It Is Rocket Science!

The winner for the most overused phrase at this year’s CoreNet Global Summit in Philadelphia is the term rocket science. Used to describe everything from supply chains to communication skills, the phrase was echoed at nearly every educational session, keynote, and cocktail party I attended at the event. Even more amusing was hearing someone double up on the vernacular by saying something like: “Bottom line, it’s not rocket science,” or “At the end of the day, it’s not rocket science.” Double-cliché Whammy!

Now before I get too far, let me say that the summit was a worthwhile and productive event. Since I just joined United Properties after a five-year career with CB Richard Ellis in Los Angeles, the event was one-part class reunion, one part public relations tour. But what intrigued me most was repeatedly hearing that trite phrase. So, on the plane ride back to my new home in Minneapolis, I got to thinking, what if corporate real estate really is rocket science? Or better yet, is there a way to describe the sector as rocket science? I wanted to refute the speaker next time I heard the phrase at an industry event. Given that May is the launch of the new GlobeSt.com format and the launch of my column under a new corporate title, the answers to my question came easy. Here’s how to build a corporate-services rocket.A rocket needs a propellant. I would describe propellants as the strategies that service providers must employ for success. They may be solid attributes, meaning that they are deeply rooted in the client’s business strategy. They may also be liquid attributes, meaning they are flexible and adaptive to changes in that strategy. In either case, in the rocket age, there is no one-size-fits-all strategy. Your rocket must be custom-built for each client.

Rockets need thrust. It’s all well and good to design and deploy the right strategy, but service providers must act with immediacy and urgency of action. Thrust is that sense of urgency. CoreNet’s theme this year was about risk and reward, and the message was clear: both are time sensitive. Corporate real estate managers must understand the repercussions of moving too slowly–market ramifications, interest-rate effects and the human-resource impact. Service providers should understand the ramifications and help accelerate performance through better decision-support systems and market research.