Property Management Growth with DoorGrow DGS 70: Business Growth with Benton Cotter of RentVest
What should you do when starting a property management business and trying to grow your number of doors?
Today, I am talking with Benton Cotter of RentVest. There’s no question that he knows how to grow a property management business.
You'll Learn...[01:33] Benton’s background and how he got into property management. [03:55] Going nationwide and growing from 79 to 4,000 doors in a few years. [04:33] Steps to take when starting from scratch: Identify kind of company to create to determine clientele and marketing strategy Set fee structure: Do organic marketing, PPC, and SEO. [05:13] Rework Philosophy: Start small, work hard, and start/pay marketing. [06:14] Constant interruptions and constraints; it doesn’t have to be crazy at work. [08:37] Benton built big growth and expanded his network; opportunities are available. [12:16] Being an owner and involved in all of it - from computers to marketing. [13:46] Define your avatar, and narrow your niche. [20:57] Don’t get distracted; focus equals power. [24:20] Identify strengths and weaknesses, but don’t give up ownership too soon. [28:18] Everyone makes mistakes; businesses are built on thousands of failures. [31:07] Put profits back into the business, it will pay off later. [37:35] How to get unstuck in sand trap of 50 units as a solopreneur. [40:07] Entrepreneurs are resilient and adapt easily, but should self-reflect on skill set. [42:30] RentVest’s future goals regarding growth and getting great talent. [44:20] #1 Growth Limiter: People’s ability to offload and bring on new team members. [47:50] Hiring Process: How to filter and find the right fit; ownership is a critical quality.
TweetablesStart small, work hard, and start/pay marketing.
It doesn’t have to be crazy at work; create a calm culture.
Simple secret for growth: Focus equals power.
Put profits back into the business, it will pay off later.
ResourcesIt Doesn't Have to Be Crazy at Work
Profit First by Mike Michalowicz
DoorGrowClub Facebook Group