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Why the one per cent rule could help your business

Tuesday 27 March 2018

Vouch director Kevin Gaskell says that the platform has now "Vouched For" its 10,000th tenant.

"The system has enjoyed a fantastic launch and is going from strength to strength. It really is a brand new way to perform tenant referencing, combining technology with the convenience of outsourcing and also with the added flexibility of controlling the data in house"

How a conversation about horses led to a new way of thinking!

Kevin recalls a conversion with his daughter that led to a change in his business approach:

“My daughter rides competitively and was trying to convince me to buy a new piece of equipment which she had been told would provide a five per cent improvement in performance. Five per cent I thought? For that price! 

"I decided to discuss that with her trainer, who was absolutely unequivocal in her response."

"Five per cent?" she asked incredulously. "You should be happy with a one per cent increase in performance! All of those one per cents' add up, and any improvement should NEVER be overlooked.”

Kevin explains why, since that conversation, he has taken that ethos into all areas of his business:

"We call it the one per cent rule. If something can improve profitability by one per cent, either by driving revenue or stripping out unnecessary costs, it is acted upon immediately."

"It’s thinking like this that we hope will lead to many more years of success for our agency.

As a Propertymark agent first and foremost, as well as being a director of Vouch, Kevin says that his list of priorities for 2018 are clear:

  • Ensure GDPR compliance
  • Identify any potential cost savings prior to fee ban
  • Identify any potential new revenue streams
  • Drive awareness of why Propertymark membership provides huge benefits for landlords

Help is at hand for your business

2018 and beyond will provide big obstacles for agents but from adversity comes opportunity. New more modern ways of working and thinking will be essential as only the forward thinking agents will survive.

If you would like to discuss how your business can potentially make cost savings whilst also creating revenue contact Vouch today on 0330 333 7272 or visit their website- www.vouch.co.uk - to arrange a demo.