Why Most Property Management Business Plans Fail!

rents2riches Blog, Property Management Marketing

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I just wanted to send out a quick blog post update and I want to ask yourself a very simple questions – do you have a solid property management business plan in place? Do you have a marketing plan to get new properties?

 

And then, further more….when was the last time you worked on this plan, or worked from it?  Do you actually follow it?  Is it collecting dust?

 

Why have it if you are not using it?

 

There are so many people that create a business plan, spend all kinds of time on it, and then let it sit around.  The problem? … Their business plan does not address the most important part of the property management business plan…. the action item list or “process goals” as I like to call it.  The Process Goals are those that, if achieved, WILL result in you achieving your fiscal or “achievement” goals.  Process goals are arrived at by working backwards from your fiscal goals.

 

Lets say you want to make $2,000/month in property management.  Then you first start by determining how many houses you will have to get to achieve that.

 

Then, you continue to work backwards….  Lets say that to achieve $2,000 per month, you determine you need to have 25 houses.  Let’s further say that you want to achieve that in 6 months.  All very doable, btw.  So, you want to get, on average 4 houses per month.  Extremely achievable.

 

So, what actions are you going to have to take to get 4 houses per month?  Breaking this down even further, you need to get just 1 house per week.  Now, you need to assess all of the marketing methods that are out there and create an action item list for yourself and your team and determine what needs to be done, every day, every week, to achieve 1 new house per week.  And then you have to hold yourself and your team to those commitments.  It is relatively easy to set your process goals, now, to hold yourself accountable and actually do them?…. That is different.

 

And….that is where Rents2Riches can help.  We are starting up our next round of group coaching, mastermind group and 1 on 1 individual coaching.  We are in the process of starting our interviews for who is the hungriest and the most committed to growing their property management business.

 

If you want to get your business plan, process goals, marketing plan on point and have an accountability partner to help you through the entire process and keep you on track, then we want to help.  Let us show you what it is like to work with us with a totally FREE coaching consultation!

 

As a commitment to our readers growth, we are offering a 1 time, free consultation to help you determine if you would benefit from one of our group coaching or 1 on 1 coaching relationships.  If you have already had a 1 on 1 in the past, and want a refresher, that is OK too, go ahead and sign up, as long as you are potentially interested in working with us!!

Click Here To Sign up for your FREE 1 on 1 Coaching Consultation!

 

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rents2richesWhy Most Property Management Business Plans Fail!