Heyday, an Arlington Heights, Illinois-based development company, was founded by Ryan Swingruber and Josh Wohlreich. The firm is a quickly growing company focusing on multifamily development with a national footprint. Heyday recently celebrated the grand opening of its first community, and has several other developments underway.

Heyday is making waves in the build-to-rent (B2R) space, and Swingruber explains how he leads in this niche but fast-growing commercial real estate market.

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

A: It’s important to always stay positive, optimistic, and focused on long-term goals. A leader’s mindset is highly contagious in a team, and challenges are more likely to be overcome when everyone has bought in, and all are working toward a common goal.

Q. What’s the most common mistake leaders make in an inhospitable market?

A: Losing sight of the long-term and only focusing on the short-term is a big mistake. Down markets are cyclical, and it can be common to focus on the short term when times are difficult, and manage accordingly, thereby potentially losing sight of long-term value and opportunities.

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

A: It sounds very cliché, but fail to plan and plan to fail. Also, everything that can be measured can be managed.  A lesson for my younger self would be to spend the proper time understanding all the data and variables in play, then create a plan and trust the plan. From there, successful execution is far more likely. 

Q. What’s the best decision you’ve ever made as a business leader?

A: Realizing my strengths and weaknesses at the onset of a project and, from there, empowering those around me who know more than I do with the resources and support to carry out the task. I am definitely not the smartest person in the room, so the goal is always to identify key talent and expertise and leverage their strengths and knowledge to succeed.