Nine Reasons Managers Struggle
Former CEO and president of Verizon Wireless, Denny Strigl explores nine specific behaviors that leaders do and don’t do that make them serious performers, marginal performers, or failures. In “Managers, can you hear me now?” he says it’s all about behavior.
- Managers Fail to Build Trust and Integrity. The three major qualities of trust are integrity, openness, and respect. Trust always begins with the manager. Do you say and do things that erode trust?
- They Have the Wrong Focus. Focus all your energy on achieving results. Allow nothing to distract you. As the manager, you are the force that keeps your team focused on results. Continually reinforce the Four Fundamentals—growing revenue, getting new customers, keeping existing customers, eliminating costs—and what’s important, unnecessary activities will always creep in. Do you feel you are wasting time, effort, and money by focusing on things that don’t matter in getting results?
- They Don’t Model or Build Accountability. The best way to get people who work for you to be accountable is to show them that you are accountable. Do you have a tendency to blame others or look for excuses? Do you talk about accountability and reward it?
- They Fail to Consistently Reinforce What’s Important. Managers are the first to get bored with their message. The people who work for you perform their best when what you say is consistent and frequent. Do you have a core performance message that you constantly talk about with your employees?
- They Over-rely on Consensus. Consensus managers seldom survive long in their jobs. To get buy-in from everyone will likely produce a watered-down version of the original decision or action.
- They Focus on Being Popular. Leadership should never be a popularity contest. Managers who try to be popular often lose their focus and waste energy.
- They Get Caught Up in Their Self-Importance. Given all the benefits of your position, it would be easy to become absorbed with yourself. On any given day, you might think it really is “all about me.” Do you have a high need to gain admiration, be in the spotlight, and get public accolades?
- They Put Their Heads in the Sand. The best managers not only want to hear about problems, but encourage their employees to tell them when they encounter problems or issues they feel are not right. Good managers want open, honest, direct, and specific communication regardless of the information being presented.
- They Fix Problems, Not Causes. Unless the manager fixes the cause of the problems they encounter, valuable time will be spent fixing the same problem over and over again.
Written for Leading Blog – www.leadershipnow.com 2/13/12
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Why Some Folks Should Consider Passive Real Estate Investment
by Michael Zuber on February 22, 2012
Active real estate investing gets all the glory with TV shows and the mainstream media, however, sometimes passive real estate investing can turn out to be a best option for many would-be real estate investors. Let me explain.
What are your options if you live in a real estate market that offers very low returns?
You could spend every waking hour looking for that once-a-year deal or you could dive in and try to make a skinny deal (low cash flow) work. Either way, you are not getting a great return on your money or your time. As for skinny deals, they rarely work out and you might find yourself making up for negative cash flows in the long run. As for the once-a-year deal, you can look for it but from my experience you would likely give up before you found it.
Another option is to look to invest in a market far from home. Finding a market that offers better returns is not that hard, but then you need to step up so you can build and manage a team remotely. Investors do this all the time and I would even suggest this option is better than our first option of doing nothing or buying skinny deals. However, this means you will have signed up for long distance land lording and that will bring surprises and headaches.
The final option I suggest is to find an experienced active investor in a profitable market that has a defined, proven and successful model. This active investor would likely have a program that offers double digits returns, provides tremendous security and enables the passive investor to truly have mailbox money. The passive investor will need to vet the active investor and make sure they understand how they are protected and how both parties will be better off working together.
Passive Investing can be great for investors who live in low return markets or who just don’t have the time to learn active investing:
- They can establish an agreement that provides them a better return than their local market.
- They will have none of the long distance land lording headaches
- They can establish significant downside protection by understanding the model
What if you work full time and just can’t find the time to do all the work required to become proficient at active real estate investing?
You could keep stashing money in a savings account, the stock market or even gold/silver. These options aren’t terrible and they are available to everyone. But they offer very little cash flow, and in the case of gold, it offers no cash flow to pay bills each month.
What if you have an IRA and you want to diversify from the stock market?
