It’s that time of year again. Our fiscal year just closed and like I’ve done every year, at least for the past 6 years (since 2007), I’m posting our sales revenues graph and highlighting some of our achievements over the year. And like every year before, with no exception, this year we achieved another record fiscal year!!
But before I begin, here is the link to all the previous years posts:
- LandlordMax 2011 – Another Record Fiscal Year!
- LandlordMax 2010 Best Fiscal Year Yet!
- A Year in Retrospect
- LandlordMax Revenues Update
- Status Update
- LandlordMax Sales Revenues
- LandlordMax Sales Revenues
First things first, this is our 10th year anniversary!! It’s amazing to think we’ve been in business for 10 years already. That’s a long time in the software world. So firstly I will self-congratulation LandlordMax for its 10th year anniversary.
Getting back to the post, to all those naysays that say desktop software is dead, it’s very well and alive!! In some categories owning the software and your data is much better than using a web based hosted subscription service. It can actually significantly lower your risks and costs compared to a hosted subscription service. Yes I’ve talked about this a number of times, but for those who are new, when it comes to the critical data of your business, where losing the data is not an option, hosted services can come with very high unexpected risks as I’ve outlined in this previous article. There’s also a new article that just just came out titled The Unprofitable SaaS Business Model Trap which I recommend reading that explains why we see so many hosted services come and go. So although SaaS have pros most people kinda forget there’s one very very very big con that comes with them until after it’s too late to do anything.
And now onto our achievements. This year our biggest achievement has been the release of the all new LandlordMax Network Editions of the software! In addition to these Editions, we’ve also added some new features to the Desktop Edition to match the new Network Edition (which is included as a free upgrade for existing users of the 6.05 Desktop version). The release of the Network Editions has been our biggest ever in terms of effort and scale. We’re very excited by it and we’re already seeing a very noticeable impact. It’s only been a little over two months and we can already tell that next fiscal year is going to be exciting.
Above the software of course we’ve also had to implement a whole slew of other items. For example the website purchasing system has gone through some major changes and improvements to support the new Editions. The user manual has been updated. Basically everything that goes along with such a major launch has also happened along with the release itself.
Beyond that, and I hate to admit this, we didn’t execute many new additional marketing initiatives this fiscal year. Most of our efforts went into getting the Network Editions released. This was a big effort. I know I’ve said it before that a lot of work went into it, but a LOT of work did go into it. As a result a lot of our other initiatives were put on hold as we re-allocated efforts to the release of the Network Editions. For example marketing projects were transitioned to release efforts. You may also have noticed that I didn’t publish any posts here for almost 6 months, this is why. It was an all hands on effort to get the Network Editions released. No one was spared. So our marketing efforts stayed pretty consistent with the previous fiscal years (neither up or down).
And on that note I do want to take a minute to thank everyone who helped us release the Network Editions. Above those who worked beyond their job roles and descriptions, we also had a lot of people who volunteered their time to help us in our testing efforts. To all these people I personally thank you very much.
Since the release of the Network Editions our main efforts have focused back into the next major “feature” release of LandlordMax. That is we hope to release a major new version of LandlordMax Property Management Software before the end of the year, possibly within as little as a few months. It will include many new features and lots of new functionality. Not only features, but we’re streamlining a lot of the processes within the software so that many actions will be even easier and quicker to process. Basically more automation in your regular tasks along with new features and functionality.
For example, and this is still unofficial because as a rule we do not officially state anything until it’s fully completed to avoid any vaporware statements, we’re working towards offering a built-in word processor with the next major version, which will potentially include “templating”. The major benefit of this feature is that you can import your legal documents into the software as “template documents” from existing Word documents. From there, you can say go to a tenant, create a new lease agreement, and the software will grab your templated lease agreement from the templates, fill in the tenant’s information, and then save the new lease document under the tenant, allowing you to print it, export it, and so on. This is really beneficial in that it lets you manage all your documents with your data, from tenants, property owners (for property managers), etc., all within the software.
And this is just one of the features we’re looking to implement for the new version. There’s a lot more where that came from!!
In addition to the new release, we’re also planning to really ramp up our marketing efforts this fiscal year. Like I just said a few moments ago, our marketing efforts did not increase much during 2012-2013. Yes we’re still marketing at the same levels as the previous year, but we didn’t really grow our efforts with new initiatives. Which on a positive note says a lot about our revenue growth in the last fiscal year. People like the software. We know there’s a significant amount of word of mouth promotion going on from our loyal customers. People recommend LandlordMax to other people. And that’s where most of our growth for the last year has mostly come from. So one of our big goals this fiscal year is to really improve our marketing efforts beyond what we’ve done in the past. In two years we’ve doubled our revenues, it would be nice to be able to double them again but in just one year this time.
And on that note, I really look forward to 2013-2014. There’s absolutely no doubt we’re going to have another record year. We’ve just launched 3 new Network Editions. We’re on the edge of releasing a new major feature release. And we’re planning on significantly improving our marketing efforts. And we’re already seeing an upswing from the new Network Editions in just a couple short months. Fiscal 2013-2014 is going to be exciting.
After 10 years I continue to be excited by our progress and how love there is for LandlordMax. Here’s a sample of some of the new testimonials we received just last month (July 2013):
“I have been using LandlordMAX for a little over 18 months. Not only was the program easy to setup but has made tracking of expenses, late payments, etc. much easier. With quite a number of apartments on our books it was always difficult to see when payments were not made. The year end accounting has been a dream. My accountant no longer needs to go through our books to get the EOY numbers. Also I wanted to add that customer support has been terrific. And best of all when I have reasonable suggestions for improvement of the program they are made within weeks.” – Murray Acheson
“I have been looking for a program for the past couple of months and was getting very weary and discouraged. Especially for a ‘smaller’ complex, such as ours. It seems the market for automated recordkeeping has gone to mostly online with monthly cost, which is probably great for large complexes but not economical for us small operations. I have been relieved to find your program and the great support from you as I learn the program.” – Ann Noel
“Love the program!! JERRY” – Jerry Carr
“Knowing that I have Help/Support for the future is like having insurance on your car.” – Gil Rheaume
“And again – thank you for the absolutely amazing customer service and product support” – Doug Doody
“Once again, thank you for the outstanding customer support. It’s incredible easy to use. Using it is very intuitive. When I run into a problem or have a question, I can always count on FAQ, discussion forum, screenshots and an outstanding customer support to solve my problem and/or answer my questions.” – Christine Chan
I also want to include one of my personal favorites we received just the month before:
“I’ve been using your software since 2007. I was one of the ones that started asking about a network version long ago. Even on its first release, your network Landlordmax software is awesome! It does EXACTLEY what I was hoping for. I’m a tech geek, and I’ve been willing to pay any amount for good property management software for my brokerage. I’ve tried every other competitive solution (all of which charge substantially more), even the big name networked versions, which charge outrageous monthly fees. Yours outperforms them all. Really brilliant software. You did great Steph. You’ve really helped my brokerage succeed as it rapidly expands. My employees all love it too, and it save’s me a king’s ransom in training cost for new employees do to its simplicity.” – Ed Dimarco