The property management industry has been moving more and more towards automating tasks and processes in the last decade. Property management tools and software have improved drastically and continue to improve every year.
In this episode, property management growth expert, Jason Hull sits down with Mo Hussein from Balanced Asset Solutions to talk about property management tools and systems.
[06:23] Why You DON’T Want Software that Does it All
[10:27] Implementing a New Tool or System
[20:40] The Cost of Hiring vs Implementing a New Software
[28:04] The Most Effective Accountability System for Your Team
“Try to evaluate software from a very objective type of lens. At the end of the day, it is just a tool.”
“You don’t see an amazing handyman or you know, vendor or somebody that’s going to do some work, show up with a, just a multi-tool. Like where’s your toolbox?”
“There’s no such thing as one product that’s going to do everything extremely well.”
“The humbling experience every business owner needs to have is when they start to hire people that are better at the things they used to do that they’ve let go of.”
[00:00:00] Jason: Initially when I was playing around with stuff in my own business, I was like, I need to find that multi-tool, and I think this is a mistake a lot of people make. I need to find this multi-tool that can do everything. That sounds like that would be the best thing, but it does it really badly, right? You don’t see an amazing handyman or somebody that’s going to do some work, show up with a, just a multi-tool. Like where’s your toolbox?
[00:00:23] 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’re 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.
[00:01:24] So my guest today, I’m hanging out with Mo Hussein. Welcome Mo and what’s the name of your business?
[00:01:30] Mohammed: Hey Jason. Pleasure to be here. It’s called Balanced Asset Solutions.
[00:01:34] Jason: Balanced Asset Solutions. Awesome. So the topic Mo and I are going to be chatting about today is the Power of Innovative Software Solutions. But before we get into that, Mo, why don’t you give everybody a little bit of background on yourself and how you’ve sort of connected yourself to property management?
[00:01:50] Mohammed: Yeah, great, great question. So we are a CPA accounting and technology advisory firm that specifically just focuses on real estate. So we work with property managers, asset managers, fund managers. In implementing software leveraging software to be able to streamline their business and enabling them to be able to scale. Prior to starting this practice about six years ago I’ve actually worked for AppFolio and well before they were public as well as Yardi Systems. And what I saw in the market was you know, the software is a tool at the end of the day, and there’s a lot of complexity that comes with these programs. The accounting nuances, how to properly implement it, get your accounting to work right, your numbers to show up correctly. And a lot of customers would call in asking for accounting and operational kind of advice. And being a software vendor, we’re there to make sure that the product is technically working right, versus giving advice in the accounting and operations world. And so we started this practice about six years ago and we offer, you know, CPA and accounting services around the accounting that bookkeeping using these products and also kind of maximizing the ability to kind of streamline your business and wrapping your business processes around these programs.
[00:02:59] Jason: Cool. Awesome. So you worked for AppFolio, you worked for Yardi as well, correct? Correct. Okay. And in a tech capacity?
[00:03:09] Mohammed: In a tech capacity, yeah. In sales and account management? Correct.
[00:03:13] Jason: Okay. I come from a tech background as well, so. Great. I worked at HP and I worked at Verizon, and so we’re both nerds. Talk nerdy to me, Mo! Let’s go. So what are you noticing in the industry when it comes to software? And, you know, this is a challenge a lot of people are trying to figure out which one to pick when they’re in the startup stage. And then what I also notice– Some try to do it without it– but what I also notice is that nobody ever seems totally happy with their software and they’re always looking over the fence at their neighbor to try and figure out, what are you using? Is this better? And I get people switch more often than they probably should. And then they realize they’re missing something else. So what do you work on with clients and what are you seeing?
