Executive Letter #17: The Word is Potential

Last week, our staff of 130 came together—in person and over Zoom—for what we call an “All Hands” meeting. Led by my two sons Chris and Brett, our CFO Jessica Stooksbury, and myself, we went over our final numbers of the year, our goals for 2022, and other company updates. We so rarely get to see our many team members all together like that, spread out as we are across so many cities and states, that these times are always special to me.

We ended 2021 in a strong place. We hit or exceeded many of our goals, and when we look back at where our company was a year, two, or five ago, we’re astounded by the progress we’ve made. During the meeting, my son Brett reminded us that it was only ten years ago that I hung signs all around our office, pushing our small team to sell 300 houses by end of year. At the time, everyone laughed. It seemed like a crazy goal. Now, we’re pushing a thousand, and we’re not stopping there.

I closed out the meeting by sharing my goals as CEO for this year, which largely fall under my mission to maximize what our company already has at hand: promising markets, new as well as seasoned investors, and most importantly amazing team members.

Potential is what I’m about this year.

I know our team is exceptional because we don’t hire average people. Team members stay  with us because they trust us, and they see what they can accomplish under our leadership. Often, they surprise themselves at what they can do.

But I’m not surprised. I see it in them and work hard to pull it out. I intend to do even more of that this year.

How to Spot Winners

My go-to list for qualities of high-potential team members is this one from TINYpulse. I refer to it often, sharing it openly across our company. You want to impress me? This is how.

In the All Hands meeting, I highlighted a couple of characteristics from this list:

They contribute to the positivity of the workplace

People often are misled by what this actually means. No need to clown around or paint on a fake smile if you’re having a tough time—that’s the last thing our team needs.

The reality of workplace positivity is pretty simple. Can you be yourself? Can you get your work done? Are you distracted by your team members? Are you distracting?

Who you work alongside is critical to how the work gets done. Complacent folks will create an environment where standards are so-so. Go-getters will raise the bar and inspire everyone around them to dig a little deeper. People who find joy in their work are a joy to be around.

Our hiring standards not only benefit us but also the rest of the team. Bringing in above-average people means that the caliber of the workplace is self-sustaining.

They don’t buckle under pressure

There’s no doubt that there’s hard work required for everyone in this company. However, I have confidence because everyone who works for me is good at what they do.

That’s why the hardest work doesn’t always fall into the day-to-day responsibilities our team members hold. It comes from our executive team, who holds them accountable for the work they did yesterday and pushes them to better their results the next day.

For the type A’s, the entrepreneurs, the leaders, this kind of rigorous accountability isn’t demoralizing. It’s pure motivation. They want to prove themselves and be proud of what they do.

They take on responsibilities outside of their job description

My favorite internal changes come about when a team member demonstrates the potential to do something beyond what we hired them for.

I don’t expect anyone to be good at only one thing only. Why shouldn’t an office administrator work in customer service? Why shouldn’t a closing coordinator move to sales? Why shouldn’t a renovation project manager start bringing in external property leads?

These are all real examples of REI Nation team members who started with us doing one thing and grew into entirely different roles.

I’ve said it before, and I’ll say it again: I look at every job candidate to see if they could fill a seat on our management team someday. Everyone I spoke to last week has the potential to be an executive. A big part of that is being willing to stretch themselves, learn new skills, and rise to the challenge.

Commit to The Grind

While I was talking to my team, I had this quote from John Maxwell pulled up on the screen, and now I want to share it with you:

“The greatest waste in business today is human potential.”

I would be letting my team, my company, and myself down if I let any ounce of potential go to waste. That’s why I’m hunkering down on what’s right in front of me. I encourage you to do the same.

Until next time,

Kent Clothier
Chief Grind Officer