#DoorGrowShow - Property Management Growth

Transcript

[00:00:00] I love being in my business. I love getting to do what I get to do. I don't have to wear hats or do things in my business anymore that I don't like doing, and that's our goal for our clients is to help them build that business that is built to sell, but that you don't want to. That's the ultimate freedom in business

[00:00:16] 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 in 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. 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. Now, let's get into the show.

[00:01:16] All right. So, today's topic: we are doing this really cool event it's happening this week. So by the time you see this, it may have already happened. If some of you are following us on iTunes or podcast apps or whatever, this may have already happened, but we're doing a live in-person event. DoorGrowLive, the first event we've done in a long time, and it's gonna be here in Austin and it's gonna be awesome. So we've got this event that we're doing in person. It's mostly gonna be just our clients. I think we have a few attendees or small handful of attendees that are not our clients that are gonna be in attendance, but this is going to be mainly for our clients. It's open to other people. If you're watching this live and you want to be there, you can get a ticket. You can go to doorgrowlive.com and get a ticket, and we have other events. We're gonna be doing an event-- not annually-- we're gonna be doing an event with our clients once a quarter because we have almost a hundred clients in our mastermind and we want to get together in person and meet, and this is going to be awesome. This gives us an opportunity to get together, have speakers. And in our mastermind group, we've got so many people now we're organizing them into tribes, and so they get to create friends and connections. It's super cool.

[00:02:28] So what our current program is it's called Built to Sell, and so the idea is to build a property management business in the next three to five years. That you have the option of selling. It doesn't mean you'll take that option, doesn't mean that you will exit your business for seven figures, which is the goal. You might keep it, right? And that's probably the goal. The ultimate goal is to have the freedom to exit your business, but not want to because you've built it to be fun and you've built it to give you maximum levels of fulfillment in life and freedom, and it's a source for you to contribute and make a difference. And you feel like it's feeding you life. Like you love being in your business. That's the business I have. I love being in my business. I love getting to do what I get to do. I don't have to wear hats or do things in my business anymore that I don't like doing, and that's our goal for our clients is to help them build that business that is built to sell, but that you don't want to. That's the ultimate freedom in business. And so, this Built to Sell program-- built to sell in three to five years to get a seven-figure exit if you want to-- is very doable. It's very doable.

[00:03:37] It's something we know we can help clients do, and the first portion of that, the first 90 days is the Rapid Revamp, and so this is where we are cleaning house on these businesses. This is like _Bar Rescue_ or _The Profit_ or any of these shows where you see them revamp businesses, we are helping them revamp their business. We're cleaning up everything, and I could go over the entire roadmap if some of you are interested in that, but that is the goal is you want to build a business that gives you the ultimate level of fulfillment, the ultimate level of freedom, the ultimate level of contribution, the ultimate level of support. That's why we build a business. It's why we have a team, so we don't have to wear every hat. We don't have to do the things we don't enjoy. We don't have to live in the minus signs in our day, our day's all plus signs. So if you're a property management business owner right now, and you're like, "I know that this is not how it's supposed to work," you might be in that first sand trap as a solopreneur and you're stuck and you're struggling. I've seen hundreds of clients like this and companies and we help them solve this. Like it's an uncomfortable place.

[00:04:41] They call it the solopreneur sand trap. There's lots of people that are in that second sand trap, which is that team sand trap. This is 200 to 400 units usually, and they're like really struggling to figure out: "Why can't my team just be great. Why can't I find great people? Why do they have to keep coming to me and asking me questions all the time for everything? And I feel like I'm taking crazy pills because I'm just constantly inundated with interruptions and having to micromanage my team and approve every major decision, and I'm not even doing the things in the business that I think are the most fun, that feel like the most fulfillment and the most freedom and contribution. I don't feel supported. I feel like I'm having to support everybody else." You've built the wrong team in the wrong business, around the wrong person. That's the problem is you are showing up as the wrong person in your own business, and so this is the idea: Built to Sell. We are helping build the entrepreneurs and businesses and the goal with the entrepreneur is we just need to build you up to be the business owner that can have the business of your dreams. If you don't have the business of your dreams, it's because you don't know what you're doing to some degree. You're doing some of the wrong things. You're doing things that are minus signs for you in your day-to-day.

[00:05:51] You only need maybe about 200 plus doors and about five team members to probably max out on those four reasons if you do it the right way, and then you can have the business of your dreams, be taking vacations. You could be doing the things you want to do. You could have plenty of profit. A member of my team has a property management business, and they have somewhere around, I think, 200 doors and they have 60 to 70% profit margin, and these are C-class properties. And they are not doing really much in the business. They're working basically full-time in my business and they have one part-time person boots on the ground that does the stuff that they need done. That's how efficient property management businesses can run even with C-class properties.

[00:06:36] Right. And so, we're really good at helping you cut your staffing costs in half, reduce the phone calls, reduce interruptions, build the business of your dreams, and that is the goal of the Built to Sell program. That's the goal of this program that we have over the next three to five years that we want to do with you in your business. So, we're really excited. Our next event's going to be in October. So if you want to be at that and come see what we do and come see the momentum that people are creating, come hear from people and see what's going on at DoorGrow. We're creating magic in this industry. I don't think anybody else is doing anything like this, and if you are somebody that wants to coach other property managers, you're like, "Hey, I've had some success, and I want to give back. I want to be in that state of contribution," we will pay you to do that. You can come join DoorGrow. It could be a part-time gig while you run your own company and you can come be part of our coaching team and dedicate a small amount of time out of your month and feel that momentum because I feel like you learn the best. So we will be taking applications for the coaches and we want to bring in the best coaches in the industry. We're already courting and talking to some really amazing people. Some of these people have built up and sold 2000 door+ companies some have coached and consulted multiple companies and helped them grow.

[00:08:01] And so, DoorGrow, we will be the world leaders in property management growth. That's our goal. I invest a lot myself in coaches and mentors-- over six figures a year-- just on my own masterminds and programs that I'm in so that I can learn so that I can give value to my clients, and we are adding all sorts of cool stuff and we're making changes rapidly in our business. We're really excited. So today's podcast is just all about you know, what's going on at DoorGrow, Built to Sell, Rapid Revamp, Scale Program Mastermind... This is the stuff that we're doing that's really, I think, gonna change the industry, and I really think this industry is in its infancy and has massive potential, and I am really optimistic about the future.

[00:08:48] A lot of people are talking about the real estate market crashing, and maybe there's gonna be a crash in all of this. It's inevitable, maybe, or maybe it's not... property management does great during crashes. Property management does great during recessions. There will probably be another pandemic. Like people are saying that that's coming, who knows if it's gonna be monkeypox or whatever. Property managers can handle this stuff. And I think property management's gonna become more and more relevant. It's gonna become more and more critical. And all of these things are gonna drive it. A lot of people that are self-managing were down 50% in rent during the pandemic, but property managers were down very little, like if at all. Smart ones that played their cards right and didn't like expect people to have issues paying and put out messages saying, "Hey, if you're gonna have problems paying..." didn't have problems with people paying in general property managers that made that mistake, maybe went down maybe five, 10%, 15% revenue.

[00:09:44] So I know some of you that made that mistake, right? You preemptively reached out to everybody and you're like, "Hey, if you're having a problem paying rent..." and then they're like, "You know what? I do have problems paying rent. Thank you for like, presenting that option to me." but property management like became more necessary because it became more of an emotional issue. I see that even if tough stuff comes at us in this industry, it's gonna grow. It's gonna get better. We've only been at maybe like 30% market share, right? Between self-managing and managing professionally, and so there's like 70% available room to grow, or at least double, right. If you get to the level of Australia, they're like at 80%, roughly. And we're at 30%, right? So we could double in size and still not be at Australia's level of market penetration in professional management versus self-management. So I think there's lots of opportunity.

[00:10:38] So let me tell you about the Rapid Revamp. Some of you are interested. You're like, "Jason, what do you guys do at DoorGrow how are you gonna help me? Like, what are you gonna do? Let me explain to you the first 90 days, this is week by week. I'm gonna take you through week by week. What we're going to do:

[00:10:51] Week zero: basically, if you come on board, we start these classes once a quarter. So our next class is in October. So get in now because we have limited spots that we're allowing into this class. We are only planning on allowing 30. Our first class though, we took our current clients through it. We have two-thirds of our clients that are in our mastermind go through it, so we have about 60 businesses going through it right now. That's a lot-- more than the class size that we want to have. We want to probably have a class size of maybe half that. So we're gonna probably be allowing about 10 a month into this class because we're building this up over the next quarter until October starts. We've already sold several into the program. They're getting free coaching leading up to it. So if you want to get in, get in now and you get some free coaching, some additional free coaching leading up to it starting in October, and then we're going to start every 90 days after that each quarter we have a class starting. So if you want to be part of this quarter, that's gonna be awesome.

[00:11:51] It's going to be leading into October. This is the winter months where business owners want to work on their businesses. You have some bandwidth. You have some downtime. Property management cools down. This is a great time to focus on making changes in your business, growing your business. And leveling up in your business. And so that zero, we call 'Prepare.' All the weeks start with a 'P.' So that zero week is Prepare, so that zero week probably could last a month or two, depending on when you join leading up to the beginning of the next class. So you're going to be starting on just getting some quick clarity, some quick wins. We'll be coaching you. You'll get a kickoff call, one on one with me. You can do some calls with some of my team members that can coach you on operational challenges, in acquisition challenges and getting doors, growth, so then we're gonna get into week one, and week one is amazing.

[00:12:39] Week one is Prioritize. In this training, we are cutting some companies' staffing costs in half. It doesn't matter how big or how small you are we are able to collapse your time in half. We're sharing with you the secrets, and this week is called Prioritize. It's all about time, and the biggest secret-- I'm just gonna tell you-- is about eliminating phone calls, and we're gonna teach you how to eliminate all the phone calls in your business except the ones you really want to have, which are from prospective clients. You don't need to be talking to anybody else, and so we're going to teach you the secrets of how to systematize your business to eliminate those phone calls, decrease staffing costs without hurting customer service levels, without getting bad reviews, without any of those challenges you think might happen, and so we're also going to get you started on a two-week time study, which is one of my greatest secrets and hacks in figuring out how do we build the business around your "plus signs," where you're going to identify those plus and minus signs, and we're going to start to reduce those interruptions and dramatically change your business.

[00:13:37] So week number two is Purpose. We're going to get into Purpose Secrets and figuring out your personal "why," your business "why," your client-centric mission statement of focusing on clients, and all these things that create culture that also allow you to close more deals, more easily, at a higher price point. So purpose is the most significant thing we've ever taught clients, like when clients-- when we asked them like, "What's the biggest benefit you got by working with DoorGrow? What was the best thing that you learned? They always say it was this stuff." and I know it sounds like fluffy, woo woo bullshit right on the surface, but thousand door companies-- people that have thousand door companies or greater-- they know how critical culture is, and we're going to help you lay the cultural foundation. You know you need this week if you've had bad hires, or you have team members that you feel like are not motivated, or you've been struggling to get people to like take action and do things on your team or business, or you're frustrated, or you're having difficulty closing deals, or you're losing business to other companies. Those are all culture problems. Those are culture problems. They're not sales problems. They're not like hiring problems necessarily. It comes before that. You have to have good culture. Culture dictates how you hire and who you hire and who you're able to attract. Culture dictates how you sell and it dictates your sales pitch and how you close deals.

[00:15:03] People don't close deals because you have better features or benefits or pricing. Those are the bad clients. People close with you and become clients with you-- the great clients-- because they trust you. Sales and deals happen at the speed of trust. And so this is how we create trust. It's how we build out our golden bridge sales script with you. It's how we get into four-phase selling. It's how we get into "the three dominoes." All of that stems from your purpose and getting this stuff really clearly defined. It's how you authentically create trust with clients is to let them know what really motivates you. And if you don't help them see that it's something besides just money. Their assumption will be that your goal is just to squeeze as much money out of them as unethically as possible. That's the default assumption when people are selling unless you counter that. And we're going teach how to do that in a powerful way. So that's Purpose.

