What every CEO can learn in one day from college renters

"Running a large company, you will not be surprised to learn, is a richly rewarding experience. Success itself is nice, of course, but being a CEO delivers its fair share of privileges that go beyond the bottom line, from managing a skilled and ambitious staff to growing a community of satisfied and grateful customers. But being a CEO is not without its perils. Occupying rarified spaces in corner offices of large steel-and-glass towers, it's easy for accomplished executives to grow disconnected and aloof."

"Our company, Scion, owns and operates apartments for students at 82 colleges and universities in 35 states, totaling nearly 95,000 students. This means I've had plenty of opportunities to closely observe students, their priorities, and their sensibilities. And these observations have delivered some of the best insights into running a business one could ever receive. Five in particular stand out:"

"The truth, actually, couldn't be more different. Decades of data suggests that, when it comes to anything from choosing a university program to selecting a place to live, young Americans are practical, responsible, and price-conscious. Companies making any decisions based on unchecked preconceived notions would likely find themselves in trouble, while those taking the time to observe what clients truly want will thrive."

Running a large company offers rewards beyond financial success, including leading skilled staff and serving many customers. Executives can become disconnected in isolated corner offices, creating a risk of aloofness. Close exposure to college students through large-scale student housing operations provides concrete, practical lessons for business. Young Americans often act in practical, responsible, and price-conscious ways when choosing programs or housing. Companies that avoid stereotypes and observe real customer behavior can better align offerings. Students favor seamless, simple interactions and clarity in transactions, which helps businesses improve service and avoid costly misconceptions.

Read at Fast Company