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Millennial Investing - The Investor’s Podcast Network
MI300: Niche Down to Scale Up w/ Peter Lohmann
Oct 23, 2023
01:08:42
Snipd AI
Peter Lohmann, CEO & principal of a real estate and property management business, talks about how he got his start in real estate, scaled up his business, and allocated time for maximum ROI. He discusses niching down to scale up, the principal/agent problem in real estate, and the importance of visionary and integrator roles. The podcast also covers topics like finding great tenants, aligning incentives, traction, Airbnb, Masterclass, Shopify, and the practice of writing threads on Twitter.
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Quick takeaways
- Niching down is crucial for the success and growth of a small business by identifying a specific target audience and focusing on their needs.
- Transitioning from being a technician to a business owner requires a mindset shift, recognizing the value of time and leveraging it effectively.
Deep dives
The Power of Niching Down as a Small Business Owner
Niching down is crucial for the success and growth of a small business. By identifying a specific target audience and focusing on their needs, businesses can better market and sell their products or services. In the case of property management, the journey of niching down involved starting with a broad range of property types and services and gradually becoming more specialized. By narrowing their focus to a specific niche, such as managing two to four-family rentals in a particular neighborhood, the business was able to attract more targeted customers and deliver exceptional service tailored to their needs.
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