CAM Profitability ConferenceBest Practices for 21st Century Executives
>
rdquo
ldquoOur Mission
To provide a series of thought-provoking seminars and social media discussion groups to educate and advise community management executives on ways to better run their companies Community management companies are under intense competitive pressure which affects profit levels The topics discussed will give insight into ways to better market management services increase revenues reduce expenses and maximize profits in a variety of innovative ways
Agenda (Morning Session)
Welcome amp Introductions Where is Community Management Headed How Can We Work SmarterBetterbull Automate Repetitive Tasksbull Outsource to Save Time and Moneybull Technology as an efficiency Toolbull The Future is Mobile Data Accessbull Communicationsbull Lunch
1000 AM
1005 AM
1025 AM
1040 AM
1100 AM
1115 AM
1130 AM
1150 AM
Agenda (Afternoon Session)
Managing Community Officer Expectations Are You As Profitable as You Should Be Finding New Business
Marketing Your Management Company Marketing Through Social Media Use Portfolio Management
to Increase profits Profitability Not a Four Letter Word Questions amp Answers
1210 PM
100 PM
115 PM
135 PM
150 PM
205 PM
220 PM
Where is Community Management Headed~ Craig Huntington
Where is Community Management Headed More National players will move into more
areas of the country Technology will continue to drive efficiencies
and your ability to compete
bull Software integration withbullThe webbullPhone systemsbullPaperless systems
bullMobile Data Access will become the standard
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
rdquo
ldquoOur Mission
To provide a series of thought-provoking seminars and social media discussion groups to educate and advise community management executives on ways to better run their companies Community management companies are under intense competitive pressure which affects profit levels The topics discussed will give insight into ways to better market management services increase revenues reduce expenses and maximize profits in a variety of innovative ways
Agenda (Morning Session)
Welcome amp Introductions Where is Community Management Headed How Can We Work SmarterBetterbull Automate Repetitive Tasksbull Outsource to Save Time and Moneybull Technology as an efficiency Toolbull The Future is Mobile Data Accessbull Communicationsbull Lunch
1000 AM
1005 AM
1025 AM
1040 AM
1100 AM
1115 AM
1130 AM
1150 AM
Agenda (Afternoon Session)
Managing Community Officer Expectations Are You As Profitable as You Should Be Finding New Business
Marketing Your Management Company Marketing Through Social Media Use Portfolio Management
to Increase profits Profitability Not a Four Letter Word Questions amp Answers
1210 PM
100 PM
115 PM
135 PM
150 PM
205 PM
220 PM
Where is Community Management Headed~ Craig Huntington
Where is Community Management Headed More National players will move into more
areas of the country Technology will continue to drive efficiencies
and your ability to compete
bull Software integration withbullThe webbullPhone systemsbullPaperless systems
bullMobile Data Access will become the standard
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Agenda (Morning Session)
Welcome amp Introductions Where is Community Management Headed How Can We Work SmarterBetterbull Automate Repetitive Tasksbull Outsource to Save Time and Moneybull Technology as an efficiency Toolbull The Future is Mobile Data Accessbull Communicationsbull Lunch
1000 AM
1005 AM
1025 AM
1040 AM
1100 AM
1115 AM
1130 AM
1150 AM
Agenda (Afternoon Session)
Managing Community Officer Expectations Are You As Profitable as You Should Be Finding New Business
Marketing Your Management Company Marketing Through Social Media Use Portfolio Management
to Increase profits Profitability Not a Four Letter Word Questions amp Answers
1210 PM
100 PM
115 PM
135 PM
150 PM
205 PM
220 PM
Where is Community Management Headed~ Craig Huntington
Where is Community Management Headed More National players will move into more
areas of the country Technology will continue to drive efficiencies
and your ability to compete
bull Software integration withbullThe webbullPhone systemsbullPaperless systems
bullMobile Data Access will become the standard
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Agenda (Afternoon Session)
Managing Community Officer Expectations Are You As Profitable as You Should Be Finding New Business
Marketing Your Management Company Marketing Through Social Media Use Portfolio Management
to Increase profits Profitability Not a Four Letter Word Questions amp Answers
1210 PM
100 PM
115 PM
135 PM
150 PM
205 PM
220 PM
Where is Community Management Headed~ Craig Huntington
Where is Community Management Headed More National players will move into more
areas of the country Technology will continue to drive efficiencies
and your ability to compete
bull Software integration withbullThe webbullPhone systemsbullPaperless systems
bullMobile Data Access will become the standard
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed~ Craig Huntington