[00:15:58] Week three, we're getting into Pricing. So this is where we're getting into unique pricing models and methods that are different than what everybody else does. Everybody else does a flat fee or they do a percentage, and so we're getting into the science psychology of pricing strategy and helping you develop three-tier hybrid pricing models and teaching you then how to leverage that to be able to close more deals, more easily, at a higher price point than your competition and how to create incentive structure so that you're getting on more of the higher end properties and the higher rent properties and decentivizing the cheap owners that are difficult to deal with. And so that is a game changer week, and in a single week, you're going to have new pricing because we give you hybrid pricing spreadsheets, we give you different sheets to map stuff out, we give you all the stuff so that you can figure this out.

[00:16:52] Then week four, we get into Positioning. This is all about branding. We are the world's leading property management branding agency. We've rebranded hundreds of companies. Some of the best brands that exist out there in the property management space, we had a hand in coaching them, supporting them, or helping them come up with those names. We do logo design, we help with business cards, print collateral, all of that kind of stuff. So we're gonna help you, and you'll go through our training material, and you'll learn about branding.

[00:17:18] The next week after that is Product. So we are then getting into our first acquisition strategy. We call this the "Trojan horse to selling" or the "side door to closing deals," and we're teaching you a secret strategy on how you can get investors to become clients, doing a thing called product research interviews. And so it's really brilliant. We had a client that just showed up the week after that call, and he said, "I did one of those interviews, and I closed 10 doors on doing one interview," and this is the, like, it's super easy to close deals because the secret is: most investors are not looking for you and they don't think they need you. They're not looking online. That's why Google ads, SEO, these kind of things really are probably a waste of money in a lot of situations for most businesses, so we're teaching you how at no cost, you can go and acquire business more easily. The next week, after product-- and product is a great week. If you are under a hundred doors, you're in that startup stage. This is going to help you learn the secrets that you need to know to have the knowledge to close deals the way a 10-year-old company would know. They know all the problems, they know all the pains. You're gonna learn all of this by using that strategy, and we give you scripts like how to do it, everything. We train you.

[00:18:34] Week six: we're teaching you how to sell because you need to know how to pitch. If you get opportunities with investors to sell, we're gonna teach you how to sell the Pitch week is all about our four-phase selling strategy in which we go through the four phases that make any sales pitch amazing no matter what you're selling. We're going to get into how phase two of this four-phase selling, we're going to teach you the golden bridge script and the golden bridge formula, which is stacked on Purpose week that we went through and we're gonna get into the ultimate pitch, how to build the ultimate pitch based on the Three Dominoes that you need to knock over and how to handle all of their objections during your sales pitch very effectively so that by the end of these three dominoes being knocked down, the only logical conclusion they have is to work with you, with your company, because nothing else would be better or more effective. And so this is really effective for increasing your close rate and helping you sell more.

[00:19:33] After we get through that, then we get into Partners. So week seven, we're getting into Partners and this is how to now, stacking on the previous acquisition strategy of Product, we're now getting into: how do you get more connections through potential partners that can connect you and introduce you to investors so that you can get warm leads and more referrals. One of our clients using this strategy added 310 doors over the last year from just five or six agents and they were able to do this because they implemented this strategy. Now, most referral relationships will give you maybe a referral once or twice maybe a month. Like, and it doesn't work super effectively because they're waiting for people to come to them saying they want property management, which almost never happens, so our strategy is way more effective than that. So we're teaching how to build this outbound partner relationship system in which you are able to grow your business dramatically faster through warm leads and dramatically increased referrals. We're also getting into another strategy called the neighbor strategy, which is also super effective in getting other property management companies to send you business. Really effective. We've got clients just adding sometimes five, 10 doors a month just by getting referrals from property management companies that are in their market sometimes or outside their market. So we'll get in that.

[00:21:00] Week eight: we're getting into Power. We are going to be creating confidence, making sure you have a healthy mindset, making sure that you have the right appearance. You'd be surprised, but we get a lot of clients that struggle with this stuff. They're not confident in their pitch. They say, "um" and "and" too much. They're not polished. They don't smell confident, they don't sound confident, they don't look confident, and that destroys trust. And so even if they're a great property manager, they're artificially destroying trust and killing deals and not getting on business. So we get into that.

[00:21:31] And then week nine: we're getting into Presence. So this is the online presence, website, and making sure that your website content is dialed in so that our team can start building you a really effective website with your new pricing, with your new branding, with your new pitch, with all your new stuff, we're going now help you build out the website. I don't think anybody does this better than us. Our biggest competitors, even if they do more sites than us, they're still copying us and trying to do what we do. Our clients' close rates and their websites are a lot more effective. And you can test your website right now if you want to see if this is a leak by going to doorgrow.com/quiz. That's doorgrow.com/quiz. And test your website and see what kind of grade you get. My guess is you're getting, at very most, maybe a, B, maybe a C. Maybe you're getting a D or an F. We see a lot of Fs come through from some of our competitors.

[00:22:24] Then after website, we're getting into week 10, we're getting into Perception. So this is all about online reviews, how to create a system of warm outreach that allows you to get consistently the majority of your tenants and owners to give you positive reviews and feedback online, leveraging the law of reciprocity. So we give you these scripts. We give you the language. And if you build this system out in your business, you will never have a bad-reviewed company. You'll have great reviews online and you'll be outpacing all of your competition because they mistakenly think that reviews happen by default or if you just ask for reviews, you'll get them. And that doesn't work very well. And you know it! Like you've struggled to get reviews I'm sure. So we're gonna teach you the secret systems in Reputation Secrets, how you're going to crush it and get consistently good reviews. And this has helped some of our clients, this strategy alone has helped some of our clients add a hundred to 200 doors in a year, just this strategy. And it's warm leads. Close rate's easy, it's a high, high close rate. And most property management companies suck and most get bad reviews. You're not going to suck and you're not going to get bad reviews working with us.

[00:23:28] The next week, we're getting into week 11, we're getting into Prospecting. We're going to teach you how to leverage groups because you're going to have some group opportunities come up by doing the Partners and by doing the Product week challenges that we're gonna give you. You're going to have some opportunities come up to pitch to a group, and most people will go do some sort of group presentation to a bunch of realtors, or they'll do a group presentation to a bunch of investors and they walk away with very few deals. We're gonna teach you how to walk away with a lot of relationships and a lot of deals and actual appointments from that event. And so we're going to teach you strategies to do that. And that strategy alone has helped some-- one of my clients went from being at 50, 60 doors to 300 doors in just six months, right. Just using this strategy alone can be super effective, so we're going to stack that strategy on Prospecting, which is groups.

[00:24:25] And then week 12, we're getting into Planning, so then we're going to take a look at: what's the six month roadmap moving forward? You're at the end of this program, like what's coming next? What do you need next? We're gonna help you get super strong clarity, show you the roadmap of what comes next, which is the next six month program, which is Scale as part of this mastermind, and we're gonna show you what we're gonna do next to get you to that next level. This is building out all the systems that you need to have in your business, hiring system, planning systems, et cetera. So we're going to roadmap and do planning.

[00:24:56] And then, week 13 is all about Progress, so we're going to be sharing wins. Everybody's gonna be celebrating, and week 15, which really is starting into the next cycle-- that's where we're doing our next in-person event. So that's where you graduate and that's where we're going to celebrate. You're going to be hanging out with your class, with your buddies, with the people in your tribe, you're going to get your diploma. This is graduation, and you'll get to see the newbies that are coming through the next class. And share your stories with them. It's going to be awesome. So, and in October, our kickoff for the class-- those that joined the October class-- in October 18th and 19th, I believe it is, we are doing our event in Vegas at the signature hotel at the MGM grand. It's going to be awesome. So you will get to see the clients that are going through our Rapid Revamp right now that are going to be graduating and hear from them, and you'll get to be around people that are crushing it, adding doors, you will know you're at the right place, and it's going to be super awesome. And you're gonna be connected to other people that are playing a similar game and investing in themselves. These are rare people. These are business owners and property management business owners and property management business owners that invest in themselves. You're going to get to hang around with some of the coolest people I think that exist in the industry. These are people that are contribution focused. These are people that are game changers. These are people that are making a difference. Some of these people have thousands of doors. Some of them are startups, but they're all growing and they're growing rapidly and they're focused on investing in themselves and growing.

[00:26:26] So that is a quick overview of the rapid revamp program. And if you're curious, "Jason, what does this cost?" Our program is way less than buying into a franchise. It's way less than making a bad hire or spending money on a team member. It's way less than all those things. So it's 10 grand for the program, which is less than you would spend on a year with a marketing firm or some other firm, and you get way less doors and way less results, so this is an absolute no-brainer, and you can break it up into payments and stuff like that if you need to. But anyway, that's it. So that's our Rapid Revamp is the first 90 days, first three months in our Built to Sell program, and then you're going to move into our six-month Scale program and then you'll move into our continuity, our annual program that renews yearly, and that's your next level then. It's going to be awesome. So, reach out to our team, check us out at doorgrow.com. And we would love to set up a call with you and see if you'd be a good fit, see if you are a candidate, somebody that we can work with over the next three to five years to help you have either a seven-figure exit, or just a seven-figure business that you don't want to exit, which is the goal. My hope is that you'll want to keep it because it's the main vehicle for fulfillment and freedom in your life, and you love getting to do what you get to do. So with that, I'm out. Until next time, to our mutual growth. Bye everyone.

[00:27:49] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!

[00:28:16] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.

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DGS 184: Real Estate with Intelligence: The Secret to Chambers Theory’s Success in Property Management with Tommy Chambers 0

Aug 23, 2022

At DoorGrow, we aim to expand the property management industry and help the best property management entrepreneurs win. We love gathering new strategies and ideas to help savvy property managers grow their businesses.

In this episode, property management growth expert Jason Hull interviews Tommy Chambers from Chambers Theory about the secret to his success.

You’ll Learn…

[02:08] The Secret Power of Trust Equity for Improving Churn Rate

[08:59] Keeping on Clients… Even When they Don’t Really Need You Anymore

[15:09] Benefitting Homeowners and Investors with Ongoing Management

[21:02] Why Recognizing Your Team Matters

[26:07] Systems Every Business Should Have

[31:23] The Importance of Establishing Company Culture

Tweetables

“It's not just about growth. It's also about keeping the ones you have and the clients you have satisfied. So our strategy has been to take care of our people.”

“If your churn rate is high, that means you then have to replace all the doors you are losing every single month. If you're replacing every door that you're losing constantly, then you have stagnation.”

“It's far easier to keep a client than to go acquire new ones... and far cheaper.”

“Hiring is hard. One of the hardest transitions I see entrepreneurs go through is solopreneur to having a team.”

Resources

DoorGrow and Scale Mastermind

TalkRoute Referral Link

Transcript

[00:00:00] Tommy: We said, "Hey, your services don't have to stop when you come back to live in your own home. We can still be your property manager even if we're not collecting rent.

[00:00:08] Jason: All right. 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.

[00:00:46] 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 the 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. Now let's get into the show.

[00:01:11] Welcome to the #DoorGrowShow.

[00:01:13] Tommy: Yeah, thanks for having me. It's a pleasure to be on.

[00:01:15] Jason: Yeah. Glad to have you. So you've been doing property management for how long?

[00:01:20] Tommy: 21 years now.

[00:01:22] Jason: And how long ago did you start your business?

[00:01:25] Tommy: We started Chambers Theory in 2018. This was on the heels of my former company selling to a bigger broker and saw the opportunity to start fresh and bring my theory to the market of what property management should and could look like.

[00:01:42] Jason: Cool. Well, welcome to the show. So you guys reached out and wanted to be on the show, I guess you had been listening to the podcast for a while. We've never worked together, right?

[00:01:52] Tommy: Not yet.

[00:01:52] Jason: Not yet. Not yet. Right. So cool. Well, I'd love to hear how many doors do you guys have right now.

[00:01:58] Tommy: 717.

[00:02:01] Jason: All right. That's a nice number since 2018. So what's your biggest strategy to add doors? How have you grown the business so far?

