How to Grow Your Business in Challenging Times

Rochelle Trup, Co-Founder and CFO of Arthur shares her insight on how to grow your business throughout these challenging and uncertain times;

“The outbreak of the coronavirus has taught us that it’s important for businesses to adapt to change quickly. Inefficient systems and processes will cause businesses to fall behind; it is therefore essential to have all critical information easily accessible in one place, enabling customers to make faster decisions based on accurate information.

No matter the industry a business operates in, it is important to stand out against competitors and streamline internal processes at the very core of your business model. At Arthur we recognise letting agents’ responsibility for managing large-scale property portfolios; our revolutionary cloud-based software is integrated with features to boost efficiency and create hassle-free solutions anytime, anywhere, with easy to use mobile functionality. Ensuring your organisation enhances the efficiency of your customers will be crucial to the overall success of the business.

Our mission is not only to save letting agents hundreds of admin hours, through the provision of streamlined communication between landlord and tenant on self-service apps, but also to set their business apart by speeding up the ‘onboarding’ new tenant process, with one-click vacancy postings via Zoopla, Marketplace, Rightmove and more. Arthur also helps employees of letting agencies to keep track of tasks and checklists with its embedded pre-existing automation module. This means if any employee is on sick leave or required to isolate, the team is able to stay on top of the administration on their behalf.

Consumers are at the heart of every business and a key factor in ensuring successful growth within the current climate. It is extremely important to establish the specific needs and desires of your customers to not only make sure they feel valued in the purchasing process, but also for the longevity of their brand commitment. Customer loyalty will be further reinforced with a sense of flexibility in your offering and evolving your product to align with the government’s advice will add to their overall satisfaction.

Following the outbreak of Covid-19, the government has called for improved communication between landlords and tenants so they can work together to find solutions to slow down the number of cases. We responded to this guidance with the launch of our Covid Profile, a powerful tool for letting agents to guarantee the safety of tenants and contractors and we have been pleased to see so many letting agents prioritising the health of their customers, ensuring this software is accessible to all. The Covid Profile features options for tenants to flag if they are self-isolating, have symptoms, been in contact with someone who has tested positive in the last 14 days, as well as anyone in the household considered at risk.

As part of our commitment to continuously enhance the service offering for our customers, Arthur is the only full suite property management company to deliver a live bank feed directly integrated into the software. This exciting new function enables property managers and landlords to streamline their accounting and efficiently manage finances for an entire property portfolio. The live bank feed will provide much-needed flexibility from its direct integration with the software for full visibility of the state of accounts, anytime, anywhere. With all data stored in one simple and secure system, the live bank feed will also give landlords the ability to make faster comprehensive decisions and reduce the risk of errors caused by outdated processes and crosschecking multiple sources.

The uncertainty around social interaction, particularly when considering the office space, means digital innovation has never been more important. The digitalisation of administration processes, in conjunction with the widespread use of technology throughout operations systems, enables stronger relationship development, both internally and externally. By digitalising key aspects of your business model – such as the way customers interact, communicate and consume – your products and services will be transformed and revolutionised.

With a national ‘stay at home’ order deployed; it is immensely important to foster strong relationships with your team whilst working remotely, to not only boost morale, but increase company productivity and ultimately grow your business. This can be achieved, by offering workplace flexibility, and adapting workplace standards to reflect the cultural shift that has occurred within your team environment, such as prioritising mental health, regular check-ins with your employees to establish their individual needs and identifying any gaps or issues within the day-to-day administration of the business.

It is important to remember that these are unprecedented times and there is so much going on in the world that is out of our control. If you can stay motivated, whilst continuing to provide support to your employees and customers, that is a fantastic achievement in itself.”

About Rochelle Trup:

Prior to Arthur, Rochelle spent 30 years in investment banking and building businesses. In 1998, she founded a property investment company, and has since acted as CFO for two start-ups. Rochelle’s personal experience, managing a portfolio of more than 100 privately owned rental properties, confirms her commitment to, and deep understanding of, the UK property market.