[00:04:00] Mohammed: Yeah. You know, great question and you know about like what, 15, 20 years ago, when we think about property management software and the industry as a whole, there weren’t that many players. You had Yardi, this is before AppFolio time, 15, 20 years ago. Yeah. You had some very legacy players that worked with larger commercial operators like an MRI or Skyline. A lot of these on-premise pieces of software have now been kind of gobbled up by larger players or have transformed to be, you know, software as a service or web-based programs. And now, you know, over time now the ability to be able to build new software, the barrier to entry is much lower. You know, modern technology frameworks like using like single page apps and stuff like that are very ubiquitous. And you’re seeing a lot of new entrants and players that are coming into the market. You know, players like Red Vine. That you’re hearing of now. And then also there’s this whole you know, offshoot or like a entire vertical that’s been created now called PropTech. And now you have technology that’s specific for screening and, you know, maintenance management, facilities management, investment management, and you have all these little products that are coming out. And so, you know, one thing that we always you know, implore on our customers is, you know, try to evaluate software from a very objective type of lens. At the end of the day, it is just a tool. And the effectiveness of that tool is in how you use it. Right? If you’re using a hammer, you know, not in a conducive way, then it’s not going to be an effective tool, right? And so there’s a lot of buzz in the market that you hear now, especially with AI and generative ai. There’s a lot of different tools that are in the market, but you know, the fundamentals of what you’re looking to make the software do or hopefully achieve with the software, being able to streamline your rent collections and tenant communication, your vendor communication, you know, we always tell our customers, Hey, put together a checklist of what exactly the objectives are that you’re looking to accomplish with this piece of software. Try to tie that to some business outcome. And that’s kind of the driver of why you’re looking at or evaluating the software and then put together a grading rubric and then, you know, find the software that is effective for your business needs. Don’t give too much credence and how it looks or the aesthetics or what you’re hearing from other folks. Definitely what you’re hearing in the market will help kind of guide the software programs they to take a look at, but you know, we tend to see this as well, a lot of clients are kind of jumping around between different products and are not happy with one product or another. And usually it’s an issue associated with kind of the implementation and kind of the adoption and enablement that they’re giving to their employees with the product.
[00:06:22] Jason: So, going back to your tool analogy, I think my philosophy with software. Initially when I was playing around with stuff in my own business, I was like, I need to find that multi-tool, and I think this is a mistake a lot of people make. I need to find this multi-tool that can do everything. It’s got the hammer, the screwdriver, the pliers, tweezers, knife, like everything in it. That sounds like that would be the best thing. I’ll just find something, does everything, but it does it really badly, right? You don’t see an amazing handyman or you know, vendor or somebody that’s going to do some work, show up with a, just a multi-tool. Like where’s your toolbox? “Oh, I’ve got this guy. This can do everything.” Right? So my philosophy on software over time is definitely shifted to, I want my team members to have the best tools, and if those best tools can do some things really well, then I will find other tools to strap onto that or add into my toolbox. That also do their job really well, and I find I get a better result having the best tools, even if I’m spending more money, than having that multi-tool that can do a whole bunch of things. So what’s your take on this? Are we in alignment or…?
[00:07:34] Mohammed: Yeah. Yeah. Great question. And I completely agree. There’s no such thing as one product that’s going to do everything extremely well, right? There’s going to be some pitfalls in one area that you have to sacrifice for another area. And so, you know, usually when clients are going through these evaluation kind of cycles of looking at software, what we suggest is, “Hey, you know, use this as an opportunity to also do some introspection. Understand what your standard operating procedures are, how you run your business, what is your accounting cycle look like? Who’s involved? How does that process propagate throughout the organization? Same thing with you know, the leasing, the accounting operations when it comes to maintenance and document what that process kind of looks like, and then use that as kind of a guiding post of the functionality you’re looking from the program,” you know, versus going into the evaluation and looking at a bunch of different pieces of software. And usually when, you know, when clients realize like, “Hey, you know, we didn’t realize that this program had a limitation in this aspect,” they didn’t approach it from a manner of understanding kind of what their processes are and then kind of demoing the software or looking at the programs from that lens, if that makes sense.
[00:08:40] Jason: Got it. So what size of companies and what companies typically are coming to you for help, and what do they need help with?
[00:08:49] Mohammed: Great question. So we have a pretty broad range of clients. We have small mom and pop and customers with, you know, 10 or 15 doors on the residential side. And then we have clients, large asset fund managers that are, you know, grappling with 80,000 plus doors across the world. And so, we don’t only focus on residential, commercial, office, industrial, manufactured housing, self storage. The only vertical we don’t touch is senior housing, mainly because of hipaa, kind of healthcare requirements there. Ok, cool. Some of the problems that they do have, one is change management.