[00:02:08] Tommy: You know, there's a lot of different ways we've approached that. There's a growth strategy just from organic growth. All of those doors have been organic growth. Of course, we look at acquisitions as well. And then, there's also the client retention. It's not just about growth. It's also about keeping the ones you have and the clients you have satisfied. So our strategy has been to take care of our people, use and try new tech, be early adapters with some new tech, and when we take care of our people and lean into some cool new products and leading-edge technology, the word gets out and when we're effective and take care of our people, people like to follow that. Clients like to follow companies where they have consistency of people they're dealing with and especially if they're happy with their jobs, it really works out well.

[00:02:55] Jason: I love what you said. One of the big things that a lot of businesses fail to look at is churn, you know, and retention. And your churn ratio or churn rate is basically the number of clients you had at the beginning of the month. And then, you divide that by the number of clients you have at the end of the month, basically is how you calculate churn. And so if your churn rate is high, that means you then have to replace all the doors you are losing every single month, if you're replacing every door that you're losing constantly, then you have stagnation, and a lot of business owners try to increase growth, increase lead then, and they don't focus on churn at all or retention at all. And they wonder why they're not making any progress. And it's kind of like trying to run uphill while somebody's pulling you backwards. So what are some things you've done to kind of decrease the churn rate and prevent clients from leaving? And one of the clients that tends to leave the most are accidental investors. Do you avoid those or are you good at convincing them to stay longer?

[00:03:56] Tommy: I love the analogy too. We actually use the analogy of pushing a rope uphill is when you have a high churn rate. Just doesn't make a lot of sense in that it takes a lot of energy to both reintroduce a new client to what your program's like and set expectations and agreements on that, but also to find them, so keeping the ones we have and keeping the ones we have happy is critical for us. And we actually have a high churn, natural high churn type of client base. A lot of our clients are military and US foreign service, which means typically we know when they sign on with us, they're gonna be back to their house in three years, which makes a really interesting... Mm, I'll call it calling or genre of residential property management. When you know your client's gonna be back in three years. You know, you have to plan for that replacement, and you also have this higher calling of care where: geez, this is not just somebody's investment property. This is their home they're going to come back to and the judgment is often a lot more meticulous when they come back and say, "How did you do taking care of my house?" not just, "How much rent did you earn me?"

[00:05:08] So some of the things we do are really to increase the level of care and communication the client feels during the period of time that we know we have them, and we call it building or losing trust equity in every interaction. So the way we describe trust equity is like having gas in your tank and you're going on a trip. You're only gonna go as far as you keep fueling up that gas in that tank. And for us, that gas in that tank with that client is trust equity. So in every interaction, we either see ourselves as building rapport, building trust equity or losing it, or losing the opportunity to build it. So a lot of our practices are focused on: how do we build up trust equity all the way through their journey and make it the full three years? And the positive side of the community that we're working with is: even though there's a high natural churn, there's also a high referral rate from one landlord client to another to utilize our services if we've done a good job for them.

[00:06:11] Jason: Yeah. I like that. Yeah. You know, refueling the tank or recharging the cell phone or, you know, anything. Like nothing just continually runs forever. Right? And I love the idea of trust equity. I've said many times on the show like I really believe sales and deals happen at the speed of trust.

[00:06:29] Tommy: Hmm.

[00:06:30] Jason: And, you know, retaining clients also happens related to trust. Like you're gonna keep clients if they trust you, and that trust is everything that you do in your business, everything that your business puts out there is either creating trust or taking it away to some degree with your clients. And so, one of the main things we focus on at DoorGrow with clients is taking all the major leaks that exist in their sales pipeline related to trust and helping short those leaks and that's always the language we've used around that is to try to make sure they're reducing the leaks. And there's lots of things in the sales pipeline that can destroy trust. It could be the brand. It could be maybe they're not destroying, but they're leaks in trust. Like they might trust a property management company over a real estate company when it comes to branding more.

[00:07:21] And so that could be a leak just at the branding stage there's leaks when it comes to your sales process, there's leaks when it comes to your website, there's leaks when it comes to your pricing, and all of these different things that exist throughout their experience in the sales pipeline can either add value and add trust and build it, or it can take it away. And this is why when we talk about cold leads versus warm leads, or going from a cold interaction or lead to close, the difference between cold and warm is trust, right? We're trying to nurture them through this sales process and through follow-up. And eventually, they get warm enough, they trust enough that we can close the deal, right? And then the trust cycle continues. You have to then onboard them effectively. You have to then make them feel safe because everybody has buyer's remorse after they purchase something. There's an initial dopamine high. When we make a purchase. And after that purchase, after we spend money, there is natural lull. Like it comes back down and that's where people kind of freak out and they look for the problem, and if they see one they're like, "Oh crap, did I make the wrong choice?" So making sure there's this smooth experience through the sales pipeline and then bridging over into onboarding and into their client experience.

[00:08:39] And if you onboard them well, and they have a good experience, you're gonna have a much higher retention rate. So now you've got people that are leaving most likely after about three years. So you've got like this three-year cycle. How do you deal with that? Because every three years you help that churn rate and that's better than some that are taking on accidental investors that are only gonna hang out for a year.

[00:08:59] Tommy: Yeah. So one of the ways we deal with it is-- which I think is unique, is we said, "Hey, your services don't have to stop when you come back to live in your own home. We can still be your property manager even if we're not collecting rent. Often, we were getting calls from clients that came back anyway saying, "Hey, you know, I was your client last year or two years ago. I need a recommendation on an HVAC company," or, "I need a recommendation on a plumber for Thanksgiving before my family comes to visit," or whatever it is. And it was like, well, oftentimes we were getting these calls back from clients anyway, saying, "I just need a contract recommendation," or "I'm going to be away from my house for three weeks on vacation. Can you just check on it once for me if there's a storm?"

[00:09:46] And what we decided to do is instead of treating it like a clumsy process to make it a formal process and organize that thing that was happening anyway, and we said, "Hey, when you come back, you don't have to close out your account. And you can continue to use us for anything related to your house and you can run your expenses through your escrow operating account in property management, and we'd be happy to be part of that for you and give you contractors when you need them." And we made the expense for that minimal, and it's not a profitable activity, yet it kept the connection and it also told these clients, "Hey, you know, we can trust this company even when they're not really making money from us, right, they're truly in it to serve us."

[00:10:32] And what happened is when they got their next assignment, whether they're military or foreign service, but they already had their account open with us, they didn't have to decide, "Oh, who do I want to interview?" Or "Who do I wanna start with this time in property management?" we made it easy for them to just keep going with us and recommend other people to start with us. So that's one of our nuances and I welcome other property managers to do it too. You don't stop serving them when they stop becoming a client, especially if they could become a client again or refer somebody else, you know, continue to offer them some kind of value even after you think that they're done.

[00:11:07] Jason: Yeah. That's fascinating. That makes a lot of sense in a military market. Yeah. That makes a lot of sense. Do you find that it is more of a loss leader or are you doing this at cost at least?

[00:11:18] Tommy: So I guess you could call it a loss leader if you tried to start a business that way. I mean, once you have a certain scale... our scale of our business, right, is we keep close track of how many property management hours per property we're spending throughout the year, and, you know, we have it down to a science exactly. You know, how many doors to our staff, not just per property management lead, but overall support staff. How many hours are dedicated to these properties? And what we find was keeping these accounts on wasn't costing us a lot of time, but it was giving us a really good return on trust equity. So we were building more trust equity when the client closed out their account, their normal rent collection account, and kept going with us from what we call a heat account or a home escrow account and the home escrow account, you know, we're charging $360 a year, a dollar a day, less than that, really. And oftentimes it was not profitable for us in terms of the hours we spent, but we'd spend, you know, five or six hours a year on those accounts, making recommendations, handling their expenses through their property account. So it wasn't like a money maker, but it really had a return in terms of these clients came back to us and they recommended other people to us because we were building trust in the process, not just cash.

[00:12:45] Jason: So this three-year cycle that you mentioned where they will go off for maybe about three years, and then they want to move back into the property. Do you know how long they're typically staying before they go off again?

[00:12:57] Tommy: Yeah. I mean, it depends on which government agency or department they work for. There's different requirements for each, which we've come to learn quite well. Sometimes they'll come back for, you know, let's say they work for the U.S. state department. They'll come back for one-year language training. So they're, you know, they're coming back from Bangkok and they're gonna be transferred to Nairobi, Kenya 12 months from now. So they know they're coming back just to learn the language of the next place they're going and all the more reason to just keep their account active, right?

[00:13:31] Jason: Yeah.

[00:13:31] Tommy: Often--

[00:13:32] Jason: So they're only back for a year and then they're probably out for maybe another three years?

[00:13:37] Tommy: Exactly. Yeah. So, you know, it tends to be a one or two-year return depending on the nature of their return assignment, domestic assignment. And then, another three years out tends to be.

[00:13:49] Jason: Wow. Okay. So, I mean, so the ratio skewed so that they're gone more than they're back. So by maintaining that relationship, you have built-in future clients.

[00:14:00] Tommy: Nailed it, yeah. Oh, and that maintaining the relationship is where the secret is, as we said. Not doing that turns growth into pushing a rope uphill. If you maintain that relationship, it makes it really easy for that business relationship to continue and that trust equity to grow.

[00:14:18] Jason: Yeah, it's far easier to keep a client than to go acquire new ones... and far cheaper. And it takes a lot less work and if they have a good experience with you, they already know you, trust you, like you, so like it's super easy. Next time they need it, they're gonna go with you as long as they had a good experience, and if that relationship has been maintained, they're still a client. Yeah, no-brainer. It's like, "Hey, we're going out again." "Cool." So pre-framing that from the beginning when you onboard a new client and letting them know, "Look, you're probably gonna go in some cycles. We're used to this. This is how we handle it. This is what we do," they'll just plan on staying with you forever.

[00:14:54] Tommy: Yeah, I'll tell you at first, it's an awkward value proposition, right? It's like, "Well, I'm back. Why do I need to keep a property manager?" And the answer is: you don't. You don't need to. You don't need us nearly as much as you did when you were on the other side of the world and we had a tenant.

[00:15:09] Jason: Yeah.

[00:15:09] Tommy: However, this is why every connection and communication is an opportunity to build trust is when they start to see, "Oh, I'd much rather call my property manager and have them deal with the contractor," or "call my property manager, see if they can check on this after a storm," or, "call my property manager..." whatever it is. The more that they see there's value in the process in the chain, then the more likely they are to say, "Wow, I actually wanted this. I didn't realize you guys even offer when I came back, I could just keep using you at a lower price." So, it's awkward at first because you're used to saying, "Well, these are the reasons we are worth property management: rent collection, and dealing with tenants," and you just have to change that and recognize that actually, we're valuable for a lot of things that the clients trust us on and including, you know, managing, making it easy for them to manage their home escrow account or their expenses related to their property, or we make it a lot easier for them to not call some contractor out of the yellow pages or Google somebody and get lucky. They already know that we have a tried and true stable of contractors.

[00:16:17] Jason: Yeah. Yeah. It's frustrating trying to find contractors and having to do the research, so I think that's a great selling proposition and property managers don't like giving out their vendors generally. So if they're a client and you're like, "Hey, let us handle this." If they come back to you... so what do you do in the situations where they're like, "Nope, I don't need you. And I don't want to do this. We're back. I got it handled. But then they call you up and they're like, "Hey who you got for me? You got a contractor that could do this or this?" Do you say, "Well, we have this great program," and you try and get them on the program?

[00:16:50] Tommy: Yeah. We try to reintroduce them to the program, and the reason why is because when you're out of the system, everything it's that much harder to translate the information to what needs to happen, right? Like, okay, you have something that needs to be done, but we don't have all the information in our system and as close anymore, and also our contractors, they like to know that if they bill a property manager, they're gonna get paid in two weeks. We build trust equity with the vendors too, not just the clients. So these contractors would rather get a call from us and say, "Okay, yeah, I'll be happy to do that job tomorrow or Monday, whatever it is because I know you're gonna pay me in two weeks when I send you the invoice," versus, "Oh, I've gotta deal with some homeowner that's calling me. Maybe it's good. Maybe it's not. I don't know if they're gonna pay me on time or if I am going to have to do an accounts receivable issue."

