All right. I'm good to go. One guys. Looks like i'm yeah, too much stuff going online right now.
Hazards of having on your kids home on doing virtual learning or well, on their computers on their chromebooks doing there. Zoom classes. So, taking up some bandwidth today, so hopefully I don't lose. You will stay on track here.
Uh, hopefully everyone's doing good. Get start to the week so far, uh, sitting down today. That's kind of funny. I might do these daily lives that honestly I e don't know. I'm gonna talk about about five minutes before e sit down and see what's going on in the day, but yeah, today I remember today is the s p o. A virtual conference thing they have going on, and it starts, like, right now.
So i'm gonna take too much every time. If you guys are attending that, i'm gonna go check it out myself. But, you know, I was just thinking of today with their virtual conference.
I just brought back some memories of my first conference that I was doing, uh, this going back in the vault here. It's going back a few years. Uh, real quick I used to work for extra space. That was my was my first gig in the storage again. I was 21 spread it to 21 and became a manager for them and ran two properties.
I lived and worked at one site, and I ran another location as a satellite location. And that's before, and technology was really around to be able to make that pull that one off.
But we figured it out duct tape and chewing gum, and we kinda pieced everything together and we got it to work. So that was kind of my first introduction in the storage with back in the extra extra extra space days.
That's when they were little extra space, in fact, their their main headquarters, about 15 minutes from my house. So I live right by him, eh? So it's been kind of fun watching, you know, back then, we had, like, 20 sites just to see what it is now. So it's been kind of fun, a fun to watch that journey, but anyway, I was a manager with them.
They had a conference conference, a contest that they were doing with all the managers. I said level 20 of us. Way had at that time, and you want they were quick.
And I think the contest was measuring cem kp ice key performance indicators not figured exactly what it was right now, but it was it was based on percentages off. You know how many units you have and the revenue you brought in your closing percentages and, you know, all that kind of stuff.
And they made it try to make it as much equal footing for all of them. You know, like I had 500 units. Some people had 300 unit facilities, it that kind of thing. So they try to make it all even best they could.
Anyway, I ended up winning this contest, and the winner got a chance to go to orlando to go to the first. Uh, this was my first stories conference, I believe, was whether it was the ss a could be wrong. I believe it s a conference, and I want I remember thinking, okay, storage conference, ways to get a free trip to orlando.
This is gonna be boring, you know? And I remember thinking I was like, there's this conference yourself storage like you kidding me that says, gosh, what a bunch of nerds.
Well, 20 plus years later, i'm like king of the self stores in there, so it's kind of funny to see how how that all played out. But yeah, it's time for the conference.
I always remember that that day of like going to the airport because usually i'm the one that's like at the airport, like, an hour early. They constructed there on time. And, you know, i'm not gonna be late.
It's not rushing. There was all this road construction going on here in utah. We were getting olympics that year. And so there's this road construction everywhere.
I didn't account for that, and I got caught like construction. I remember thinking, oh, my gosh, my flight takes off in 30 minutes. I got to go and i'm 40 minutes away.
All stressed out as one of the things like in the movies, you know, I went through, got there, went through security and I e was booking. I was running so hard, it was like it. Don't be late, you know, my boss was there on the plane is like, don't miss this flight like that's that it won't be a good look.
And I last one is once things like literally got through the thing and he shut the door behind me. Last second, i'm just tripping.
E couldn't breathe. And my my, uh, boss was sitting there first person I saw when I walked in and said, price in first class and they didn't say a word that was kind of communities were, like, just shook their head like, oh, boy, that was a that was a bad first impression there, but yeah, we walked in the doors, went in, got orlando, walked the doors of the convention all on again. I'm just thinking it's gonna be a snooze fast. It's a bunch of storage nerves, but whatever.
Let's just let's get through this. And i'm gonna play at the water park. And it was the first person I first speaker. Remember who it wasp. I remember the first speaker sat down.