[00:09:21] Most of the clients we work with have, you know, CPAs in house, you know, they have staff implementing and properly adopting software is a herculean effort, especially as the organization grows larger and larger. You have your day-to-day responsibilities, challenges, organization, and cleanliness, you know, understanding kind of accounting and software. At the same time, you know, change management and project management and the orchestration of that is probably the biggest challenge that a lot of our clients have. And in general, we’re all creatures of habit, right? So there’s a significant opportunity that cost that comes with kind of managing and implementing a new solution and ushering a change, versus kind of focusing on growth and your portfolio and servicing your owners and your tenants.
[00:10:04] Jason: Now a lot of business owners will get excited about some new tech or some new software, some new thing they’re going to throw into the business, and they go and throw this at their team, and then they get friction and resistance and adoption. Anyone that’s ever been around tech or software knows that trying to get a team to use tech adoption is the number one challenge.
[00:10:25] You’ve already mentioned it twice, right? Adoption’s a big challenge. So, What is the secret to adoption? And I find for me, there’s a couple of factors, but I want to hear what you found really helps with the adoption happening and getting team buy-in and getting team members to actually use this stuff.
[00:10:46] Mohammed: Yeah. Great question. I did a radio show a couple months ago and kind of the three things that we see that are needed in order to have kind of. Effective adoption and enablement with software and just in general, just changes. One is executive sponsorship and so we see a lot of owners of property management, asset management firms, you know, they understand that there is a need for some of your product or, you know, they’re doing a lot of pen and paper using a lot of Excel spreadsheets. They want to use some piece of software. However, they’ll relegate or delegate that to the team that would also be using it. And so, And this team not only has to go through and do their kind of day-to-day activities, but now they also have to go through the process of evaluating different pieces of software or different software products. And they’re giving kind of an artificial budget and the executive or the sponsor is not as involved. Kind of the evaluation process and not giving much weight to, you know, how significant of a change this will be at the end of the day. You know, implementing a new piece of software is very business disruptive. And so, you know, your employees are the folks that are kind of doing this evaluation, feel like they’re on, kind of on their own little island and kind of going through this entire change and evaluation on their own. That’s one is the kind of executive sponsorship. And usually when that executive sponsorship exists and the, you know, the owner and the executives in the business are actually involved during the evaluation cycle this also gives confidence to, you know, the the employees and the folks in your organization that you are serious about this.
[00:12:14] want to make sure that it is successful. I want to see it through. And it incentivizes, you know, extreme ownership. You know, folks want to do less manual work. We want to do less administrivia work, right? And so, and these software programs have that promise. So executive owner sponsorship extreme ownership. And then lastly, and probably most importantly is change management. And this is something that most organizations just struggle with in general. They’re too focused and kind of, siloed into what they’re trying to accomplish, that they’re not looking at kind of the bigger picture and the impact that this change is impacting across the organization. And so that’s why organizations and consultants like us kind of exist. And so executive sponsorship, extreme ownership and change management.
[00:12:58] Jason: Yeah, entrepreneurs like to walk into a room, pull the pin on a grenade that they picked up at a conference. Throw it into the middle of their team and say, “here’s our new thing we’re doing! or “go do this thing!” and the team are like, what the hell? Like, we’ve got plenty of work already to be working on. We’re not excited about this. This does not look fun to us. This is terrifying. You know, how am I going to manage my current work? And and they don’t want to really own it. They, and they don’t want to mess up because they know if they go out there, start researching software and they’re usually not given the right criteria. Right. Like, they’re like, how do we weight the criteria? because they probably are going to be conservative and think just in terms of budget. Whereas the business owner’s probably like, I want the best. And, you know, there isn’t really a good decision making guide related to this and which weighted factors and how they should consider it. Right. And so, You know, if anyone’s ever seen a decision making matrix where you list out all the criteria, right? Like what’s the speed of implementation, how disruptive will this be? How intuitive is the UI or the user interface for the software you know, can we pick it up pretty easily? So, How much training is going to be required? What’s the cost, right? How long is it going to take to implement, right? And then you can weight all the software and figure out, all right, what’s going to look like, what looks like the best one, but which of these criteria is the most important? Which one’s the second most important? So there’s a cool app I like to, I’ve used in the past called Best Decision on the iPhone.