[00:17:43] It's just all smoother through our network when we have the account open. So yes when they call us back, we say, "Hey, of course we can give you the contractor's name and number, happy to do that. We're not gonna block you from that. However, the contractor's gonna prefer to hear from us anyway. So, you know, we're happy to set your account back up." we really put their account on pause if we think they're gonna be going back overseas in a couple of years, but yeah. I mean, we do reintroduce the concept, even if they closed out thinking they didn't need it.

[00:18:13] Jason: Hmm. Got it. So I'm trying to figure out how could this apply to non-military markets if at all possible. So I'm just spitballing here, but I'm wondering if property managers could present this as an actual product or service to just typical homeowners, like, "Hey, we'll handle the vendors, we'll handle maintenance, whatever," and they charge them for that, but they just, they charge some sort of fee and, "We'll take care of all this stuff and handle vendors, and we have the best contractors and we're organized and sort this out. I don't know if people would go for it, but...

[00:18:43] Tommy: Actually, I think it's a growing market and it is happening. A good friend of mine, Lisa Wise, who owns Flock DC, she's trying to build almost a franchise concept, but a series of this very thing where all they do is home management for primary homeowners. She's pursuing this market in high urban markets with really busy professionals who just don't know how or don't want to take the time to take care of their own house. And she's got a great program set up for that. Again, we're not doing it on the scale she's pursuing it. We're offering the service as. Let's build the relationship with the client that we have for rental management before they need us.

[00:19:24] Jason: Sure. Yeah, that makes a lot of sense. But yeah, I think there's an opportunity there for the people in the non-military markets to make that maybe a profit center or something. You cut out the whole tenant side of things, but there's the whole maintenance coordination piece and home management piece, lawn care, grounds, pools.

[00:19:44] Tommy: I'll tell you, I actually think investors would love this, and it might be something we pursue more as we work with investors that'll appreciate this that is to be able to do not just, oh, any expenses related to your personal residents, but to do an analysis like, "Hey, typically for a house your size you're spending two X the amount of water on your water bill that you should be. When you can start to do some financial analysis within their expenses, instead of just saying, "Oh yeah, like you can pass through your expenses through your account. So it's all in one place," but to add value by saying, "This is out of our standard deviation for this expense," or-- and again, you can always add value by saying, "You can call five contractors if you want, but we're buying in bulk as a property manager and we can get you either better pricing or better value of service."

[00:20:33] Jason: Yeah, very cool. So what else would you like to share with people about your business that might be beneficial to property managers listening? You've grown fairly quickly. I think you have the advantage that you're in that military market where you've got people leaving, which is great as long as they have awareness, you're going to be adding doors, which I think is really powerful. You focus on trust equity, which I really like that phrase, and what else do you think really kind of sets you apart, makes your company unique from the competitors in your market?

[00:21:02] Tommy: Yeah, thanks for the question. That trust equity is a strong theme at our company. And what I do is, it's not just with the contractors or with the clients, we're also building trust with one another on the team, and we call it the Camelot principle. So yeah, after you've done battle enough on our team as a property manager, you've been through a couple of tough summers. Summers tend to be the hardest time of the year in our market. Then we award that person with a sword, a sword with etching on it for chambers theory, and we welcome them as a knight of the round table. And what we really want to do is we want to build this interdependence of trust with one another as a team, and part of my promise as the employer and the business owner is to keep the job manageable for them, right?

[00:21:53] Like most of the time as the entrepreneur, like we're trying to get the most out of our teams so we can get more profits and grow and it's healthier. And sometimes it's great. Some of us are, "Hey, we'll pay our people more," which is a wonderful way to look at it, yet sometimes people want their job to be more manageable. Like we can call them to a higher standard, yet we also shouldn't overwhelm or burn out our employees, and it was really telling when we saw right after it was the end of 2020-2021 market, they call it the great resignation. There's a lot of people saying, "Hey I'm done working," seems a lot of it had to do with burnout. People are like, "Life's short, why am I burning myself out for this or for that?" And to really lean in on how do we build trust with one another?

[00:22:37] How do I serve my team by making them part of that round table of strategic decision making, making them part of that process where we say, "Hey, we're serving one another as a team, and then we serve our clients and we build trust with our clients and our contractors after we build it with one another. I have a high respect for these different elite teams in the world, in any industry. I love the new movie Top Gun Maverick. They take the top 1% of 1% of pilots in the Navy and they build this elite team, and yet still the part of the theme of the movie was: how do you take these elite individuals and turn them into a gelled team to accomplish a mission? And that's part of what we're trying to do is it's about believing in one another to accomplish the mission, not just going for the mission at all costs and burning each other out.

[00:23:30] Jason: Yeah, there's a lot of truth to that. I think one of the big mistakes I've seen, having been able to see inside of probably thousands of property management companies and work with lots and lots of entrepreneurs is I think it's a common misconception and a common belief that entrepreneurs carry that their team members want more compensation and that compensation will increase output. And the reason for this is entrepreneurs, we're money motivated, but most people are not. Entrepreneurs and salespeople typically are the two categories of people that are money motivated. But what I find is most of our employees, most of our team members, most of the people on the planet are not actually money motivated in that if you give them bonuses, commissions, incentives, financial incentive, performance doesn't really get better.

[00:24:24] And you can see this if you give team members a disc assessment. The more advanced disc assessments have what's called values index. And one of those values is the economic score. If the economic score is low, they're not money motivated. And if the economic score's high they're very money motivated, but entrepreneurs usually are money motivated, so they by default think, 'That's what would motivate me, so I'm gonna try and inspire them by offering money to get better output, and it backfires because if they're economic score is low and say, for example, their charitable scores high. Some of them have guilt related to money. So you pay them more, the performance actually goes downhill and they get worse. And so if their economic score's low, here's what you do instead, you give them recognition, they're recognition motivated. So I love the idea that you're giving 'em a full sword. You're probably like in front of the team. Recognition, generally, even the people that are money motivated is appreciated, so.

[00:25:28] Tommy: Yeah. I learned that one the hard way, just hearing you talk about it. I was like, oh yeah. I took me right through the past scenario where it's like, "Why am I not getting more? I'm paying this person more," and what they really needed was to be taken and given the opportunity to be believed in more. And actually, they wanted more responsibility, not more compensation. They wanted to show that they're capable of more things, and then the compensation piece made more sense, but they almost really felt like they needed to earn it first, which is beautiful, but I tried to do it the other way around and it didn't work so well.

[00:25:59] Jason: Yeah. Yeah. I think it's a lesson everybody that runs a company eventually has to learn. And some of us are pretty hard at learning it, but I think another thing having a system in place allows recognition. So our planning cadence at DoorGrow, we call it DoorGrow OS, our operating system and it allows our executive team members to see what each other got done in the previous week or for our monthly goals or for our quarterly goals, and everybody gets to see the wins and gets to see that somebody contributed to the team goals. And a lot of businesses don't even have goals or it's the business owners pushing a goal onto everybody, which is very different. So having a really good operating system like that can really make a difference.

[00:26:46] Tommy: So I really like that system. I wanna talk to you more about that offline.

[00:26:50] Jason: Yeah. We'll chat with that. There's systems out there like EOS and Traction, and some of these, but really shameless plug, DoorGrow OS is better than those systems. Those have some fundamental flaws because they're still either entrepreneur centric and that's not as effective, like any business owner that's ever gotten burnt out or tired it's because you're doing too much and you're probably the biggest bottleneck in your business, and it's because you don't have a good operating system to really leverage your team effectively. And most entrepreneurs, we generally are the biggest bottleneck in our business. That's how it works.

[00:27:25] Tommy: What's interesting is I was gonna add, you said, what else would I offer property manager and other property managers out there from what I've learned and embracing technology. I can tell you, I researched the heck out of all my competition. I researched the heck out of property managers all over the United States, and I love learning about what are their best practices. What are they doing? How's their model set up? How do they value their company? Are they doing this new client retention thing? I love all the best practices and learning from it, but I almost always see, "Oh, we utilize technology," and I'm so curious. And then sometimes when I dig deeper, it's: "We send our clients digital pictures," like digital pictures isn't new technology. That was new technology 15, 20 years ago, or, "Our accounting platform says they're the latest in technology," and there's a lot of different platforms out there. And man, when some of these things came out, they were great platforms for being the latest and greatest at being more efficient in organizing your business.

[00:28:22] To say we utilize technology because you have email or mobile phone, smartphone, or a platform that came out 10 years ago. It's got some updates since... no like I'm interested in the DoorGrow operating system because you guys are leading edge in how to use that to make my business more efficient and grow not because it was something you came up with 10 years ago and you've made a couple of updates since. I'm fascinated by being an early adapter and new tech, not claiming I've got tech because I use email.

[00:28:54] Jason: Yeah, there are. There's a lot of property managers that feel like, "Hey, I used to doing spreadsheets and now I have AppFolio or Buildium, so like we're high tech, so.

[00:29:02] Tommy: Right. "I got a website!"

[00:29:04] Jason: Yeah. They got a website now. Yeah. Yeah. So I'm probably more tech-savvy and geeky than most people on the planet, but yeah we're doing some really cool things at DoorGrow that we really feel like add some serious value to the industry. I think two of the most challenging systems for our clients, once we get them growing that they need that we've built out is a really good planning system. Have project management or task management system, sort of system to assign tasks, but that's tactical work. They don't have anything related to strategic planning, and some have EOS, but there's some fundamental flaws with EOS, but the company that puts out the idea of EOS, the entrepreneur operating system, their goal is to sell coaches for that system, which they call integrators.

[00:29:52] And so they create this org chart in which you have the visionary, which is you usually, the entrepreneur, and then they have the integrator, and then they have the entire team. A fundamental flaw in that is if you have somebody that could run your entire business like that, and you're once removed from it. They could walk away with your business and that's not really a safe place to be, and that's not really how anybody actually does it. So you need a planning system though, and EOS DoorGrow OS, most systems out there will have annual planning, quarterly planning, monthly planning, maybe weekly, maybe some sort of daily things, but that's pretty typical of any business planning system, but you do need a business planning system.

[00:30:30] The other system that every business needs is a really good hiring system. So we just partnered with an AI firm for hiring because our clients always screw this up. Like it's hard. Hiring is hard. One of the hardest transitions I see entrepreneurs go through is solopreneur to having a team. And this is the transition from maybe about a hundred doors into that two to 400 door range, and usually they build the wrong team around the business owner, doing the wrong things, to where the business owner gets maximum lack of fulfillment and misery and being the biggest bottleneck and so really our entire system is built around the entrepreneur, like identifying what they most enjoy and don't enjoy doing, building the team around them and then build a hiring system to bring in the right team members that you actually can trust. Trust equity can only exist if there's culture in a business. And culture can only exist if it's defined so that you can bring in people that can look at that cultural material and say, "Hell yes, I want to be part of this where some people might just want a paycheck and there's a massive difference in output.

[00:31:41] Your team members, it sounds like you have good culture, and so you're probably getting three times the output of companies that have bad culture, and by bad culture I mean they hire team members just based on what the business needs. It's based on skill. And so they have people that are maybe a skill fit. They can do the work, but they're not the personality fit for the role, which means they'll never be great at it or they're not-- the most important-- cultural fit for the role, which means they actually share your values and you can trust them and let go of pieces of the business. So if you have team members you trust, but they can do the job, but they're always coming to you asking questions, you're always having to micromanage them, it's because you lack culture in your business. And you need to get that defined...

[00:32:21] Tommy: I hope-- you can't just have it. It's a continual build. It's just like trust equity like it's a continual... continue to work on, continue to define, continue to build. I would define our culture as that Camelot culture, Camelot principle, which is the heart of it is the saying "In service to one another, there is freedom."

