Notes

Property Management Owner's Dilemma: Get Bigger, Stay the Same, or Sell Out?
"There are only two directions; you're either growing or you're dying. There ain't no third direction." (Tommy Callaghan, Sr. in "Tommy Boy")
Business is really a funny thing; you are never able to be satisfied. If you take up a company, grow it, and initiate to cashflow it, then that's good, right? Isn't that the idea? I thought it was, no less than.
However, it genuinely isn't in case you browse the news, view television, or attend any business conferences. The things that people wish to discuss are:


What will be the growth figures in terms of revenue? Projected over to 2015?

Is your social networking and digital strategy sound? Have you made enough time and financial investments?

Have you seriously considered geographical expansion? Franchise? Office openings?
And so on and on. There apparently isn' carlton property management allowed! If you sit pat, you're going to fail. You must take the stars of worldwide domination! The purpose of making money is to reinvest it! Get on it! Get bigger! Now!
So rapid growth is left as the only option, if you don't want to be considered a "burned-out" property manager. If you choose to pursue slower, organic growth, you will be called "uninspired", a "non-visionary", and lazy. No one writes articles on entrepreneurs who stay the course! Those stories got chopped out early in the editing room. But despite many loud naysayers to the contrary, staying a similar is certainly an incredibly viable option. It's just the "keeping on, keeping on" strategy. Nothing is wrong with that!
But what about if you actually are "uninspired" now? You are burned out! You are a property management company owner (or realtor) who doesn't want to deal with the organization anymore. You are looking to emerge and then sell out. How would you do that?
You could hire a business broker to locate somebody who really wants to add property management to their real-estate brokerage company, or maybe wants to own a stand-alone property management company. These instances are pretty rare along with the business broker would truly be earning their funds should they found somebody that will get your smaller firm (under $1M in revenues)!
What is more likely is that you would sell your management accounts to another property management firm. For example, I received a letter yesterday from in the largest property managers in town; this letter was undoubtedly shipped to every property management company in the region. The letter motivated to buy inside the property management accounts there was.
In mergers & acquisitions speak, these were utilizing a typical roll-up technique of buying up every smaller company in the area to accelerate their growth. They had no interest in our systems or procedures; they merely desired to throw our management clients into their management machine. This would be an easy means for them to grow rapidly. It also has to be quick method for "uninspired" property managers to emerge from the business and earn some quick money off their company. A true win-win? Possibly!
To grow, stay, or go- it's really a personal decision that mustn't be the consequence of other's expectations. There are options available it doesn't matter what your company's method is!
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