Many investors feel their IRA’s are locked into either picking stocks or mutual funds. This is simply not the case. Some IRA investors who want a steady return instead of the daily gyrations of the stock market have looked to real estate as a way of establishing secured returns.
Passive real estate investing should be considered an option especially if you live in a low-return market, have no time, or want a means of diversifying your IRA. As always, before you invest, make sure you understand how you are protected, how you both will make money, and have a clear understanding of your downside protection.
Good Investing
Related posts:
- Passive real estate investing tips, become an entrepreneur
- Is Active or Passive Investing Right for You?
- Enough Already! Good Folks Are Gettin’ Hurt Readin’ Your Pap
- Finding the Poison Ivy Real Estate of Your Investment Dreams
- The $7,800,000,000,000.00 Bailout! That’s $7.8 Trillion So Far, Folks!
Visit Michael’s Website: http://www.wealthbuildingpro.com
Michael Zuber is an active buy-and-hold real estate investor who still has a full-time job. Michael is not an agent or broker, and simply uses the internet and agent relationships to drive his business. He currently averages at least one deal a month and has developed laser focus on his 5 step process. You can learn more about the process and past deals at www.wealthbuildingpro.com
Is your broker a double agent?
By Lew Sichelman, United Feature Syndicate
Chicago Tribune January 27, 2012
Nearly nine out of every 10 homebuyers used a real estate agent last year. That’s up from 69 percent a decade ago, according to the National Association of Realtors’ most recent profile of buyers and sellers.
But another NAR survey indicates that many of those buyers didn’t have a clue whom the agents they chose actually represented. In some cases, moreover, their supposed agents may have been working in direct opposition to their interests.
Despite laws in most states that require agents to disclose their fiduciary relationship to would-be buyers, often at their first meeting, buyers didn’t know the agents were working on behalf of the seller, or maybe did not have a duty to either the buyer or the seller, because the agents failed to tell them.
NAR’s profile survey found that perhaps a third of all buyers were not told whom the agent represented. And that’s confirmed by the group’s biennial Legal Scan report of the most pressing legal issues facing NAR’s million-plus members.
After more than 20 years of efforts to clarify who represents whom in a real estate transaction, and scores of statutes redefining the relationship between agents and the people they serve, it seems that a good many realty “professionals” still don’t get it — or just don’t care.
Legal Scan combines surveys of state real estate commissions and other key people in the business with a close analysis of case law and recently enacted laws. The findings are chilling.
For example, the vast majority of respondents ranked agency issues among their top three concerns. And an unhealthy 32 percent said there is a significant need for further training on the topic.
In many instances, the survey found, agents — and even some of the brokers under whose banner they work — do not understand the basic concept of dual agency.
Dual agency is when the agent represents both the buyer and seller and attempts to walk a fine line between both their interests. But many Legal Scan respondents said agents cannot explain the concept to their clients. Worse, they do not disclose it to either side.
Said an Ohio broker: “Agents say they explain it well, but as a manager, I end up hearing, ‘He/she didn’t explain it to me that he/she would be working for both parties and not able to tell me everything the other party said.’ ”
Other survey comments indicate agents don’t take agency disclosure rules seriously or fear making the required disclosures because they might lose the client.
Disclosure is “done poorly on a routine basis,” said a Minnesota instructor who travels the country and finds it “true that most agents are not educated (about) and (are) afraid” to disclose on whose behalf they are working — the buyer, the seller, neither the buyer nor the seller, or themselves.
Said a Louisiana respondent: “I believe people are very apprehensive of giving disclosure at first contact due to (the) public’s overall negative view of agents and bad experiences.”
Maybe that’s why breach of fiduciary duty is another top issue of legal concern, with respondents often citing agents’ lack of understanding of what it means to put their clients’ interests above all else.
“Too many agents forget whom they work for and the full bundle of responsibility we owe to the client,” said one whose home state was not identified. A New Jersey respondent chimed in with this scary thought: “Agents put their own interests ahead of clients’ and do not seem to care about how they get the contract closed. They’ll do what it takes.”
