Confused about how to lead your team to success during market shift? Rainy Hake Austin, President of The Agency, shows us how to use strategic thinking to show your team a clear path to achieving their goals.
In a changing real estate market, Inman’s advice and expertise are never more valuable. From our events to our daily news coverage and hands-on journalism, we’re here to help you grow your business, adopt the right tools, and earn money. Join us in person in Las Vegas at Connect and use your Select subscription for all the information you need to make the right decisions. When the waters get choppy, trust Inman to help you navigate.
Do you receive Inman Broker’s Edge? Make sure you are subscribed here.
One of the secrets to practicing exceptional leadership, forming effective initiatives, and achieving successful results happens to be one of my favorite approaches to business and life: strategic thinking. .
I consider this to be one of the main responsibilities of my role and something that I find to be more of a mindset than anything else. Being thoughtful, intentional and deliberate in action and word goes a long way. Here’s how to lead with strategic thinking to create a major impact for your team or business.
Understand the problem you are trying to solve
I find that many leaders skip this step, which is perhaps the most crucial step in developing strategic thinking. A thorough understanding of the problem to be solved, the actors involved, and the potential outcomes and consequences is essential to inform solutions that meet the needs of everyone involved.
Here’s the challenge: This thoughtful work requires time to reflect. So slow down and give yourself time to map out the problem, talk to stakeholders, and understand the nuances of the situation.
Zoom out and see the big picture, then zoom in to see the micro obstacles within that bigger story. Research, ask questions, put yourself in others’ shoes to see all sides, and arm yourself with the knowledge to make an informed decision in the future.
Collaborate with others to discuss solutions
Multiple voices are needed to make strategic decisions – luckily you’ve built an amazing team. Leverage the knowledge, expertise, and experience of people at all levels, including technologists, marketers, agents, customers, trainers, PR experts, and more.
You need their insight to fill in your blind spots, get your lingering questions answered, and have a rich conversation that touches on all sides of the problem you’re trying to solve. Dive in, connect, and be open to other people’s ideas and opinions – they can be your greatest asset in finding an effective solution.
Don’t be afraid to think outside the box
Strategic thinking involves creativity – lots of creativity. Create a space to brainstorm ideas with your team and make it a space open to all ideas, even the craziest ones! People’s most creative thinking will only manifest in an environment that feels safe, supportive, and positive.
Please don’t say no. Instead, put any ideas on a whiteboard or shared document as they come up. Then you can go back and review the ideas to find one or a few that will work within your constraints.
Manage the time of your decisions
Here is the risk of doing deep strategic thinking: decision paralysis. Often it is the result of perfectionism, which can push us to do our best while simultaneously limiting our creativity. As a leader, you walk the line wanting to take your time to make the most informed decision possible and moving too slowly.
Remember, even if you can’t find the solution the first time, a a solution that mitigates the barriers is better than nothing. Allow yourself to move forward with an idea and iterate on it as the momentum unfolds. Your team wants to see change in a positive direction, so be sure to deliver what they need and keep the momentum going.
Measure your success and learn from the result
When you implement a change within your company, it is essential to learn from it to create better systems, policies and culture in the future. Determine your KPIs (Key Performance Indicators) and measure them consistently. Regroup with your stakeholders to review the results and determine if or what iterations are needed.
Beyond these steps, adopt a strategic mindset in all things. Your brain is your greatest asset as a leader, so adjust it and use it to its fullest potential. Great things are about to unfold.
Rainy Hake Austin is president of The Agency in Los Angeles. Connect with her on Instagram.
