The Digible Dudes 156: EP156: Scaling, Profitability, and The Hard Truths of Multifamily Industry

Welcome to episode #156 of the Digible Dudes Podcast with your hosts, David Staley and Reid Wicoff. In this episode, we reflect on the key business lessons learned in 2023.

We discuss the importance of defining success metrics for a business and different budgeting approaches clients are taking in response to economic shifts – some are aggressively cutting costs while others argue for the need to increase marketing spend. We then touch on the value of in-person events versus virtual ones, the importance of gaining individual agreement in meetings, and reflections on hiring and HR. We also explore skepticism around AI applications, especially in the multifamily space.

To wrap things up we discuss balancing company growth and profitability, the misalignment of goals between marketing and operations, rising expectations on digital marketing competency, and being ruthless about time management.

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(00:00) Preview and Introduction

(02:30) Determining success metrics

(06:45) How To Approach Budgeting The Right Way

(12:23) The Real Benefits of In-Person Events

(18:18) Validating Business Theories

(21:57) What Are The AI Applications in Real Life?

(29:00) Rising Expectations on Digital Marketing Services

(35:36) Laser Focusing on Core Competencies

(39:30) Questioning Institutional Thinking

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