[00:32:40] Jason: Love it. So yeah, service is one of your top cultural values. I love that. We have one at DoorGrow. Ours is called Care ROI, like care, and similar to your trust equity, like we wanna let people know that we care and if we invest care into people, then you know, we're gonna get a return on that investment. Tommy, it's been great connecting with you and chatting. It sounds like you found some cool little ways to facilitate and decrease churn. Appreciate you coming on the show and looking forward to connecting more in the future.

[00:33:11] Tommy: Yeah. Jason, looking forward to also following up with you and chatting, talking more about how you can help us grow.

[00:33:18] Jason: Absolutely. All right.

[00:33:19] Tommy: Cheers.

[00:33:20] Jason: Until next time, everybody, if you're curious about how to grow or scale your property management business, you're curious about DoorGrow OS or some things we mentioned on this show or how to identify culture, or you're just starting to experience that burnout as a visionary, and you don't feel like the visionary anymore. You feel like your best employee, which sucks. We would love to help you get out of that. We have processes to take you through to systematically help you offload, help you feel safe offloading, and helping you have great people to offload to that are actually better at those things you don't enjoy. And you, and a lot of entrepreneurs listening, if you haven't experienced that, you're like, "No, nobody's better than me." Believe me, it's an ego thing. We can kill that real fast. So reach out. We'd love to support you. Check us out at DoorGrow.com. Until next time, to our mutual growth. Bye, everyone.

[00:34:10] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!

[00:34:37] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.

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DGS 183: How To Add Doors Using The Neighbor Strategy For Property Managers 0

Aug 16, 2022

As entrepreneurs, we tend to isolate ourselves from other business owners. This lack of connection can prevent you from adding as many doors as you could be.

Join property management growth expert, Jason Hull as he shares one of DoorGrow’s best strategies for adding doors: the Neighbor Strategy. This strategy will help you form mutually beneficial relationships and alliances with neighboring property management companies that feed you doors.

You’ll Learn…

[01:44] The Issues that Come With Being an Entrepreneur

[04:29] Someone’s Garbage is Your Golden Prospect

[05:50] Finding Two Kinds of Property Management Partners

[08:47] The 3 Steps for Turning a COLD Lead into a WARM Lead

[14:12] Why a Rising Tide Raises All Ships

[16:47] Growing Your Business Without Internet Marketing

Tweetables

“The problem that exists with entrepreneurs is that we are not focused a lot of times on connecting with other entrepreneurs, so a lot of times what we experience as entrepreneurs in our journey is some sort of isolation.”

“I think entrepreneurs, after we taste freedom, we become unemployable. We're just not gonna be great employees because we want to control our destiny and once we have freedom and once we have fulfillment, we then want to contribute.”

“So by giving out some referrals, you're creating a partnership, you're creating people that are going to probably feel obligated to reciprocate and send similar referrals back to you.”

“You could be adding 5, 10, 20 doors a month just from all the referral partners that you've built using the neighbor strategy from other property managers.”

Resources

DoorGrow and Scale Mastermind

TalkRoute Referral Link

Transcript

[00:00:00] These relationships can be very strategically effective and they can, once you've built up enough of them, that alone could be enough doors coming in every month that keeps you fat and happy. You could be adding 5, 10, 20 doors a month just from all the referral partners that you've built using the neighbor strategy from other property managers. All right. 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.

[00:00:56] 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 the 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. Now let's get into the show.

[00:01:21] So, this is a special episode because I'm gonna share with you one of our secret tools. It's so simple, you will kick yourself after hearing it, but it's one of our most effective strategies for getting clients to add doors. And what I find is very few property managers throughout the U.S. or beyond are doing this strategy, which seems crazy. So let's talk about the problem. The problem that exists with entrepreneurs is that we are not focused a lot of times on connecting with other entrepreneurs, so a lot of times what we experience as entrepreneurs in our journey is some sort of isolation. Like we get feedback, negative feedback, constantly from the world if you're an entrepreneur personality type that you should just not change things because you're making everyone uncomfortable. Entrepreneurs are people that move society forward, take risks, change things, and school is not built for that. The school system is built for people to be good employees, not business owners, so in the majority of the people out there, they primarily want safety and certainty. This is a higher priority or value for most people than freedom or fulfillment or contribution or support. I call those the four reasons for entrepreneurs. We care more about freedom and fulfillment than we do about having safety and certainty than having a stable, safe 9-5 job.

[00:02:46] And some of you may have just felt that pressure and eventually gave up that stable 9-5 job to take a risk to start a business, maybe it's your property management business. I remember taking that leap. It's a scary leap, but it's a leap that once you take, you never want to go back because you experience freedom and you taste freedom and then I think entrepreneurs after we taste freedom, we become unemployable. We're just not gonna be great employees because we want to control our destiny and once we have freedom and once we have fulfillment, we then want to contribute. We want to make a difference out there. We want to benefit other people. I get to experience a really awesome or decent level of freedom and fulfillment in my position at DoorGrow and what I do at DoorGrow. I love getting to coach, mentor, and support, and help business owners grow their businesses. And once we start to experience that fulfillment and freedom in our business, the next thing we want to do... it's not enough just to make money and just to feel like we can do what we want to do. We want to make a difference in the world. So it becomes outward-focused.

[00:03:53] We want to contribute. So I'm going to contribute something, I think significant today that I think everyone in the industry should hear this and should know. I recommend you share this episode with every property manager that neighbors you or that you know, and the title of this episode is "The Neighbor Strategy." This is all about the neighbor strategy and how you can help grow your property management business by being a good neighbor, right? And connecting with your neighbors, so that means other property managers. So let me share with you this strategy, and it's really simple. It's really simple.

[00:04:29] So the idea is... here's the problem: the problem is you're not connected to these other property managers. So you get a phone call and somebody says, "Hey, do you manage in Tucson, Arizona?" for example. And you're like, "No, I only do Phoenix-- downtown," or something like that. "I only do Phoenix, Arizona." And they say, "Okay, cool. Goodbye," right? So what you just did is you took perfectly good gold, right? this great lead, and you took it and it's not something you can mine. It's not reachable by you. It's not near where you cover, so you just threw in the trash. Well, I guarantee if the table were turned and you knew that there was a property manager and you were in Phoenix and they were in Tucson and somebody called them up and said, "Hey, do you manage in Phoenix?" and they said, "Actually, no." And they said, "Okay. Alright. Oh, cool. Okay, bye," you'd be like, oh my gosh, I would love to have that, right? That's gold for me, but they just threw it in the garbage. So real simple, the strategy, the neighbor strategy as I call it is to reach out to all the property management companies that are your neighbors that get potential referral opportunities that they could give to you and be their friend and connect with them and to establish a neighbor referral relationship.

[00:05:50] So there's two types of neighbors that you're looking for. So the obvious would be neighbors that are outside of your market. These are property management companies that do the same thing as you, perhaps, maybe they target other niches. Maybe you do single-family residential, maybe they do as well, but they're outside of the market that you geographically cover. So it'd be reaching out to these neighbors and saying, "Hey, if you get a lead, blah, blah, blah, like send 'em our way. If it's outside your market and it's in the area we cover, send 'em to us," conversely, you doing the same for them, right? And creating these strategic alliances and these relationships... really obvious. I have clients that are getting doors every month, just handed to them. You know, one of the members of my team who has a property management business just got five units just a month or two ago, handed to her just by a neighboring property management company that was one of our clients that I say, "Hey, you two should connect. Your markets neighbor each other," and they got connected, and now they're sending business back and forth all the time.

[00:06:57] Now the other category, the second group that you also can connect with also a very effective group are not people outside your market. It's actually property managers inside your market that are in your market, but they do a different niche or niche of property management than you do. They target a different niche, right? A different segment, and what I mean by that is they're focused on a different category or type of property management than you are. So say you do single-family residential and small multi, which is typical for a lot of my clients. You could reach out to commercial management companies in your market.

[00:07:35] You could reach out to association management companies in your market. You could reach out to storage unit and mobile home park management companies in your market because I guarantee that, especially associations, maybe commercial, they are getting requests. They're fielding requests occasionally for residential property management or the type of management that you do, and they just throw it in the garbage. They might have a referral partner, or they might say, "Well, you could talk to this company," but you want to be top of mind for them and create those relationships. And so it's real simple: you just call them up and you share this gold versus garbage analogy that I just shared with you just say, "Hey, sometimes I get this thing that comes to me, and then I just throw in the garbage and I know it's perfectly good gold that somebody else would want.

[00:08:27] And they'll be like, "Yeah, me." And I'm sure you have this situation happen gold versus garbage. You explain the scenario again like somebody calls you up and you're like, "Hey. I would love to have that. Like, we should totally be friends. We should totally be friends," and they're gonna laugh, and they're gonna say, "Yeah, you're right. Like we should do this," right? Really simple. Share the gold versus garbage. Now I'm gonna take this even to the next level and share one of our secrets in our program. This is a secret of how you take a cold lead-- this is a cold lead typically coming in-- and how you convert it into a warm lead before you send it to them, and it changes the close rate on the lead from 10%, which is typical on a cold lead to 90%, maybe as a warm lead. It converts it into a warm lead. The difference between a cold lead and a warm lead is trust, its nurture. And nurturing those through trust so that they're hot enough to close. So here's how you convert this lead that came to you cold asking for property management that you can't service...

[00:09:28] So here is the formula. It's three simple steps to ensure that there is a high percentage close rate that's gonna happen. So the first step is Capture: capture the lead. That's the first step. The second step after you capture the lead, which means get their phone number, get their name, get their property info, whatever. Capture all the information. "Hey, you know what? I don't service there, but let me get your info. I have something really cool. I'm gonna share with you." Capture the lead. That's step one. Step two is share the information of the other company like, "This other company. Here's their name. Here's their phone number. You should talk to them." now, if you really want this to be effective, here's the third step, and you want to make sure that every referral partner neighbor in the neighbor strategy you create, you wanna share with them: do these three steps. Explain it just like this or share this video with them. Just share this video or podcast episode with them and say, "I'm gonna send you something super cool. Here's what I'm thinking. This dude named Jason, he runs a company called DoorGrow and he shared this strategy and I thought it was really clever, and you should hear him explain it."

[00:10:37] So the third step, this is the most important is you amplify. This is how you convert it from a cold lead to a warm lead. So amplification, the way you amplify this, or you convert it into a warm lead is you add trust. So example: I get a lead. I can't service it and I'm like, "Well, let me get your info. Let me give you a name and number of a company. And let me tell you a little bit about them. This property manager, his name is, you know, Fred Flintstone over in, Rubble America or to this city that you need. He is amazing. He is the best property manager in that market. If I had a rental property over there, that's where I would send it. I highly recommend you talk to, you know, Barney Rubble or Fred Flintstone," you get the idea, right? I'm using the Flintstones as an example, but you talk them up. Like you say "They are the go-to one that you should be working within that market. We don't cover it, but if you're gonna work with somebody and you have a property over there, that's the one you should be working with. They've got good reviews. They've got a great process. They have a great business coach. They work with DoorGrow. They're really amazing." Whatever you can say about them to talk them up and help qualify them in the prospect's mind as the best company for them to go with.

[00:11:52] So then they're going to go, "Wow. That other company turned me down, won't service me, but recommended this other one, and I wasn't even sure if I was going to go with them, but they talked this company up highly. I'm gonna talk to 'em." Now because you did steps one and two capture and share there's two opportunities for this deal to happen. The owner client may reach out to the property manager. So there's that potential opportunity, or you then capture that lead, right? You capture their info and you're gonna text it to this buddy or friend, this business owner and send it over to them. And say, "Hey, I just gotta lead. Get on this." Why? Because leads are good for maybe about the first five to 10 minutes after the first 10- 15 minutes, most lead conversion rates drop like 80%. They drop significantly because they're just gonna call the next company and move on, so by giving them the phone number they can call, they can call the property manager. Hopefully, you're answering your phones. And if you're the recipient of this referral, you're gonna answer the call right away. Second, you're gonna get a text message. So hopefully you get the text message and they see that they call even before. So they're like, "Hey, I just texted over to my friend, Fred Flinstone who managed these properties over there, or Bonnie Rubble, his associate. And they'll probably reach out right away, but here's their information, so you can contact them right away.

