How To Double Your Property Management Business Growth in Less Than a Year

If doubling your business growth in less than a year sounds unrealistic, then you haven't met Jock McNeill. What's his secret? Three letters: B-D-M. Hiring a Business Development Manager (BDM) can seriously impact your business, which Jock McNeill of Alliance Property Management learned at the 2017 PM Grow Summit. He recently made this comment:
"By the way, since hiring a BDM, we’ve doubled the
amount of new business we bring in every month."
He said by the way. Like it’s no big deal. Like this is some random thing he neglected to mention.
We know a lot of property managers who struggle with business growth. So we decided to dig deep into what led to Jock's success and share some insights he learned from the 2017 PM Grow Summit.
In our latest Property Management Show podcast, Jock shares his sales process transformation. He’ll tell you:
1.) What he did first (hint: it may or may not involve a spiral notebook).
2.) What he did next to improve his sales process.
3.) And, finally, what happened when he got on board the BDM train.
By the way, did you know that Jock doesn’t do leases?
That's right -- NO LEASES. It may sound crazy, but you'll have to listen to the podcast to understand the brilliance in his strategy.
To read about this podcast episode, go to: fourandhalf.co...
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[@TheMeganshaul]

Can you point me to a video that speaks to people just starting out with very little properties and revenue? Or maybe books, other pod casters. I've been listening to yours for a few weeks and enjoy them however the suggestions are mostly things I can not do at this time.

[@ThePropertyManagementShow]

Hi Megan, we have a specific section for starting property management business on our Fourandhalf.com strategy blog: fourandhalf.com/start-property-management-company-blog-posts/

[@sandywexler5282]

What is the relationship between the CAC and ACV? They mentioned the CAC would be $833.33 where as the ACV is $2,000.

[@ThePropertyManagementShow]

Customer Acquisition Costs (CAC) is the amount of money you spend to acquire a customer, while Annual Contract Value (ACV) is the amount of revenue that the customer generates in 1 year. So in the example that was discussed in the podcast, the "investment" or the cost to gain a single customer was $833.33, and the ROI of that investment is $2,000 over a single year. That's a pretty great ROI. And that's not even considering the fact that the average owner stays with their property management company for about 3-4 years. $2,000 x 4 = $8,000 -- So he was essentially spending $833.33 to acquire an owner and that owner gives $8,000 in revenue back over the course of 4 years. I hope this helps!

[@user-ju6me2bw3d]

Music at the intro is way way to much, can't even head the intro talking

[@ThePropertyManagementShow]

Thanks for the feedback, and we do apologize for that. You may have noticed that this podcast episode is from 6 years ago. We have corrected this issue in our more recent podcast episodes. You can subscribe to our channel to make sure you don't miss out on our latest episodes - www.youtube.com/@ThePropertyManagementShow