Business ‘by design’ means planning every tangible and intangible area of your property management business so all elements are working towards realising your vision and achieving long-term success. Jo-Anne Oliveri explains. If you want to build a property management business by design, follow these seven steps.
First, you must get clear on your property management business by design vision. To do this, look within and consider: How will your business be different to other property management agencies? What will it look and feel like? Which resources are required? When do you want to make your vision a reality? Writing down your vision helps you work out what you need to achieve it.
When building your property management business by design, research is an important step. Understanding your market area and its existing competitors allows you to identify opportunities and threats you could capitalise on. It also uncovers gaps in your market that your business could potentially fill with a differentiated competitive advantage. As such, the research findings help you make strategic decisions about your business by design.