Where is Community Management Headed More National players will move into more
areas of the country Technology will continue to drive efficiencies
and your ability to compete
bull Software integration withbullThe webbullPhone systemsbullPaperless systems
bullMobile Data Access will become the standard
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed More National players will move into more
areas of the country Technology will continue to drive efficiencies
and your ability to compete
bull Software integration withbullThe webbullPhone systemsbullPaperless systems
bullMobile Data Access will become the standard
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed Employees will become more professional
educated and technically savvy Companies will start performing more tasks to
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed Companies will start performing less tasks iebull Accountingbull HRbull Outsource services that require quick responsebull Resale disclosures bull In-house payment processing bullMass Printing
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed More telecommutingbullMight offer salary savingsbull Save on office rentbull Spread your footprint bull Needs control systems
Paperless Filing will become the norm New State Laws will affect the industry
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed The conclusions we can draw at this point in time
about where community management is headed arebull National firms buying local companies continuesbull Move towards web based and mobile technologybull Integration of internal business systemsbull Broaden income streams through
expansion of servicesbull More outsourcing to save laborbull The industry will be more
controlled by new laws
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Where is Community Management Headed
The Takeaway
It will take a savvy business professional to navigate the rapidly changing landscape
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
How Can We Work SmarterBetterAutomate Repetitive Tasks
~ Jeff Hardy
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive Tasks The Community
Management business is very labor intensive
Labor dollars are the most expensive dollars paid by any companybull Salariesbull Employer Taxesbull Employee Benefits
Category Avg Salary Cost
CEO $117004
Executive $89202
Portfolio Managers $56011
AccountingAdmin $60805
Management companies employ these 4 general categories of staff
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive TasksExamples of Repetitive Office Tasks
Accounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Enter Cash Receipts Lockbox ACH or high speed check scanningCheck 21 deposits
AccountingAdmin
178 hrs pyr per employee tasked
$5212 pyrpemployee
PrintSend Late Notices and Letters
Automate through your software combined with Workflow processing
AccountingAdmin
262 hrs pyr per employee tasked
$7676 pyrpemployee
Enter AP Invoices Outsource to a payment processor
AccountingAdmin
534 hrs pyr per employee tasked
$15623 pyr pemployee
Print AP Checks on Preprinted Check Stock
1 Print MICR Checks with Digital Signatures2 Generate eChecks 3 Outsource to a payment processor
AccountingAdmin
265 hrs pyr per employee tasked
$7736 pyr pemployee
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive TasksAlternatives to Repetitive Office TasksAccounting Functions
Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Outsourcing AP to a payment processor can lead to large savings
AccountingAdmin
$1561 per Invoice
Reconcile Bank amp GL Accounts
Automate through your software interfacing with your bank
AccountingAdmin
132 hrs pyr per employee tasked
$3844 pyr pemployee
Generate Financial Statement Package
Automate through your software with a report package builder so a few clicks generates the financial package
AccountingAdmin
114 hrs pyr per employee tasked
$3345 pyr pemployee
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive TasksAlternatives to Repetitive Office Tasks
Based on TOPS Customer Survey Responses
Based on Aberdeen Report
Office Functions Possible Alternatives Staff Type Estimated Time Savings
Estimated Savings
Community Mailings
1 Look at email as an alternative to print mail 2 Mailing machines that can print merge and stuff envelopes3 Outsource to mailing specialist
Office Admin Save as much as 25 of the overall costs
$15201 Annually
Answer Owner Phone Calls
1 A community web site can reduce calls to the office 2 An automated phone attendant can save receptionistrsquos time and expense
Office Admin Might not need a full time receptionist
$25000 Annually
Mailing Financial Packages to Officers
Email as an alternative to printing and mailing
Office Admin 100 hrs pyr per employee tasked
$2923 Annually
Filing Correspondence or other important documents
Start scanning and storing digitally Office Admin $2925 phour avg pay rate for Office Admin
Unknown but significant
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive TasksReasons to consider going paperless through email and electronic filing