[00:13:08] Two opportunities, right? Two ways that this can get to them, this referral and this relationship can happen. That then builds goodwill with this other property manager. It creates friendship, there's an alliance there, and they're going to feel a natural need to reciprocate in the future. So by giving out some referrals, you're creating partnership, you're creating people that are going to probably feel obligated to reciprocate and send similar referrals back to you. And so this is the neighbor strategy. So I hope you like this. It is a super simple idea, but we've been sharing this with clients and it's just one little thing to add to the cool referral engines and warm lead strategies that we use at DoorGrow to help our clients grow. This is more of a long game, but you can go and reach out to-- strategically-- and we have scripts for this and we give our clients lists of property managers in their market and outside their market, they could reach out to, so we support our clients in this strategy, but you could very easily do this on your own if you want to, without DoorGrow's help, you can do this on your own, and I really believe a rising tide raises all ships.

[00:14:15] Well, not necessarily some ships won't raise when the tide raises because they're just sitting on the bedrock. They're sitting on the dirt, they're sitting on the sand and that tide goes up... some are going to sink. And I'm cool with that. Like the shittiest, suckiest property management companies should sink, but if you are one of those and you wanna patch up the holes or you're an awesome company and you want to be bigger and better reach out to DoorGrow, we would love to support you in this. This is just one of several strategies that we use with our clients so that they can build this awesome referral engine and funnel of business coming to them. And the cool thing about the neighbor strategy is you can have a hundred different companies. We've got clients in Florida that are getting people in New York and, I think Michigan, there's some sort of connection between Michigan and people going to Florida or having property in Florida. I don't know, and some of these property managers might have clients right now that they're servicing in their market that are in your market that they could connect you to and say, "Hey, I've actually got a client right now that has some units in your market." and so these relationships can be very strategically effective and they can, once you've built up enough of them, that alone could be enough doors coming in every month that keeps you fat and happy. You could be adding 5, 10, 20 doors a month just from all the referral partners that you've built using the neighbor strategy from other property managers.

[00:15:37] Not only that, you may find a mentor, you may find a friend, you may find somebody that you can support and mentor yourself, but I really believe 'a rising tide raises all ships' is a true phrase. Or some sink, right? I mentioned that. Reach out, create these relationships, and let's grow the entire industry. There is no scarcity in property management right now. In the U.S... I was talking to an Australian, did a lot of research, one of the coaches I recently hired and he did a lot of research on property management in his own market. So he was ready to get on a call with me. And when I explained to him that in the U.S., Only about 30% of rental properties are professionally managed and single-family residential. While Australia, he's like, it's so commonplace. It's like 80%. He was blown away. He was like, "That's crazy. There's so much opportunity in the U.S. So much opportunity." There is no scarcity, but they're not looking online. So if you're trying to figure out: "How can I get more business and create more market share instead of fight over that 30% that are already using property managers and try and get them away from another company, which generally never happens. How can I grow my business faster without doing any advertising without doing internet marketing?" Come talk to DoorGrow.

[00:16:53] This is what we help our clients do. One of our clients added 310 doors in the last year. That would be impossible. No matter how much advertising he did, he wouldn't have had the bandwidth. He wouldn't have the sales team that could handle that many leads, do all that follow-up, but warm leads close, easier, faster and more efficiently. And he did that with only five or six realtor referral partners, but he used our strategies and he contacted a thousand, right, just to find those. He had to kiss a few frogs, but we've got some really effective strategies. It's not what you think. It's not the typical way as people try and get referrals. You probably get some occasionally. Here's the thing, the secret there is that nobody wants property management. Nobody's actively, generally looking for it usually, unless they're at the very end of the sales cycle and they're searching online and they're the worst, the most price sensitive. How do you capture that 70% that don't think they need it, but they probably do, you can solve their problems and are not looking for it? That's what we share at DoorGrow. So, one of our top strategies, so reach out to us. We'd love to help you grow your business. And tell us in the comments, if you started doing this, if you've got some good neighbor partners, we'd love to hear about it. And if you hear about this episode and come on board as a client, let us know. We'd love to hear that this has been helpful for you. And until next time, to our mutual growth. Bye, everyone.

[00:18:12] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!

[00:18:39] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.

Download this Episode

DGS 182: When Potential Property Management Clients Choose A Cheaper Competitor 0

Aug 9, 2022

How do you deal with a potential client who chooses a cheaper property management company over you? Sometimes, these clients are just a bad fit, and other times, your sales pitch is actually the problem.

Join property management growth expert Jason Hull, the founder and CEO of DoorGrow and learn to deal with price-sensitive prospects and how to qualify potential clients.

You’ll Learn…

[01:54] The Problem is Usually not Price, it’s ____

[05:53] Why You Should Sell Certainty… Not Property Management

[07:38] Using the Golden Bridge Formula in Sales

[11:16] Why Getting Feedback in Lost Sales is Invaluable

[14:22] Building a Business You Can Sell… But Won’t Want to

Tweetables

“Most investors do not want to be landlords. They want to be investors.”

“If you find yourself fighting to keep a client or fighting to get a client, I like to just let go of the tug of war rope.”

“Nobody really wakes up in the morning, goes, "Man, today I wanna buy property management." What they want to buy is peace of mind or safety and certainty.”

“Why do you wake up in the morning? Why do you live the life that you do? Why did you decide that this business was a vehicle for you to get fulfillment from and freedom from and contribution from and support.”

Resources

DoorGrow and Scale Mastermind

TalkRoute Referral Link

Transcript

[00:00:00] If you find yourself fighting to keep a client or fighting to get a client, I like to just let go of the tug of war rope. This is the easiest way to really win in a tug of war is to just not play the game

[00:00:11] All right. Welcome DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, help others, impact lives, increase revenue, and you're 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 daily variety, the unique challenges, and excitement that property management brings. Many in real estate think you're crazy for doing it though. 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 the 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. Now let's get into the show.

[00:01:10] So today what we're gonna be talking about is-- during our Grow Call, one of our mastermind calls today, one of our clients brought up that they had a challenge. They followed up with some leads and they found out that they had gone with a cheaper competitor. And they said this had happened a couple of times, and what that tells me as a coach or as a consultant– that reveals to me that there's a leak maybe in their sales process. They might have just been a bad fit. So we always wanna qualify our clients, but I wanted to discuss today and talk about how to deal with the cheaper competitor when somebody is going with another company and how to prevent that from happening.

[00:01:50] So one of the things that I teach in our sales secrets training is, when people are really heavily focused on price, one tactic is this formula that's based on neurolinguistic programming, that: "It's not A, it's B." and so the way that you can utilize this, that "It's not A, it's B" formula is really powerful when you're trying to change people's thinking from what they're concerned about and thinking about and focused on to what they should be thinking and focused on. So the way this formula works is you just say, "The real issue is not A. (whatever they're thinking about). It's actually. B." So for example, if the real issue is not price, but they're thinking about price, you would say,

[00:02:29] "Hey, Mr. Owner, I find that the real issue and the thing that most savvy investors are focused on is not actually price. The savvyer investors and some of our best clients, what they realize is the real issue isn't price. It's actually things like vacancy. One month of vacancy, if you're paying a mortgage on the property, could be an entire year of management fees. So good property management really may not even cost you anything. If on average you're not very effective at getting the place rented out, or you have a month of vacancy, our management fees would be covered because we're really good at getting things rented out quickly, and we can decrease that vacancy. So that would cover our management fees."

[00:03:07] Or "The real issue isn't price. It might be just getting the best amount for rent, and we're really good at getting rent. And so, some people are not really good at getting the high rent, and some property management companies might not be motivated to. We know how to get the top dollar for rent, and if you haven't raised rent in the last several years and you're 10% below market value, our management fees, even if they're as high as 10% or whatever they might be, it would be offset if we just raised the rent to its effective rate that you can get in the marketplace. And so our management would basically be free. We'd be able to collect more rent and it'd be a wash, right. It wouldn't cost you anything, and you get to get this off of your plate."

[00:03:48] Most investors do not want to be landlords. They want to be investors. Right. And so you can just ask them, "Do you love being a landlord and like doing property management related tasks, or do you really just have this because you really enjoy being an investor and want more investments? Cool. Let me help you do that."

[00:04:04] So the other thing that I coached on during that call is if somebody goes with a cheaper competitor, I love to deal with the tug of war that we normally feel like we need to pull on the end of that rope. If you find yourself fighting to keep a client or fighting to get a client, I like to just let go of the tug of war rope. This is the easiest way to really win in a tug of war is to just not play the game and let them fall on their ass. Like let go of the rope, and let them, you know, let them go. So what you can do-- I would love it if you would just say to them, "Hey, no problem. You've gone with another company because they had a cheaper price. Totally cool. We are perfectly happy to be your second property management company. We're perfectly happy to be the next property manager," and then what you can do to poison the well is just say, "Look, in the future if you run into these problems..." and then state some problems that you know are likely to happen with a not as good of property management company is yours.

[00:05:02] "If you notice these red flags" or "if these things happen to you," and you can future pace them and point out typical problems that they might have with another property management company. "If this happens, when that happens, just remember us. We will still be here. Keep our phone number, reach out to us" and that sort of thing. You also can say, "and would it be cool if I checked in with you in a few months, just see how things are going?" And you can follow up with them. "How's things going with this new management company?" At the very least you could follow up just shy of a year of when their renewal date would be with that other company, just to check in with them and see: "How's your experience been with that other company?

[00:05:38] If they say it's been great, you say, "Cool, really glad you're having a good experience. If it ever changes or you wanna talk to us, you know, we'll be here." But if they haven't had a good experience, then you can deal with that. Now here's the thing to remember. Usually if somebody goes with another company, even if they claim it was based on price, it's because you failed to be effective during your sales pitch in your sales process. Remember, people do not buy property management. Most of your competitors, people that don't listen to the show, people that are not my clients especially, they are going to sell property management. Smarter companies, my clients' companies, what they will do instead is sell safety and certainty. Nobody really wakes up in the morning, goes, "Man, today I wanna buy property management."

[00:06:25] What they want to buy is peace of mind or safety and certainty. This is what they want. And so, effective property management companies don't sell property management for a fee they're selling safety certainty. Now if you recognize this, other companies will not be selling safety and certainty, they'll be selling property management. So you can be a disruptor and you can sell safety and certainty and point out flaws in other companies or red flags to look for, to poison the well that might prevent them from going with another company because those companies are not focused on safety and certainty, giving them peace of mind.

[00:07:01] They're focused on selling property management features and benefits and what they get and that sort of thing. So the way to do that-- we teach that the most effective way to create safety and certainty is to remember this quote from Simon Sinek, who wrote _Start With Why,_ he says in one of his videos, he says, "People do not buy what you do. They buy why you do it." And so one of our most effective sales formulas that we teach is called the "Golden Bridge Formula." And we teach clients how to identify their personal 'why,' how to identify their business 'why,' company core values, client-centric mission statements, some of these materials, decision-making guides, etc.

[00:07:38] This is in our Purpose Secrets training, but once you have that, you can then utilize what we call the Golden Bridge Script or the Golden Bridge Formula, which is basically sharing your personal 'why,' business 'why,' and connecting it to their 'why,' which is what do they want? So if you know what they want and you know what they're trying to get and what they're trying to have and why they have rental properties and why they're doing this, which means during your sales pitch, you need to identify this stuff first. This is the first side of the bridge. It's their side of the bridge. If you're gonna build a bridge to somewhere, you need to know where they're at, what their side is. You need to figure out their 'why,' then you can relate your personal 'why.' Like, why do you wake up in the morning? Why do you live the life that you do? Why did you decide that this business was a vehicle for you to get fulfillment from and freedom from and contribution from and support from, right? The four reasons.