[00:14:29] Okay. And you can put in all your criteria, you can put in your question, you can put in all your options, and it’ll, you can put the weight on these and then it, you can go through and take it like a quiz and put in all your different options and each criteria. And then at the end it’ll say, here’s your best decision. So it’s kind of cool. I don’t know if it exists on Android, but I’ve used that in the past, but a lot of times people just don’t have anything like that and nobody wants to manage the process of implementation. Right. Leaving that on the team shoulder generally doesn’t work because they’re going to just blame everyone else. There isn’t extreme ownership. Right. Which is a great book by the way, right? And then the business owner. Is already delegated, so they’re not really taking ownership. Yeah. I could see how that would be a huge mess. Yeah.
[00:15:14] Mohammed: Yeah. It’s also you know, implementing a software is it has its own nuances and complexities that come with it, right? There’s companies that just focus on that. And quite honestly, if you’re a business owner, property manager, you know, implementing software is not a distinctive differentiator to you from your competition, and so you should be taking on responsibilities and delegating internally for the things that actually make material impact and differentiate your business versus, you know, the accounting or implementing some piece of software, which is something that you and your competition peers have to do anyway.
[00:15:43] Jason: Yeah, I find that we have the best success. So DoorGrow has a suite of software as well in that PropTech category, I guess, and we find that the operator is the person that should be moving this forward and learning it and getting the team doing it. Not the business owner typically. Because the business owner likes the concept. They like the idea of the software, they like the vision of where we could get to and the results, but they don’t want to do the work to implement it. They don’t want to usually learn it fully. And the operator is usually more the personality type that geeks out on that stuff anyway, and would be happy to dig into it, learn it, get it dialed in. Get all the detail in the minutiae en entered into it. Especially when it comes to like process software. It’s like we have this Visio like, or Lucidchart like flowchart software for building out workflows for process that you can build in forms and other stuff. But it’s very visual and that makes it really intuitive and easy for teams to map out their processes and to know where they’re at currently in a workflow if they’re running a process.
[00:16:51] We find that’s a whole level beyond what we used to experience before we had DoorGrow flow in like Process Street. Or some people use Lead Simple, or they use some of these more checklist based tools. You know, and my operator actually is unique. She’s my wife, but she’s a little unique that she doesn’t like technology, like she thinks it’s trying to get her. She’s fighting with her computer all the time. She’s like, what is this? And she asked me to come in. I’m the nerd in the company. And I’m like, oh, it’s like this. She’s like, okay. But she’s like, “see!” Like technology’s out to get me, you know? And so, but she likes using DoorGrow flow. Because it’s visual and she can map. I’m like, what are you doing? It was the weekend. This weekend. I’m like, what are you doing? She’s like, oh, I’m mapping out a process. I’m like, really?
[00:17:36] Mohammed: Yeah, and this is a great example, Jason, that was already a process. You guys had documents, right? You’re using the software to kind of map, you know, digitally the process that you’ve already kind of built. And so that’s, and that’s huge crux also with a lot of folks that are implementing these new products is that, you know, they don’t have that process. They don’t have SOPs, you know, they don’t have controls within the organization and checks, especially when it comes to the accounting. And so they jump into this product and you know, They’re, you know, they fail to have a process and that also tends to make the product just the enablement around it. Very finicky and, you know, there’s a lack of adoption. And then, oh they find another shiny tool and product and that gets ’em excited.
[00:18:15] Jason: Right. I think one thing that also really affects adoption is the timeline in a lot of people’s minds is a lot shorter than reality. And I think my general rule for implementing something new in a business, whether it’s building out one of DoorGrow’s, growth engines, and adding this into your business is it’s going to take minimum 90 days. And usually it’s the first 30 days to just start to install or build this engine or to like get the software just set up. Maybe it’s going to take a second month to now start to do the major changes and tweaks in it, and then the third month, usually it’s just the little tweaks that give you 90% of the results. Like it’s that last 10% of getting something dialed in that gives you 90% of the results. And sometimes the mistake our clients will make, like if they’re just implementing a growth strategy, for example, is they will do some of the work during the first 30 days. Not fully build that engine, and then they try and dump a little fuel into it and they’re like, this thing is leaky as hell and it’s not getting any results and it’s not working, and they didn’t do the work to get it dialed in. And this happens in your sales process. This happens in just about anything. It’s that last 10% of dialing in the little tweaks and the little changes that finally gets you to getting 90% of the benefit and the results.