Paper Factsbull Average office worker uses 10000 sheets of paper per
yearbull 40 of all wood in the US goes to the production of paperbull It takes 1 frac12 cups of water to make 1 sheet of paperbull Donrsquot think just of the filing time think
of the document retrieval time toobull The cost of USING paper can be as much
as 31 times the cost of the paper itself
From ReduceOrg
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive Tasks
Benefits of Automation
Time savings means potential labor dollar savingsBetter control of labor expenses (Same staff can
handle more communities) Improved response to customersLower costs keep you more competitive in your
marketplace Increase PROFITS
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Automate Repetitive Tasks
The Take Away
Regularly reexamine internal processes and systems looking for ways to automate or at least ways to improve efficiency
Donrsquot Accept the ldquostatus quordquo represented by the ubiquitous ldquoBut wersquove always done it this wayrdquo on any slow repetitive manual process
Repetitive manual functions cost you money It has an impact to your bottom line which is a danger to a company in a competitive low profit industry like community management
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
How Can We Work SmarterBetterOutsource to Save Time amp Money
~ Craig Huntington Mickey McGuire
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Outsource to Save Time amp Money
What is Outsourcing
Outsourcing is the practice of contracting a business function to a third party The opposite of outsourcing is called lsquovertical integrationrsquo or lsquoin-sourcingrsquo
- Wikipedia
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Outsource to Save Time amp MoneyYou Need To Accomplish More With Less
PeopleEquipment Investment
Why do associations hire management companies bull They need an organization with expertisebull They donrsquot have the time or personnel to
do it themselvesbull A paid staff gives accountability for
getting things donebull Itrsquos a pain in the butt - unpaid
volunteers rarely can keep up with itbull Rapidly Changing government regulations
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Outsource to Save Time amp Money What does a typical management company specialize in It
sure isnrsquot printing mailing developing software performing banking services Itrsquos the followingbull Accountingbull Property Maintenancebull Support of Community Officers
The cost of an employee can be measured ndash typically $2925 per hour for administrative staff others are even more costly
What is the best use of the employeersquos time bull Mundane tasks or solving problems
amp generating revenue
Based on CAIrsquos 2010 Salary Survey
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Outsource to Save Time amp Money Most executives prefer to not know the real cost of
performing some tasks in-housebull ie ldquoSuzy is here anyhow so letrsquos have her do it in her free
timerdquobull Management Companies lack the ability to write softwarebull Management Companies have no accreditation to perform
bank services much less the abilitybull Study results from actual time and materials studies-
statementsbull In-house = $91bull Outsource = $75
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Outsource to Save Time amp Money Does anyone open and process their own billing statements
anymore AR Lockbox is the perfect example of outsourcing Now there is a process for outsourcing your Accounts
Payable There is a small fee but the association will pay it
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Outsource to Save Time amp Money Choosing the right vendor can provide features and functions
not available in-housebull Electronic deliverybull Superior company imagebull Professionalism
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
How Can We Work SmarterBetterTechnology as an Efficiency Tool
~ Craig Huntington Jeff Hardy
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Technology as an Efficiency Tool
What is Technology
Technology is the making usage and knowledge of tools machines techniques crafts systems or methods of organization in order to solve a problem or perform a specific function
- Wikipedia
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Way Things WereWelcome to the 1970rsquos
How many of you were in community management in the lsquo70s EVERYTHING was manual Ledger cards for tracking receivables Phones were public Inspections ndash a yellow legal pad Staff time was staggering and an
impediment to growth Transformational technology Desktop electronic calculator
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Way Things WereA Truly Frightening Reminder of the 70s
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Way Things WereWelcome to the 1980rsquos
How many of you were in community management in the lsquo80s Phones were public Inspections on a yellow legal pad Communications bull Phone letters and fax
Transformational techbull PC becomes available in 1981
