If you want to build systems in order to scale your property management business, you need know about systems thinking.
What is Systems Thinking?
Systems thinking means that individuals alone aren’t responsible for the results produced. It’s the people plus processes plus systems that drive results. A system includes:
Your Leasing Team
Let’s look at leasing, and let’s suppose you have 10 leasing agents. Some prospects that call your leasing office have a great experience and others don’t. The quality of the experience depends on which leasing agent they spoke with.
Once you embrace systems thinking in your property management business, you will not be saying “I have some good leasing agents and I have some mediocre leasing agents”. Instead, you will be saying “We have too much variation within our leasing processes, and the variation needs to be eliminated by better processes, better training on the technology, better incentives and coaching.
How to Start Embracing Systems Thinking in Property Management
Next time you find yourself getting upset by the actions of one of your employees, slow down. Don’t reprimand. Don’t nag.
Instead, ask yourself, has this person received the right training? Are the processes clearly defined? Has this person been getting regular feedback on their performance? The finger probably needs to point the company’s leadership.
What Systems Thinking Looks Like
There is nothing mysterious about systems thinking. As you embrace systems thinking, you will find yourself running your property management business with these artifacts:
- Business Strategy
- Standard Operating Procedures
- Customer Feedback
- Employee Development
- Continuous Improvement Mindset
- Metrics and Feedback
Building a Scalable Property Management Business
All of these components listed above are needed for becoming consistently good at running your business.
Without systems thinking, it is going to be impossible for you to build a scalable property management business. It’s hard work, but most importantly, it is a change in mind-set. If you don’t want your property management business to plateau, you will need to embrace systems thinking. Hiring more people isn’t the long-term answer.
One way to get started is by asking “what will it take to provide an excellent experience to my customers?”