the time came along, we continued to expand while finding other leaders inside and outside of the organiza- tion to help us grow. Early on we identified our core values and I encourage you to take time to discover values that speak to you and your team. We completed an exercise where we put VALUES 20-30 values on a board, and we each identified a list of our top 5, compared our lists and crossed off those that didn’t make the cut. Eventually we cut them down to five we all had agreed on. More impor- tantly, we felt that each of us had exemplified those values and that we would honor them. It is easier to stick to things when surrounded by others, but what really speaks to someone’s character is the ability to uphold them in the face of opposition or without someone looking over your shoulder. RISK AND REWARD Each person has developed certain beliefs based on their individual experiences throughout life. Their upbringing, quality of life, and environment shape how they approach certain circumstances. One thing I’ve realized is that you’re unlikely to have the same risk tolerance as those you align with. For example, I tend to be more conservative than those around me and a little less risky than some of my partners. I believe that a good balance occurs when you have a variety, if there can be honesty and trust. I have grown to like the dynamic as we’ve accom- plished more with that extra bit of risk than if I was completely in charge of all the decisions, all the time. Weighing the pros, cons, and variables can assist in making a more educated decision and we have to understand that there will always be a risk to anything we do. We can’t
ONE SHOULD ALWAYS CONSIDER THEMSELVES A STUDENT, BUT IF YOU’RE GOING INTO BUSINESS WITH SOMEONE OR CREATING AN ALLIANCE, FULLY UNDERSTAND WHAT EACH PERSON BRINGS TO THE TABLE AND IF THAT IS A FAIR TRADE.
let it paralyze us, but we build confidence on each successful endeavor. One does not have to share the same risk and reward style as those around them; I often think that we have succeeded more quickly with the dynamic of the push-pull of personalities versus everyone agreeing blindly. ADAPTATION As our business continues to evolve and reach new heights, I’ve realized that someone’s value may shift and change through- out the course of a business. One who had the most experience, may not necessarily always hold that spot, through the growth of the individuals and business itself. This can bring about changes and possible challenges of where the business needs to go and who will be along for the ride. It can be problem- atic to think that one person is pulling more weight than the other, and at times each person may feel a little slighted, but in the end it’s an equal shake. There have been times where I knew I was pulling more than my weight and sometimes I was having to shift my role to another area where I felt as if my partners were pulling more than me. You cannot put equal energy into all things so as priorities shift; it’s important to remember that we are all rowing in the right direction, as best we can, and to remain humble and with a healthy mindset to prevent any negativity or bitterness towards others.
EXPERIENCE We’ve been fortunate to build a foundation of those who are experienced in their industry and have created a partnership around it. One should consider how much experience each person in the mix has. Each of us has come to know enough about the other roles to be dangerous, which is a good safe- guard in case things take turns, but we also structure our operations in a way where we can be the authority while keeping a level head. One should always consider themselves a student, but if you’re going into business with someone or creating an alliance, fully understand what each person brings to the table and if that Is a fair trade. Some partnerships work great, others will fail. When things go downhill early on, it’s been best to cut things off as quickly as possible if the stars are not aligning. Fighting to make something work has never been a good thing for us, and those times caused the most pain. Take decisive action; things won’t always be easy, but you shouldn’t feel like it’s an uphill battle with those who are supposed to be on your side. •
Jeremy Kloter, A Marine Corps Veteran turned Broker, was raised in the Tampa Bay Area. Jeremy is the Founder of Out Fast Property Management, a top Tampa Bay
property management company that manages residential properties and apartment complexes. His other business ventures include being the Co-Founder in a real estate investment fund (506B, Reg. D), a real estate brokerage, and a architecture firm.
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