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Way Things WereWelcome to the 1990rsquos
How many of you were in community management in the lsquo90s Computers used for accounting and
property management People used pagers Inspections done on yellow legal pads
and clipboards Communications bull Phone letters internet email just
starting Transformational techbull cell phones became available
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Way Things WereWelcome to the New Millennia
Dotcom bubble pops Email became ubiquitous Cell phones become cheaper PDAs arrived (and disappeared) Inspections still on yellow legal pads Communications bull Phone letters email websites
Social media and texting begin to appear
Transformation techbull Internetbull Websites
Industry specific Lockbox for AR
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Way Things AreWelcome to 2012 Smartphones replace cell phones Tablets making inroads on laptops Hi-speed cell networks Social media is everywhere Social media replaces email People are always online Inspections - mostly done on legal pads Communications bull More than you can even list
How are you embracing these innovations Transformation techbull Mobile computingmdashTabletsSmartphones
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Transformational Technology
Through the years savvy community managers leveraged new technologies to improve efficiencybull They used the transformational technologies
USA Today ndash 11212 ndash ldquoSmall Business Strategies Seven trends you cant ignorerdquobull Journalist asked ldquoAre you running your business like itrsquos
1982 If yoursquore not investigating the following you might berdquobull The cloudbull Social mediabull Mobilebull Hiringbull Creditbull Analyticsbull Global
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Technology is All About People
Without you technology is nothing It gives you more power to promote your company It allows your clients to be connected
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Technologyhellip Without YOU IT is Nothing
What is Technology
The number one benefit of information technology is that it empowers people to do what they want to do It lets people be creative It lets people be productive It lets people learn things they donrsquot think they could learn before and so in a sense it is all about potential
- Steve Ballmer Microsoft CEO
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Industry Specific TechnologyWhat Have We Accomplished
Lockbox No longer have thousands of payments coming to Management Company
Check writing No longer need to have checkbooks for every community
Web pages for homeowners to find information and not call Management Company
Literally we could not do our jobs were it not for technology
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Industry Specific TechnologyWhat is the Future for Industry Technology
Mobile devices for instant data access anytime anywhere
Towards Paperless OfficesEmail will be accepted as legal noticeSocial Media will become a
standard form of communication
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Industry Specific TechnologyWhat Technology Means to You
Technology is a tool to make your job easier It improves office morale and attitudes It usually involves computersUse of technology offers the community management
industry one of the best options to save time and effortThe right technology can help make you profitable
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Industry Specific TechnologyFinding the Right Technology
Define your needs What do you want to accomplishLook where your staff spends an inordinate amount
of timeThe 3 goals to achieve when evaluating any new
If the technology you are considering does not offer all three it is not the right technology to achieve your goals
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Industry Specific TechnologyFinding the Right Technology
Beware being on the Cutting or Bleeding EdgeGoogle and Apple are solid technology choicesDonrsquot be afraid to ldquoJump off the Logrdquo
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
How Can We Work SmarterBetterThe Future is Mobile Data Access
~ Mike Hardy
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
How many of you have a smart phone How about a tabletbull How many find them confusing
How many of you are using them to do community managementbull How
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
Comparing Devices
Computer (ca 2005)
bull 25Ghz processorbull 80-200 GB storagebull 512-1024 MB RAMbull Big gray box under
your desk (not portable)
Motorola Xoom 2011
bull Dual core 1Ghzbull 32 GB storage
(can expand)bull 1 GB RAMbull 5 MB camerabull Takes HD moviesbull Weighs 15 lbsbull Size of magazine
Apple iPhone4 2011
bull 1Ghz processorbull 16-32 GB storagebull 5 MB camerabull Takes HD moviesbull Weighs 483 ozbull Little bigger than a
deck of cards
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
So what are smart phones and tabletsbull REALLY SMALL COMPUTERSbull All the power of a computer in a small formbull Self contained multi function devicebull Maximum portability
