In your own words, what does your company do?
TenantCloud helps landlords and tenants meet, and manage the rent, and their relationship.
📈 Monthly revenue: $1.6 million per month
📈 ~% Churn: 2%
📈 ~% Net profit: 25% EBITDA
📈 Funding: $2.5 million
📈 Initial cost/investment to start the company $250,000 out of my own pocket
📈 Number of team members: 250
📈 Number of founders: 1
📈 Started 2016
How does the company make money?
We have a number of ways in which the company generates revenue:
💰 Monthly or annual subscription.
💰 Individual products sold on the platform like background checks.
3 strategies that have worked to attract and retain customers?
✅ Focus on Product: we are a product-focused company and therefore we use it as landlords ourselves. Bringing one of our own users helps us understand the customers’ problems better.
✅ Customer support lead: Our customer support team leads our product roadmap, so we are listening to customers directly.
✅ Leads: the products help bring leads to landlords so they can get their property rented and produce income.
3 things that you’ve learned about hiring and retaining great talent?
✅ In looking at new team members the first review isn’t their talent, skills, or education – they will fit the culture. We have found that we can teach almost anything, but attitude.
✅ When we hire a new person we ask them to rank the following questions from top to bottom with the highest being the one with the most important; my immediate family, my extended family, my friends, my ethical responsibility to society, my courage to stay true to my beliefs, my dedication to work, my dedication to quality of work I do. We are always suspicious of candidates who select anything, but family, family, and friends for the top 3 :).
✅ I have also found that playing sports with people is a great way to recruit talent. No matter the sport (basketball, video games, chess, bird watching, etc. people become the core self and you can observe a great deal about them. Selfish tendencies come out bas sportsmanship, egos, etc. I am always observing people and how they treat others and winning brings out the best and the worst in us.