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October 10, 2012

           Volume 14 - Number 41

      
Streamlining the Business of Commercial Real Estate
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TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring Hicks)

Brenda Dohring Hicks

 

Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry.

Why We Work This Way 

 

I'm having one of those days where everything is a reaction to something. When this happens, I know it's my fault. It frustrates me. Why do I let it happen? Is it preventable? Sort of. So I decided to stop and give the situation some consideration and then share my findings and thoughts with you. Let's go from the premise that there are five kinds of work we do every day: Procedural, Planning, Problem Solving, Reactionary and Insecurity. The last one is probably the most misunderstood, but very, very important.   Insecurity work is the stuff we do out of our own insecurities,  obsessively looking at certain statistics related to your company or repeatedly checking what people are saying about you or your product online, etc. Insecurity work doesn't move the ball forward in any way aside from briefly reassuring us that everything is OK. Oh, and here's the problem most of the time we don't even know we're doing it. It's subconscious work. 

 

We know that all work is not created equal. Generally speaking it seems that about 2/3rds of what we do is Reactionary, with Procedural, Problem Solving and Planning making up most of the remaining 1/3rd, but there's a nice sliver of Insecurity work in there. Thanks to the proliferation of mobile devices, Reactionary work seeps into every opening of your time. Walks between buildings or a free hour that results from a canceled meeting. The biggest mistake we make is prioritizing Reactionary Work over everything else. The goal is to minimize the gravitational pull of Reactionary work.  

 

So to understand how we work we have to take an audit every so often of where we are. Studies support that just the act of auditing or measuring where we spend our time has a huge positive impact. It's like the first step in the famous "12 Step Plan" originated and made famous by Alcoholics Anonymous. So you really should keep a daily time log for 3-5 days. It will shock you. And by the way most people that I suggest this feel that there's no need to do it because they already know where their time goes. The few who actually do it ALWAYS tell me how surprised (and generally dismayed) at the results.

  

There's really no getting around the fact that most of our days are consumed by Reactionary Work, during which we are focused only on responding to messages and requests - emails, text messages, Facebook messages, tweets, voicemails and the list goes on. We are constantly reacting to what comes in rather than being proactive in what matters most to us. Reactionary work is necessary, but we can't let it consume us. My typical day includes 2-5 types of work, with the majority being Reactionary work. I hate to admit it, but I find that Reactionary work often bleeds over into my efforts to schedule myself (planning work) and the deep thinking required to solve problems (Problem-Solving work). And clearly that's what is happening today.  

 

Here's my confession. It's easy for me to slip into a period of Reactionary work that includes surfing the top of my email inbox, or a period of Insecurity work, which usually takes the form of scanning the web and Twitter messages about our business. This is the type of Reactionary work that I have no one to blame but myself. The Reactionary work that comes from others in my office is harder to control and requires a lot of judgment on whether it is really Reactionary work or Problem Solving work.

 

Procedural work is the easiest to control. This is best done with the help of technology. Wherever possible, technology should be used to automate systems for managing projects and increasing efficiency. The golden rule of Procedural work is to minimize the time spent on it and optimize accountability. Procedural Work should be delegated when possible and great managers and leaders recognize that they should spend time on Planning work, setting up the systems that their teams will use to work; thereby minimizing their time spent doing the day-to-day administrative (Procedural) work.  

 

For me, taking the time today to stop and do some Problem solving work - reexamining why Reactionary work is causing me stress was the right thing to do. And yet it was in "reaction" to my frustration. I know that sharing this with you is productive for me and I hope it offers value for you.

 

And maybe you'll make a point to be more aware of the type of work you're doing, and how it's helping (or limiting) your progress.   Maybe my pain, will be your gain! 

 

Come join our discussion on our blog or I welcome your feedback through email.  

Hot Deals/Leads     

 

AHOLD USA trades as Stop & Shop at 375 locations throughout CT, MA, NH, NJ, NY and RI. The supermarkets, featuring deli, meat, produce, bakery, and floral departments, as well as a pharmacy and gasoline facilities in select locations, occupy spaces of 35,000 sq.ft. to 70,000 sq.ft. in freestanding locations, mixed-use and strip centers, as well as urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years. Preferred cotenants include home improvement retailers and discount department stores. Preferred demographics include a population of 30,000 within two miles. For more information, contact Tara Mullen, AHOLD USA, 1385 Hancock Street, Quincy, MA 02169


K-VA-T Food Stores, Inc. trades as Food City and Super Dollar Discount Foodsat 107 locations throughout southeastern KY, eastern TN and southwestern VA.  The supermarkets occupy spaces of 38,000 sq.ft. to 53,000 sq.ft. in freestanding locations and strip centers.  Growth opportunities are sought for the Food City concept throughout the existing markets during the coming 18 months.  Typical leases run 20 years.  Major competitors include Food Lion, Kroger, Walmart and Ingles Markets.  A land area of 5.5 acres is required for freestanding locations.  For more information, contact Lou Scudere, K-VA-T Food Stores, Inc., PO Box 1158, Abington, VA 24212


Abbott's Frozen Custard, Inc. trades as Abbott's FrozenCustard at 46 locations throughout CO, FL, MA and NY. The company prefers to occupy spaces of 700 sq.ft. to 1,000 sq.ft. in strip centers, malls and freestanding locations. Growth opportunities are sought throughout the eastern U.S. with a focus along the coast during the coming 18 months. Typical leases run 10 years. A vanilla shell is required. Preferred demographics include a population of 100,000 within three miles earning $75,000 as the average household income. The company is franchising. For more information, contact Robert Amico, Abbott's Frozen Custard, Inc., 4791 Lake Avenue, Rochester, NY 14612

 

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