E260 Walt Rakowich - Leading a Real Estate Organization with Transfluence: Executive Leadership in Tumultuous Times, Transforming an Organizational Culture From the Former Prologis CEO Elevate with Tyler Chesser - The Real Estate Podcast for Investing, Mindset and Personal Development

Walter C. Rakowich is the former CEO of Prologis, a global real estate company that was near collapse when he took over as CEO in 2008. During the economic downturn, the Prologis stock had dropped from over $70 per share to approximately $2 per share in 10 months, making it the third-worst performing company in the S&P 500. After Walt joined as CEO, he quickly implemented a change in culture through transparency, orchestrating a dramatic turnaround and restoring its position in the industry.Tyler and Walt discussed how Walt led Prologis from the brink of collapse during the great financial crisis and wisdom on how you can become a great leader within your organization.Highlights include:
Walt’s foray into leadership at Prologis
The strategic and, most importantly, cultural moves Walt made as CEO 
The importance of transparency in leadership
The three best practices that Walt made time for each morning
The leadership concept of the inverted pyramid 
Walt’s leadership concept of Transfluence (transformational influence)
The root cause of pride and/or fear in a leader  
Transactional and transformational relationships
Why most employees leave their jobs
Three different climates that create opportunities and challenges for leaders
Why you need to focus on the journey, not the destination
Walt’s 3H Core: Humility, (consistent) honesty and heart
How Walt starts his day with a clear mind
 
Connect with Walt:
Website: https://waltrakowich.comTwitter: https://twitter.com/waltrakowichInstagram: https://www.instagram.com/waltrakowich/LinkedIn: https://www.linkedin.com/in/waltrakowich/Facebook: https://www.facebook.com/WaltRakowich/The following books were mentioned in the show:
 
Transfluence by Walt RakowichHalf Time by Bob Buford and Jim CollinsThe Purpose Driven Life by Rick WarrenAre you a real estate investor looking to elevate your income, freedom & lifestyle? If so, optimize your daily performance by downloading our free guide, Raising the Bar - 5 Steps to Elevate Your Habits, at elevatepod.com.In this guide, created by your host Tyler Chesser, you’ll learn why you do what you do, how to easily institute cues in your environment to trigger desired behavior, directly applicable steps to create a fulfilling future and much more.Get your free copy at elevatepod.com and kick-start your new habits today. Your future self will thank you!This episode of Elevate is brought to you by CF Capital, a national real estate investment firm. CF Capital’s mission is to provide property investment and asset management solutions to help investors like you maximize their returns by investing in high-value multifamily communities.If you are looking for risk-adjusted alternative investments in quality apartment communities, and are seeking tax optimized cash flow with appreciation upside without all the hassle of management, you might benefit from learning more about investing alongside our team. You’re invited to reach out and learn how you can invest with us by visiting cfcapllc.com.We’re also currently offering a free ebook called The Bottom Line - 10 Ways to Increase Cash Flow in an Apartment Complex. Whether you’re a new or an experienced investor, we’re confident you’ll find massive value in this resource. Get your free copy today at cfcapllc.com.