[00:19:40] Mohammed: Right. No, of course. And then there’s also that notion of implementation fatigue, right? It’s like the longer that kind of this implementation cycle kind of drags out kind of diminishing returns.
[00:19:51] Jason: Oh, totally true. They just burnt out on it. And the business owners getting fed up and it’s just because they didn’t probably have a decent plan, but they’re like, they’re giving up. And then you hear, like I hear a ton of clients say, Hey, we really like property meld like this cool tool that really has helped us dial in our maintenance and speed things up. And then I hear some say we tried it for like the first month and it was a nightmare and we quit. And I’m like, really? Because I hear amazing feedback most of the time. They’re like, oh yeah, it was awful. I’m like, okay, so.
[00:20:25] Mohammed: Fail the plan or plan to fail. Right?
[00:20:27] Jason: Yeah. So interesting. So, well, what else would you like to chat about the power of innovative software solutions that we haven’t covered yet?
[00:20:38] Mohammed: Yeah, so, you know, a lot of times when we’re talking to clients or prospects that are implementing a new piece. One thing that I did want to kind of double click on is the the point that you mentioned about kind of the timeframe it takes to implement a new piece of software. It’s also the toll and the investment, right? The time investment. You know, there’s an opportunity cost between hiring experts to do something versus, you know, DIY or doing it yourself. And so I feel like there’s also a chasm and kind of a gap between kind of ownership’s understanding of just like, Hey, this new product is just data entry. I can use my VA or folks that I have in the Philippines, or you know, some of my other employees that just enter this data and then all of a sudden this product is going to be working well. Yeah. I’m curious when you’re talking to clients and they’re saying, Hey, you know, this piece of product didn’t work well for us, do you usually kind of dig a little bit deeper? I’m usually try to ask a lot of follow up questions, quantify like where exactly things did not go right.
[00:21:34] And and I tend to get a lot of answers of, you know what, I don’t know. That’s a good question.
[00:21:37] Jason: So when things don’t go well, it’s usually excuses. They’re like, well, we couldn’t get vendors to use it, like if they’re talking about Property Meld. But really like, did you tell them if they want to work with you, they have to use it? And did you sell them on the benefits of how it’s going to collapse time for them? And they’ll be able to just use their phone to do this and it’ll make everything easier. Right. So I think one of the challenges is if you go into implementing a software, switching to a software, but you don’t yet believe in it, then you’re going to sabotage your results with it. And that means they’re not fully sold on it. And I think when it comes to technology, First, the person that’s the decision maker has to be sold on the technology. They have to believe in it if they’re really going to move forward. Otherwise, they should not move forward with it. And then once they believe in it, they have to transfer that belief to their team. They have to convince the team to believe in it, because if they can’t sell the team on doing it, but they’re going to expect the team to implement it, it’s going to be met with disastrous results. And I think that’s our role as an entrepreneur. We have to continually be selling our team. On what we’re doing, and then we can sell to potential clients on what our business is doing. But we have to always be selling our team. And the way that we do that internally, one of our software or one of our tech tools is a planning software called DoorGrow OS for Operations. One of the flaws or fundamental flaws I see in planning like with EOS or Traction or these sort of things is it’s very top down. It’s like I’m in charge and it over inflates the importance of the visionary in the accountability org chart. Like the visionary is like this amazing God who the only person who has all the ideas in the business. Which is really flawed thinking. If you have even a decent team, really flawed thinking, that means you’re the emperor with no clothes. Everybody’s like, yeah, you have the best ideas. Sure boss, you know, and you’re missing out on a lot of good stuff. And then they, the below that person, they put the integrator and then below the integrator in the org chart, they put everyone else on the team, right? The rest of the executive team. This is so fundamentally flawed. I think it’s ridiculous, but. It really inflates the importance of it inflates the ego of the visionary looking at this, well, yeah, I am pretty important. And then it over inflates the importance of the integrator, which really probably should be called an operator, but the integrator. And that’s what the EOS company sells.