I was a good boy, was taking my notes, and they just happened to just, you know, off the cuff. It's kind of say mention the stat, you know, you know, 10% of all households households, 10% of all households.
I could talk today. You storage and I was like, wait, what? You know, I never heard that before.
Maybe everyone else's knows that by now. But I didn't know that, uh, back in the day, so I remember writing that down, and I didn't really hear much else after that, because my brain is kind of focused on that for a second.
And I started kind of reverse engineering some numbers, and I i kind of guessed the numbers were like, well, how many households are in my three mom market three miles and so I kind of basic numbers off this, and I figured it out more once I got home again, I couldn't just look online because this was the before the internet.
Yes, i'm all the boys and girls on. All right, so this kind of some rough numbers, uh, and I just started like, just, for example, was like, 35,000 households in my three mile market.
And that's premature. It waas and I had well, how many years do I have? At that time, i'd roughly 500 units that I was, uh, manager of between the two properties and the great well 500 units divided by 35,000 households. That's 1. 5% cool.
All right, it's 10% of households in my market already need storage. And i'm not trying to convince them become story. Not that they're already in need of storage or using stories. What have you I don't need 1. 5% of that market.
All right, well, what do I have to do? Uh, to get everyone's attention. And that kind of that simple question that I asked myself, what do I have to do, thio stand up my competition to get that 1. 5% to store with me, be on the street?
Yeah. Can that question that kind of put me on this journey on the path of putting the systems in place. You know, when it comes thio having that miss set of want to make sure that they're calling me in the first place before they call the competition.
Cool. Well, now wants to calling me. What do I have to do to get those conversions? Um, and so with those get those conversions, that's, you know, the sales process. Now i'm acting on the phone.
Okay, now they're here. What kind of you know, increase my revenue to make sure I billed as much revenue as I can and maximizing each the value is customer because then that's gonna feed itself into my property of capital expenditures. And paying me is a bonus and further marketing.
And this kind of started working together. Um, but it was all based off that one little simple question. You know, when I found out 10% of all households you store tonight, right? Reverse engineered. How much of that percentage is I needed to store with me does end up being 1. 5%
Like cool. And then is asking that question right now that I know that what you have to put in place to make sure I can set myself up for success through get those people to choose me and I just kind of look back on him like that one little simple idea that one little spark kind of started me on my journey.
And here we go, 20 plus years later, e doing this and kind of giving it back and then building my own company. It's it's kind of fun. This kind of looking back on that so kind of want live with leave you with that today.
You know, you got some virtual conference going on. It seems like there's there is trainings all the time. Online way. Don't have to wait anymore for, you know, the national biannual conferences that air happening on the state shows or something like that.
With koven, we're all forced to do everything online, and it kind of gives everyone a lot more opportunity, especially managers.
Because, quite frankly, let's be honest. Use its's owners, developers going to these conferences. Managers there left home minded, intending business, you know they can't close up and take a day off and go to these shows are all sort of days.
Be honest. It's like three or four or five days all sitting down the travel time back and forth. You can't do that.
So I know most managers don't have the opportunity to go to these things that z that's the people that need to be going to these conferences, quite frankly.
So. Yeah, take advantage of it. You know all this being online now? I think it's amazing. Um, yeah, spend the time and listen to these people are in these conferences and then that kind of networking because it might be just like me. Sometimes you'll hear one little idea, one little spark, and that might put you down a path of, you know, utilizing that in your own business and your own storage business. And all of a sudden, cool. You're a lot better off than you were the day before.
Just one little idea. So I believe you with that guys again. Thanks so much for taking the time tuning in, being a part of this, describing in the podcast watching the shows means a lot. So again, if you haven't subscribed already.
Yeah, the self storage show. Please subscribe. Like it? What do you want to do? Reviews and all that kind of stuff. It feeds on itself.
It's rebuilding something pretty fun here, so I like it. Thanks so much, guys. I will talk to you soon. Take care
Quick story about my experience at my first self storage conference.
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