Recently had the pleasure of hosting Eser Yildirim from Flock on the PM Collective podcast. Flock is a unique company based in Washington DC that specializes in property management and related services. They manage individually owned condos, row homes, and single-family homes through their subsidiary, Nest DC. But what truly sets them apart is their philanthropic wing, Bird Seed, which provides grants for minority families and first-time homebuyers.

The Structure of Flock

Flock is not your typical franchise. It's a parent company that ties all its subsidiary companies together. The founder and owner of Flock, Lisa Wise, has created a structure where each subsidiary has its unique role. For instance, Roost DC, another subsidiary of Flock, is an employee-owned company.

The Power of Branding

One of the things that struck me about Flock was their clever use of bird-related terms in their branding. Terms like "mother bird" and "bird seed fund" not only make their brand memorable but also create a sense of unity and purpose.

Funding the Bird Seed Fund

When I asked Eser about how they raise funds for their grants, he explained that they contribute a portion of their profits, receive donations from business partnerships and clients, and are constantly looking to grow their funding sources. The grant application process is open to a wide pool of people, and they aim to approve as many applications as possible.

The Importance of Training and Onboarding

Our conversation then shifted to the topic of looking after the team that cares for properties. Eser talked about the importance of training and onboarding new staff members. He believes in starting from zero and assuming that new hires know nothing. This approach allows them to showcase their experience while also refreshing their knowledge.

Flock uses a specific training platform for each employee, broken down by day or week, and assigns different team members to cover specific topics. Regular one-on-one meetings with staff are also a key part of their strategy, fostering open communication and trust.

Being Approachable as a Business Owner

Being approachable as a business owner is important and many may not realize that they come across as unapproachable, which can create a barrier between them and their employees. Eser believes in creating an open office environment where employees feel comfortable asking questions and seeking help.

At Nest DC, they have a mix of private offices and open office spaces. Even with a private office, Eser makes an effort to be approachable by keeping the door open and waving at people as they walk by.

Leading by Example

Being involved in the day-to-day operations of the business and leading by example is crucial. I mentioned a TikTok video by Dave Claire, who emphasizes the impact of a motivated leader on the productivity of the team. Business owners who are not interested in the core aspects of their business can negatively affect the motivation and performance of their staff.

Recognizing Problems in the Workplace

I asked Eser how they would recognize if they were the problem in their business. He mentioned that turnover and employees leaving for similar positions can be indicators of a problem in the workplace culture. Conducting exit interviews and 360 feedback are also important tools to gather insights and address any issues.

The Concept of Allowances for Mistakes

Finally, we discussed the concept of allowances for mistakes and errors in different industries. In the restaurant industry, there is usually an allowance for things like rotten food and stolen goods. Eser believes that in real estate, there is also a need for allowances, but it is not openly discussed. Taking ownership of mistakes and resolving them for the satisfaction of clients is crucial.

Open conversations between business owners are essential for growth and improvement. Eser's belief in trading ideas and collaboration resonates with me, and I hope it does with you too.