Stop thinking of them as phones ndash they are way more than that
BUThellipTheyrsquove been limitedhellip
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data AccessSure they can allow you tohellip Sendreceive email Take pictures (for violations work orders) Take notes open files GPS navigation Find a good restaurant (Yelp TripAdvisor)
But for years therersquos been one thing holding them backhellip
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access Itrsquos the Networkbull If your smart phone or tablet were a car itrsquod be a Ferraribull The network would be rush hour traffic bull Donrsquot really go well together
3G was the first attempt at high speed networksbull Just means gt200 Kb per secbull Reality is that traffic on the network often resulted in
lower speeds
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access The NEW Network ndash 4Gbull Set peak speeds 100 Mb to 1Gbsecbull That is a 50000+ speed increasebull BUT ndash not every 4G network is the samebull Check your carrierbull Still this is a monumental leap forwardbull T1 speeds via cell towers
Enable that tablet and smart phone to work as itrsquos designed to -- FAST
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
So now that the network is faster we need more of it Alcatel-Lucent (WSJ 2711) may have the solution No one wants a cell tower by them ndash no matter how
you dress them up
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
So what are tablets and smart phonesbull Really cool and small computers
Why are they relevantbull They give you tons of power in a highly portable device
The network is getting faster and broader What can they dobull Letrsquos dig into this a little more
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
To effectively leverage mobility you need to devise a strategy
Mobility is a complementary technology To get the most from any mobile platform it must be
in communication with your back office management system
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
Community management applicationsbull Access up to date Owner informationbull Same with vendorsbull Draft work order and assign thembull Perform inspections without double entry (yellow pad)bull Update architectural requestsbull Resource in board meetingsbull Document violations
All in near- or real-time with your back office solutionbull Less gasbull More productivitybull Green option
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Future is Mobile Data Access
Take Action Contact your back office software provider ndash what do
they offerbull They are your single best resource ndash remember stay
connected
Look at the device landscape and carriersbull What is right for you and your team ndash coverage
Devise a strategybull Know how you plan to use
tablets amp smart phonesbull Realistic expectations ndash this
is still very new
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
How Can We Work SmarterBetterCommunications
~ Mickey McGuire Mike Hardy
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
CommunicationCommunication is the activity of conveying information
Communication requires a sender a message and an intended recipient although the receiver need not be present or aware of the senders intent to communicate at the time of communication thus communication can occur across vast distances in time and space Communication requires that the communicating parties share an area of communicative commonality The communication process is complete once the receiver has understood the message of the sender
- Wikipedia
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
CommunicationTenants of good communication Informative Positive Succinct It is an opportunity to remind the homeownerbull Who is managing the propertybull What a good job you are doing for them
Have someone else review the communication that knows nothing about the subject matter If it makes sense to them it will make sense to the homeowners
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
CommunicationHow many of you have flown and been in the airport waiting for a
delayed flight How well did those gate agents communicate with you
How did that communication make you feel Better Worse Good
communication often makes the difference
How do we communicate in our businessbull Newslettersbull Messages on Coupon Books
(Message Coupons inside the books) BillsStatements ndash the messaging within the statements is a key component I wish to stress The statement document is a ldquomust readrdquo item so the homeowner must look at it at least once and usually twice
bull Emailsbull Websitesbull Social Media
Are you using all of the above
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Communication
Punctuation The simple change of a comma could dramatically alter the meaning of your written words
Letrsquos eat Grandma Letrsquos eat Grandma
A woman without her man is nothing
A woman without her man is nothing
A woman without her man is nothing
