In partnership with

Welcome back to Exit & Equity, the email for serious self storage owners.

If You Stopped Checking Your Phone, What Would Break?

I ran an experiment last month.

Didn't check my phone on Sunday. Just coffee and silence.

By 11 a.m., I was convinced something was on fire. By 2 p.m., I was sure a tenant had been locked out and was rage-posting on Google Reviews. By bedtime, I caved and checked.

Zero missed calls. One text from a tenant saying thanks for the lease renewal.

Nothing broken. 💰

The problem wasn't the business.

It was me.

&

IN THE KNOW

Here's the diagnostic most operators never run

If you disappeared for 48 hours, what would actually break?

Not "what would I worry about" but what would genuinely stop functioning.

I tracked every task I touched in a week. 47 total. Then I sorted them:

  • 31 tasks could be automated, delegated, or eliminated entirely

  • 8 tasks were genuine owner-level decisions — acquisition analysis, lender calls, strategic pricing

  • 8 tasks I was doing out of pure habit. Zero value added.

That's 66% of my time on work that shouldn't require me.

BizBuySell's 2024 data is blunt: owner-operated businesses sell at 2.1x–2.8x earnings. Absentee-owner businesses in the same industries? 3.2x–4.1x. Same property. Same cash flow. The only variable is whether the buyer thinks they're buying a business or buying your job.

On a facility doing $200K NOI, that's the difference between a $1.4M sale and a $2.2M sale.

Become the go-to AI expert in 30 days

AI keeps coming up at work, but you still don't get it?

That's exactly why 1M+ professionals working at Google, Meta, and OpenAI read Superhuman AI daily.

Here's what you get:

  • Daily AI news that matters for your career - Filtered from 1000s of sources so you know what affects your industry.

  • Step-by-step tutorials you can use immediately - Real prompts and workflows that solve actual business problems.

  • New AI tools tested and reviewed - We try everything to deliver tools that drive real results.

  • All in just 3 minutes a day

Operators obsess over occupancy and street rates and miss the single biggest value driver: operational resilience. You can't sell a business that requires you to function. You can only sell yourself into an earnout or a glorified employment contract.

I've talked to three buyers in the past six months doing active acquisitions. Every one of them asked the same question during diligence: "What happens if the current owner gets hit by a bus?"

If the answer is "the business stops," they walk. If the answer is "here's the ops manual, here's the property manager, here's the documented decision tree for every scenario," they write the check.

This isn't about working less. It's about building a business that functions without you, which paradoxically makes you more valuable.

Across our facilities, we've eliminated 23 hours per week of owner involvement over the past nine months. Not by working smarter. By building systems that don't need anyone to be smart. Automated tenant communication handles 80% of inquiries. Gate troubleshooting scripts resolve 90% of issues without a phone call.

Our property manager hasn't called me on a weekend in four months. When I do get a call, it's actually worth my time. "Do we buy the adjacent lot?" or "Competitor dropped rates 15%, what's our move?" Those are $50,000 decisions. Not $50 decisions about whether to waive a late fee.

The goal isn't passive income. It's passive operations. Income requires work. Operations shouldn't.

Take a Sunday off. Don't check your phone. Don't just peek at the dashboard. Actually disconnect.

What breaks? That's your to-do list.

&

MAKE IT MODERN

When tech is actually useful

The framework that made the Sunday test possible: The Digital Runbook.

Every scenario that requires a decision gets a documented decision tree — before it needs to be made again. The tool doesn't matter. Notion, Google Docs, a shared folder. What matters is that the answer exists somewhere other than your head.

The structure is five steps:

  1. Trigger: What event kicks off this decision? ("Tenant reports gate won't open")

  2. Data check: What information do you need? (Gate access logs, tenant account status, recent entry attempts)

  3. Decision tree: If X, then Y. If A, then B. No judgment calls — pure logic.

  4. Automation link: Where possible, connect to the Make.com scenario or workflow that executes the decision automatically.

  5. Escalation threshold: At what point does this require a human? Define it explicitly.

Here's what ours looks like for a gate malfunction:

  • Code error → automated SMS with troubleshooting steps (87% resolution rate)

  • Mechanical failure → Make.com webhook notifies repair vendor automatically

  • Vendor non-responsive within 2 hours → escalation text to property manager

  • Unresolved after 4 hours → I get a call. That's happened twice this year.

The first time you document a scenario takes 20 minutes. Every time it occurs after that takes 90 seconds. After five occurrences, you've saved over an hour. After twenty, you've bought back a full day.

We're at 34 documented scenarios across three facilities. The property manager hasn't asked "what should I do about X?" in months — because the answer is already written.

If you can't document it, you can't delegate it. If you can't delegate it, you can't exit.

&

BEFORE YOU GO

Links I found interesting this week

  • Managing mental energy is everything [link]

  • Make sure you are ready to exit when Public Storage comes calling [link]

  • Use AI, don’t let it use you [link]

&

FROM THE STOICS

He who is everywhere is nowhere

— Seneca

How did you like today's newsletter?

Login or Subscribe to participate

Recommended for you