4 Principles Management Company Executives Can Follow to Grow the Business, Increase Profitability and Create Security for the Future

4 Principles Management Company Executives Can Follow to Grow the Business, Increase Profitability and Create Security for the Future

CINC Customer Profile: CEPCO

One of the biggest hurdles facing community association management companies (and frankly, any business) is growth. Not only do you need to grow your business to increase your profitability, but you also need it to create security for your future. Bonus points if you have a plan in place to transition over to the next generation of leaders for your company to become a lasting legacy.

So when you hear about a management company that has achieved both – lasting 37 years in the business (and still going strong!), but also successfully handing over the baton, you want to know more about how they did it.

Let us introduce you to CEPCO, a community association management company based in Wilmington, NC.

For a free consultation, call 855.943.8246

Making a Promise

Founder Michael Head (CPA, PCAM, CMCA) created the company with a promise to:

  1. 1. Never compromise integrity
  2. 2. Deliver service that exceeds expectations
  3. 3. Employ the best
  4. 4. Emphasize excellence

These founding principles laid the foundation for the company to thrive through natural disasters and economic turndowns. As a result, CEPCO has become one of the most respected and long-standing community association management companies in southeast North Carolina.

Excellence Through Technology

In 2009, Cindy Norris joined the company as director of accounting. Following the promise, Cindy spearheaded a number of initiatives to take the company to the next level by introducing new technologies, like CINC Systems. These initiatives allowed the company to move its operation into the cloud years before the competition. CEPCO was able to take its whole operation paperless,  improve service levels for their customers, and keep costs low. All while continuing to grow the business.

Since moving to CINC, the company has grown its portfolio by 36%, today managing over 13,000 units and having opened a second office to expand the company’s service area. Cindy says that CINC has been a tremendous factor in their growth, making their jobs much easier and more efficient. Their boards even commend them on keeping up with receivables at a low rate!

Click to contact our get a no-obligation demo of our revolutionary CINC System

Passing the Baton

In 2019, Cindy and her husband Randy took over as co-owners of CEPCO. Encountering a pandemic shortly after taking over leadership put the new owners to the test right away, but because of the measures Cindy had put in place, the company was prepared. Under their leadership, CEPCO continues to stay focused on the same promise made by Michael Head in 1983.

 

Want to learn more about how CEPCO was able to grow while staying competitive in a challenging market? Download the case study here.

 

Call 855.943.8246 or complete a contact form