In times like these, business owners aren’t just battling to adapt to a new normal, they’re also facing a constant stream of white noise. From ever-evolving laws and restrictions, to the struggles of people under pressure, to tragic personal stories and tides of fake news, it can seem impossible to keep one’s head above the metaphorical water – let alone grow and shape a thriving business.
The common advice in situations like this is to focus on your goals, not on your obstacles. It makes sense: without clear direction, it’s only too easy to get swept away in the chaotic noise of the world we’ve found ourselves living in.
But what does that actually mean for property management businesses? Where (and how) should business owners and managers be focusing their energy to keep their teams moving forward against the significant pressures they face?
As Martin Luther King Jr once said, “If you can’t fly then run, if you can’t run, then walk, if you can’t walk, then crawl, but whatever you do, you have to keep moving forward.”
With so many distractions, it’s easy to let yourself – and your business – settle for treading water, but as we all know, a lack of progress is the first step to becoming obsolete. It may be a challenge to pick up momentum, but even the tiniest step is a step in the right direction. Take enough of them, and you might be surprised by how far you get.
Focus on delivering value
Nothing refocuses a business better than getting back to basics, and what could be more basic than the value you deliver to your clients? By defining and monitoring this value via key performance indicators, you can ensure your team’s energy is being channelled towards the right goals in the right way.
WeconnectU can help you do this via intelligent dashboards that continuously monitor KPI’s, helping both you and your clients measure and improve performance and refocus on core value drivers. This not only allows for greater and more efficient decision making (forward movement!), it also demonstrates to your clients the full value that your team delivers.
As an example, far above and beyond just the financials in community scheme management, trustees can see reports on all the typically overlooked – yet vital – aspects of property management that contribute to the big-picture efficiencies and cost-savings that your service enables. That’s value that’s hard to ignore.
Aim for greater efficiencies
With so much going on, time has become a critical commodity. That makes saving time through improved efficiency an important goal for any business.
In property management terms, greater efficiency comes from greater collaboration between stakeholders, and streamlining processes to avoid bottlenecks and other unnecessary delays.
WeconnectU’s Community Management Software can help with this by enabling all departments and workloads to be run on a single, unified platform, creating full transparency between all stakeholders (clients included) no matter where your teams are working from. This even extends to audits – a common bottleneck – which can be done entirely online using WeconnectU. Auditors and property managers can both work 100% remotely, leveraging the platform to deliver their services more efficiently and with far fewer delays.
Audits aren’t the only processes WeconnectU helps to streamline either. In addition to simplifying daily tasks, WeconnectU also creates massive time savings when it comes to managing payments across multiple community accounts. Instead of having to allocate transactions manually, WeconnectU’s Community Management Software is able to ingest data directly from the bank and automatically allocate all transactions (across multiple communities) to their applicable, individual accounts.
Payments are similarly streamlined, with all payments for all communities loaded and approved by the relevant parties on the WeconnectU’s Community Management Software platform. Once approval has happened, these payments can be compiled into a single file to be paid in one automated transaction by the property manager, saving the hours – if not days – it would take to do manually.
Get the right kind of help
At WeconnectU, we understand the challenges property managers face in today’s economic and social climate. Our Community Management Software and Rental Asset Management Software platforms was specifically designed to enable the kind of agility property management businesses need to adapt and thrive in both good times and times of adversity.