[00:08:27] If you aren't familiar with that, go back and listen to my episode on the four reasons for starting a business. But they need to understand why you're doing this because if you don't relate your 'why,' they're gonna assume that your 'why' is just to squeeze money outta them, probably as unethically as possible. That's the default people assume for any business if they don't understand your real motivation. Like my real motivation, my personal 'why' statement is to inspire others to love true principles. That means I love learning what works and sharing it with other people. That's just fun for me. So I built a business that allows me to do that every day, and that's why our business 'why' is to transform property management business owners and their businesses. That 'why,' our business fulfilling on that 'why' allows me to get personal fulfillment on my 'why.' So the business is in alignment with what I want, and it's in alignment with what you want as a potential client of DoorGrow.

[00:09:19] And so there's alignment when people understand. Then, you've built that bridge. That is the golden bridge. It's the ultimate bridge. The ultimate secret for building trust and rapport quickly is to share your 'why,' the business-- why it exists-- and connect it to their 'why.' Once you've done that, there's an authentic connection between your heart and your motivation to their heart and their motivation. So they know that your interests are in alignment and they can trust you, and sales and deals happen at the speed of trust. Sales and deals happen at the speed of trust. It's not about satisfying logic.

[00:09:52] It's not about satisfying their brain. It's not about all the features and benefits. They will not go with you or work with you just because you have the best features and benefits or the best price necessarily, if they deep down don't trust your motivation and trust you to actually fulfill on it and that you have some sort of inherent motivation to get them what they want. So otherwise, they'll just assume, like I said before, that your motivation is money as unethically as possible, which should not be your motivation. Hopefully, it's not. Most business owners really do want the four reasons. They want freedom, fulfillment, contribution, and support. Money is a side effect of focusing on those things. But when you're lacking those things, then you focus on the fifth reason, which is safety certainty, and that's what your potential clients want, and if you're starving and focusing on safety certainty and giving up those four reasons, you are now a business that's out of alignment, that's less ethical, or that has problems, right?

[00:10:51] So they need to know that that's not you, so shift your focus away from _what _and focus on _why _you do what you do during your sales pitch and process, and that will distinguish you from all of your competition. So that's probably one of the biggest leaks that exist in the sales process. And so you will probably be able to poison the well or stand out, or however you want to phrase it, better than your competition, because you focused on 'why' and not 'what.' Now, if the last thing we shared, if you don't get them on as a client, it's a great idea to do some sort of, almost like an exit interview, but to reach out to them and just get feedback on why they didn't go with you. And if you frame this in a really positive way, like,

[00:11:31] "Hey, it would really mean a lot to me if you could help me out and help me understand, like what made you choose that other company over us." That feedback is invaluable for the future, so you can make changes for the future to make improvements on your pitch, on your sales process. And so if they're just like, "Hey, it was just basically price. You all look the same." That's not feedback that your price is wrong. That's feedback that your pitch is wrong, that you would look the same as everybody else. You're just a commodity. And when you don't focus on _why _and you just focus on _what,_ then you are basically saying, "I'm just a commodity. I'm like every other property management company out there." So doing these exit interviews will give you really valid feedback, you know, or whatever you would call it so that you can improve your sales process in the future. So keeping track of these in your CRM is also a good idea.

[00:12:16] So historically, we would keep track at DoorGrow. If we lost a deal, we would keep track on what the reason was. Was it because they weren't financially qualified, they didn't have the funds? Was it because they couldn't afford us? Was it because this didn't really solve some sort of pain or problem for them, they didn't have any immediate pain or problem or challenge that they needed help with? Things were pretty good. So they're like, "Why should I spend money to work on growing my business? I'm actually growing okay right now," you know, or like, "I love my day-to-day business and I love what I'm doing, so I don't need to improve that." Right? So if they don't have any pain or any problem that we can solve, that might be a reason. So it might be that they just were never available and that we couldn't communicate with them, so we just marked the deals lost because they ghosted us. And so those are the ones that we won't allow to become a client later on 'cause if they're not ethical enough or responsible enough to like, at least tell us they're not interested or to communicate with us, and they just ghost us, we're really careful about bringing those type of clients on 'cause they'd be terrible clients to work with if they're not communicating and don't communicate with us, right?

[00:13:16] So we keep track of these types of things that we get data and we can see: why are people not signing up for the program? Or why are we not closing deals? Why did we lose that deal? And going and asking people, "Why did we lose the deal?" Sometimes we're able to identify an objection or a challenge and find out they went with some alternative or they went with some other thing or they just thought something was missing or they misunderstood something in the program.

[00:13:40] "Well, you guys don't offer a website, and we needed a website with it."

[00:13:43] "Oh, well, we do. We must not have explained that during our pitch."

[00:13:47] So we can then deal with that objection and sometimes still get the business on. So getting that feedback can be very valuable. So hopefully, this episode helps you to be able to know how to deal with those cheaper competitors. I have some great episodes from the past, like with Darren Hunter on people asking for discounts. So before you lose the deal, if they're asking for a cheaper price or the price of the company competitor down the street, check out the interviews that I've done with Darren hunter fee max expert in Australia, and we got some other cool episodes that might be relevant too, dealing with sales or that. So anyway, if you are struggling with anything in your business, growing and scaling your business, we just launched this awesome program called the Rapid Revamp that is part of a bigger program called Built to Sell.

[00:14:32] And so if you wanna build the ultimate property management business, you wanna build a business that is built to sell in the next three to five years, which means in the next three to five years, you can have a seven-figure exit on your property management business because you've been able to grow it, build it up, and get yourself out of being the linchpin in the business and the day to day so that you could sell this business. And here's the secret, you may not want to sell your business. And if you can build a business that you can sell, that is the ultimate business that you would not want to sell. So building a business to sell is how to build a business to keep. This is a business that is an asset that makes you money that you don't have to be involved in the things that you don't want to, and it becomes the ultimate vehicle for you to get fulfillment, freedom, contribution, and support in. So it's actually giving you things besides just money. So you're not gonna wanna sell it for just money because it's giving you purpose in life and giving you momentum.

[00:15:26] And so that's the ultimate business. The ultimate level of freedom in a business is to have a business that you could sell if you wanted to, and you can sell it for a nice exit, not being one of the companies that sells because it's got so many problems that it's a bargain for some other company to come in and snatch up because they can improve it and make it so much better and rehab your business. Let us help you rehab your business with our rapid revamp program. So check us out at DoorGrow.com. Our next class starts in October. We've got our first class going through right now. We've got about-- I think about 50 businesses going through this Rapid Revamp. Right now, we are only planning on allowing 30 in our next class. We're allowing our existing clients to go through this class with us. The next class is only gonna be 30 slots. We're only probably letting about 10 on in a month over the next three months leading up to October. So if you want to get your spot reserved, we have some bonuses and some special things that you can have access to even before we start that class if you pay and get signed up for this class.

[00:16:28] So this is not cheap, it's not for the faint of heart, but it's way cheaper than buying into a franchise, and we even have franchisees that are going through this or that choose into this because they want to grow their business, but this is going to be an-- it's an awesome program. We're getting really positive feedback. It's a culmination of everything we learned by doing our mastermind and by doing our former Seed Program, which we had four versions of. So this is version six, I guess maybe, or more of our programs, and this is the best stuff that we know to grow businesses rapidly in a 90 day period to lay the ultimate foundation for growth, and we're calling it the Rapid Revamp, so it includes a website, includes branding-- rebranding-- logo design, includes pricing revamp. We're optimizing all the leaks that exist in your sales pipeline. It does not make sense to do marketing, advertising of any sort if you have-- turning on the hose, so to speak, of this faucet of all these things, if you have a hose connected to it, which is your sales pipeline that has massive leaks at each stage, which would be branding, reputation, website, sales process, pricing, all these different leaks. We're gonna dial in all of these leaks to a level that you have not dialed in before and make sure that your business is really effective.

[00:17:41] So I'm really excited about this program so are our clients. You should be too. So check us out at DoorGrow.com and get onboard for our Rapid Revamp program that's coming up for October, and it's gonna be awesome. So, and we kick it off with an in-person event live and it's gonna be really cool. So, yeah. Get in on this. It's gonna be really cool and you gotta be around some awesome people in your class. So anyway, until next time, to our mutual growth. Bye, everyone.

[00:18:08] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!

[00:18:35] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.

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DGS 181: How To Strategically Plan Your Day 0

Aug 2, 2022

Do you experience a lot of pressure and noise in your business? Have you had the same tasks on your to-do list for months? Every business owner benefits from having time set aside for strategic planning.

Property management growth expert, Jason Hull shares the secrets to strategically planning out your daily tasks to lower your stress and tackle to-do list items effectively.

You’ll Learn…

[02:03] Setting Aside Strategic Time and Why it Matters

[03:26] Setting Intentions for Events in Your Day

[05:15] Feeling the Negative Feelings to Lower Pressure and Noise

[08:24] Why Celebrating and Appreciating the Good Matters

[11:23] Finishing up Your Schedule

[14:02] The Secret Final Step: Offloading

Tweetables

“The king or queen needs to eat first, otherwise you're going to have a starving kingdom.”

“One of the simplest daily things you can do to get more juice out of your day, more momentum will be to do daily planning.”

“When you make a decision about what your intention is like, what outcome that you desire to have from this interaction or this event, you are more likely to have that happen.”

“I want you to remember that the only thing you can do with negative emotions is to feel them.”

Resources

DoorGrow and Scale Mastermind

TalkRoute Referral Link

Transcript

[00:00:00] If your baseline stress level is higher and higher and higher because you're just adapting to things and you're tolerating things, you are going to feel more anxious and more preloaded and more stressed, and it's gonna catch up with you.

[00:00:12] Welcome DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase your revenue, help others, impact lives, and you're interested in growing in your business and in 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. Now, let's get into the show.

[00:01:10] So today's conversation topic for today's show is going to be daily planning. And so what I wanted to go over today with you is daily planning and how I plan my day. A lot of these ideas I learned from one of my mentors and coaches, Alex Charfen, with my own adaptation to this. And so this is my way of doing daily planning. And if you're wanting to follow along or try this or do this, you can go to doorgrow.com/dailyplanning, and you can fill out this form and go through this process. I've built a really cool form to take you through this process. It asks for your email address and it will email you your to-do list of everything that you filled out on this.

[00:02:01] So I'm gonna take you through this. So first step in doing your planning, and you wanna do this either at night, which was recommended by Thanh Pham, one of my friends, who runs asianefficiency.com, and he recommends that you do it the night before. I usually will do it in the mornings early. I like to get up early before the kids, pets, work, phone calls, et cetera, and use that sacred time in the morning, but whatever time that you do this, map out some strategic time, and I want you to be clear on this principle, that strategic time is really where a business owner is best spending their time rather than tactical day to day work, right?

[00:02:42] Tactical stuff needs to get done, but anything that's tactical usually can be done by somebody else. You can offload that you can hire somebody to do that, eventually is the goal. But you spending your time-- somebody needs to be spending their time doing strategic work on the business instead of in the business. Somebody needs to be the general in the tent, you know, making the strategy for the army. The king or queen needs to eat first. Otherwise, you're going to have a starving kingdom. This is where you kind of place yourself at the head of this company and get to be the visionary during strategic time. One of the simplest daily things you can do to get more juice out of your day, more momentum will be to do daily planning.

[00:03:21] So, first thing we want to do is take a look at your schedule for the upcoming day. So the first step is: schedule an intention attracting what you want. So what scheduled events do you have today or for the next day? And what is your intention for each. So for those of you that are a little bit new agey, or those of you that have followed, you know, different gurus or coaches out there, intention is a very powerful thing. You've probably heard them talk about it. What I have found is when I set my intention for what I want to occur or happen, unconsciously something-- it happens differently. Like, I don't know. Some will say the universe like makes it come true, or maybe your unconscious mind starts working on that challenge.

