Establishing a core focus ensures you don’t get distracted by what others are doing or end up chasing the “shiny object.” It helps drown out the noise around you that doesn’t align with the company’s vision.
At 52TEN, our core focus is mobile home park investments, which provide recession-resistant cash flow for our network of private investors. That’s all we do.
The right people are those whose skill set and personality are a perfect fit for the role and who share your company’s core values. This will ensure their success and increase the likelihood they will thrive in your culture.
Our team hires and fires around 52TEN’s core values. This approach has helped us build an amazing team that is pulling in the same direction, with each person accountable for hitting their numbers.
Without accurate data, businesses tend to operate on opinion and impulse. However, with the correct data and a scorecard to track weekly updates, you can have your thumb on the pulse of your business and see real-time patterns, which lead to smart decisions.
At 52TEN, we set clear expectations so each team member knows what is expected of them on a daily, weekly, and monthly basis. These expectations are measurable and quantified by a number that allows everyone to keep score.
When everyone delivers on their number, the long-range plan comes to life in a predictable way. And when something is off track, it is easy to notice and quickly remedy before it becomes a problem.
Issues are the obstacles that get in the way of accomplishing the company’s goals and vision. Unfortunately, most entrepreneurs are so overwhelmed with firefighting that they don’t have time to uncover the root problems.
Our team identifies the most critical issues during our weekly meetings, discusses them, and solves them permanently. This allows us to be proactive and prevent fires rather than reactively fighting them.
Every company should have core processes that are linked together via a system. This unique way of doing things can be consistently applied and refined, giving you the option to duplicate, scale, maintain, or sell the business.
At 52TEN, we have established processes known as “The 52TEN Way” for each business component. These processes allow us to scale the business and acquire the next property in a very predictable manner.
Humans have a short attention span and tend to lose focus beyond 90 days. To retain focus and momentum, it’s critical to pause each quarter to remind yourself of the company vision and the one-year plan. Breaking down the year into short, 90-day bursts that are manageable, yet achievable, keeps the business moving forward toward long-term success.
Our teams establish new, smaller goals each quarter that are aligned with the overall vision and larger annual goals. During the quarter, each team member participates in a weekly meeting, where we review the goals, report on the numbers we are accountable for, and discuss issues that have gotten in the way. The result is “traction” toward measurable results for the business, the portfolio of properties, and our investor returns.
A Key Factor to 52TEN’s Success
When we look back at the success we and our investors have experienced, it’s clear a key contributing factor has been the EOS business architecture. Without it, we certainly would have dedicated far more resources to putting out fires instead of what we really do here at 52TEN: deliver the best experience.
As applied to running a real estate investment fund, this proactive method allows for the planning, execution, and control of every component of the business, down to the smallest detail at each property.
With EOS as the framework, our team continues to outperform projections in our first fund as we build a portfolio for our second fund, all while delivering the best experience our investors have ever had.
This content is the perspective of the author and is not intended to be relied upon as a forecast, recommendation or investment advice, and is not an offer or solicitation to buy any securities or to adopt any investment strategy. The information and opinions contained in this content are derived from experience, historic data, and other sources deemed to be reliable, are as of the date of this content, and may change as subsequent conditions vary.