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Communication
Inflection In the spoken word how you say it is as important as what you say
I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money I didnrsquot say she stole the money
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Communication
Are the Instructions Clear Many times we give mixed or confusing directions
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Grandmother of eight makes a hole in oneMilk Drinkers are Turned to Powder
Prostitutes Appeal to Pope
CommunicationAre the Instructions Clear Is this really what they meant Real headlines from real newspapershellip
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
CommunicationRules amp Guidelines If you are on the 3rd email and there is still confusion
PUTT ndash PICK UP THE TELEPHONE Spell check is free ndash use it before sending Shorter phrases are more easily understood Speak at a speed the listener can follow Every email does NOT need to be answered
immediately ndash give your response more thought before sending
Divide complicated answers into bite-sized bits Could a 5th grader understand your message
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
>
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
How Can We Work SmarterBetterManaging Community Officer Expectations ~ Skit ndash All Presenters
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Lunch BreakA great time to network with other attendees
>
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Are You As Profitable as You Should Be~ Mickey McGuire
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Are You as Profitable as You Should Be Survey results for CEOs of management companies Difference between profit gross margin and net
revenue High revenues (sales) do not always equal high profits How to measure the client for profitability
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Are You as Profitable as You Should Be What is the value of a clientbull Sales volumedoor chargebull Administrative maintenancebull Sizebull The ldquoFrustration Factorrdquo
Franklin Primary Care 3 70 210 1 15 015 2 10 020 3 5 015 260
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Are You as Profitable as You Should Be Are you charging enough for the value you provide Dealing with the ldquopricerdquo objection ndash Howbull Alaacute carte pricing modelsbull Is price the only considerationbull Counterbalancing Benefitsbull Feel ndash Felt - Foundbull Pre-emptive Strikebull Boomerang
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Are You as Profitable as You Should Be
Its unwise to pay too much but its worse to pay too little When you pay too much you lose a little money -- that is all When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do
The common law of business balance prohibits paying a little and getting a lot -- it cant be done If you deal with the lowest bidder it is well to add something for the risk you run and if you do that you will have enough to pay for something better
There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper and the people who consider price only are this mans lawful prey
- John Ruskin (1819 ndash 1900)
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Finding New Business Marketing Your Management Company
~ Craig Huntington Jeff Hardy
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Finding New Business Are you sure this is what you want to dobull Is bigger always better bull Use ldquosmart growthrdquo strategies
Make sure you find time to expand your business That should be your number one job Use some of the information we have given you today to save time so you can spend more time finding new business
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Finding New Business Working with Contractorsbull Ask for referrals to other communitiesbull Hold a vendor fair
Networking with communities at events Hold seminars for your board and others Drive-by marketing Sponsor local events Get list from local or state governments Ask you current boards for referrals Make sure your web site is search engine friendly Embrace Social Media (more on that later)
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Finding New Business Look for new revenue sources from existing customersbull Revisit schedule of reimbursable expensesbull Charge for handling insurance claimsbull Charge for supervising construction projectsbull Charge for excessive number of meetingsbull Consider starting a for-profit maintenance division
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing Through Social Media~ Mike Hardy
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing through Social Media
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Filter out the noisebull Therersquos a lot (LOT) out therebull This is the new ldquoWord of MouthrdquobullYour board members and owners are already
there Focus on mainstream Social Mediabull Facebookbull Twitterbull LinkedInbull Youtube
Marketing through Social Media
