Before the year runs away completely TwentyTwo's Managing Director, Dean Croucher wanted to share his quick tips on how you can prepare for next year!
While many of you will still be in Q3 from a financial year perspective, the end of the calendar year is a great time to reflect on what you’ve achieved, how well you’re placed and what your priorities should be when you’re back from your time on the beach.
At this point I want to focus on those of you responsible for occupier portfolios – owner/occupiers and tenants – either with a handful of properties or a wider network.
Dean's 3 key areas to reflect on
If you are one of these people – either directly responsible or in a senior management role with ultimate accountability there is 3 key areas I’d recommend you reflect on:
- Firstly, how well does your current portfolio (it doesn’t matter if it is office, retail, industrial, special purpose or a mix of assets) align with your companies business strategy? How much is that strategy going to change in the future and how well is the portfolio placed to adapt to that change.
- The second question that flows from that is asking yourself how well engaged is the property/workplace or infrastructure “group” with the business? How often does it sit down and have these types of conversations? What formal processes are in place to keep in sync with the business?
- How well do you know your portfolio – how robust and reliable is the data and is the reporting you are doing giving the right information to you and senior management? If your company or organisation was involved in a merger or some other major change, how confident are you that you can provide an accurate and timely snapshot on your portfolio?
So before you finish for the year:
- Sit down and think about these issues
- And assess where you are at out of a score of 10
- And then put that to one side
- Have a good break over the summer period
- And when you are back
- Dust off this list and develop a plan to close any gaps you identified
Happy reflecting and planning.