Jim Devos is the type of business leader and entrepreneur that any employee who takes pride in their job would love to work for. Jim's career started in the airline industry with Piedmont Airlines, where he honed the skill of team building, opening up 3 hubs and 70 new markets. He then went on to work as an advertising exec for 17 years, and got to witness the the tail end of the Mad Men era of agency life and the days when 3 martini lunches were the norm.
Jim's experience in sales and marketing ultimately led him to open Best Beach Getaways in 2008 with a partner, and within one year they managed to grow to 100 units under management. While this growth was impressive, their limited understanding of the operations side of the business quickly caught up with them. Jim recalls some of the struggles during this time, which fortunately led to great victories on the other side - including a portfolio that now includes 460 prime oceanfront condos in the Florida Panhandle.
Topics we also cover:
1) Keeping employees happy, and how long term retention has enabled their success
2) Why profitability and managing your margins is so important (hint, you can pay people more, which helps with #1 :)
3) Acquisition strategies, and importance of how they are structured
4) Software challenges, and why they decided to build their own systems
5) Jim's brush with fame!
Watch episode on YouTube here: https://youtu.be/EsUodnofoHg
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