Leading in Tough Times: Larry P. Heard, Transwestern

Throughout the month of August, Connect CRE is running a series titled “Leading in Tough Times.” We’ve asked leaders around the U.S. and across the commercial real estate spectrum to share their wisdom and discuss lessons learned. In this installment, you’ll hear from Larry P. Heard, CEO of Transwestern. 

Q: What’s the most important lesson you’ve learned about leading in challenging environments?

It is critical to activate your entire firm, get each team member to understand the issues, and then inspire them to work hard to solve for the best results. Over the years, we have found that super-transparent communication is the best way to generate that outcome. Tell your people what is going on, do not shield them from the bad news and lay out the plan to get to the other side of the challenge. Also, lean on shared sacrifice as part of the plan (everyone from the C-suite to your folks in the field), as it can build culture as you navigate through a downturn.

Q: What leadership advice would you like to give to your younger self?

Be bold and creative but be tough and resilient when your plans do not work out, or you face setbacks. Select great partners (good people) to team with to pursue your professional goals. Develop effective communication skills, which usually entails being a great listener. Share the credit and be prepared to stand up and accept the blame. Be humble, possess integrity others can count on and enjoy what you do – have some fun with your career.

Q: What’s the most valuable leadership advice you’ve been given?

Two jump to top of mind. Try to live at the intersection of what you love to do and what you are really good at, and enough money will find its way to your door. The second is to possess the dynamic tandem of being humble but exceedingly passionate about your work. If you believe in the mission or the cause, you will perform at a higher level and usually refuse to be turned away.

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