After 7 years I've exited ProfitCoach. Why did I exit? One word: Focus. Long term concentrated focus on a singular goal at the exclusion of all else. In practice this looks like saying no to fantastic opportunities I both believe in AND want to do. If it's not excruciating to say no to - you're not really focused.
"The difference between successful people and really successful people is that really successful people say no to almost everything." – Warren Buffett. Not only did I like my partners at ProfitCoach, I like the market, the problem area and deeply believe in the future direction of the company. ProfitCoach is and will continue to be a success... and I sold it. Painful. Yet I am clear this was 100% the right decision. My role as CEO at LeadSimple is requiring everything I have to give and then some. We're growing 80% per year and have added +50 team members in the last 24 mo. I'm responsible to my team as well as the clients that have come onboard as investors in LeadSimple. Half measures won't cut it which is why I'm now exclusively focused on building the backbone of property management operations here at LeadSimple. Here's my question to you... What's your #1 priority? Your most important endeavor. The thing you know will pay off if done with excellence. The project you're willing to grind on for the next decade (there are no shortcuts). What would happen if you gave it 100% of your focus? Are you expecting greatness from partial efforts? Burn the boats. Go all in. LIVE. "“The reasonable man adapts himself to the world: the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.”" - George Bernard Shaw - JAAM P.S. - Turning Pro: The Difference Between Amateurs and Professionals 🔥 P.S.S. - Extreme brainstorming questions to trigger new, better ideas 🤯 P.S.S.S. - In case it was unclear > Lack of Housing Supply Is Largely Responsible for High Home Prices and Rents - Study from the Urban Institute P.S.S.S.S. - Practical AI > Turn low res images into high res, regardless of quality 📸 P.S.S.S.S.S - Career Development: What It Really Means to be a Manager, Director, or VP > Title inflation is lethal and forces people out when you try to correct it. Industry news and updates:
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SaaS 🏴☠️ | Property Management Fanatic 💙 | I write a bi-weekly newsletter to 4k PMs talking people, process and profit.
The PAS (Property Accounting Software) market is at an inflection point. A small number of companies control the majority of the market. This control is used to exert leverage. Examples: Restricting customers from accessing their own data via API Charging customers exorbitant fees to access their own data via API Blocking vendors from integrating with their customers Taxing other vendors for the privilege of integrating with them What is the net effect of all of this? Customers have fewer...
How big is the self-managing segment of the SFR market? What would it take for them to hire a property manager? What are their key challenges and biggest fears? I want answers. TLDR: I'm gearing up for a large scale survey of landlords with the perfect partner in crime > Peter Lohmann. I'll have more details to share in the future but for now I have one very important question for you - if you could ask a large population of landlords one question what would it be? Your feedback here means a...
There was a moment where our industry was star struck by the outside capital pouring in to fund VC-Backed property management companies. Now those companies are going under one by one. Yesterday the most well funded player in the category announced it was acquired by RoofStock. Mynd raised over $200M at close to a billion dollar valuation. Their thesis was pure play tech augmented by people: Mynd’s tech product is complemented by “boots on the ground” people in local markets, improving the...