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5 Property Management Business Tips to Start the New Year Right

Posted by Joseph Slonimsky on Dec 24, 2013 2:00:00 PM
Joseph Slonimsky
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property-management-business-tips-to-start-the-new-year-rightWe’re fast approaching the end of 2013, and with that it’s time to begin making plans for the upcoming New Year. The goal is to realize more success next year than you did this one, and achieving that goal takes a lot of strategic planning and hard work. To get you started on your list of New Years’ resolutions for your property management business, here are a few things that you can start doing today that will set your organization up for continued success.

Conduct a detailed review of your own successes and failures from the previous year

Which things did you do right? What initiatives got you the results you were hoping for? Make a list of those things that went well for your business so you can continue to focus and expand on them as you enter the New Year. Then, look at what things didn’t quite hit the mark and determine how you can avoid making those same mistakes moving forward.

Get your free copy of The Property Manager's Guide to Proactive Management — And make the time necessary to plan for an extraordinary future.


Conduct a competitive analysis

If you’re going to remain competitive in your industry, it’s important that you always keep your finger on the pulse of what’s happening out there. What seems to be working for your competitors and helping them stay successful? What can you do to improve your own business to better compete with your colleagues? It’s also important to identify mistakes that your competitors are making so you can avoid making those same errors yourself.

Put the right tools in place

The best way to position your organization for continued success as you enter the New Year is to ensure that you are taking advantage of all of the tools that are available to make your job easier and to create a work environment that is more efficient and effective. That means conducting an analysis of your internal policies and best practices, and verifying that the technological tools, such as property management software, you’re using are adequate for your needs.

Hone your marketing plan

If you’re not reaching the right people, even the most amazing marketing plan in the world won’t make a lick of difference. To really get the most out of your efforts, it’s important that you revisit and analyze how each campaign is performing and adjust accordingly. The end of the year is an excellent time to conduct such an analysis so you can hone and develop a more effective plan to put in place starting in January.

Make sure you’re maintaining an active presence online

These days, if you’re not online, you might as well not exist. We’ve shared many tips and suggestions over the past few years on how you can market your property management business through things like a quality website, search engine optimization (SEO) and social media participation, but the most important step is establishing your presence. If you haven’t yet done so, make this your number one task for the New Year.

Preparing for a new year can be a daunting task, but it’s all part of running a successful business. Having an outline or checklist of what things you want to plan for, and how, can help. These five simple things should have you on the path to creating a highly effective business plan for continued success in the New Year and beyond!

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Get your free copy of The Property Manager's Guide to Proactive Management — And make the time necessary to plan for an extraordinary future.



Topics: Productivity, Blog, Technology, Property Management

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