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In this episode of 'Pay or Quit,' hosts Tony Cline and Shawn Johnson dive deep into the essential components of building a championship team in the business world. They start by discussing the foundational elements like mission, vision, and core values, explaining their critical role in setting the direction and aligning the company. The conversation then shifts to a comprehensive breakdown of the seven crucial components necessary for creating a winning team: the game plan, rule book, playbook, positions, players, equipment, and scoreboard.

Tony and Shawn share their own experiences from their time at HomeVault and other ventures, offering valuable insights into the challenges and triumphs they encountered. They emphasize the importance of having a clear mission and vision, creating policies before processes, and the significance of hiring the right people for the right roles. They also touch upon the pitfalls of promoting employees without proper training, known as the Peter Principle, and how it can affect team dynamics.

Join us for an engaging and insightful discussion that not only reveals the gritty truth behind business success but also provides practical advice for entrepreneurs looking to build and lead successful teams. Don't miss this episode filled with real-world stories and actionable strategies!

00:00 The Importance of Mission, Vision, and Core Values
00:34 Welcome to Pay or Quit: The Real Stories of Entrepreneurs
01:03 Challenges in Property Management: Key Topics
01:27 Building a Championship Team: The Seven Critical Components
02:07 The Role of Core Values in Business Success
04:29 The Game Plan: Foundation of a Successful Company
05:43 From Policies to Playbooks: Creating Effective Processes
11:41 The Importance of Roles and Responsibilities
19:44 Leadership One-on-One: Coaching and the Peter Principle
24:28 Conclusion: The Realities of Running a Property Management Company

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Welcome to Pay or Quit, the podcast where Tony Cline and Shawn Johnson dive deep into the real secrets of property management—from landlord-tenant relationships to investment strategies and everything in between. In this episode, we tackle the resilience of successful CEOs, future impacts of AI on business, building impactful marketing strategies, and the ins and outs of selling a property management firm.

🔥 **Topics Covered in This Episode:**

1. The key factors that determine CEO success, based on an extensive Harvard Business Review study.
2. Understanding AI's rapidly evolving role in business and reality.
3. Effective strategies for engaging your team and adapting to changes.
4. Maximizing the value of your property management firm when selling.
5. Types of property management entrepreneurs and their unique approaches to success.

👉 Whether you're a seasoned property manager or just starting out, Tony and Shawn provide valuable insights and actionable advice to help you thrive in your property management journey.

✍️ **Show Notes & Resources:**
- Harvard Business Review Study on CEO success: https://hbr.org/2017/05/what-sets-successful-ceos-apart 
- Real-world examples and personal anecdotes from Tony and Shawn.
- The referenced video from the 2008 Election and social media companies: https://youtu.be/IzF7nBmwPso?si=RJnH8CvzgWRfB07C

🔔 **Subscribe and hit the bell icon** to stay updated with our latest content! Don't forget to like, share, and comment on your thoughts below.

#PropertyManagement #CEOSuccess #BusinessStrategy #aiinbusiness  #Marketing #realestate 

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00:00 Introduction to Vision and Communication
00:31 Welcome to Pay or Quit Podcast
00:59 Exploring the Future of Truth
06:01 Impact of AI on Business and Marketing
16:37 Planning Your Exit Strategy
25:51 The Importance of Reputation in Acquisitions
27:13 Types of Property Management Entrepreneurs
27:44 The Real Estate Agent Turned Property Manager
30:00 The Investor Turned Property Manager
31:07 The Franchise Owner's Dilemma
33:41 The Property Management Employee Turned Owner
34:25 What Sets Successful CEOs Apart
37:34 Deciding with Speed and Conviction
40:24 Engaging for Impact
43:37 Adapting Proactively
45:56 Delivering Reliability
49:07 Building Championship Teams
51:01 Episode Wrap-Up

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In this episode of the "Pay or Quit" podcast, hosts Tony Cline and Shawn Johnson dive deep into the world of property management. The episode kicks off with a discussion on the critical importance of timing when introducing value-associated fees in property management, setting the stage for a broader conversation about industry practices.

After warmly welcoming listeners and sharing their excitement for the episode, Tony and Shawn introduce the main topics: the impact of fee maxing on the property management industry, the worst kinds of property managers, and their recent book reads. They argue that fee maxing, or the practice of maximizing fees without adequately increasing value, has damaged the industry by pushing landlords and tenants away.