A Colorado broker told this columnist: “Unless they are audited, nobody will ever know (they violated their fiduciary responsibilities). And if they are found out, they plead ignorance. They pay a small fine, promise to never do it again and go on their merry way.”
In the interest of full disclosure, here is a brief description of the various forms of real estate representation. They may have different titles in different states, but they all boil down to these basic models:
Exclusive seller agency. The agent works only with sellers, never with buyers. Some agents prefer to list houses for sale and are content to let others find buyers. Some agents undertake extensive advertising campaigns, while others “earn” half the commission for doing nothing more than entering the property information into the local multiple listing service.
Exclusive buyer agency. The agent works solely on behalf of buyers and never accepts listings. A true buyer agent is fully trained in the art of representing buyers, including bargaining on their behalf and doing whatever detective work is necessary to protect buyers’ interests. These agents never have any conflict of interest.
Seller and buyer agency. This is the most popular form of brokerage. The agent works with both parties, even in the same transaction. But can a dual agent represent the interests of both sides without compromising one or the other’s position?
Typically, a dual agent has only limited training and experience in representing buyers, yet they will gladly work on a buyer’s behalf if that’s what the buyer wants.
Worse, the first houses they show are often their own listings, which would net them the biggest commission. Then they show places listed by their colleagues in the same firm, or those that offer bonuses to the selling agent, both of which will pay them more. If all else fails, they’ll show other houses. But unfortunately, that’s not their immediate objective. It’s only human nature.
Single agency. The agent works with buyers and sellers, but never in the same transaction. If the agent represents the seller, he will — or should — advise the buyer to secure his own agent, either within his company or from another brokerage firm.
Transaction broker. This agent owes neither party any fiduciary duty. They are pure facilitators working with both sides to get the deal done. But what if the agent already has the listing? Unless the seller releases him from his obligations, he can’t really be a facilitator.
Building a World-Class Team
Although his record is unparalleled, Duke’s Coach Krzyzewski says successful leadership involves more than wins.
Don Yaeger
Most coaches would consider leading a team to an Olympic gold medal a capper for a pretty good year. The same goes for winning an NCAA national championship. Or a FIBA world championship. Mike Krzyzewski, head coach of the Duke Blue Devils and Team USA, led teams to each of these honors… within about 24 months.
Arguably the best active coach in basketball, Coach K, as he is affectionately known, has maintained a reputation for fair play, clean programs and outstanding leadership. Not only has he achieved tremendous success at the collegiate level, winning a mind-blowing 880 games, but he has also mastered the art of coaching professional players for international competition—no small feat given the wide variety of personalities and playing styles that each “collection of individuals” presents.
To hear Coach K describe it, there is no secret to his successful leadership, only the tireless and consistent application of commonsense coaching and principled living. In his 2009 book The Gold Standard: Building a World-Class Team (published by Business Plus), he writes, “People want a recipe. Recipes guarantee that if you follow these steps in this order, you will get a favorable outcome. But team building is not about a recipe, it’s about taking the necessary time to build this team for this purpose.”
Krzyzewski’s leadership skills are renowned beyond basketball. In 2004, Duke launched its Coach K Center on Leadership and Ethics as part of the university’s Fuqua Business School. The university’s Center for Athletic Excellence also bears his name. During the off-season, Krzyzewski even works as an executive-in-residence with the leadership center, writing about and teaching leadership skills and ethical practices in the professional arena. His message, clearly, is not just about shooting a ball through a hoop; Coach K’s focus is on real and timely lessons that can apply to all aspects of life.
More Valuable Than Trophies
In fact, his players say they have gained much more from their coach than titles and trophies. “If you want to learn what excellence is and be the best leader, basketball player and person you can be, then these guys will tell you—from Johnny Dawkins to Grant Hill to Shane Battier and all of the guys—there is no one like Coach K,” Christian Laettner, the 1992 National Player of the Year in college basketball, said in an interview.
