In 2009, when people were fleeing the property management, Cassandra Exantus and her husband decided they wanted to get involved. Cassandra shares knowledge from their institutional investing to help you run your business portfolio like a fund manager would.
The aftermath of working with institutional investors created employees that have a high skill set that can deal with numbers and are familiar with the reports and standards that investors expect.
- Reporting KPIs
This is the report card. People will do what you measure. So you want to Identify where you are strong in your company and how you measure your success.
Make sure your team understands what is expected. They don’t have moving target but a clear goal.
In order to make sure the team understands, Cassandra created vital signs that is their report card for monthly goals.
I might look healthy but if you look under the hood – how is everything.
As you look at the number on a monthly basis – you can see what the monthly goals should be and you won’t dictate the number – they report to you how well they are meeting the numbers. That allows you to see who needs more health.
- Staff Accountability
How do you have a self-managed team?
- Establish a mission and a vision.
- Empower the staff to make decisions and take responsibility.
- Do they know your Core Values?
Create a culture based on these values and touch base with your team frequently:
- Do quarterly team builders:
Rewards and recognition make them feel good for doing the day to day and shows you appreciate what they do for you.
- Monthly vital signs meetings:
They are presenting to you the health of their business. Property managers are stack ranked. No one wants to be on the bottom so this helps create friendly competition. You can see who the heavy hitters are and what is putting them at the top of the pile.
- Yearly SWOT analysis.
You have to look at your business and get down to the nitty gritty. Ground rules are: everyone needs to participate and give constructive feedback
Brilliant part is you aren’t coming up with all the answers. You have a team of minds that are going to help come up with the solutions.
- Staff Compensation
- Compensate based on what drives the KPIs
You want to compensate based on the activities you want your team to be doing every month, day, week.
- Compensate equitably vs. equally
You are going to pay for performance
- Transactional, percentage or both.
- Operational Efficiency
Identify your pain points of the business, use the information you collected from the SWOT and analysis from your business. This will help you figure out what is/isn’t working and help you come up with a plan to get things running smoothly.
- Do you have the right talent?
- You want to place individuals on the right seat on the bus.
- Divide the work and delegate.
- Make sure you are cross training your departments. Then you have a plug and play system.
You can then scale up or scale back when needed.
- Creating and consistently reporting on KPI’s is critical
You need to be looking at these monthly!
- Developing a system that can be scaled up and scaled down based on needs
- Separate the hunters from the pack and hire farmers to maintain the base
If you can hunt, you can eat at the table.
- Timing is everything when hiring and firing
- Not all opportunities are worth pursuing
Remember why you are in the business and be willing to turn down business for that reason
- Everyone on your team should be cultivated to be a leader
Receptionist sells, bookkeeper sells, everyone sells. This is the building block for a successful exit strategy!
About Cassandra Exantus:
Cassandra is a wife, mother, entrepreneur, and broker of three real estate offices and one half of the business strategy consultancy Critical Path. She prides herself in finding balance in all of these roles. Her life mantra is: “You have to fall in love with the process of being great.”
Cassandra oversees the operations of two successful real estate offices, manages a team of 22 employees who oversee more than $200 million in real estate assets. She has 15 years of combined real estate and customer service experience.
Cassandra attributes her vast knowledge to her experience with two to U.S. residential property developers. She is an award-winning top sales consultant, generating more than$30 million dollars in sales. She was an independent agent for three leading real estate companies, and was an assistant community director for a national leader in high quality, customer-focused property management of five multi-family and single family affordable rental housing communities.
She is also a member of Orlando Regional Realtor Association ORRA, GFLR Greater Ft. Lauderdale Realtors Association, NARPM, and NAR.
Cassandra has a heart for the entrepreneur and wants to spark the creative voice of business owners and corporate managers. Cassandra believes whole heartedly that there is a leader inside all of us. She is passionate about helping people tap into their inner leadership potential by using the faith-it-to-make-it philosophy. Cassandra is committed to assisting people find their voice as a leader, discover their own business style, and find business solutions they can implement in their business.