The purpose of the interviews listed in this exercise is to determine who is considered to be within the boundaries and who is outside of the boundaries as it pertains to our business opportunity.
Interview #1
The investor is not interested in hiring a new vendor as he has a company that manages all of his properties and they have developed and working relationship that is mutually beneficial.
Interview #2
The individual is a seasonal resident who is not interested in hiring a property management vendor due to the fact that he owns a condominium and performs a shut-down when he leaves for the season. Furthermore, the association has a key to his unit should an emergency arise. Therefore, he feels as though there is no need for our services.
Interview #3
The investor rents out his units without the assistance of a real estate agent and he maintains his properties himself. He states that he wants to realize more of profits and this is the reason why he does not hire out these services.
Interview #4
The real estate investment company manages the short-term rentals themselves and does not have the desire to outsource the work. They feel that they are able to retain more of the profit is they keep the work in-house.
Interview #5
The homeowner does not see a reason to be proactive and hire a property management vendor as they do not foresee any reason to be away from their primary residence for an extended amount of time.
Summary:
While there are many potential customers in the market, not all are interested in our services. The main reason from this small sample appears to be satisfaction with their current vendor or the associated costs of the services.
| Inside the Boundary | |
| Who is in | Residential property owners |
| What the need is | Someone to manage their investment(s) |
| Why the need exists | Most owners with two or more properties do not have the available time |
| Outside the Boundary | |
| Who is not | Commercial property owners |
| What the need is not | Dedicated handyman or repair service |
| Alternative explanations | Some individuals rather take care of their own properties to reduce costs |
Hey Jeremy,
ReplyDeleteI think the interviews that you summarized will serve as a good starting point. Not everyone will be interested in the services provided but this should not prevent you from going through with this opportunity. I believe this opportunity exists and the need is still there. Once the service gets a good reputation, these interviewees may change their minds. Great post!