NBA All-Star Hill put it this way: “The most important thing of all about Coach K is that he taught me the principles and values that I will carry with me for the rest of my life. Those principles and values transcend basketball. They can be a guide for success in whatever you do in life—whether that is running a big business, ministering to a church, coaching a sports team or simply trying to achieve your dreams.”
Krzyzewski’s own hoops dreams were cultivated in a working-class neighborhood where there were no organized youth sports. Mickey, as he was called, developed leadership skills early on, organizing the teams and often improvising games, depending on the number of players, available equipment or weather conditions
Krzyzewski was born into a large Polish-American family in Chicago. His mother was a cleaning woman and his father an elevator operator. His parents initially considered sports frivolous but came to support their son’s activities after seeing the discipline he gained, he said in an Academy of Achievement interview.
Krzyzewski’s early desire to become a teacher and coach resulted from strong positive influences. A nun at his Catholic grade school helped nurture traits such as sensitivity, which were the foundation for his value system, he told the Academy of Achievement, and a high school coach inspired him to reach further than he thought possible by believing in him and teaching him not to be afraid of failure.
Fostering Cohesiveness Among Individuals
Krzyzewski tells SUCCESS that as he advanced in his career, he learned to bring out the best in his players and teams. He learned to shape each team differently, adapting to its members, situations and demands. Any team begins as “a collection of individuals,” Krzyzewski points out. Each player comes with his own style of play, way of thinking, history and view of the game.
One common denominator Krzyzewski insists on with his players is that they are truly interested and excited about playing for Duke. It’s essential to pick the right people for the team, and to make sure those players possess the “right chemistry of talents and personalities,” he says. “A kind of balance is important so that the skills complement one another in order to cover all the elements of the game. With personalities, it’s the same way. Stronger personalities can motivate the team and get them fired up, while gentler personalities can provide the calm, grounded sense that is just as important for staying focused during big moments.”
But team-thinking is not automatic simply because all members are wearing the same jersey, he says. Establishing a pattern of effective communication is essential in creating cohesiveness between those individuals. Just about everything else a team needs to succeed— respect, trust, understanding—stems from communication, and that starts with eye contact, Coach K says, whether he’s talking to Duke’s current superstar Kyle Singler or NBA great Kobe Bryant.
“Eye contact is an essential part of communication with every team that I coach. It’s hard to not tell the truth to someone when you’re looking them in the eye, so it is a way to quickly build a sense of trust,” he says. “It is also a sign of respect: I respect you as a player, and I expect you to respect me as a coach. That mutual respect is key in building a successful team.”
The Challenge: To Lead Leaders
Three years ago, Krzyzewski faced an unusual challenge when he was asked by the board chairman of USA Basketball, Jerry Colangelo, to take the helm of America’s Olympic basketball program. For years, the USA team has comprised professional players who chase world championships and Olympic gold medals in their off-seasons. And for several years, the once-dominant USA team had been faltering, with a sixth-place finish in the 2002 world championships.
To be successful with Team USA, Krzyzewski had to lead players who were winning at a higher level of the game than he was coaching. And most of his talent-laden teams in international competition comprised players who have been the leaders of every team for which they’ve played. To corral all these individuals into a unit operating under his principles and philosophies, Coach K relied on the tried-and- true: respect.
“When a leader takes responsibility for his own actions and mistakes, he not only sets a good example, he shows a healthy respect for people in his team,” he says in an article on his website. In other words, he makes sure he conducts himself in a way that will not only win his team’s respect, but will keep it—no matter how practice goes or the game turns out. He doesn’t point fingers in press conferences; he doesn’t allow people to blame teammates; he doesn’t allow his players to beat themselves up.
Instead, the focus is always on maintaining a clear sense of perspective. Coach K likes to remind his teams that they begin each season and each tournament at 0-0. This is a mindset he has found particularly effective in helping teams work their way out of slumps. Rather than focusing on what has gone wrong, he insists that they leave the negative thoughts, feelings and memories behind them and instead focus on the immediate game or play. This technique is equally helpful in getting teams to work for each and every win, rather than focusing on past victories.
