Iconic Leadership- Create Win-Wins- The Fearless Pursuit of Mutual Growth

Business partners sealing a successful deal with a handshake in a modern office setting.

Welcome back to Iconic Journey in CRE’s "A Year of Fearless Ethical Leadership" blog series. Our mission at Iconic Journey in CRE (IJCRE) is to empower commercial and multifamily real estate professionals to thrive, excel, and build meaningful connections. This week, we delve into a crucial aspect of effective leadership: creating win-win situations through fearless communication and the pursuit of mutual growth.

The Core of Mutual Growth: Collaboration and Relationships

At its heart, a win-win approach in real estate and business is about ensuring that all parties involved achieve a beneficial outcome. This philosophy emphasizes collaboration over competition, recognizing that shared success often leads to greater overall impact and resilience.

• Building Lasting Connections: Many industry leaders underscore the importance of building long-lasting relationships with clients, partners, colleagues, and customers. John Coe, host of the "Icons of DC Area Real Estate" podcast, highlights this as one of his three key lessons learned over his 45-year career, alongside always being of service and listening carefully.

• Connecting, Not Just Networking: Herman Bulls, Vice Chairman of JLL, distinguishes between "networking" (transactional) and "connecting." He defines a connector as someone who acts without expectation of immediate return, believing that authentic, consistent connections will lead to great, albeit unpredictable, outcomes. This "planting seeds" or "acorns" approach ensures that beneficial relationships grow over time.

• Shared Vision in Development: Gwen Wright, a leader in historic preservation and planning, emphasizes that developers and public sector planners, despite their differences, are "do gooders who want to improve the built environment" and "create a great place". Recognizing this common goal fosters collaboration, creativity, and integrity in development projects.

• The Power of Partnership: Having great partners is considered the number one way to mitigate risk in development projects. John Ziegenhein notes that if you have the right team, heavily negotiated operating agreements often remain unreferenced because challenges are tackled collaboratively. Moiz Doriwala prioritizes the sponsor (partner) as the number one criterion for investment, knowing that things don't always go as planned, and you need partners who will "do the right things and who are going to communicate".

Strategic Thinking for Collective Success

A win-win mindset isn't just about good intentions; it profoundly influences strategic decisions and business practices, driving sustained growth and innovation.

• Understanding Value Creation: Brad Olsen, an influential mentor, advises to "be the pebble," focusing on the ripple effect of actions rather than just making a big splash, and to "not burn your bridges". This long-term perspective on impact helps in cultivating lasting success. Ethan Penner echoes this with his philosophy that "greatness is a choice" found in bringing your best self to every moment, leading to a profound "ripple effect" that elevates everyone involved.

• Data-Driven Collaboration: Charlie Hewlett, an expert in strategic planning, stresses the importance of understanding "where do we make money?" to inform business strategy and identify opportunities for mutual benefit, such as selling off less profitable divisions to focus on core strengths. Jessie Barter, a leader in multifamily development, advocates for inclusive viewpoints within a team, believing that "more ideas will help us think through blind spots and identify opportunities to help provide better returns".

• Intentionality in Business: Liz Wainger, a communications expert, highlights her firm's mission to help clients "clarify their purpose, simplify their message, [and] amplify their presence" to win more business and motivate teams. This focus on clear, purposeful communication, rather than just tactical media hits, ensures that all efforts align with the client's best interest, even if it means declining work that isn't the right fit.

• Adapting to Evolve: Catherine Buell, founder of Wellness Real Estate Innovations, notes that "a few people can open up new opportunities that don't currently exist" by challenging traditional approaches and bringing "everybody's resources to the table". Her work with the Amazon Housing Equity Fund demonstrates how significant capital, combined with new models, can profoundly shift the market towards broader housing solutions.

  
  

Overcoming Adversity with a Collaborative Spirit

The path to mutual growth isn't always smooth. Challenges and setbacks are inevitable, but a win-win approach provides a framework for resilience and continued progress.

• Transparency and Trust: John Ziegenhein emphasizes that "you can weather any storm if you've got the right group of people together". This requires inherent trust and transparency, where partners communicate openly and avoid surprises, especially regarding financial matters.

• Learning from Setbacks: Liz Wainger learned that while you don't win every project, it's crucial to "learn from mistakes we all make" and own up to them, fostering stronger client relationships through honesty.

• Principled Interactions: Shekar Narasimhan, a strategic real estate advisor, asserts that every interaction should strive to be a win-win, where "I don't have to win for you to lose, and you don't have to win for me to lose". He emphasizes that consistently approaching interactions with good character and self-control leads to being a respected and influential voice.

  
  

Inspiring the Next Generation: Advice for Mutual Growth

Leaders in the real estate industry offer compelling advice for young professionals seeking to build successful careers rooted in mutual growth and positive impact:

• Blake Potolicchio: "Be Bold": Take chances and step outside your comfort zone in life and business.

• Jessie Barter: "Start Now": Don't wait for things to happen; take action and embrace a renewed sense of purpose.

• Hilary Goldfarb: "Hard work gets noticed and beats luck, coincidence and favors": Diligence and effort are paramount for success.

• Grant Ehat: "Be kind and listen to others": Mean-spiritedness is ineffective, and listening is key to understanding and progress.

• David Orr: "Don't give up": Pursue what you love with integrity and honor, learning from setbacks and pressing forward.

• Bob Murphy: "Believe": Have faith in yourself, others, and the opportunities around you, as this fosters an environment where anything can be accomplished through partnership.

By embracing these principles, real estate professionals can navigate their careers with purpose, build impactful relationships, and contribute to a landscape where success is truly shared and mutually beneficial.