BCBusiness

BCBUSINESS.CA NOVEMBER 2017 BCBUSINESS 45 Kelowna, Edmonton, Regina and Winnipeg, and its more than $60 million in annual revenue, suggest that Wasylyk's mentee—and everyone else—needs to keep watching. Renee Wasylyk was born in Drumheller, Alberta, in 1976, but moved almost immediately to southern California, where she grew up in Orange County. After high school, she was drawn, mysteriously if irresistibly, back to Alberta—to Edmon- ton, where she did a BA in religious studies and a mas- ter's in theolo'y at Taylor University College and Semi- nary (then a•liated with the University of Alberta). She met and married another Albertan, and when she got pregnant with the —rst of their three children, they moved to Kelowna—"for a year." That was in 1998. There being no jobs to her liking, Wasylyk created one. She'd been fascinated by real estate development since high school, when she job- shadowed a project manager at Irvine Co., which, dating from 1864, is one of the oldest and most successful develop- ment —rms in western North America. Yet when she bit oœ her —rst venture, a small mixed-use building, Wasylyk says, "I knew enough to know what I didn't know." So she went looking for advice from some of B.C.'s best developers: Joe Segal, David Podmore (Concert Properties Ltd.) and Peeter Wesik (Wesgroup Properties and ParkLane Ventures). She asked each of them three questions:What would you do all over? What would you never do?What would you tell your younger self? "These guys were so kind in giving me time," Wasylyk recalls. "It was like I was young and female and didn't pose a threat." The most memorable counsel came from Podmore, who told her that if she wanted to succeed in development, she should also start a construction company. Otherwise, when the market is hot, it's a constant—and incredibly expensive—hassle trying to get your projects done. Wasylyk took the advice and built an empire, an integrated development and construction —rm with a full complement of tradespeople: framers, electricians, plumb- ers, drywallers, cabinet- makers—the works. By the mid-2000s, when one of her children asked her what she did for a living, she said, "I feed 180 families." When the economy tanked in 2008, that turned out to be about 100 too many. Troika was sitting on quality projects, but it couldn't get past the cash crunch. "In the 1980s, money cost 18 per cent, but people would still lend it to you," Wasylyk explains. "In 2008, no one would lend you money at any rate. It was catastrophic." She says she could have declared bankruptcy or just cut loose all the tradespeople and suppliers. "Or I could sell my assets at pennies on the dol- lar and make sure everybody got paid." That's what she did. Wasylyk thinned out the organization, ultimately drop- ping from 180 to 70 full-time employees, but she did it slowly enough that everyone had a soft landing. "I didn't want to be a developer who chased the market," she says. "I wanted to be a community leader and builder who was here for the long term." Wasylyk's leadership advice now? Go ask someone in your business her three questions. The answers may be complicated, but there is wisdom in listening. And does she recommend her own industry? "Abso- lutely. If you like roller coast- ers, you'll like development. Just close your eyes, put your arms in the air, and enjoy the ride." —R.L. How would you describe your leadership style? Relational and transformational. Organizationally, we don't have a hierarchy; we have a matrix. It's not an org chart; it's a circle. You'll never hear anyone call me cutthroat or shrewd. I'm always looking to find the greatest win-win. What's a common myth or misconception about leadership? That leadership is glamorous or easy. It's lonely and isolating. And you never really know what people think. You really have to have intrinsic motivation— to do more, get better, listen more. What three things would you tell a young person who aspires to become a CEO? Don't worry about becoming a CEO; worry about becoming a better person. Be careful what you wish for! Leadership isn't about position; position will never make you a leader. People make you their leader. 3 1 2

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