{"id":7245,"date":"2024-06-27T16:48:51","date_gmt":"2024-06-27T16:48:51","guid":{"rendered":"https:\/\/propertymeld.com\/?p=7245"},"modified":"2024-06-27T16:49:14","modified_gmt":"2024-06-27T16:49:14","slug":"from-process-pains-to-profit-gains","status":"publish","type":"post","link":"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/","title":{"rendered":"From Process Pains to Profit Gains"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">On June 26, 2024, <a href=\"https:\/\/propertymeld.com\">Property Meld<\/a> hosted a webinar with <a href=\"https:\/\/www.leadsimple.com\">LeadSimple<\/a> titled &#8220;From Process Pains to Profit Gains.&#8221; The session featured insightful discussions on change management strategies and best practices for process improvements. Here&#8217;s a comprehensive recap of the key discussions and takeaways from the webinar.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Or, you can watch the webinar recording.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a class=\"sproutvideo-lightbox\" href=\"https:\/\/videos.sproutvideo.com\/embed\/1190dbb81e1fe5c898\/7bd9c5c65781ec3d?postrollHtml=Request+a+Demo&amp;postrollUrl=https:\/\/propertymeld.com\/schedule-consultation\/&amp;postrollFontSize=34&amp;postrollFontColor=000000&amp;postrollBgColor=ffffff&amp;postrollTarget=_blank&amp;postrollReplay=true&amp;playerTheme=dark&amp;playerColor=2f3437&amp;autoPlay=true\" data-width=\"800\" data-height=\"450\"><img decoding=\"async\" class=\"aligncenter\" style=\"max-width: 100%;\" src=\"https:\/\/cdn-thumbnails.sproutvideo.com\/1190dbb81e1fe5c898\/7bd9c5c65781ec3d\/0\/btn_true,w_640,h_360\/poster.jpg\" \/><\/a><script charset='ISO-8859-1' src='https:\/\/c.sproutvideo.com\/lightbox\/v1.0.0.js'><\/script><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Data shows that 30-40% of processes are not properly documented. Without this documentation issues can quickly arise with staff training, performance standards, and standardization.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When it comes to work order management, building and documenting standardized processes is crucial to resident satisfaction, team efficiency, and preserving the value of your properties.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Without proper processes in place, work orders can fall through the cracks leading to resident and investor churn, or worst case scenario, leaving you vulnerable to potential lawsuits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, process improvements makes work easier for your team. In property management, employee churn is incredibly high, but with better processes in place you can make things easier for your team members and hang on to top performers.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3>When should you start documenting processes?<\/h3>\n<p><span style=\"font-weight: 400;\">The sooner you start documenting processes the better. Even as a smaller company it is crucial to document process improvements as you are building them out. Process is an evolutionary thing, it is constantly changing as your goals change or as you scale.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Again, without process documentation it is impossible to understand which processes are working and which processes need changed to adapt to your current challenges.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you gain feedback from team members about certain processes not working, that is the best time to understand why things aren\u2019t working and make strategic changes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cYou should always be putting yourself in a position where you understand what your team members are getting out of running a process. If the answer is nothing, that is not going to work.\u201d &#8211; Jordan Muela, CEO of Lead Simple<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having a process is the starting point, and there is no way to improve unless you have a documented version one of all your processes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019re gonna model 80% of our processes. Not everything can be systematized so we shoot for 80%.\u201d &#8211; Mike Mefferd Bridgesteam Property Management\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3>How Do Processes Help Increase Training Efficiency?<\/h3>\n<p><span style=\"font-weight: 400;\">Having set processes in place can also help you increase the speed in which you can ramp up new employees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Standardized processes ensure all employees are being trained the same and have the same expectations. Without these processes in place, it can take a lot longer for new employees to be ramped up.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAs we continue to scale, we need to have our team and capacity in place. So we are starting to have more conversations about scaling and how we are increasing our staffing and what we expect from our team.\u201d &#8211; Mike Mefferd, Bridgestream Property Management<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3>How Process and Goals Align<\/h3>\n<p><span style=\"font-weight: 400;\">When building out your processes, it is crucial to understand the goals of your business. For example, in property management you might only work with certain clients. You have to ensure the processes you\u2019ve built align with the clients you work with and the goals you have for your organization.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3>How To Get Team Buy-in for New Processes<\/h3>\n<p><span style=\"font-weight: 400;\">When going through a big process change you have to understand that you may face some resistance in the very beginning. You have to know that it may be bumpy at the start, but you need that team buy-in from the very beginning.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Team members can be scared of change and how it will impact their day to day responsibilities. It is crucial to educate your team members on how these processes will save them time, or make their job easier.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cEmotion is going to help drive people to have more comfort around the change you are asking them to make. Make sure you are listening to their feedback and sit side by side with them.\u201d &#8211; Mike Mefferd<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To learn more about building standardized processes and ensuring they are properly documented, watch the full webinar above. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 26, 2024, Property Meld hosted a webinar with LeadSimple titled &#8220;From Process Pains to Profit Gains.&#8221; The session featured insightful discussions on change management strategies and best practices for process improvements. Here&#8217;s a comprehensive recap of the key discussions and takeaways from the webinar. &nbsp; Or, you can watch the webinar recording.\u00a0 &nbsp; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7214,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"yes","footnotes":""},"categories":[7,43],"tags":[],"class_list":["post-7245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-industry-trends"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>From Process Pains to Profit Gains - Property Meld<\/title>\n<meta name=\"description\" content=\"In this webinar with Property Meld and LeadSimple, we discussed how you can utilize process improvements to drive your business forward.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From Process Pains to Profit Gains - Property Meld\" \/>\n<meta property=\"og:description\" content=\"In this webinar with Property Meld and LeadSimple, we discussed how you can utilize process improvements to drive your business forward.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/\" \/>\n<meta property=\"og:site_name\" content=\"Property Meld\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T16:48:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-27T16:49:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/propertymeld.com\/wp-content\/uploads\/2024\/06\/PM24-LeadSimple-Social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1935\" \/>\n\t<meta property=\"og:image:height\" content=\"1083\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Molly Sperlich-Best\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Molly Sperlich-Best\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/\"},\"author\":{\"name\":\"Molly Sperlich-Best\",\"@id\":\"https:\/\/propertymeld.com\/#\/schema\/person\/578cf83533aadca649f5972a20ca2835\"},\"headline\":\"From Process Pains to Profit Gains\",\"datePublished\":\"2024-06-27T16:48:51+00:00\",\"dateModified\":\"2024-06-27T16:49:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/\"},\"wordCount\":676,\"publisher\":{\"@id\":\"https:\/\/propertymeld.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/propertymeld.com\/wp-content\/uploads\/2024\/06\/PM24-LeadSimple-Social.png\",\"articleSection\":[\"Blog\",\"Industry Trends\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/\",\"url\":\"https:\/\/propertymeld.com\/blog\/from-process-pains-to-profit-gains\/\",\"name\":\"From Process Pains to Profit Gains - 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