As a startup property management business, it's easy to find yourself operating more like a sole trader or freelancer than the CEO your future business needs.
Like most startups in the early days, it’s natural to wear all the hats – from property management to marketing, being the BDM, tackling legal issues, and accounting.
But at some point as your existing client base grows it becomes very hard to do it all and continue to grow the business. Hello burnout town.
Whilst you have a desire to grow your business to the next level, it's likely that there are old mindset patterns that are keeping you stuck.
Phrases like “I’m just a property manager” or “It’s just a small business”, alongside thoughts like "it’s easier if I just do it myself" or "no one else can do it my way."
But, to grow your property management business and achieve the incredible income and impact goals you dream of, you’ve got to start acting and thinking like a business owner, which means ditching the old startup owner operator mindset and ways of working.
When you make shifts AWAY from the startup attitude, you can start to step into the CEO role in your business, and thats when the magic happens.
Becoming the CEO of your business means considering:
1. Performance, not hours.
CEOs get paid for how well their system performs, not how long they spend inside of it. Knowing how to set strong foundations and systems that allow you to scale is key.
2. CEOs know their numbers and manage their resources like a pro. If I asked you what your profit margins are, could you tell me? What if I asked you about your cost of acquisition per client? How much of your gross revenue is dedicated to operating expenses or what your average customer value is? Knowing your numbers beyond just your fees will elevate the decisions and strategies you use to grow.
3. CEOs know that their job is to elevate others to leadership. Most startup property managers are used to being the "go-to" for solving problems and have learned to depend on themselves and have a hard time letting go. Evolving your leadership to think about "not how, but who", is going to free you up massively to focus on growth.
Are you stuck in the startup property manager mindset? As I often say, awareness is the first step to create change...
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