How do you align your portfolio with your vision and mission?

1 Assess your current portfolio

The first step is to assess your current portfolio and see how well it matches your vision and mission. You can use various criteria to evaluate your portfolio, such as location, size, quality, tenant mix, occupancy, income, expenses, risk, and performance. You can also compare your portfolio to your competitors and your target market to identify your strengths and weaknesses. By assessing your current portfolio, you can determine where you are, where you want to be, and what gaps you need to fill.

2 Define your portfolio strategy

The next step is to define your portfolio strategy, which is the plan that guides your portfolio decisions and actions. Your portfolio strategy should be based on your vision and mission, as well as your market analysis, financial goals, and risk appetite. Your portfolio strategy should outline your target market, your value proposition, your growth opportunities, your diversification criteria, your acquisition and disposition criteria, and your asset management approach. By defining your portfolio strategy, you can align your portfolio with your vision and mission and create a roadmap for your future.

3 Optimize your existing assets

The third step is to optimize your existing assets and make sure they are performing well and meeting your expectations. You can optimize your existing assets by improving their physical condition, enhancing their amenities and services, increasing their occupancy and retention, adjusting their rents and fees, reducing their operating costs, and managing their risk exposure. By optimizing your existing assets, you can maximize their value and profitability and align them with your vision and mission.

4 Seek new opportunities

The fourth step is to seek new opportunities and expand your portfolio according to your strategy and goals. You can seek new opportunities by exploring new markets, new segments, new niches, new partnerships, and new sources of capital. You can also seek new opportunities by identifying underperforming, undervalued, or distressed properties that you can acquire, reposition, or redevelop. By seeking new opportunities, you can grow your portfolio and align it with your vision and mission.

5 Monitor and review your portfolio

The final step is to monitor and review your portfolio regularly and measure its performance and progress. You can monitor and review your portfolio by using key performance indicators (KPIs), benchmarks, and feedback to track and evaluate your portfolio's financial, operational, and market performance. You can also monitor and review your portfolio by conducting periodic audits, inspections, and surveys to assess your portfolio's quality, compliance, and satisfaction. By monitoring and reviewing your portfolio, you can identify and address any issues or challenges and align it with your vision and mission.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?