Episode Details

We recently learned that most property managers have an awful profit margin in their businesses. If you struggle with profit in your PM business, you won't want to miss this.

Join Jason and Sarah Hull from DoorGrow to learn about how to improve your business, team, and profit margin by making small improvements with BIG impact.

You'll Learn…

[01:18] Why do property managers have bad profits?

[05:11] You need a better team

[07:06] How do you know if someone is the right fit?

[14:09] Deciding if YOU are in the right roles

[18:10] Why you need a strategic planning system

[22:57] How to fix your team

Tweetables

"If you have team members you don't feel safe giving up a chunk of your business to run for you, it's because they don't share your values. And if they don't share your values, you'll never trust them."

"It doesn't matter how many doors you have or how few doors you have, you can have a really bad profit margin."

"The average profit margin for companies in the 50th percentile is only 1%."

"The easiest low-hanging fruit to increase profitability is to tackle the biggest expense in your business if you have a team… people."

Resources

DoorGrow and Scale Mastermind

DoorGrow Academy

DoorGrow on YouTube

DoorGrowClub

DoorGrowLive

TalkRoute Referral Link

[00:00:00] If you have team members you don't feel safe giving up a chunk of your business to run for you, it's because they don't share your values. And if they don't share your values, you'll never trust them.

[00:00:09] Welcome DoorGrow Hackers to the #DoorGrowShow! If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others impact lives, and you are interested in growing in business and life, and you're open to doing things a bit differently, then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income.

[00:00:48] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the bs, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host property management growth expert, Jason Hull, the founder and CEO of DoorGrow here with Sarah, the COO of DoorGrow. And now let's get into the show.

[00:01:16] So what are we chatting about today?

[00:01:18] We are going to talk about profits.

[00:01:21] Okay. I'm noticing this trend lately in talking with some clients, in talking with property managers, that some companies that are struggling with profitability-- which tends to happen when you have a team, usually in the 200-600 door range. Some are now maybe two to 400 range, which I call the second sand trap. A lot of times I'm noticing that they're trying to figure out profitability. They're like, " we don't have a good enough profit margin and-- Oh, we just did a cool video.