On the heels of the 2008 economic downturn, financier Nathaniel Korn was scoping the Miami market for his next profitable business venture. With what Korn calls a cocktail of good fortune and business intuition, he soon launched IMAIM CAPITAL to identify, acquire and manage commercial real estate opportunities for institutional/accredited investors and family offices. Concurrently, Korn launched two additional complementary businesses: IMAIM LEASING and IMAIM PROPERTY to service the investment portfolio. He enjoyed rapid success but like many high growth firms, there was little time to develop or implement systems for his growing team.
The Big Question
How can I put a system around this? And how can I delegate responsibilities to others by setting expectations and designing roles they are proud of?
In order to develop solutions to IMAIM’s two big questions, the BryteBox team invested time meeting onsite with the team to understand their day-to-day business operations. Identifying key roles and the activities that ran the business was the first step to seamlessly streamlining workflows. The second step entailed the BryteBox team creating standard operating procedures, an organizational chart, and methods for organizing and managing tasks. Finally, and perhaps most tactically for the IMAIM team, BryteBox customized Salesforce and trained all employees in how to best use the software for their particular role whether for property management or investment deal flow.
“The ‘before-BryteBox and after-BryteBox’ of how we do business has been transformational on a daily basis to say the least,” says IMAIM founder, Nathaniel Korn. “Not only am I able to solely focus on higher level growth opportunities, my team is enabled and empowered to serve our clients the way I had envisioned from day one of the firm.”
IMAIM CAPITAL and its two sister companies transitioned from the disorganization of high growth into the stability of a data-driven firm. The team now makes informed decisions on data received from their customized Salesforce application. Equipped with a system for documenting their conversations, each employee holds full ownership of their vendor and client relationships. As a result, the firm’s relationships have notably strengthened through clearer communication.
“Nathan created a business to reflect his own ideals: “capitalism for good,” consistent improvement and employee development. Our role was to create the bridge between these ideals and daily operations so employees would truly be empowered in their lives and in their role, which were both important to Nathan. From the start, we built solutions alongside the IMAIM team by brainstorming, creating, testing and tweaking at every step. The buy-in was truly built-in. The rapid positive results for the team speaks toward the collaborative approach that clients recognize BryteBox for.” – Brad Wells