[00:24:09] They sell integrators. These are their coaches that help with the implementation of this flawed system. And it over inflates the importance of this integrator so they can sell integrators, right? I believe that’s a very top-down system, and I think it’s super important to have a bottom up planning system with your team to where the team you’re getting their ideas first on each of the major areas of dysfunction or constraint in the business, and then the visionary is the last to speak.
[00:24:37] An operator is probably second to last to speak so that they don’t mess everything up and temper it and become the emperor/empress with no clothes, where everybody’s like, yeah what he said, I just want to keep my job and please this person. So what he or she said, right? So, so I think with I think it starts with having how you plan as a business and the planning and cadence is the communication system in the business. For effective communication and rolling out software or implementing new things, there needs to be a really solid plan, but the team need to be coming to these conclusions. The team needs to be saying, Hey, we could use a better software. And you can inject those ideas as a visionary, like, Hey, I did see this. There is a problem here. Let’s brainstorm and the team come up with ideas.
[00:25:23] The visionary might say, Hey, you’re missing another idea. There’s this that could do this. And the team might be like, oh, okay. Right. We should get that Property Meld software or whatever, right? So you got to get the team’s buy-in. And I think that happens through really good planning, right? And a lot of teams, that’s one of the most fundamental systems I think a business should have, is a really good planning system where they have annual goals broken down into 90 day, you know, quarterly goals, broken down into their 30 day or monthly goals, broken down into weekly commitments. And this is strategic stuff to move the business forward. So they have a strategic plan, not just their daily tactical work. And the challenge, most businesses, everything’s tactical, and then the boss comes and throws some strategic grenade into the middle of the room and says, Hey, start doing this thing. And the team didn’t plan this together. They didn’t buy in into this, they didn’t see the problem together, and they didn’t brainstorm together. And so there’s no buy-in and it’s very top-down. I think that’s where the mistakes really start to happen, so.
[00:26:22] Mohammed: You hit the nail on the head there, Jason. It’s it’s funny you know, that even the way that software today is evaluated has changed also. Right? You know, traditionally, you know, a couple decades ago when you had a lot of on-premise type of software like Cap X, software investments versus, you know, SAAS subscriptions where you’re actually paying a monthly maintenance fee, right?
[00:26:41] Jason: You had to have a server and then you had to have a tech guy maintaining the server and there was some nerd that understood it and they had, like, you were like, you had to pay them whatever you had to pay them because this was, your whole business was running off this.
[00:26:52] Mohammed: Yeah. Right. Now you can just get something off the shelf and get it implemented very quickly. But one key thing that I do want to highlight of what you said is that, you know, you need to elevate the voices of the folks that are closest to the problem. So it has to be kind of that bottom up type of grassroots type of investment and type of focus. Because those are the folks that have the most to gain from being able to solve for those problems. And they’ll feel, you know, when there are a lot of initiatives or objectives that kind of come from top down. Similar to what you were saying kind of about the eos, is that folks see it as kind of a task that are being delegated to do this work versus, you know, being incentivized and taking ownership of like, Hey, you know what, this is my domain. This is going to make my life easier in x, y, and Z way. And you know, and then I think the goals are very important.
[00:27:37] I’m sure you’ve heard of kind of smart goals specific, measurable, achievable, relevant, and time based. And putting that into, you know, weekly, 30 days, 90 days, and kind of, and going through that type of approach and kind of any type of endeavor or change or kind of trying to turn things around. Most of the clients that we speak with are just folks that we see that fail with when it comes to implementations. It’s usually, you know, a lack of ownership and a lot of kind of top-down initiatives that are kind of broad, the organization and then, you know, kind of a lack of a, you know, sponsorship.
[00:28:04] Jason: Also, you know, there’s some entrepreneurs listening to this right now. I guarantee it. It might be you, whoever’s listening that are thinking, this is total bs this can’t work because the, you know, doing something that’s bottom up. Because fundamentally, even before having a really good planning system for the team and communication system, if you could do this and have it be bottom up, they’re like, it has to be top down because my team are idiots. Like, they don’t believe in their team. And that’s because there’s a lot of bosses that have built the wrong team, and it’s because they’re showing up as the wrong person already in the business, which means they’re wearing hats right now. If you’re listening and you’re wearing hats right now that you do not enjoy, several hats you don’t enjoy, maybe you don’t enjoy sales or maybe you don’t enjoy accounting or whatever it is, or the team members that do are doing these things, you are all always talking with them about how to do it, which means your org chart really just has you in parentheses, next to every person in the org chart, right? So that means that you are the wrong person. You’re showing up doing the wrong things in the business, and you’ve built a team around the wrong person. It’s like having a fake puzzle piece. Instead of the right puzzle piece. It’s you, and then you build puzzle pieces all around that. And so now you have the wrong team. And so you have the wrong team if you are constantly frustrated in your mind saying, why won’t my team just think for themselves? The problem is you. It’s because you as a business owner, Are holding onto too many things and not letting go.
