Evernest Property Management Show (Formerly 300 to 3,000)
Episode 113: Should You Manage 300 or 3,000 Doors?
Jan 8, 2024
The podcast discusses the decision-making process for property managers, emphasizing the importance of setting a vision and goal. They also highlight the importance of endurance and commitment in building a business. Hiring A-Players for company growth and being intentional and focused in property management are also discussed.
32:41
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Quick takeaways
- Scaling a business involves financial challenges and leadership transition.
- Scaling a business requires substantial capital investment and resilient team members.
Deep dives
Scaling a Business: Understanding the Tradeoffs
Scaling a business involves making intentional decisions and understanding the potential tradeoffs. As businesses grow, they often face financial challenges, with investments needed ahead of revenue. Owners should be prepared for a period of negative cash flow and recognize that scaling does not guarantee immediate increased profitability. Moreover, leadership transition is crucial, as the skills required to manage a small operation differ from those needed to lead a larger organization. It is important to have a long-term vision, commit to the journey, and surround yourself with resilient and capable team members.
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