The hosts propose a balanced approach of "value maxing," focusing on increasing the value delivered before raising fees. They share personal stories and business strategies, highlighting practices like tenant home tutorials that add value and justify higher fees.

The episode also features a lively debate on who makes the worst property manager, with the "opportunistic real estate agent" taking the top spot. Additionally, both hosts share their top book recommendations, including titles that provide insights into business strategies, personal growth, and cultural analysis.

The podcast wraps up with teasers for upcoming episodes, promising discussions on topics like triple ties in trademarks and the benefits of real estate investing.

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Blue Ocean Strategy by Chan Kim: https://a.co/d/5GGAus6

Free to Focus by Michael Hyatt: https://a.co/d/eo4sRh6

Black Rednecks & White Liberals by Thomas Sowell: https://a.co/d/50CWXIa

The Dream Manager by Matthew Kelly:

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Navigating the Complex World of Property Management

In this episode of 'Pay or Quit', hosts Tony Cline and Shawn Johnson delve into crucial aspects of property management, emphasizing the importance of proper timing when implementing value-associated fees and the pitfalls of fee maxing in the property management industry. They explore how bad timing can leave landlords with negative experiences, leading them to either sell their investments or manage properties themselves. The discussion also covers why real estate agents attempting property management and landlords who don't treat their investments seriously make the worst property managers. Furthermore, the hosts share their insights into recent books they've read, highlighting themes like organizational growth, personal development, and strategic innovation in business. They tease future topics, including the intricacies of a specific trademark, multifaceted benefits of real estate investment, and setting effective company goals.

00:00 The Importance of Timing in Value-Associated Fees

00:21 Introducing 'Pay or Quit': The Property Management Podcast

00:45 Diving Into Today's Hot Topics in Property Management

01:44 The Personal Side: Running Ultra-Marathons and Building Value

03:45 The Controversial World of Fee Maxing in Property Management

04:23 Unpacking the Fee Maxing Strategy: A Deep Dive

07:23 The Impact of Legislation on Property Management Practices

11:40 A Personal Journey Through Fee Implementation and Its Effects

17:25 Maximizing Value: A Strategy Beyond Fees

18:24 Unpacking Value Maximization in Property Management

18:47 The Pitfalls of Fee Maximization and Its Impact

20:25 The Dream of Fluid Agreements in Property Management

23:34 The Worst Property Managers: A Candid Discussion

25:41 Expanding on the Worst Property Manager Traits

30:04 Diving Into Recent Reads: Strategy, Focus, and Insight

31:56 Personal Growth Through Literature: A Trail Runner's Perspective

35:51 Teasing Future Topics and Wrapping Up

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Launching New Beginnings: A Dive into Business Ventures

This podcast episode marks the launch of a new series where the hosts (Tony Cline & Shawn Austin Johnson), two small business veterans, discuss their personal journeys, initial meetings, and shared experiences in the field, including starting and scaling property management firms, innovating within the industry, and navigating mergers and acquisitions. They reflect on the challenges and rewards of entrepreneurship, the intricacies of building and leading teams, dealing with regulations, and the impact of government interference in the property management sector. Additionally, they explore their post-property management ventures, such as consulting and real estate investing, underscoring the lessons learned and the value of innovation, mentorship, and the human element in business decisions.

Timestamps:
00:00 Launching the Podcast: A Trip Down Memory Lane
00:17 First Encounters and Initial Impressions
02:29 The Evolution of a Friendship and Professional Relationship
03:14 The Genesis of the Podcast: Motivations and Aspirations
03:35 From Property Management to Real Estate Investing: A Personal Journey
05:57 The Helicopter Pilot Turned Entrepreneur
07:55 Scaling a Property Management Business: Challenges and Triumphs
09:24 The Birth of Homevault: A Mastermind's Vision
19:14 Rebranding and Expanding: The Story of HomeVault
21:53 Looking Ahead: Current Projects and Future Plans
22:08 Journey from Property Management to Consulting
22:26 The Art of Coaching in Property Management
24:26 Clientele and Challenges in Property Management Consulting
28:19 Exploring E-commerce and Financial Trust Accounting
30:04 Real Estate Investment Strategies and Ventures
33:39 Reflecting on Property Management Experiences
42:22 Concluding Thoughts and Future Topics

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