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What Is The Real Role Of A COO? With Kevin Shtofman And Frank Furman

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Jan 12, 2022

Summary: Welcome back to season 8 of the Propcast! In
this first episode, Louisa speaks with Frank Furman, COO at
PadSplit and Kevin Shtofman, COO of NavigatorCRE about what the
real role of a COO involves. They discuss how the COO is the ‘CEO
of Execution’ and how they support organisations to scale
efficiently. Louisa shares some insights on recruiting for the COO
role and how the role can look different in each organisation.
You’ll learn more about how PadSplit and NavigatorCRE operate in
this insightful episode. 


Companies Mentioned:


Shout Outs:

Resources:

 

Key Insights From This Episode: 

  • Our view
    is that if you can make affordable housing higher return than
    market rate there is no affordable housing challenge because you’re
    leveraging the capital and energy and intellect of the private
    investor, and they are motivated to solve that. –
    Frank
  • The most
    consistent problem I got was we’ve got a bunch of information that
    we don’t use to make decisions because it’s spread out all over the
    place. It’s almost like what Frank’s company has done with space we
    are doing with information and data. – Kevin
  • In the most
    general sense, to me, a COO role is an execution one. –
    Frank
  • I really think
    at the end of the day, the job of the COO is to help a company
    scale efficiently. – Kevin
  • What I found is
    the most important role of the COO is finding lieutenants. –
    Kevin
  • The COO hat
    really is the CEO of execution. – Kevin
  • I think a few
    trends that we saw in 2021 are absolutely going to continue in 22.
    You’ll see continued consolidation among proptech firms. –
    Kevin
  • Finding talent
    as you grow is still so hard. And that’s what keeps me up at night.
    – Kevin

 

Keywords: Retail, Operations, Startups, Mergers And
Acquisitions


About Our Guests:

Kevin Shtofman


https://www.linkedin.com/in/kevinshtofman/

Kevin has spent the last 17
years in the Commercial Real Estate industry, working with clients
across four continents. His work at Morgan Stanley, EY, and
Deloitte led him to join NavigatorCRE as their chief operating
officer just over two years ago.  Kevin has presented on
stages in 27 countries, discussing the future of real estate
technology and covering topics around Blockchain, Machine Learning,
Artificial Intelligence, and Digital Twins. He and his wife Katie
live in Dallas with their two daughters, Avery and
Lily. 

NavigatorCRE is a patented,
cloud-based business intelligence platform that serves enterprise
owners, operators, investors, and managers across all property
types, stages, and geographies…and works on any device, without an
app. Over 2 Billion square feet sit on the Navigator
platform.


Frank Furman

https://www.linkedin.com/in/frank-furman-4b70b353/ 

Frank is the Chief Operating
Officer at PadSplit, a co-living startup that is dedicated to
solving the affordable housing crisis. Prior to PadSplit, he worked
as a Category Director at Georgia Pacific and as an Engagement
Manager for McKinsey & Company in London and Atlanta. A former
infantry officer in the United States Marine Corps, he commanded at
the platoon and company levels and served two tours in Afghanistan.
He has a B.S in Aeronautical Engineering from the United States
Naval Academy and an M.S. in Applied Physics from Johns Hopkins
University. He and his wife Caelyn live in Atlanta, and have two
sons, Rudyard and Byron.


PadSplit is a privatized housing company
focused on providing affordable houses. They have over 1,700 units
(within just 3.5 years), including single and multi-family
properties. PadSplit also increases yield by more than 100 percent
for property owners by using existing housing stock as shared
housing. PadSplit was founded in 2017 to leverage housing as a
vehicle for financial independence for low-income workers that
serve our communities.


About Our Host

Louisa Dickins


https://www.linkedin.com/in/louisa-dickins-ab065392/?originalSubdomain=uk

Louisa started her career in
property working at a well-known estate agency in London. Realising
her people skills, she moved over to Lloyd May to pursue a career
in recruitment. She now is a Director at
LMRE, who are a specialist recruitment firm driven
by PropTech and recruitment professionals, and Louisa oversees
their 5 core areas. Louisa co-founded LMRE and provides a
constructive recruitment platform to the new disruptors in real
estate. Louisa is also on the board of Directors at UK PropTech
Association (UKPA).


About LMRE

www.lmre.tech

LMRE believe there is a better
way to recruit.
LMRE focus on a more comprehensive, client led focus
delivering exceptional talent to the place at the time. They are
passionate about the industry and passionate about people’s
careers. LMRE spend time with each client to become and an
extension of the business, and their transparency and core values
help them grow with the sector. LMRE simplify recruitment and
innovate with our clients and evolve the people driven, PropTech
community.



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