Andrew Smallwood

Passionate about building the future of resident experience. Generosity, Strategy, Sales, Marketing, Leadership, Michelin ⭐️s, Golf, Travel.

[Andrew Smallwood @smallwoodandrew]

“If there's one number that determines whether your property management company is built to thrive or built to struggle, it's Revenue Per Unit (RPU).”

-@pslohmann

[Peter Lohmann @pslohmann]

New blog on RPU (revenue per unit) https://t.co/l5uJjCZDhg
#propertymanagement #revenue #RPU #metrics

[Andrew Smallwood @smallwoodandrew]

@RayHespen @marcrandolph There are far more than 95% of failing businesses built on faulty strategy where staying the course is a waste of peoples lives.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 Outcomes matter, but so does how you get there (experience).

You can get from A to B via horseback or Cadillac, but one is going to be worth more to a lot of ppl.

Why PMs aren’t thinking of themselves as just service providers, they see themselves as experience providers.

[Andrew Smallwood @smallwoodandrew]

We used to gather materials.

Then we started making products.
Then we started making services.
Then we started making experiences.

Now, we’re manufacturing intelligence.

[Andrew Smallwood @smallwoodandrew]

@lochhead And if you’re evaluating a company to join.

Be sure that you can answer if they are a

Share taker

Or

Market maker

[Andrew Smallwood @smallwoodandrew]

Isn’t it contextual?

Tons of companies run “good-better-best” product-price strategy which makes a lot of sense for reasons you highlight.

Hard for me to see it for ice cream shops:
Where’s the 3-flavor provider that’s beating the 12+ flavor ice cream shops?

Would grocers sell more cereal if they only offered 3 brands? Or a bar if they only offered 3 beers?

My money would be on the opposite in those cases.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 I feel there is a mini-pod we should do to unpack this.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 There is real cost to complete screening, but do think pre-qual step could be free.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 ^With less money and time spent by applicants and PMs alike to review unqualified apps

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 wonder if there’s a pre-qual step to test that drives out unqualified apps earlier, without reducing conversion on qualified apps.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 That’s the triple win flywheel right there

A resident experience so good they don’t want to leave ⤵️

An investor experience so good they don’t want to sell ↩️

A team experience so good, talent wants to grow in your company 🔂

Kudos @MarkBrower14 💜🏆🏆🏆

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 You don’t just own the outcome as a destination… you own the outcome as an experience of how ppl get there.

Super rare
Super relevant
Super impressive

That adds up to a killer brand

And for me, it’s super inspiring

I hope you are given every encouragement to KEEP GOING 💜💪

[Andrew Smallwood @smallwoodandrew]

@TheKelseyMcR Hello(name).com could be an option

[Andrew Smallwood @smallwoodandrew]

@lochhead We aren’t paying ourselves

So before we solve our problems

We should probably be focusing on real, urgent, strategic customer problems

[Andrew Smallwood @smallwoodandrew]

@pslohmann It’s true until the group gets larger.

Then you gotta figure out how to segment again to get the right relevance and frequency.

Could be by topic, by member type, something else.

[Andrew Smallwood @smallwoodandrew]

@nathancjackson @pslohmann Do know a couple people there and at realpage. Have you tried Dennis Craig or Mike Mauseth? Happy to try to connect you if not.

[Andrew Smallwood @smallwoodandrew]

@MoshehP @davideagleman @lennysan @debliu_ @david_perell Pattern Breakers is on my list.
MMjr is the man.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 This is largely about marketing/education.

Positioning = what do you compare against?

If positioning against $0, or even $4k, $7200 is expensive.

As you say, compared to 10 extra months vacant? Now it’s cheap.

Maybe a financial product there to make it easier to digest too.

[Andrew Smallwood @smallwoodandrew]

@MarkBrower14 Can vary by business on best way to answer the questions/measure.

You can do aided recall, unaided recall surveys for brand awareness.

Most of the rest is really your CRM or marketing platform reporting (we use salesforce and hubspot).