The Value of Data-Driven Process Design

by Daniel Craig, Co-Founder & Chief Strategy Officer of ProfitCoach

If you want to run a profitable property management company, you need to master value creation.

Value creation is a business strategy that puts people first:

• • How do I create maximum value to serve my clients (residents and owners)?

• • How do I cultivate a team of people that excels at creating, delivering, and communicating that value?

Connecting value creation to your monetization strategy moves the focus from just the dollars and cents added to your bottom line, to the end-user experience. Connecting value creation to your team performance creates a clearer lens of what it means for each team member to contribute to the mission of your company.

But how do we make this shift from “add more doors” and “put out fires” to “add more value”?

If you want to have a healthy PM company, you probably should be adding doors and putting out fires. But we believe in value creation as the optimal lens for your growth strategy and your team strategy.

So how do you measure value? How do you know if you’re delivering on it? How do you create more of it?

Why You Need Data-Driven Process Design and Data-Driven Team Performance

When you’re asking how to create maximum PM value, we believe you can boil it down to this: helping people become and achieve more than they thought possible. This is our mission at ProfitCoach.

When you prioritize helping people “become and achieve more” (BAAM), you’re focused on creating value in their life and professional experience that enables them to create more value through their next levels of “become and achieve” … and then, they can help other people BAAM. It’s a continuous cycle of not just elevating skills (achieving) but also cultivating people holistically (becoming).

It sounds nice, right? But honestly, it also sounds a little esoteric and conceptual. How do we bring the concept of BAAM into the real-world experience of property management?

Enter: Data-Driven Process Design.

At ProfitCoach, our value creation engine is centered around a data-driven cycle: define, measure, benchmark, and best practices. We’ve seen time and again how this cycle creates value for clients, elevates our industry, and improves individual businesses’ financial health.

Now let’s apply that to two fundamental value engines in property management: client experience and team performance.

Each of these elements has its own data-driven “BAAM cycle” of defining, measuring, benchmarking, and implementing best practices.

At their core, property managers solve problems. This is what any business does: overcoming problems. The foundation is built on how to solve those problems, which requires data-driven process design.