[00:29:37] And it’s because you have built a team of people that you don’t trust or you built a team of people that the business needed, but you didn’t build the team that you needed in order to have more peace and more certainty and more freedom and fulfillment in your business. And so you built this monstrous business around the business and it’s taken over like this armchair tyrant, this highchair tyrant. This highchair tyrant that’s thrown food and saying, I want more. And you just keep giving it to the business and you should be in charge of this business. And that means that you should be setting really good culture. And that means you should be attracting team members and only hiring team members that believe what you believe in, share your views so that you can actually trust them. And so a lot of the reason why top-down systems are so necessary, even though they’re bad ideas because they don’t have a team they trust. So even going back before, like before technology, before planning, they need a team they actually trust, which means they need to be super clear on what their values are, their culture, and only hire based on that so that they can actually trust their team members. And if you hire good team members that you like culture-wise and they’re the right personality fits for those roles when you weren’t? They will be better at those things than you.
[00:30:53] That’s the humbling thing I want every entrepreneur to eventually experience, because it’s pretty powerful because we think we’re pretty hot stuff in the beginning. We start to build a team, they come to us with all their questions. We’re like, man, I know everything. It’s so good to be king. And then the humbling experience every business owner needs to have is when they start to hire people that are better at the things they used to do that they’ve let go of. And they know like they’re exceeding your ability to perform in those areas. Like I used to design logos. My logo designers are better at designing logos than me. Right. As an example, and then you can really start to trust that team and you can trust them. Like my operator’s a better operator than me.
[00:31:32] I was terrible at running the planning meetings. I just wanted to get them over with, I didn’t want to do it right. And now she tells me,” you’re last to speak. Like don’t talk.” And I’m like, “okay.” because she runs it, she’s in charge and she makes it way better. And it’s a lot faster than I would and more efficient than how I would do it.
[00:31:50] Mohammed: Yeah, think that creating that crux of dependency is definitely going to stifle growth and scalability, right? And so, it’s interesting that you mentioned, a lot of listeners or folks that are probably listening to this, and we hear this as well, is that they don’t trust their teams. There’s some introspection and it needs to be done there. If you’ve hired the right people for the right roles. You know, there’s there’s this notion, you know, Google’s considered one of the most like, you know, effective organizations in the world and when, and they do a lot of research on on team dynamics and they have this notion of of psychological safety, which is basically how folks under understand like the own you know, ramifications of being able to take risk within an organization. And so you need to enable your folks and have the right folks in the right roles and be okay with people that have failed, but you want them to be bold. This is what helps kind of move the organization forward and helps you evolve as a business and scale and grow and you know, creating that dependency crux or creating yourself and creating that friction where you are a bottleneck and how things move and change within the organization. It creates not only a challenging environment to be able to like actually grow and evolve, but then it also erodes morality within your staff as well. And eventually you’ll push out the high performers.
[00:33:01] Jason: Yeah, I think you know, A players love to be recognized and they love to be seen and B players love to hide and to not be noticed. Their secret goal is to make as much money as possible and do as little as possible. And A players, they don’t just give you their time, they give you their discretionary time. Like they’re thinking about you in the shower, they’re thinking about your business and how to improve in their role when they’re like on their walk, you know, on the weekend, right? Because they’re believers and they want to win. And so I think a lot of entrepreneurs out there listening to this, they might be thinking, I need more KPIs. I need more micromanaging. I need more metrics. I need more profits, so I need to squeeze more blood from these team members. They’re not giving enough, and that probably just means you have the wrong team.
