Today your host Brad Larsen and his guest Phil Mazur discuss The CFO Mission, working with RentWerx and implementing their EOS system that Phil helped with and the changes that have seen over the last two-and-a-half years, plus much more on this episode of the Property Management Mastermind Show.
Listen as Phil and Brad discuss the issues RentWerx had two-and-a-half years ago because some poor hires and lack of good people keep the checks and balances in place. After looking over the accounts and seeing what was wrong, they dissected the problems and began fixing them piece by piece. Brad also hired a local accounting firm to help put together procedures that would integrate with the systems they already had.
Phil and Brad talk about EOS, Phil being an EOS Implementer and the benefits of having an EOS system in your business. Phil shares what you can expect from your EOS system and what the role of an implementer is. EOS has twenty tools, and the beauty of the tools is that these are what make decision-making simple.
Remember to register for the Property Management Mastermind Conference, where you will learn more about EOS from Sue Hawkes on the main stage and in the much smaller group meetings.
**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX. For more information, go to PMMCon.
In this episode:
[02:07] Welcome to the show, Phil!
[03:44] Phil shares how he fell into property management accounting about seven years ago.
[05:57] Phil speaks about being a virtual CFO.
[07:18] Listen as Phil shares where RentWerx was two-and-a-half years ago when they didn’t have good checks and balances in place.
[09:43] They slowly dissected what was wrong and then began fixing the company piece by piece.
[11:46] Phil talks about learning how Brad’s operation ran before he could tell how the accounting was done.
[14:17] You don’t have to do everything in-house; you can outsource some procedures.
[14:55] Phil speaks about integrating the NARPM Accounting standards.
[16:20] Phil discusses hiring and then hiring again for the accounting coordinator position at RentWerx.
[20:29] Phil talks about some issues that came up once they had some processes in place.
[22:57] Brad shares a decision point example.
[25:02] Phil speaks about the EOS system that was integrated into RentWerx.
[28:33] Brad says that the EOS system empowered the team and gave the key leaders an outline of running the business themselves.
[30:35] Phil wants to talk about the role of an EOS Implementer.
[32:22] EOS is a process because it is a business system.
[33:04] The biggest value Phil provides as an implementer is to catch you in the act of getting off track.
[35:19] Phil talks about what they accomplish in their annual strategic meeting.
[38:05] If your mission statement or core focus isn’t working for you, Phil can help you with that.
[41:08] Brad shares one of his goals for the first quarter of this year.
[43:37] They assess each of their goals with a yes or no to see what they have accomplished.
[45:51] EOS has twenty tools, and the beauty of the tools is that this is where you make decision-making simple.
[47:56] Brad feels so strongly about the EOS system that he has added it to the PMMCon Conference this year.
[49:41] Phil’s passion is to bring a CFO to every small business.
[52:01] Thank you for being on the show!
Links and Resources:
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)