PLAN­NING FOR SUC­CESS

IMAG­INE YOU’RE AT A DIN­NER PARTY in 12 months’ time and some­one asks you to ex­plain your busi­ness to them. What will you say? Is that ex­pla­na­tion any dif­fer­ent to what you would say if they asked you to­day?

Elite Property Manager - - Contents - Alis­ter Maple-Brown

WHAT ARE the dif­fer­ences be­tween your busi­ness now and where you want to be in 12 months? And how did you get there? These sim­ple ques­tions can help you to iden­tify your goals, clearly and con­cisely, for the com­ing year.

In or­der to achieve your goals it is im­por­tant you have a re­al­is­tic and mea­sur­able plan in place. To cre­ate this plan, seg­ment your busi­ness into key de­vel­op­ment ar­eas and al­lo­cate mea­sure­able KPIs for each quar­ter of the year. Im­ple­ment­ing a struc­ture like this al­lows you to mea­sure the course of im­prove­ment and busi­ness de­vel­op­ment over the com­ing year.

Let’s look at some of these key ar­eas.

FI­NAN­CIAL GOALS

Busi­nesses cre­ate fi­nan­cial tar­gets for the year, but of­ten ne­glect to in­clude a plan of how they will reach these goals. With­out a tac­ti­cal ap­proach you are likely to pro­ceed with busi­ness as usual, which will not pro­duce the fi­nan­cial goals you de­sire.

If you are look­ing to in­crease your rev­enue over the course of the com­ing year, find ad­di­tional rev­enue streams for your busi­ness. This could in­clude hir­ing another prop­erty man­ager to in­crease your prop­erty port­fo­lio, or ap­point­ing a ded­i­cated busi­ness de­vel­op­ment man­ager. Con­sider how these dif­fer­ent rev­enue streams con­trib­ute to your over­all goal.

CUS­TOMER SER­VICE GOALS

Qual­ity cus­tomer ser­vice is a sim­ple yet proven method to im­prove your busi­ness pro­file and your rev­enue. What dif­fer­en­ti­ates your busi­ness’s cus­tomer ser­vice of­fer­ing from that of your com­peti­tors? In­creas­ing your cus­tomer com­mu­ni­ca­tions or us­ing online owner and ten­ant por­tals could set you apart from the com­pe­ti­tion.

PROCESS GOALS

All prop­erty man­age­ment busi­nesses have a wide range of pro­cesses, but are yours the most ef­fec­tive method for com­plet­ing your work­load? Con­tin­u­ally re­view­ing and im­prov­ing your pro­cesses will en­sure you are work­ing in the most ef­fi­cient way pos­si­ble. Process goals can also in­clude the im­ple­men­ta­tion of tech­nol­ogy, to au­to­mate your man­ual tasks and re­duce the time spent on each job.

STAFF LEARN­ING AND DE­VEL­OP­MENT GOALS

Your staff are the foun­da­tion of your busi­ness, so it’s im­por­tant you in­vest in their per­sonal and pro­fes­sional growth. Im­ple­ment­ing a train­ing pro­gram will help up­skill each in­di­vid­ual, which in turn aids your busi­ness’s pro­gres­sion and per­for­mance.

These ar­eas are a great start­ing point for your yearly busi­ness plan. Once you have iden­ti­fied these, start to plan for the long term as well. Where would you like to be in three or five years? Im­ple­ment­ing, ac­tion­ing and mea­sur­ing your yearly strate­gic plan can help pave the way for your long-term busi­ness suc­cess.

BUSI­NESSES CRE­ATE FI­NAN­CIAL TAR­GETS FOR THE YEAR, BUT OF­TEN NE­GLECT TO IN­CLUDE A PLAN OF HOW THEY WILL REACH THESE GOALS.

ALIS­TER MAPLE-BROWN is the CEO of lead­ing prop­erty man­age­ment soft­ware provider Rock­end. For more in­for­ma­tion visit rock­end.com.au.

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