Cathie Crampton: 10 lessons on scaling a profitable PM business and how to balance calm with innovation

Elevate: The Official Podcast of Elite Agent Magazine

A visionary in the property management space, in this episode of the Elevate podcast, hosted by Samantha McLean, Cathie reveals true leadership is about long-term strategic development, embracing change and setting rhythms that keep you calm and focused.

She takes a deep dive into how building a flexible operating style has been a game-changer for her career and how leveraging AI to streamline property management tasks can transform business models and results.

Cathie also shares insights on why she’s back at Belle Property, the best PM software for today’s market, why you need to understand and manage P&L to scale your business and how to make cool, calm and confident business decisions.

She also offers some wise words on how to get your team performing at its best, three things new leaders should do in their first 30 days and fostering an innovative culture that resonates with younger generations entering the industry.

“When you feel your life is getting out of control, or your leadership, or you’ve got 10 million things going on, and you’re being asked to make a decision, you can just bring it back to that core rhythm and it just allows you to centre and be calm.”

10 things you’ll learn in this episode:

1. The importance of building rhythms into your life and operating style.
Timestamp: 3-minutes.

2. How to stay calm when speaking at industry events.
Timestamp: 5-minutes.

3. The innovative ways AI is being used in property management.
Timestamp: 7-minutes.

4. Why maintenance is a “dead space” in property management and how to fix it.
Timestamp: 10-minutes.

5. How to scale your PM business and optimise your expenses.
Timestamp: 12-minutes.

6. The first jobs that shaped Cathie’s leadership style.
Timestamp: 19-minutes.

7. The one leadership trait crucial for success in real estate.
Timestamp: 23-minutes.

8. How to adapt leadership style for younger generations.
Timestamp: 24-minutes.

9. Three things new leaders should do in their first 30 days.
Timestamp: 30-minutes.

10. Three immediate actions to make your business more profitable.
Timestamp: 37-minutes.

Links

Connect with Cathie Crampton
The First 90 Days Proven Strategies for Getting Up to Speed Faster and Smarter
Never Split the Difference: Negotiating As If Your Life Depended On It
The Diary of a CEO

Detailed Episode Guide

In the dynamic world of property management, achieving a balance between calm and innovation is essential for success. Cathie Crampton, a visionary leader in the property management sector, shares her insights on scaling a profitable business while maintaining tranquillity amidst challenges.

The Power of Rhythm Over Routine
Cathie underscores the importance of incorporating rhythms into life and business operations. Unlike rigid routines, rhythms offer flexibility, allowing leaders to centre themselves and stay composed when facing demanding tasks. This approach promotes a consistent and adaptable mindset.

Reconnecting with Your Roots
Returning to her first workplace at Bell Properties, Cathie highlights the value of working with a supportive team and engaging in work that excites. She believes that setting ego aside and fostering meaningful connections enhances both personal and professional fulfilment.

Navigating New Challenges
Moving back to Sydney, Cathie acknowledges the challenges of adapting to a bustling city. By embracing small changes and maintaining a flexible mindset, she successfully navigates these challenges, demonstrating resilience and adaptability.

Mastering Public Speaking
Cathie offers practical advice for staying composed during public speaking engagements. Her approach includes following established preparations, managing energy levels, and embracing the content she shares. She encourages speaking authentically about topics of passion, which naturally resonates with audiences.

Embracing Artificial Intelligence
Experimenting with AI, Cathie recognises its evolving role in property management. From qualifying leads to managing repairs, AI supports streamlined processes, enhancing business efficiency. This innovation is crucial in optimising time and resources, especially in areas like repairs and maintenance that often have limited profitability.

Transforming Maintenance Models
Addressing the cost challenges of repairs and maintenance, Cathie suggests re-evaluating pricing models and leveraging technology. By implementing automated platforms and focusing on scalability, property management businesses can better manage unproductive areas and improve profitability.

Leveraging Technology for Growth
Cathie emphasises the importance of selecting the right technology platforms. For smaller businesses, adopting software that automates processes and enhances efficiencies is vital for sustainable growth. Strategic acquisitions and partnerships can further accelerate progress.

Inspiring the Next Generation
Recognising the expectations of younger generations entering the workforce, Cathie fosters innovative, engaging environments. Building rapport through feedback and collaborative projects strengthens team dynamics and ensures continuous growth and development.

Onboarding with Purpose
Cathie underscores the importance of thorough onboarding for new team members. An eight-week process facilitates a comprehensive understanding and integration into the company culture, ensuring employees feel supported and empowered in their roles.

Building Resilient Teams
Fostering a culture of open communication and shared goals encourages team engagement and retention. Cathie believes in involving teams in goal-setting and vision-building, creating a sense of ownership and commitment to the company’s success.

Summary
Cathie Crampton’s insights underscore the importance of adaptability, strategic innovation, and fostering strong relationships within the property management sector. By embracing these lessons, businesses can thrive, creating an environment where both leaders and teams flourish. As Cathie wisely advises, “Have fun and enjoy it. Like what you do, and the rest will follow.”

FAQ on scaling a profitable PM business and how to balance calm with innovation with Cathie Crampton

1. What are Cathie’s top strategies for managing a property business effectively?
Cathie emphasises the importance of rhythm over rigid routines, leveraging technology, building resilient teams, and nurturing strong relationships. She believes these elements create a balanced, profitable, and adaptable business environment.

2. How does Cathie use rhythms in business?
Instead of strict routines, Cathie advocates for rhythms that offer flexibility. This approach helps business leaders stay grounded and manage overwhelming tasks with a calm, adaptable mindset.

3. What role does technology play in Cathie’s approach to property management?
Technology is central to Cathie’s strategy, especially for automating processes and improving efficiency. She highlights the role of AI in managing leads and repairs, enhancing time and resource allocation within the business.

4 .How does Cathie suggest approaching repairs and maintenance in property management?
Cathie recommends re-evaluating pricing models and implementing automated platforms to streamline processes. This approach can reduce costs and improve profitability, especially for services like repairs, which often have narrow profit margins.

5. What advice does Cathie give for effective public speaking?
Cathie advises maintaining composure by following pre-set preparations, managing energy levels, and embracing the content. She encourages speaking from the heart on topics you’re passionate about, as it resonates better with audiences.

6. How does Cathie recommend fostering team engagement and resilience?
She promotes a culture of open communication and shared data, where team members are involved in setting goals and building the company vision. This inclusivity fosters a sense of ownership and commitment to success.

7. What insights does Cathie share on onboarding new team members?
Cathie believes in a thorough eight-week onboarding process that introduces new team members to company culture and operations. This approach ensures employees feel well-integrated and supported in their roles.

8. What is Cathie’s perspective on inspiring younger generations in the workforce?
Cathie values creating an innovative and engaging workplace for younger employees. She believes in building rapport through feedback and collaborative projects to foster team cohesion and support continuous growth.

9. Why does Cathie highlight reconnecting with your professional roots?
Reconnecting with her first workplace reminded Cathie of the value of working with a supportive team and finding meaningful work. She suggests that leaving ego behind and prioritising purpose-driven connections enhances both personal and professional satisfaction.

10. What does Cathie say about embracing change and adaptability?
Cathie views adaptability as essential in today’s property management landscape. Whether it’s relocating or taking on new challenges, she stresses the importance of maintaining flexibility and resilience to navigate change effectively.

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