operational business plan
Have you ‘hit the wall’ when it comes to the growth of your property management business? Are you suddenly losing managements, clients and team instead of gaining or retaining them? This is usually caused by not having the correct growth plan in place for your business.
While many business owners have a financial plan, many do not have an ‘operational’ business plan in place. Having an operational business plan is what you need to ensure the growth, success and stability of your property management business.
An operational business plan is your blue-print (or, as we like to say, your purple-print) that assists with understanding your business’ DNA, how you can protect it and, as a result, build your business by design, not by default.
Your operational business plan takes into consideration your business vision and goals for growth. Once your iiCC knows your short and long-term plans, they create your operational business plan with your immediate market potential in mind. This plan is based on market rental averages within your defined market area. Therefore, growth is planned around income, not management numbers.
Your operational business plan includes a:
- Growth Matrix – details when extra team members should be planned for and recruited to assist with retention of business and protection of your brand
- 12-month Growth Forecast
- 5-year long-range Growth Forecast, including the potential income the agency could generate