One of the greatest challenges, and opportunities of leadership today is balancing experience with evolution.
Speaking with a good friend and business owner of one of the country’s best real estate offices, we agreed, sometimes as leaders and business owners, especially those from Gen X and Baby Boomer backgrounds, we often rely on the habits and strategies that have brought us success in the past.
Yet, in a world often described as VUCA (volatile, uncertain, complex, and ambiguous), clinging too tightly to familiar patterns can limit growth, stifle innovation, or worse, lead to the eventual demise of a business.
“Yes, And” is Better Than “Either-Or”
I remember when I was a young salesperson pushing for a leadership role. At the time, I saw firsthand how established leaders were attached to long-standing norms that no longer resonated with emerging generations.
A simple yet powerful example was the outdated, stiff ‘80s salesperson look (think ex-bank manager), overly formal and unrelatable to modern clients. My peers and I wanted a fresher, more authentic image that better connected with our generation’s clients.
While this change seemed radical to some at the time, it eventually became the norm. Fast forward to today, and now it’s the younger generation pushing us, those same leaders from back then, to embrace updates and improvements, such as new technology, AI, and outsourcing solutions that challenge traditional ways of working.
But this doesn’t have to be an “either-or,” “my way or the highway” debate. The best approach is a “yes, and” mindset, one that integrates experience with fresh perspectives to create something even better.
The Mindset to Staying Relevant
Mental fitness plays a significant role in how we approach change. Leaders who adopt a growth mindset, one that sees new ideas as opportunities rather than threats, will be best positioned to thrive.
Instead of dismissing younger team members’ insights as naïve or inexperienced, we should recognize the fresh perspective they bring. They are often closer to evolving client behaviours, emerging technologies, and cultural shifts that impact business success.
This doesn’t mean leaders should roll over and accept every new idea that comes across their desk. Rather, it’s about applying the twin pillars and timeless wisdom of: Humility and Temperance.
The Virtues of Humility and Temperance
Two virtues that can help leaders navigate this transition effectively are humility and temperance. Humility allows us to acknowledge that we don’t have all the answers and that learning is a lifelong process.
Temperance helps us balance confidence in our experience with openness to new perspectives. By creating a culture where younger professionals feel heard and valued, we can build businesses that are values based, innovative and driven by experienced wisdom.
Plan for Succession Before You Need It
Youth can also provide another solution. A common threat to many organizations, especially within our industry, is the aging demographic of business owners.
In my experience, many haven’t thought about succession until they’re ready to retire. This can often leave them rushing the process and, in some cases, literally “selling themselves short.”
The best approach is to start planning for succession well before it’s needed. More often than not, the best person to drive and eventually own your business could be the young talent you’ve already recruited.
With the right amount of time and mentoring, you can create a win-win scenario for your succession plan.
A Tip for New Leaders
As someone who was fortunate to be included in my first business owner’s succession plan, and who has since gone on to lead several real estate brands across Australia, my biggest learning from stepping into a leadership role 20 years ago is this: remember the 2:1 ratio in your first few weeks or even months on the job.
That is, two ears and one mouth, do twice as much listening as you do speaking. Take the time to hear what your key people, stakeholders, and clients are saying about their needs and wants.
Don’t assume you already know. It’s always best to diagnose before you prescribe. Some of your ideas may be a “not yet”, meaning that groundwork, such as building trust and culture, needs to be done first.
Often, a strong foundation of trust makes implementing change far smoother and more effective.
Moving Forward Together
As leaders, our role is less about dictating the future and more about guiding and shaping it alongside those who will inherit it. By embracing fresh thinking, leveraging the strengths of younger generations, and applying our own wisdom with adaptability, we create businesses that don’t just survive change, they drive it.
When it comes to embracing young talent, the challenge for leaders is simple:
How can we step into a “yes, and” mindset?
How can we ensure that the experience we bring, complements the fresh energy of new generations so we remain relevant?
How and when do we pass the leadership baton on to ensure it’s a win/win.
The future of leadership and our industry depends on us.
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