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Action Academy | Replace The Job You Hate With A Life You Love
How To Go From $0 To $1,000,000,000 + (Through Multifamily Investing) w/ Logan Rankin
Sep 13, 2023
Logan Rankin, former retail operations leader at a fortune 50 corporation, shares his journey from corporate job to building an impressive multifamily portfolio. He emphasizes the importance of strong systems and teams in investing, building business architecture for future growth, and the concept of games in life. They also discuss improving customer service, building a well-structured organization, and the importance of bringing in outside leaders. Lastly, they delve into structuring the future and internal growth.
01:08:19
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Quick takeaways
- Designing standard operating procedures (SOPs) with clear metrics and tying compensation to performance can drive operational efficiency and employee engagement.
- Providing a great customer experience involves simple steps like addressing customers by name, giving genuine compliments, and effectively resolving issues, which can be incentivized through scorecards and compensation.
Deep dives
Creating a Game: Building an Effective Business Ecosystem
The podcast discusses the importance of building a strong business ecosystem to support growth and success. The host emphasizes the need to think of business as a game and create rules that everyone can follow. He explains that designing a standard operating procedure (SOP) should not be for rock stars, but for average individuals who can easily learn and implement the processes. The SOP should address key metrics and goals, such as speed, cost, quality, and customer experience. The host suggests tying these metrics to compensation and creating scorecards to measure performance. Additionally, he highlights the importance of employee autonomy and incentives for continuous improvement.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode