Calvin Brock is the CEO of Jack and Landlords. Calvin Brock is a thought leader, influencer, visionary, and successful entrepreneur. Calvin provides the leadership and energy that has inspired the creation of Jack and Landlords. Calvin Brock joins other leading CEOs and Founders taking part in our Leader Roundtable Interview Series. The DotCom Magazine editorial team has recently awarded Jack and Landlords with our Impact Company of 2019 award, and we are delighted to have Calvin join us for our Leader Round Table Interview.
The Jack and Landlords story is very interesting. We are very excited to interview Calvin, and also put Calvin through our popular speed round as well. Calvin, thank you so much for taking the time out of your busy day for this interview, and answering some questions about leadership, your vision, and your passion.
1. What is the elevator pitch for Jack and Landlords?
We are a threefold benefit to landlords with a mutual benefits to tenants, thereby, making Jack and Landlords the business smart way to lease. Our landlords increase revenue with rent increases, reduce turnover expenses with retention, and profit tax free when damages are lower than a full month's rent. Jack and Landlords' guarantee only pays the full month's rent amount for damages and loss rent.
Tenants are freed from a upfront security deposit requirement that will cause disputes and maybe court ordered damages at termination of lease. Tenants pay a discounted amount over the first year along with monthly rent and walk free after terminating their lease.
HouseWire article by Jeremiah Jensen,
Property managers are turning to security deposit alternatives as a way to mitigate bad debt, get ahead of regulatory trends and increase efficiency.
With Jack and Landlords, property managers contract with us on a tenant by tenant basis and add the cost of their guarantee to the tenants rent for the first year, thereby, replacing the security deposit that has no upside but a lot of downsides. Because tenant's pay the cost of the guarantee included with rent in the first year, tenants prove to be financially stronger. After the first year, the guarantee is paid in full and covers the entire tenancy. This allows landlords to increase rent by 4% the second year, and tenants experience a lower monthly rent due to the guarantee premium no longer included with rent, thereby, influencing tenants to renew a second year. Third year rent, along with another 4% increase, have tenants paying only $30-$40 more than their first year with guarantee premium. Two rent increases without the cost of turnover is a two fold bottom line increaser. If damages, at the end of the tenancy, are less than a full month's rent, then profits are tax free to the landlord making Jack and Landlords a threefold benefit.
2. Many of our readers are just starting to build a company. What advice can you give CEOs just starting out regarding keeping a company moving forward, and please tell us the key to your companys success?
Developing a great product with fulfillment and procurement infrastructure that presents customer satisfaction is key to every business success. Most customers get what they want online. We took our time in developing our online infrastructure to allow landlords to instantly take out our guarantees through our website upon receiving access to our guarantee registration.
3. For other entrepreneurs seeking to build a business as successful as yours, what advice can you give them when times get a little challenging?
Challenges are many starting out. But it's the challenges that make you grow stronger, smarter, and a good mentor. I like to use my former boxing career as an example. I competed in the 2000 Summer Olympic Games in Sydney, Australia. As a pro I challenged for the World Heavyweight Championship at Madison Square Garden for Wladimir Klitschko's IBF/IBC world titles televised on HBO. My record was 29-0 at the time.
I had the worst start I've ever seen my whole life. I lost my first six amateur bouts and I got hit a lot. I didn't quit because of the belief inside my heart that I would see my dreams of becoming an Olympian and professional champion a reality. I became so good that I hardly got hit anymore and saw my dreams come true.
4. How important is the commitment to client satisfaction at Jack and Landlords, and how do you make sure your customers will become raving fans of your company?
Standing behind our guarantees when customers make claims for damages keeps our customers raging. We're a partner in helping our customers grow. They don't leave! We allow our customers to make claims up to 50% of the revenue we generate with them.
Customers want vendors that feel like a partnership. A partnership is a commitment.
5. What is the one thing Jack and Landlords does to have great communication with their customers?
Response time! We respond to our customers within 24 hours.
6. In todays fast changing business environment, how do you stay abreast of things?
We contract with a team of software developers that keeps us abreast on trending technologies to benefit our company and customers. The collective minds of our company and directors make certain we stay ahead.
7. What is your Why? Why do you get up in the morning, and how do you keep yourself at peak performance to lead Jack and Landlords?
Family and service to the company and customers is my why. I maintain a healthy diet with adequate rest and don't overwork myself. Maintaining a family and work life balance is essential to me obtaining peak performance as far as my mind is concerned. Though my body is healthy, I would like to find more time to excise. Lately I've been off and on. Wife, kids, and work takes up most of my day. A gym in my home is in the works.
8. Can you recommend a book that has had an influence in your career? How did it influence you?
Honestly, though I've read books and still do, I can't say I've been influenced by books. I believe my dreams have been given by God, and I've been influenced to see my dreams come true.
9. When communicating with your staff, can you tell us the most important thing you do so that they are able to carry out the objectives that you set forth at Jack and Landlords?
Writing my objectives to carry out is the most effective communication I use. I give myself as support when clarity is needed of my company objectives.
10. In one sentence, can you give some advice to fellow entrepreneurs wishing to build a company as exciting as Jack and Landlords?
The sky doesn't end, so keeping pushing to go higher.
We would like to have some fun and do a Speed Round with you! We will ask you ten more questions that we want you to answer in just one to three words only. Here you go!
1. In three words or less, What makes a successful CEO?
Belief, Consistency, Perseverance
2. Describe your business in one word?
3. Describe your customers in one word?
4. What one attribute do you look for when hiring an employee?
5. What is the one word you want your customers to say about your company?
6. In three words or less, describe your passion?
Family, Business, Giving
7. In three words or less, describe what it takes to be successful?
High Self Esteem
8. In three words or less, describe your first year in business at Jack and Landlords?
9. In three words or less, describe how running a successful company has changed you?
10. What is the one word that you believe has the most power in the English Language?
Calvin Brock, Thank you so much for sitting down with us at our DotCom Magazine Leader Round Table. We very much appreciate the time you spent helping others learn more about what it takes to be a leader. We hope your interview helps our readers, and we wish you, your family, and of course Jack and Landlords, nothing but the best.
Calvin Brock, CEO of Jack and Landlords, The Leader Roundtable Interview Series