One season at Duke, while his team was struggling, he even went so far as to have his players take every single award, trophy and plaque they had earned and place them in a box. He also had
them write down their thoughts about the season so far and place those notes in the box, too. Coach K sealed the box and promised to return the items at the end of the season; for the time being, the most important thing was to focus not on what had gone before but on taking each game one at a time. The exercise was effective; the team went on to an ACC Championship and an NCAA Tournament appearance.
Keeping Wins in Perspective
Coach K is quick to point out that winning should not be the team’s only focus. “Being motivated in your career is important but you must be cautious not to become one-dimensional,” he writes in Beyond Basketball: Coach K’s Keywords for Success (Business Plus, 2006). One’s life balance may need to be skewed toward the team’s goals for a period of time, as circumstances demand. But those goals should never outweigh the demands of one’s personal life for very long, or any person will ultimately fail, he says.
Coach K struggled with balance early in his career, when recruiting trips required too much time away from home. He and wife Mickie discussed the challenges and decided the family needed to be involved as much as possible in team travels. Their three daughters took to the idea; tournaments became anticipated family events, and the girls were as thrilled by each win as their father’s players.
The Krzyzewskis also made another decision that may seem surprising. As much as the entire family loves basketball, the home is reserved for family—so there are no trophies or other mementos at the house. Clearly, this coach needs no visual reminders of his success; the proof is in the results on the court and in the lives of those he has influenced.
In the end, leadership comes down to consistency and strong, confident action upon which the team can rely—and this doesn’t mean imposing a bunch of rules. “Too many rules get in the way of leadership. They just put you in a box…. People set rules to keep from making decisions,” Coach K says on his website. Instead, a team needs to be able to trust its coach to always act with players’ shared interest at heart. If the players understand and accept that their leader is steering their direction through thoughtful, careful measures, then they will pull together to give the best effort every time.
And that is what Coach K believes makes the difference. He doesn’t see himself as merely a coach. “I’m a leader who happens to coach basketball.”
How Should I Experience 2011?
2011 already – can you believe it? The holidays are here and gone – it is too bad they go so quickly. I love having family around and hate to see them leave!
I have been giving a lot of thought to this new year and what it might hold. I am excited about experiencing it and all it will offer. But what about resolutions? I have been thinking about those as well. What kinds of resolutions do I want to make this year? I don’t like making the vague, nebulous kinds that often get broken. So what then?
Below is my list of “resolutions” for 2011 – maybe you will find something in these that resonates for you:
- Make decisions based on real priorities. I can’t say my family comes first and then miss all of my son’s basketball games. That behavior would contradict my resolution. However, setting a good example for my son and showing him how I came to the decision to miss one game would make sense. For instance, if I had to work during one of his games, it would be important to explain the importance of my role as a parent and providing for my family. I would use the opportunity as a teachable moment. This way he would have a better understanding of why I needed to miss that one game. Now he is thirteen and would likely understand this concept but I don’t think he would be happy if I missed five game – and frankly, neither would I!
- Remain optimistic. There has been volumes written on optimism over the years; the health benefits, social benefits, and many more intangibles. Sometimes it is difficult, especially in the face of adversity, to remain optimistic. This year I will work hard and remaining optimistic, looking at the bright side, and finding the silver lining. I believe in my heart of hearts that there is good in all – it is sometimes a bit hard to find. That should not stop us from looking!
- Concentrate. Unfortunately, in this world of competing demands, I have gotten caught up in the multi-tasking phenomenon. I used to think I was really great at it and on some level I still think I am! But, what I have realized is that I am much better at things when I concentrate and limit distractions. Admittedly, this will be my most difficult resolution to keep. I do love to check email and my Blackberry. However, I am confident I will prevail and conquer this addiction to multi-task!
Well there you have it – my three lofty resolutions for 2011. Maybe not your typical but for me worthwhile. I hope this little snippet into my life helps you in some way. I wish you the best of many things in the coming year.
PS -maybe I should of included the “I want to lose a few pounds” resolution – I did go a bit overboard with the food this holiday season!