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing through Social MediaFacebook The 800lb gorillabull 800 million users worldwide active within 30 daysbull gt50 login every daybull Average user has 130 friendsbull Average user is connected to gt80 groups pages eventsbull Increased search prominencebull Average userrsquos age ndash 38
Takeawaysbull First off Facebook is FREEbull Itrsquos not just kidsbull This has become peoplersquos
full time online presence
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing through Social MediaFacebook Can create Company or Organization pagebull Status updatesbull Broadcast messaging
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing through Social Media
TwitterText messaging of the internetbull gt300 million users worldwidebull Tweets and Re-tweetsbull to direct tweets to personentitybull Hash Tags to use keywordsbull Prominence in Googlebull And itrsquos FREE
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing through Social Media
Linkedin If Facebook is where you go to connect to friends amp
family then LinkedIn is itrsquos corporate brotherbull 135 million worldwide usersbull Bigger than Myspacehellip
bull Create a professional profilebull Connect to business associatesbull Groups based on industry topicsbull Company pages to showcase productsservicesbull Forge new contacts ndash NETWORKINGbull Status updates for personal and company pagesbull Collect referrals and recommendationsbull Link to Twitterbull Business is happening on LinkedIn
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Marketing through Social Media
Twitter Free service to upload view and share videosbull gt3 billion videos viewed every daybull 30 of those are in the US
bull Videos can be up to 15 mins in lengthbull Longer videos can be posted once your account is in good standing
bull Can embed videos in websitesbull Personalized video channels for your companybull Easy sharing through other mediabull Can connect to Facebook and Twitterbull This is where the term viral came from
bull Comments from viewersbull Gain followersbull Adworld says 55 of Youtube viewers of a video will in turn visit
the source companyrsquos websitebull And itrsquos FREE
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits
~ Jeff Hardy
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits
What is Portfolio Management
It is developing ldquoSmart Growthrdquo practices to grow your management company It means taking on new customers that fit a pre-determined target business strategy so you not only cover your costs but make a profit
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits
Which of These Community Types is More Profitable to Manage
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits
HOArsquos ndash easiest to manage since only responsible for common area
Garden Condos ndash involve more maintenance and require 24 hour on-call staff
MidHigh Rise Condos ndash the most difficult to manage The higher units are stacked up the more problems Elevator buildings and garbage chutes are constant problems Must have adequate and well-trained staff to handle these properties Might require on-site staff
The Community Types in Your Portfolio Affect Your Business
As Clint Eastwood said in 1973rsquos Magnum Force ldquoA man (or woman) must know his limitationsrdquo Are you
prepared to handle each of these community types
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits
Elements of ldquoSmart Growthrdquo Know your fixed costs for each community
you managebull Time Studiesbull Estimate Time Spent
Set a monthly minimum management fee that covers your fixed costs
Determine the minimum community size that meets your criteria
Portfolio Management is ldquoSmart Growthrdquo Strategies
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits You cannot afford to manage small or ldquoloss
leaderrdquo communities Small communities take as much staff time as
larger communities They use up limited resources that are best
applied to higher paying communities Troubled communities take too much staff timebull High risk of losing the contractbull Bad attitudes of officers and residents
Distance from your office is a costly barrier Swap smalltroubled communities for
larger income communities
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Use Portfolio Management to Increase Profits Portfolio Management techniques best apply to
established management companiesbull Start-ups must take any community they can getbull Only established companies with good reputations can
be pickybull It takes time to transition your portfolio to ldquoSmart
Growthrdquo Consider proposing ldquoFinancial Onlyrdquo management to
smaller communities Portfolio Management will bring
positive results and raise your profitability
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Profitability Not a Four Letter Word~ Craig Huntington
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Profitability Not a Four Letter Word You are a professional ACT LIKE ONE and Charge like onebull Get rid of the Voice of Treason
First thing you must decide want kind of company do you want to be
