Extra Space Management

Stories of Excellence: “Think like an owner.”

by Heather Hughes on April 25, 2013

Spencer Kirk As head of marketing for Extra Space, I thought of myself as the protector of the value that marketing could add. This included creating brand equity to accelerate lease up. One day, Spencer said to me, “Think like an owner.” My responsibility broadened instantly. This was probably the most generous assignment I’d ever […]


Spencer Kirk Spencer Kirk advocated hiring great people and then letting them do what they did best. He set big picture goals with the executive team and let us run with it. Spencer frequently said, “Better to beg forgiveness than to ask permission.” In other words, “Think for yourself. Have confidence. I believe in you. […]


Spencer Kirk Spencer Kirk led executive management meetings at Extra Space. Decisions were made quickly. Move, move, move. If the team discussed an issue more than two weeks in a row, Spencer called it out and a decision was made based on the information at hand. It was liberating. Kill analysis paralysis. There was no […]


Stories of Excellence: “Sunk costs.” & “Opportunity costs.”

April 17, 2013
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Spencer Kirk I learned some important investment principles from Spencer Kirk. The first was the concept of sunk costs. The second is related to focus and is opportunity costs. The concept behind sunk costs is that a smart business investor never throws good money after bad. So, if something has failed, no matter how costly, […]

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Stories of Excellence: “Hire people smarter than you.” & “Have a succession plan.”

April 16, 2013

Spencer Kirk Spencer Kirk insisted, “Hire people smarter than you.” and “Have a succession plan.” There was no paranoia at Extra Space. Since team members believed the company would grow, they knew there were new opportunities right around the corner. Believe me, some leaders do not have this attitude. Instead of fostering a buoyant atmosphere […]

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