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In business, resilience has emerged as a necessity rather than a regrettable afterthought. It’s described as the ability to bounce back from challenges, whether they are based on adversity, conflict or failures.
However, I believe resilience extends beyond personal capabilities. A truly resilient company cultivates collective strength as a culture, particularly beneficial for industries such as real estate with a cycle of unpredictable markets.
At SetSchedule, resilience is not just a trait, it is an ideology woven into the fabric of our business strategy.
Related: 8 Ways Successful People Master Resilience
Redefining strategic intent for fostering growth and reinforcement
Beginning as a marketplace for realtors to meet and exchange leads, SetSchedule’s scope was initially quite narrow.
As the company evolved, we noticed bigger challenges permeating the real estate industry. These challenges presented the opportunity to be more than just another real estate tech startup. Driven by a strategic intent for greater resilience, we recognized our duty to provide a more expansive solution for our clientele and the entire industry.
Phil Rosenzweig adequately demonstrates the importance of strategic intent. In his book, The Halo Effect…and The Eight Other Business Delusions That Deceive Managers, he notes that reinventing strategic intent can guide companies as they adapt to fluctuating market conditions, growing needs and cultural evolution.
We discovered this to be true on our journey to becoming a resourceful networking platform democratizing the real estate process.
The challenges involved during the transition contributed to the strength of our culture, reinforcing its resilience.
A resilient company culture calls for a collaborative endeavor
Resilience must be embedded into the structures of the organization’s culture, absorbing influence from every team member irrespective of their designation. This inclusive buy-in ensures everyone understands the company’s mission, aims and values.
Jim Collins, in his seminal business guide, Good to Great: Why Some Companies Make the Leap…And Others Don’t, describes the importance of getting the right people on the bus and in the right seats before defining the journey.
This encapsulates our philosophy at SetSchedule. Endeavoring to ensure everyone’s understanding of our vision, we cultivate a robust culture capable of navigating the stormy seas of the real estate market with composure.
Embracing learning as a catalyst for resilience
Ingraining the ethos of continual learning in the work culture engenders resilience. Challenges are viewed as stepping stones, opportunities to learn and grow.
By fostering a culture that promotes learning, we’re amassing collective resilience, which helps us recover quickly and efficiently after setbacks or failures.
Carol S. Dweck, known for her work on mindsets, has noted that organizational resilience is tied to promoting a growth mindset. Unlike a fixed mindset, which views capabilities as static, a growth mindset values the journey of constant learning, evaluation and growth.
Building resilience through emotional intelligence
At my company, another cornerstone for the development of a resilient work culture is emotional intelligence.
Steering through setbacks requires employees who can understand and manage their emotions. Emotional self-awareness, empathy and interpersonal effectiveness help not only in navigating personal challenges but also in fostering positive workplace relationships.
Encouraging these aspects within our team has led to better stress management and conflict resolution, two crucial components of resilience.
Resilience through social responsibility
Engagement in social responsibility initiatives enhances organizational resilience by building strong relationships with the community and stakeholders. It demonstrates a commitment to more than just profit, showcasing a dedication to societal growth and well-being.
This, in turn, strengthens the brand and fosters a sense of pride and purpose within the team.
My company actively participates in and supports various community engagement programs. We’ve found that this not only uplifts the communities we serve but also enriches our company culture, imbuing our team with a sense of purpose that transcends the daily grind.
Long-term vision for sustained resilience
Finally, resilience is not just about the short-term bounce back; it’s also about sustaining that momentum into the future. It requires a clear long-term vision that can guide decision-making, strategy formulation and cultural development. This vision must be adaptable, capable of evolving as external conditions change, but always offering a beacon for the company’s direction.
We continuously refine our vision, ensuring it remains relevant and inspiring for our team. This long-term perspective helps us frame our everyday actions and challenges within a broader context, providing clarity and motivation even in tough times.
Related: From Setback to Success — 4 Ways to Turn Your Struggles into Resilience
In wrapping up, SetSchedule’s journey towards building and maintaining a resilient company culture is multifaceted, grounded in strategic intent, collective effort, continual learning, emotional intelligence, transparent communication, innovation, employee well-being, social responsibility and a steadfast long-term vision.
These elements combined fortify our ability to adapt and thrive amid adversity, ensuring we remain relevant in the face of the unpredictable dynamics of the real estate industry.
The path toward building such a culture is persistent and evolving but ultimately rewarding. It ensures that, regardless of the challenges we face, we have the foundation to not just endure but to grow stronger and more cohesive in our endeavors.