To identify the players in a strata company we compared the structure of a strata company with that of a private company and we found some similarities and we found a couple of roles missing in strata.
Strata and our life
Rob and I live, work, play and invest in strata and we see it from every angle. At various times we have sat on three strata committees, we run a consulting business that advises strata company's about building defects and asset management Rob prepares 10 forward maintenance plans and generally solves problems for strata managers and strata committees. We know strata is difficult to run because we live it every day.
The two roles we think are missing
Within the structure of a strata company the role of CEO or CFO is generally not undertaken by anyone so strata companies generally lack leadership, vision, strategic thinking and financial expertise.
Strata today deals in millions of dollars, when you run your strata company astutely your levies can become an investment rather than a cost whether your strata company is worth $0.5M or $55M
|PRIVATE COMPANY||STRATA COMPANY|
Board of Directors
|Chief Executive Officer (CEO)|
|Chief Financial Officer (CFO)|
|Board members paid||Committee members unpaid|
|Middle Management||Strata Manager|
|Employees||Consultants, Service providers and Suppliers|
|Management processes - Usually||Management processes - usually not|
|Auditors - mandatory||Auditors - optional|
How do we get this expertise into our strata comapnies?