years building a team, finding the people you can trust to get things done and do so in a values based manner. You drive strategy and create value for shareholders. And you check off so many boxes, proudly getting to a point where you can finally rest and look at the great things you and the team created …. and then you move on to the next challenge.
YIKES!! So much for resting.
“Success is simple. Do what’s right, the right way, at the right time” Arnold H. Glasgow
If I’m honest with myself, I will admit that I will likely never get to truly resting until retirement (target TBD). The fact is, I love gnarly, complex, global challenges and am thankful I have found that in my new role.
Leaders at All Levels
I am incredibly excited about this new adventure and will enjoy getting to meet the new teams around the world. One concept I have constantly addressed that I expect will be highly relevant here is the fact that everyone in today’s technology organizations must be leaders. From time to time, everyone will be called on to make decisions, act independently, and respond to crises without time to go up the chain for days.
You can’t always wait for the guys at the top. Every manager at every level in the organization has an opportunity, big or small, to do something. Every manager’s got some sphere of autonomy. Don’t pass the buck up the line.
Bob Anderson
I blogged about this a while back with “Leaders at All Levels”
Chicago
I LOVE Chicago, the place I have called home for so many years. And I love having the opportunity to give back to the community in which I love. Living in London over the past two years was an amazing adventure, the opportunity to more deeply explore another great city, and to work with colleagues in other European cities. While my prior role required that I moved to London for a while, I am confident that the relationships I built in Chicago will continue to grow. And, of course, I hope to see many of my friends from London throughout the year. Visit!!
As Marilyn Monroe said, “A career is wonderful, but you can’t curl up with it on a cold night.” So I expect my friends to trek on over to see me from time to time, share a lager or a cup of coffee, and warm my heart with their presence!
Let’s Go
Two great quotes come to mind as I contemplate the week ahead and my new adventure:
“If your work is becoming uninteresting, so are you. Work is an inanimate thing and can be made lively and interesting only by injecting yourself into it. Your job is only as big as you are.” George C. Hubbs
“You can’t build a reputation on what you’re going to do.” Henry Ford
I’ve enjoyed my time to reflect on the good and bad aspects of my prior leadership role, and the opportunity to give back via non-profit and civic consulting. But it’s time to go back to corporate, tackle this new and exciting challenge, and meet a new batch of great people with whom I hope to build something great.
Adam Stanley
Adam L. Stanley Connections Blog
Technology. Leadership. Food. Life.
AdamLStanley.com
Follow me on Twitter | Connect with me on Linked In | “Like†me on Facebook
This blog is a revision of a prior post.
by Adam L Stanley | Dec 18, 2013 | Life
When you carry out acts of kindness you get a wonderful feeling inside. It is as though something inside your body responds and says, yes, this is how I ought to feel.
Harold Kushner
Life is an echo. Karma is a …
Christmas is often the best time to see the true character of people. You see the good and the bad. You see those who find great joy in giving to family, to friends, and to those in need. You see those that seem to take joy mostly in receiving from family and friends. You see those that love unconditionally and show that love through physical and verbal manifestations of caring. And you see those that truly don’t seem to have an ounce of caring inside. Yes, the negative of Christmas is that sometimes it brings out the very worst in people or at least makes the bad that’s already inside much clearer. It highlights the negative like the bright lights on Michigan Ave in Chicago highlight the stores or the shiny garland and ornaments highlight Christmas trees.
Today, my soapbox message is a simple one and it is a message that has been delivered through centuries and ages. From spiritual leaders and deities, to actors, comedians, and politicians; and everyone in between. It is this: Doing good feels good. Loving feels good. Giving feels good. Supporting feels good. Commiserating feels good. Forgiving feels good. And, even better, in addition to feeling good you have the additional benefit that people return all of the above right back to you. Yes, absolutely true and proven time and time again is the Golden Rule that one does unto others as he or she wants done unto him; Do good. Feel good. Receive good.
This is the time to forgive. This is the time to perform a random act of kindness. This is the time to love. This is the time to understand and ask questions. To listen. It is not the time to hold grudges or seek revenge. It is not the time to be angry or jealous. It is not the time to fight over material things or hurt feelings.
I’m posting on #karma today on my facebook page, LinkedIn, Instagram, and twitter. If you follow me on all, you will see several thought provoking images. Confucius, Jesus Christ, Buddha and several other great thinkers and spiritual leaders all seemed to believe that what goes around comes around and it is better to do good thing to do ill.
Thanks for reading another soapbox rant. Smile. What are your thoughts on karma or The Golden Rule? Have you experienced personally or through someone else the results of bad Karma? Seen someone blessed beyond imagining after doing good and giving sacrificially? Share below please. As always, I would love to hear your thoughts.
Be well. Lead On.
Adam
Related Posts:
Who Am I?
Expectations of Leaders at all Levels
Khalil Gibran on Leadership
Lessons from Henry V
Adam Stanley
Adam L. Stanley Connections Blog
Technology. Leadership. Food. Life.
AdamLStanley.com
Follow me on Twitter | Connect with me on Linked In | “Like me on Facebook
Kodak missed a tipping point and went bankrupt. Blockbuster Video fought the wrong enemy and went bankrupt. Taxi drivers, hotels, travel agencies, and so many other industries are now fighting less against themselves than against new entrants that actually seek to solve a problem, to fill a need, to change old norms. Perhaps more so than most of these industries, the commercial real estate industry has been slow to both recognize and embrace change. I am convinced messenger service companies remain in business solely because the CRE industry continues to mistrust the transmittal of critical documents to anyone or anything not human!
Building relationships based on respect
Empowerment: People must be allowed to make decisions and drive change without being micromanaged and without needing to get multiple approvals; they must be allowed to be leaders. Just as importantly, we must enable those whom we empower. Power without training is not a formula for success. Empowerment is about giving a person the ability to manage something tangible that adds value, but also about working with that individual to help him or her succeed.
