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How Profit Coach Helped Blow My Business Up

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Manage episode 214683279 series 2391278
Content provided by Steve Welty. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steve Welty or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Today’s guest is Jordan Muela, the owner of LeadSimple, who’s here to talk about another business venture. We’re also joined by Daniel Craig. They’ll talk about their exciting new product, ProfitCoach, including how they were inspired to create it at a mastermind that all three of us attended.

Danny and Jordan have found that there’s a lot of difference in how people are performing related to profitability, and that the average profitability number that they came up with (6%) is a lot lower than they were expecting. This told them that there’s a huge opportunity out there to help a lot of people increase their profitability, and they’re excited to work with those people and bring up their profitability levels to where they should be!

You’ll learn important insights into business best practices. For example, the management labor component is tricky in the sense that a lot of people get to the point where they want to work on the business (instead of just in the business), so they hire underneath them. Problematically, this saddles the business with management labor that is often not clearly directed in terms of what high performance looks like.

Tune into the episode to learn more about what you can learn from ProfitCoach and the opportunities it can reveal, what you can do about churn, why proactive communication is so important, what LER and MER are (and why they matter), the reason that data is so vital, and much more!

Learn More About Today’s Guests:

Jordan Muela on LinkedIn

ProfitCoach

jordan@pmprofitcoach.com

The Profitable Property Management Podcast with Jordan Muela

Danny Craig on zoominfo

In This Episode:

[02:00] - We hear about how ProfitCoach came about thanks to a mastermind in Puerto Vallarta.

[03:44] - What are some things that Danny and Jordan have learned after starting LeadSimple?

[07:05] - Jordan talks about where he sees the most opportunities for property managers that he meets with.

[09:06] - What can people do about churn? The first thing, we learn, is to understand where the churn is coming from.

[11:35] - Steve brings up the topics of LER and MER, accounting terms that he learned about in a mastermind.

[13:25] - What is management LER, and why is it important?

[16:47] - We learn about a common potential problem in the management labor component of a business.

[19:05] - It’s a lot harder to manage things that you can’t measure, we learn in an explanation of why data matters.

[21:25] - What have Jordan and Danny learned from Greg Crabtree and/or his book, Simple Numbers?

[23:38] - We learn whether cost per lead is still around $50 on average for the industry.

[25:02] - Danny and Jordan talk more about lifetime value and why it’s one of the best metrics to look at.

[29:52] - What’s going on with the NARPM accounting standard?

[32:58] - The emphasis on growth in terms of doors is one of the main things that’s driving the lack of profits in the industry.

[35:08] - Steve shares one more thing that he appreciates about the ProfitCoach service.

[38:30] - Where can we learn more about ProfitCoach?

Links and Resources:

Sign Up for LeadSimple (don’t forget to use referral code STEVE)

Apply for The List Mastermind

Jordan Muela on LinkedIn

ProfitCoach

jordan@pmprofitcoach.com

The Profitable Property Management Podcast with Jordan Muela

Danny Craig on zoominfo

Greg Crabtree

Simple Numbers by Greg Crabtree

NARPM

Brad Larsen

The 4-Hour Body by Tim Ferriss

Andy Propst on Managing the Balance of Growth and Profitability on Jordan Muela’s podcast

  continue reading

41 episodes

Artwork
iconShare
 
Manage episode 214683279 series 2391278
Content provided by Steve Welty. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steve Welty or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Today’s guest is Jordan Muela, the owner of LeadSimple, who’s here to talk about another business venture. We’re also joined by Daniel Craig. They’ll talk about their exciting new product, ProfitCoach, including how they were inspired to create it at a mastermind that all three of us attended.

Danny and Jordan have found that there’s a lot of difference in how people are performing related to profitability, and that the average profitability number that they came up with (6%) is a lot lower than they were expecting. This told them that there’s a huge opportunity out there to help a lot of people increase their profitability, and they’re excited to work with those people and bring up their profitability levels to where they should be!

You’ll learn important insights into business best practices. For example, the management labor component is tricky in the sense that a lot of people get to the point where they want to work on the business (instead of just in the business), so they hire underneath them. Problematically, this saddles the business with management labor that is often not clearly directed in terms of what high performance looks like.

Tune into the episode to learn more about what you can learn from ProfitCoach and the opportunities it can reveal, what you can do about churn, why proactive communication is so important, what LER and MER are (and why they matter), the reason that data is so vital, and much more!

Learn More About Today’s Guests:

Jordan Muela on LinkedIn

ProfitCoach

jordan@pmprofitcoach.com

The Profitable Property Management Podcast with Jordan Muela

Danny Craig on zoominfo

In This Episode:

[02:00] - We hear about how ProfitCoach came about thanks to a mastermind in Puerto Vallarta.

[03:44] - What are some things that Danny and Jordan have learned after starting LeadSimple?

[07:05] - Jordan talks about where he sees the most opportunities for property managers that he meets with.

[09:06] - What can people do about churn? The first thing, we learn, is to understand where the churn is coming from.

[11:35] - Steve brings up the topics of LER and MER, accounting terms that he learned about in a mastermind.

[13:25] - What is management LER, and why is it important?

[16:47] - We learn about a common potential problem in the management labor component of a business.

[19:05] - It’s a lot harder to manage things that you can’t measure, we learn in an explanation of why data matters.

[21:25] - What have Jordan and Danny learned from Greg Crabtree and/or his book, Simple Numbers?

[23:38] - We learn whether cost per lead is still around $50 on average for the industry.

[25:02] - Danny and Jordan talk more about lifetime value and why it’s one of the best metrics to look at.

[29:52] - What’s going on with the NARPM accounting standard?

[32:58] - The emphasis on growth in terms of doors is one of the main things that’s driving the lack of profits in the industry.

[35:08] - Steve shares one more thing that he appreciates about the ProfitCoach service.

[38:30] - Where can we learn more about ProfitCoach?

Links and Resources:

Sign Up for LeadSimple (don’t forget to use referral code STEVE)

Apply for The List Mastermind

Jordan Muela on LinkedIn

ProfitCoach

jordan@pmprofitcoach.com

The Profitable Property Management Podcast with Jordan Muela

Danny Craig on zoominfo

Greg Crabtree

Simple Numbers by Greg Crabtree

NARPM

Brad Larsen

The 4-Hour Body by Tim Ferriss

Andy Propst on Managing the Balance of Growth and Profitability on Jordan Muela’s podcast

  continue reading

41 episodes

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