Michael Maples, Principal & CEO of Trumark Homes, shares some of his favorite leadership techniques.
When we started Trumark Homes in 2008, we knew it was going to be a long economic downturn and that we had to find small things to celebrate.
So we created a “wall of success,” where we posted little victories like a city approval, a restructured deal, a new project in contract, new funding, etc. We also knew we needed to buy land priced for today’s market, but that was all but impossible in 2008 when we started.
So we celebrated every “Letter of Intent” (LOI) that we submitted (knowing the seller probably would not agree to our price) by keeping track of how many properties we had made offers on. We told our staff that it was a “numbers game” – if we made offers on enough properties, we would eventually find one that worked.
From May of 2008 until May of 2009, we made over 250 offers until one finally worked. By tracking (and telling our staff) how many LOI’s we had submitted, we made everyone feel like we were doing what it would take to be successful and that we would eventually get there. And we did.