At Metrix, we are launching into our Alchemy Mastermind Spring season. Throughout the month of March, we will meet with many of our clients to review their businesses and help strategize around their business growth. During one of our Alchemy sessions in particular, we will cover material from one of my favorite books, Dichotomy of Leadership. As I was reviewing my notes from this book, it dawned on me that I wanted to share them with you…

Here are some of the my key takeaways:

Knowing when to protect your team members, and when to take a risk that might put them in a difficult, or less than ideal, situation for the overall benefit of the team. In our real estate teams, and in any business for that matter, the decisions we make should help move the business forward. Now, recognize that this is not always an easy pill to swallow and your decisions may not make everyone in your organization happy, however it can be vital for the overall health of your company. 

If you want to be a good leader, be a good follower first. Just because you are ‘the leader’, does not mean that you are above anyone else in the organization. Rather, as a leader you must recognize when and be willing to put your authority to the side and follow others, and sometimes this means following those who follow you. 

Spend your leadership capital wisely. As a business owner and leader, we only have so much ‘leadership’ in us. There are times when you must step in and exercise your leadership to help guide your team members or drive the business forward. On the contrary, there are times when it’s better for you to stand down, pick your battles, and, for lack of a better word, save your breath — save your leadership capital. Here is one of the quotes I highlighted in my book that outlines this further: “There is a time to stand firm and enforce rules and there is a time to give ground and allow the rules to bend.”

Help your team understand the ‘why’, rather than overwhelm them with direction. When you understand the ‘why’ behind something and how the outcome will impact other people or aspects of the business, you are more likely to perform at a higher level. By sharing the ‘why’ with your team members, you will give them the opportunity to perform better and, without even knowing it, you also give them the opportunity to feel like they are a part of the bigger picture/overall mission.