Never be afraid to fire an association Donrsquot spend 80 of your time on 20 of your clients Recognize the 8020 and make the most productive use of
your time
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Profitability Not a Four Letter Word Maximize your efforts for you and your top clients Increase profits and produce a more satisfying work
environment The goal is to work towards turning 8020 to 2080 Work on accounts that are productive Minimize or eliminate accounts that are not productive
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Profitability Not a Four Letter Word
Keys to Profitability
Make sure your communities understand what you do Run your management company like a business Donrsquot be shy to ask to be paid for extra work Employ technology to replace manpower wherever you can Outsource labor intensive or
intrusive jobs where possible Employ ldquoSmart Growthrdquo strategies
when growing your company
Recognize you are providing a valuable service to the communities you manage Your company cannot survive unless you are profitable
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
The Final Word Todayrsquos Takeaways~Mike Hardy
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
Todayrsquos TakeawaysTransform your company into a money-making machine
Look for integrated technology for max labor-saving efficiencies Automate or outsource repetitive manual functions Charge for performing functions that take extra staff time Transition to mobile solutions for at least your
community managers Cloud computing is where everything is headed Embrace social media to help grow your company Your management web site is a marketing
tool hire a SEO expert so you can be found Employ ldquoSmart Growthrdquo and Portfolio
Management strategies
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
Finding New Business
Finding New Business (2)
Finding New Business (3)
Marketing Through Social Media
Marketing through Social Media
Marketing through Social Media (2)
Marketing through Social Media (3)
Marketing through Social Media (4)
Marketing through Social Media (5)
Marketing through Social Media (6)
Marketing through Social Media (7)
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits
Use Portfolio Management to Increase Profits (2)
Use Portfolio Management to Increase Profits (3)
Use Portfolio Management to Increase Profits (4)
Use Portfolio Management to Increase Profits (5)
Use Portfolio Management to Increase Profits (6)
Profitability Not a Four Letter Word
Profitability Not a Four Letter Word (2)
Profitability Not a Four Letter Word (3)
Profitability Not a Four Letter Word (4)
The Final Word Todayrsquos Takeaways
Todayrsquos Takeaways
Slide 100
CAM Profitability Conference
Our Mission
Agenda (Morning Session)
Agenda (Afternoon Session)
Where is Community Management Headed
Where is Community Management Headed (2)
Where is Community Management Headed (3)
Where is Community Management Headed (4)
Where is Community Management Headed (5)
Where is Community Management Headed (6)
Where is Community Management Headed (7)
How Can We Work SmarterBetter Automate Repetitive Tasks
Automate Repetitive Tasks
Automate Repetitive Tasks (2)
Automate Repetitive Tasks (3)
Automate Repetitive Tasks (4)
Automate Repetitive Tasks (5)
Automate Repetitive Tasks (6)
Automate Repetitive Tasks (7)
How Can We Work SmarterBetter Outsource to Save Time amp Money
Outsource to Save Time amp Money
Outsource to Save Time amp Money (2)
Outsource to Save Time amp Money (3)
Outsource to Save Time amp Money (4)
Outsource to Save Time amp Money (5)
Outsource to Save Time amp Money (6)
How Can We Work SmarterBetter Technology as an Efficiency Too
Technology as an Efficiency Tool
The Way Things Were
The Way Things Were (2)
The Way Things Were (3)
The Way Things Were (4)
The Way Things Were (5)
The Way Things Are
Transformational Technology
Technology is All About People
Technologyhellip Without YOU IT is Nothing
Industry Specific Technology
Industry Specific Technology (2)
Industry Specific Technology (3)
Industry Specific Technology (4)
Industry Specific Technology (5)
How Can We Work SmarterBetter The Future is Mobile Data Acces
The Future is Mobile Data Access
The Future is Mobile Data Access (2)
The Future is Mobile Data Access (3)
The Future is Mobile Data Access (4)
The Future is Mobile Data Access (5)
The Future is Mobile Data Access (6)
The Future is Mobile Data Access (7)
The Future is Mobile Data Access (8)
The Future is Mobile Data Access (9)
The Future is Mobile Data Access (10)
The Future is Mobile Data Access (11)
How Can We Work SmarterBetter Communications
Communication
Communication (2)
Communication (3)
Communication (4)
Communication (5)
Communication (6)
Communication (7)
Communication (8)
Slide 64
How Can We Work SmarterBetter Managing Community Officer Expe
Lunch Break
Are You As Profitable as You Should Be
Are You as Profitable as You Should Be
Are You as Profitable as You Should Be (2)
Are You as Profitable as You Should Be (3)
Are You as Profitable as You Should Be (4)
Finding New Business Marketing Your Management Company
