COVID-19 forced many aspects of our lives to come to a screeching halt. Market uncertainty has cost people their jobs, caused new deals to stop in their tracks, and what once looked like a bright new year quickly turned into a year of spinning our tires waiting for “everything to blow over.”
That mentality will kill your business.
It’s inarguable that the past few months have provided challenges and prevented businesses from operating as usual. Whether you walk out of COVID-19 on top depends squarely on whether you had the drive and hustle to find a new way to win. Necessity is the mother of invention, and COVID-19 brought necessity to everyone’s doorstep. Everyone’s situation is different and so are the evolutions your business must make to stay on top in a time like this.
If social distancing is forcing my speaking engagements to cancel, I’ll book twice as many podcasts. If an investor meetup has to be pushed back, we’ll create a constant and informative stream of emails to keep them in the loop on how their investments are doing. We’ll host webinars for both current and potential investors to educate themselves on the ins and outs of apartment investing. The possibilities are endless and opportunity abounds; you just have to be willing to look twice as hard for it.
What is even better, is if you take this mindset and maintain it year-round. Sure, necessity is the mother of invention, but that doesn’t mean it’s beholden to her. Innovate constantly and you’ll never find yourself scrambling to catch up to the pack. Rockstar Capital’s online leasing capability meant we didn’t miss a single leasing beat when our offices had to close their doors. Our stellar communication with our residents, even though it was forced to be over a digital format, meant that our collections performed almost as well as they did in years prior, and that’s during an international pandemic!
When disaster strikes, you have to find new ways to adapt. If you want to win, you need to find those ways long before you’re forced to.