The way we measure and conceive effective business leadership has changed significantly over time. Vrzic (“ver-zich”) is a highly successful real estate investment company in the United States. Backed by Marko Vrzic’s strong leadership and guidance, the business has flourished because of its practical and ground-breaking strategic approach.
Indeed, the business endeavors to strategically purchase and invest in multi-family properties in landlord friendly states. These investment opportunities are within a medium household range that is recession-proof and undoubtedly have a high yield in generating cash flow for the investors. Another critical element when purchasing these multi-family units is to source assets that still has some “meat on the bone”, Marko and his team increase the value of the property drastically without affecting the tenant’s monthly rents.
We were able to ask Marko a few questions about his eponymous business and his view of business leadership.
Marko, what do you think are the most important attributes required of a business leader?
Uncommon knowledge to most people is that in a pack of wolves that are heading in one direction, the leader is usually in the back nurturing the new leaders who are leading the front while energizing the core unit and looking from the end for those who need extra help.
How was Vrzic formed? Did it all begin with your unique redevelopment approach?
It began from the success of “My Renovations” a Brooklyn redevelopment company that utilized the systemized wealth strategies to redevelop single residential properties. From there, I invested all the savings and capital in single-family homes in Brooklyn and took a unique spin on the market by selling superior properties for far less than the market value.
This gave me the buying power for Vrzic to purchase commercial assets, specifically in multi-family buildings. Vrzic became a brand that is centred around, growing the wealth of families around the world.
How do you successfully differentiate your firm from your competitors?
Being the overly optimistic person that I am, I cringe at the fact of thinking that people still see peers as competitors. In real estate, you sometimes buy and sell to people that can potentially be your partners so it should mutually eliminate rivalry.
How have you developed your leadership style?
I was fortunate to have some of the worst bosses that were lacking tremendous self-awareness and who were not open to criticism. This led me to build a Meritocratic society within my company that puts me in no control and brutal criticism from my team on every decision I make.
Regarding leadership, what have been some of the memorable mistakes, you have made and how did you learn from them?
I need to stop spending time trying to fix my weaknesses and hire passionate people in the field that I lack in so that I can focus solely on my strengths. My strengths will generate ten times more revenue while my weaknesses will cost me ten times more time, and time is money.
What would be your advice to other finance gurus looking to ascend the leadership hierarchy?
Find the most inaccessible role model in your field, stalk them for six months by asking them to work for free by their side for a full day and then show up the next day to work for free and continue until you have mastered what it is that they do so effectively.