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Lately people have been asking me what it takes to lead a successful commercial real estate development company, one that has been successful even in a down economy. While I can't speak for every leader in every situation, I can talk about what has worked for Neyer Properties. 

First of all, you have to lead with passion and strong convictions. You must be able to inspire and motivate people and make sure you have the right culture that promotes honesty and integrity above all else. Profits and sales goals should never be the only goal; they are a result. If you provide good value, profits and growth will follow. If you do the right things in the right way, you will have opportunities to grow and be profitable. 

Everything ties into that. Our company committed itself to green building, for example, because it was the right thing to do and it benefits everyone in the long term. We started with that concept, and did the research, discovering along the way how green building and its subliminal effects on people adds to their contentment level at work as well as their good health, which results in improved employee retention. Happy employees come to work more often and stay longer in a job, which increases productivity and reduces employee training costs.

These are benefits in addition to helping conserve natural resources, energy, and water.

Secondly, embrace change, or, in my case, pursue change. It genuinely works. See things that others don't see, and don't wait to act. If you wait too long to act, you may end up with tire tracks on your forehead. View obstacles as opportunities and figure out a way to go over, under, through them. Turn the negative to a positive. 

Third, never give up. If you are knocked down, get up. Failure sometimes is the best way to enlighten you on the road to success.

Fourth is motivation. There are more reasons not to do things than reasons to do them sometimes. Provide something that others will want and desire, even if they don't fully understand what it is. It's all about value; how you create it and how you provide it. 

Finally, stick to your knitting. Keep focused on what you do best, but be flexible enough to try new things. You don't want to be too focused, like the auto industry has been. They built cars that they wanted to build, and not what people wanted to drive.

Today's environment is one of the best in which to start a business. Technology is at your fingertips. Find a need and fill it, but be certain it's the right thing for you and your potential customer base.

Dan Neyer is the recipient of the 2008 Ernst and Young Entrepreneur of the Year Award; 2008 Better Business Bureau (BBB) Torch Award for Marketplace Ethics; and the 2008 National Assn. for Industrial and Office Properties (NAIOP) Developer of the Year Award.