Know Your Why

Happy Second Anniversary to My Business!

I’ve made mistakes in the past two years, I’ve learned lessons, I miscalculated on a couple of plans, and I’ve pivoted where I needed to.

One thing I got right was taking the time before starting my business to reflect on the reasons motivating me to do so. I figured out my why and I’ve displayed my why in a highly visible location in my office to help keep me focused and motivated when business feels a little chaotic.

Are you thinking of starting a new business? Whether your new business will be property management specific or not, you’ll need to know your why. There will be days when you wonder why you’ve quit a perfectly stable job to do this. So take the time to give yourself that answer before you get started.

There are countless little positives about being in business for yourself. For example, I enjoy the freedom I have to create my schedule, I treasure having the ability to market myself in a specific way to a specific type of client, I value being able to set the tone for my business, and let’s be honest, I love that I generally answer to myself. All in all, I enjoy running my own business more than I ever thought I would. But it’s not all sunshine and happiness. Owning your own business is hard work, it can be stressful, and it can be lonely. There are days when it all goes wrong and even imagining things will turn around is tough. On those tough days, it’s helpful to be able to remember why you started your business in the first place.

My why ultimately led to my business plan and it guides me in many of the day-to-day operational decisions I make.

When I first sat down to think about why I wanted to take on the burdens of being a business owner I kept going back to one event that had occurred in my career.

I was a new employee and unfamiliar with the workings and expectations of the new company. In my first week, my boss spoke to me once or twice, gave me a copy of the job description that had been used to advertise the job, and then pretty much walked away except when he came back around to tell me he wanted me to lead a renovation project in an occupied apartment community. He told me more information would follow. I like project management so although that work had nothing to do with the job I was hired to do, I was happy to take part in the project. Later I was told to attend a meeting with one of the contractors involved in the renovation project, but still, no detailed information on the project was provided to me. It was a summer day and I wore a yellow cotton dress. The outside contractor started the meeting by introducing me. He looked at me, laughed, raised his hand to point at me, and said, “And this little lady sitting over here is Kim. And look at that dress! Stand up Kim and let us all look at you.”

I was mortified, mumbled my way around the introduction, and then stood up. (I know, I know, why did I stand up?)

That was not the end of it, as the meeting went on, it was apparent that I had no voice at the table. I was talked over, I was interrupted, and I was ignored. I was the paying client and the project manager, yet my feedback was not going to be considered because it was never going to be heard.

I was not one to run to my boss and ask for advice or input, but this meeting baffled me. I wasn’t sure exactly who this contractor was. I wasn’t sure how important he was to the company I worked for, I didn’t have a copy of a signed contract with him so I wasn’t sure if I had to work with him on this project or if I was free to choose an alternative. I wasn’t even really sure what the expectations were surrounding the project. I left the meeting and sat in my office for a few minutes before deciding I would approach my new boss to ask my questions about the project and this contractor’s involvement.

I approached my boss and asked if he had a few minutes for a question. I briefly told him about the meeting, told him about the introduction, and then explained how the meeting went after that. I carefully explained that I wasn’t looking for him to get involved or to correct the situation, just to give me more information so I could ensure that I’d be an effective project manager.

My boss responded with condescending laughter, “Okay, I don’t see the problem, what are you asking me to do?” he asked.

My experience at this company only went downhill from that point on. The owners of the company failed to set clear priorities or expectations. The owners of the company failed to provide the tools and information necessary for employees to succeed. Our clients and customers were laughed at. Employees were publicly humiliated. I did not work well in those conditions and I was powerless to change it.

My employment in that office is not a time I look back on fondly.

That incident with that yellow dress has come to symbolize all that I wanted to leave behind when started my own business. I never want to make someone feel the way I did on that day or during the time I worked at that company. I want to run a well-organized company that moves forward methodically while always remembering that I enjoy the field of property management and enjoy working with my clients and customers. My why is that I never want to be in the position of the woman who wore that yellow dress on that day or all the days that I worked for the company after that day and just as importantly, I never want to make anyone feel the way I felt on that day. I work hard and I love the field of property management, I want to run a company where I listen to others share their experience as property managers and help them to become more efficient and effective in their chosen profession. I want to share the knowledge that I have and help people more successfully manage and organize their property management company. I want to help people get organized and create systems and processes that allow them to manage their own investment property.

Remembering my why helps me keep moving forward in the direction I know I want to head rather than veer off down a path that will take me away from the business place I want to be, it helps me stay focused.

How about you, are you thinking of starting a new business or buying an investment property? One thing I can guarantee is that things won’t always run smoothly! I highly recommend that you take the time to determine why you’re taking this step so you have something to help keep you on track when things don’t go as planned or turn chaotic.