[00:04:03] But when you make a decision about what your intention is like, what outcome that you desire to have from this interaction or this event, you are more likely to have that happen. And so my recommendation is that you go through your schedule, and in the example you'll see on the daily planning form that you'll be filling out, you put some sort of timestamp, like "at 9:00 AM I'm meeting Fred Smith, and my goal is to inspire him to hit his sales goals", for example, or "at 10:00 AM, I'm meeting with Fred Savage from The Wonder Years-- just kidding-- and I'm gonna negotiate a win-win deal." Right? That's my intention. So you're gonna have certain appointments, certain interactions meetings with your team, different.

[00:04:44] What's your intention for each of those and just by consciously setting an intention for each, what I find is I get a lot more of what I really want out of those instead of just kind of stumbling into them. I know what my intention is. And so make sure you have your intention set. You're gonna get much greater results. If your intention is to close the deal, you're far more likely to close the deal just by putting it out there and to your mind, your unconscious mind, to the universe, to God, whatever you believe in-- by setting the intention, you're far more likely to get that result.

[00:05:15] So the next step after you do that is avoiding and discomfort, emotional health, and lowering your pressure and noise. So what uncomfortable feelings did you not want to experience in the previous day? What made you uncomfortable recently? State related actions that you can take. And so as a reminder, I want you to remember that the only thing you can do with negative emotions is to feel them. And usually thinkers like myself, logical people, we try to find ways to not have to feel those uncomfortable feelings in the future. But the only thing you really can do with the feeling is to feel it. And so rather than just analyze about the feeling or analyze it, or just think about, "how can I avoid this in the future and how can I escape this feeling?"

[00:06:00] One thing I would recommend that you set an intention to do as a to-do item is to spend time feeling that feeling. So as an example, these are different action items or to-do items related to discomfort. I find that a lot of these things are simply solved by an Amazon order or something like that. Like I was uncomfortable maybe because I ran outta toothpaste or I ran outta soap or I didn't have this. Cool. Those are easy. I can make those to-do items, "order toothpaste," "order, you know, this," right. Place an Instacart order, get some groceries. Right? So example: upset at partner, fear, I fear an uncomfortable conversation. Have the conversation.

[00:06:38] Another example: feeling anxious. Sit for five minutes and feel through that emotion, that anxiety and feel through it. Lawn, not being mowed, bothering me, research and find a gardener, right? Like these type of things. Right. So figure out what-- because as entrepreneurs, we tend to just keep more and more on our plate. We tend to cause more and more challenges, and we're really adaptable and we get really good at these painful things and these uncomfortable things just becoming white noise. I don't want these to be white noise for you because the more white noise you have, the harder it is to hear everything else, and so if we're talking about emotions and stress, if your baseline stress level is higher and higher and higher because you're just adapting to things and you're tolerating things, you are going to feel more anxious and more preloaded and more stressed, and it's gonna catch up with you.

[00:07:27] And stress is the number one killer, like it eats at you. Your body eventually starts to break down if stress is high enough. It starts to kind of cannibalize itself. So cortisol is released. Cortisol is a stress hormone, cortisol, negates all of the effects of testosterone, which, whether you're a guy or a girl, testosterone is what motivates you to have sex drive. It's what motivates you to accomplish things to some degree, it also can sap other chemicals in your brain, so I want you to be healthy as possible. So we want to lower that baseline pressure and noise. That means clearing out all these really easy, sometimes, things to solve. Right? And sometimes you just need to feel through something and just experience the feeling cuz you cannot feel it forever, and then it will go away.

[00:08:12] So that's the next step. What things could you do that day to solve, you know, discomfort or things that made you uncomfortable in the previous day and just getting clear on which things are causing you discomfort. The third step is celebration. It's celebrate things you wanna reinforce more of. The things you celebrate, tend to grow, and so what wins do you need to celebrate? What wins have you had? What accomplishments do you have? This sends a powerful message to your subconscious, that, "Hey, these wins mattered. A lot of times we make the mistakes as entrepreneurs that we achieve an accomplishment, and then we send a powerful signal to our unconscious that it didn't matter.

[00:08:50] So celebrating those wins, but also celebrate the work. If you are celebrating the work and the effort to achieve certain things, you're going to be much better at achieving those things. That wires your dopamine to be more effective for winning. So celebrate the actions. Celebrate, "Hey, I made 300 phone calls this week of outreach," or Hey, "I did..." whatever it is that you accomplished. Celebrate those type of things you wanna reinforce more of just celebrating the end results sometimes can demoralize us because sometimes we don't have control over the end result, but we can control the actions leading up to it. So celebrate the actions. So example: the team hit 80% of our commitments this week. Post to the team about it and celebrate right. Or highlight them in our meeting today and celebrate with them. Where I worked out three days in a row, brag to somebody. Right. You know, so figure out some action items you can take to reinforce this.

[00:09:48] The next step is appreciate. This is powerful. Now, I used to use the word gratitude, and I love the idea of gratitude, but ' appreciate' is a more effective word. And I like this, especially being here, kind of in the real estate sort of industry, when things appreciate, it has a double meaning. When you want to appreciate something, you are recognizing its value, but not only that, when you appreciate things, you also are taking an asset or something valuable and you're increasing its value. And so the things you want to grow, appreciate them, and they will grow. They're going to appreciate in value as well. So who do you need to appreciate, you know, this day? What are you grateful for today? State related actions that you can take.

[00:10:33] So an example: Adam reached out to all of our clients. I want to appreciate him during our morning huddle or Sarah helped me sort out some ideas. I want to make sure I appreciate her in our morning huddle as a team. Right? So appreciation will give you some action items that will benefit and bless you and your team, right. Putting some appreciation, some gratitude out lets your team know that they get to feel appreciated, and so appreciation helps me grow my team members and helps improve the relationship that I have with my team and improves the culture of the team. So appreciation is powerful. Appreciation helps your relationships. Appreciation helps you with your kids, right? Recognizing things and seeing the good in others, appreciation is the next step and then ideas and inspiration.

[00:11:23] So this is step five: capture your inner genius or other tasks. So throughout the day, I'm usually writing down ideas, taking notes on things, so I wanna go back through those and say, "What ideas did I have? What sparks did I have? Do I want to add these to maybe an idea board or an idea list? Or is there something that I want the team to do? I just got this great idea talking to a client. Maybe we should do that for everybody."

[00:11:47] Anything else? This is basically the, 'anything else category.' What ideas, books, videos, actions you need to take, add to your to-do list. State them as related actions. So for example: read It Doesn't Have to Be Crazy at Work by Jason Fried. It's a good book by the way. Or “create sales script for Referral Secrets training,” you know, or stuff like this, right, for my clients. So as you get ideas, you can feed these in your daily planning as well and capture those ideas, so you have them as action items. So if you have, you know, appreciation, gratitude, and these type of things, they should be converted into actionable items, because otherwise they're not really useful, right? Because feelings don't really exist to other people, unless they're expressed, right. Love is an action. Right? Love is an action that creates the feeling of love, so take the action and it will create these things. So I want you to convert these into actions.

[00:12:42] So number six is your to-do list. Like anything else you haven't listed before? Maybe it's not ideas. Maybe it's not other things, but you're just like, "I know these other things need to get done." This is kind of that miscellaneous catchall at the end. Like "I need to email my accountant about that SBA loan thing," or "I need to cancel that unused Hulu account" or, you know, whatever. Right. So anything else on your to-do list? You. Put that stuff in there and you click 'okay.' And then I added this question. This is a very powerful question. This is number seven. This is, I think the last thing, besides it asking for your email address: what is the one thing or your next right thing, right?

[00:13:23] What is the one thing in your business or personal life that if you could do this day, that by doing it will make everything else easier or unnecessary? What's the earliest or first step or next action towards that, the next right thing that you can do to accomplish that one thing. This would make the day a win if you could just get this one thing done. So, and I have an example, like: make money= do four hours of outbound prospecting this day and get some cash in. Right? If that's that's my one focus today, if I could just accomplish that. That allows you to take this big to-do list and boil it down.

[00:14:02] Now, the secret next step in this, that is not mentioned on this daily planning-- I think it's mentioned on the output screen at the end. The last step that you, I want you to take is that if you have any team members, if you have an assistant-- which everybody should have an assistant-- if you have an assistant or team members is to take this output, you plug in your email address, it will then send you an email with your big to-do list of all the stuff that you want to accomplish, and then you take this list and you give this to your assistant or you delegate all these things to your team, so you can cross them off your list. A really good leader has a really good team, and a really good leader knows to delegate. What I do is I take this list-- and if you're handwriting this out, what I used to do when I would hand write it is I would just write somebody's name next to each of these things.

[00:14:53] I'd write some initials for team members. I'm like, " This is Adam's. This is gonna go to Sarah. This is going to go to Kyle on my team. These team members can take these things off my plate." That's why they exist is to support you as an entrepreneur. "And this can go to my assistant, Mar..." so I just as assign these things out. And so that's how I do daily planning. So then my to-do list doesn't continually grow every day. I'm able to delegate and assign, and it gets smaller and smaller every day. My discomfort gets smaller and smaller every day, or I'm tackling something in it every day. I'm appreciating people every day. Right? And when we're grateful, we attract more abundance into our life and better things come to us. Right? So psychologically it rewires our brain for more positivity. I'm starting to notice things that I didn't notice before. So this is really effective. There's a lot of psychology that goes into this planning process.

[00:15:43] I encourage you to use it. I would love to hear from you. So wherever you're seeing this video, comment below, if you start using this or let, let me know, I'd love to get your feedback. What is working for you? What do you do differently in your daily planning, if you have anything else that you do? But this covers most of the things that I've heard regarding plans for the day and will help you have a really clear-- you'll have your agenda for time with your intention, you'll have the things that you're grateful for, you'll have the things that you wanna celebrate, you'll have all your ideas, and you will have the stresses and the discomforts, you'll become more conscious of those so you can get rid of them and offload them to lower your baseline pressure and noise, and you'll have clarity on your one main thing that you need to accomplish that day so you can give yourself permission to have a win, right. And feel like you did something right. So that is daily planning. So I hope this is really helpful. Again, you can check that out by going to doorgrow.com/dailyplanning, one word, and you can go through this daily planning.

[00:16:47] Normally, I only gave this out to clients. It's a super effective way of creating momentum right away for new clients. And I wanna share that with everybody. I hope you find it beneficial. And if you're wanting to get in momentum and get signed up for our upcoming Rapid Revamp program, I highly recommend you check out this new program. It's gonna be really, really awesome. Some of you may have heard about or experienced our Seed Program. Some of you heard about maybe our Grow and Scale Mastermind. We've got this new program called Build to Sell. So you can build a new business, build your business so that you can sell this business in the next three to five years for a seven-figure exit.

[00:17:26] Even if you're starting from scratch, I've helped people scale their business up to this level, or you'll have a business that is built to sell, but you'll realize that when you build a business to sell, it's a great asset and you're gonna want to keep it. So you may want to stay in that business and keep it, but you won't be miserable in it anymore because you've built it effectively, so you're not involved in it the way that you would have to be, and you wouldn't be able to be if you were gonna sell it. Right. And so this is going to create really effective businesses built to sell. The first three-month 90-day program we have is called the Rapid Revamp. We're gonna clean up your pricing, clean up your branding, clean up your website, optimize your entire sales pipeline, clean up your sales process, and give you three of our top acquisition strategies so you're adding doors without spending a dime on marketing, and we're gonna do all that in a 90 day period. It's rapid, it's a training program you're gonna be moving through on a weekly basis with your class with a group.

[00:18:23] Our first class is already starting. By the time you see and hear this, it will have already started, so you are too late for this. We only wanna allow 30 people in. We open this up to our existing mastermind clients. We have over 40 signed up already... already right now. But our next cycle is gonna start in October right after rent week, which is the first week of the month. It's gonna be the week after that on Tuesday. So get in. It's first, come first serve. We're only opening up for a certain number of slots that we feel like we can confidently take through in a course in a class over the next 90 days after that. So make sure you get in early. So if you're interested in this, reach out to our team, you can check us out at doorgrow.com and get on a call.

[00:19:08] So until next time everybody to our mutual growth. And I'm out. Bye everyone.

[00:19:13] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay per lead content, social direct mail, and they still struggle to grow!

[00:19:40] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.

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