Case StudyReady! Set! Go!
A Husband-and-Wife Team
Taking Proactive Measures to Ensure Smooth Small Business Development
Company Size: 2-10
A husband and wife team had successfully but a three-house property management company, and we’re looking to grow. They knew opportunities were everywhere, but they also knew that growing from a family business into a major player required careful planning. They wanted to be sure that their company had the small business development systems and procedures in place to handle the increase in business. They asked for our experience to identify areas where they could face challenges in the future, allowing them to prepare for those challenges now.
The Challenge and Approach
For us, this company was like starting with a blank slate. There were no formal procedures in place, nor templates, software or systems that could manage the business they wanted to grow into. We started with a short brainstorming session to identify the key areas they needed to focus
Working through each component, we developed checklists, an SOP and management documents to cover the future administration, accounting, operations, and general business processes of the organization. We examined how paperwork would best move between departments, and researched the time and cost savings of using web-based platforms to improve workflow. We investigated the best options for document retention as well as the best lease administration/accounting software based on the organization’s objectives. We provided a detailed monthly owner package, including financial statements, and called in Preferred Partners to help in web-development and marketing strategies, including branding and pinchbecks.
When the final decisions were made, all templates approved, and multiple subscriptions set up, detailed instructions were written on how to use these systems. Account representatives for each piece of software were retained to train new hires as needed. A brief overview tutorial was produced to ensure all requirements were met.
The family business increased its business by 47% in their first year. They successfully hired additional staff and the owners are able to continue prospecting for new properties, secure in the knowledge that a framework is in place in their company to take on any new properties that come online. Our team reviews the processes every quarter to ensure new challenges have not arisen that need to be accounted for.
Number of Templates Created
Number of Online Subscriptions
Time Saved per Week on automated Workflow per Person
“This was an invaluable investment in understanding how important it is to know what we don’t know!”
– Shane W. Owner