I stopped going to a favorite restaurant lately.

I loved this restaurant because it was close to my home, the food was good, the portions were fine, they'd work with some of my dietary preferences, and the price was fair.

Because of this it my go to restaurant for everything from "date days" with my wife, to a place where we could met up with a group of people (and have everyone find something on the menu they'd like). 

The problem is, for the past few years the quality has gone down. 

The food doesn't taste as good.

The portions are smaller. 

Their prices have skyrocketed.

The staff isn't as friendly or helpful.

The A/C is often not on in the restaurant

It's obvious the "strategy" they've used to stay afloat in a floundering economy. They've "zagged" by doing what so many companies do, cut, cut, cut everything...and hope no one notices or cares. 

I noticed. I cared. 

In a tougher economy every dollar I spend is extremely valuable, so their changes made me feel as if the value was no longer there for me. So while they saved money, they've lost me as a customer. 

Another restaurant opened up the street, and they've zigged, instead. 

Their food is good. The portions are fine, the prices fair and the value is good. Their people are nice and helpful. And it's about the same distance from our home as the other restaurant. 

So when we go out to eat, it's usually to this restaurant now. I imagine I'm not the only customer that has felt the same. So, but cutting and not investing, and reducing the overall value, are they really coming out ahead?

In the same way, with the current economic conditions, the multifamily housing is feeling the heat of reduced revenue, higher costs, and greater scrutiny to industry practices. 

Therefore many companies will be tempted to do as this restaurant and just cut everything across the board and hope no one notices. 

• Invest in your people. 
  
• Train your people. 
  
• Connect with your people. 
  
• Pay people well. 
• Spend time with people. 
• Listen to the front line. 
• See tech as a tool, not a way to cut "expenses" (AKA people.)

Down times are often an opportunity for companies to create solid foundations for future growth! Double down on investing, equipping and motivating, instead of cutting, slashing, and "spinning."

People are always a good investment.