A solid team is needed for any property management business to grow and be sustainable. One of the largest challenges of having, building, and retaining a team is creating an environment that enables team members to thrive. Having a culture and vision is foundational for attracting and keeping the right people on that team.
In this episode, I interview Tim Wehner from Dodson Property Management. Dodson is a large company with a large team, which is perfect for today’s topic of having a culture and vision within a property management business. Tim shares how they create a culture at Dodson and how a shared vision helps motivate team members.
[03:43] Writing out a mission statement, company values, and vision. Then taking small steps to accomplish those.
[05:43] Dodson has about 1475 properties under 10 units and 4000 in the multifamily department.
[07:43] How important it is to make sure everyone shares the same vision and values.
[09:44] Dodson promotes long lasting relationships by dividing groups into pods.
[10:23] Dodson and their purpose or mission statement. Creating a positive relationship with tenants and owners. Trust, comfort, and pride.
[11:57] Values are to be empathetic, honorable, driven, and courageous.
[12:39] Vision to positively impact over 500,000 lives by 2025 is where they want to go at Dodson.
[13:24] The importance of community within their vision and the impact they make on the community.
[14:27] Inspire others to love true principles at Door Grow. Energy management and what is in line with purpose. Learning and sharing for fun.
[19:28] Trust and relying on each other and being able to share while talking with people like they are human beings.
[23:20] Being open to employees with new ideas.
[24:46] Challenges dealing with things like gossip and office politics. Trust and open dialogue go a long way.
[32:07] Making sure a job is a good fit and the team member will be motivated in their role.
[40:21] Celebrating wins and asking how to give support as a leader. This allows feedback and creates momentum.
[46:04] How memories don't even exist unless there is emotion attached to that. Create positive emotions and wins.
[52:02] Finding what is working and continue doing that.
[52:22] Get clear on your purpose and values. Have a vision of where you want to be.
It’s not important to copy another business's culture. It’s important to discover your business's culture.
Our goal is to deliver a living experience unlike any other.
We are a people business that not only focuses on clients but also tenants and customers.
Tim Wehner Twitter @wehner1tim
Tim@DodsonPropertyManagement.com
804-426-1660
Wehner1Tim on Snapchat
KingJasonHull on Snapchat
When starting and building a business growth is an important factor. Emulating successful people can also be a shortcut to success, but keep in mind that doing the same thing as someone else that is in a different growth stage doesn’t make sense. Different tactics need to be used in different growth stages.
In this episode, I am talking with Steve Rozenberg from Empire Industries. Steve grew his business from zero to 700 doors in four years. Steve has a really interesting story that he is able to go out and share because he is supported by a really great team. We talk about Steve’s story, stages of growth, and more.
[03:24] Steve's background as an airline pilot and how 911 was a pivotal point in his career and life.
[06:37] He was attracted to real estate because he liked the fact of leveraging time and money.
[07:11] He was doing well with houses and apartments, then he bought 20 low-income properties and got in over his head.
[08:32] While trying to solve his low-income housing problem he and his partner ended up creating a business model for property management.
[09:22] Their first hire was a business coach, then their first full-time employee.
[09:46] They are a sales and marketing company that trains employees to close.
[11:33] If you run a property management business you should be focusing on things other than the actual management.
[13:20] Having a strategic 30,000-foot view of your business.
[17:41] Helping your team in order for them to support you.
[20:12] Doing a time study to understand where time is spent. Time needs to be on strategic business.
[28:06] The importance of mindset and positive self-talk. We can talk our brains into and out of things.
[30:47] The transition of handing the reigns over to your time after being the person who did everything themselves.
[33:39] Growing a company to your level of incompetence, then you need to grow your level.
[38:23] The importance of looking at the numbers and the cost of marketing.
[43:40] The importance of branding yourself as an expert and building an awesome reputation.
[01:01:33] How your number 1 prospect is your existing customer. Asking for referrals is also a good idea.
As a leader, your job is to grow the team and encourage them not to say “get out of the way I’ll do this better than you”.
I’ve learned that the way to grow a company is to surround yourself with much smarter people.
It’s not doing one massive action, it’s taking action continually that has been the key to our success.
Call Steve (888)866-6727