[00:33:51] It’s surprising how little KPIs and metrics and accountability is needed when you have A players on your team and you just build in a simple accountability system like DoorGrow os, or some sort of planning system in which they are working towards objectives instead of just being given transactional leadership where it’s a transaction. “Do this task and I’ll pay you, right?” Transformational leadership is where you give them an outcome and a timeline, like a deadline and say, by the end of the month we want to achieve this goal towards our quarterly goal, which is in two months, you know, or whatever. You can have these things defined and what happens is these team members start to function like intrapreneurs.
[00:34:31] They start to innovate, think, move things forward, and then implementing things like technology and software is just going to help them get towards these goals that they’re working towards. It’s not something preventing them from their day-to-day work. Instead, because if you don’t, if they don’t have strategic goals, they’re just going to focus on the tactical work they have. And strategic growth in the business should be at priority over the daily tactical tasks. And if team members can see that and they have strategic goals, they’re responsible for by the end of the month, they will focus on that and get their tactical work done. And the business then innovates and moves forward. And it’s a really amazing, like beautiful thing to see happen. Well, this is a fun conversation. It sounds like there’s a lot of people out there, I’m sure you’ve worked with quite a few that really could use some help understanding how to get their technology stuff dialed in, knowing what tools exist out there that can solve this you know, what can you help them with and how do people get in touch with you?
[00:35:35] Mohammed: Yeah, good question. So we offer a pretty wide range of services, whether it’s, you know, tax help, bookkeeping, accounting, implementing software, custom reporting, creating SOPs, and even just auditing business processes. And then if you ever do get audited by the boogeyman, they call Department of Real Estate. We also do Dre representations as well. You can reach us at http://www.balancedassetsolutions.com. You’re welcome to also email me directly at email@example.com.
[00:36:05] Jason: Balanced asset solutions– plural– solutions.com. Yes. Okay, got it. All right. Cool. Mo, thanks for coming on the show.
[00:36:14] Appreciate you being with us.
[00:36:15] Mohammed: Pleasure to be here. Thank you so much, Jason. Take care.
[00:36:18] Jason: All right, so check out Mo and his business if you need some support. Coming to this conversation, I didn’t even know what he did, so this was really interesting for me. My team sets up these interviews and sounds like a really cool thing to get that support and technology implementation. If any of you’ve gone through it, you know, this is a painful process, so make sure you get some help. So, for those of you watching the show, if any of these things resonated that you’re struggling with your team, you’re struggling with getting, you know, more profitability in your business, make sure to reach out to DoorGrow. We can help you do those things in addition to helping you add doors, but more importantly we can help you make your business scalable. A lot of you aren’t adding doors right now because you know how, but because. You know, if you add more doors, your life personally will get worse as a business owner.
[00:37:10] And if that’s the case, you do not yet have a scalable business. So you need a really good process system. You need a really good people system, and you need a really good planning system. And if you have those three things, you can, you’re infinitely scalable. You can scale quickly, you can add any number of doors, and that freedom and that safety and that ability to just add doors and know that your business can handle the growth means you can now go even eat other companies, start to acquire businesses in the property management space, you can start buying up your neighbors. We want to help you do all of this stuff and scale. There’s no reason why you can’t be probably in the next two to five years, a thousand door business, crushing it and we can help you get there. We’ve got the roadmap, we’ve got the tools, we have some tech.
[00:38:00] We can help you move forward on this. So reach out to DoorGrow. Check us out at doorgrow.com. And if you’re wanting to get into an awesome free community, you waste a little bit of time on Facebook, you might as well be wasting that time in a way that’s not wasting time. Like go to DoorGrowClub.com and you can get access to our free Facebook group. It’s for property management, business owners, entrepreneurs. Get access to our free Facebook group by going to DoorGrowClub.com. We have some cool tools and free gifts that you get. As you join the group, make sure to answer the questions and if you plug in your email address in your phone, we will reach out to you and give you some free stuff that’s going to help you grow and improve your business. And you will have a resource in which you can ask questions to other property management entrepreneurs get some really good ideas and it’s an awesome community. And it’s growing rapidly, right? It’s growing rapidly. So make sure you get into the DoorGrow Club. Go to DoorGrowClub.com and that’s it for today. Until next time, to our mutual growth. Bye everyone.
[00:39:01] Jason Hull: 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!
[00:39:28] 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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