Property Management Inc. CEO Steve Hart Refused to Stop Believing—and Won

Five years ago, he decided to compete in an annual bike race called the LoToJa Classic, which takes place the first Saturday after Labor Day. The race covers more than 200 miles, and as such, it is the longest one-day, USA Cycling-sanctioned bike race in the U.S. The race requires cyclists to conquer three mountain passes on a route that takes them through Utah, Idaho and Wyoming. The race finishes at the base of Jackson Hole Mountain Resort in Wyoming’s Teton Village.

“LoToJa has grown into one of the nation’s premier amateur cycling races and continues to be a grueling test of one's physical and mental stamina,” Hart said. “Many compete to win their respective category, while others like me just ride to cross the finish line.”

Hart trained for LoToJa throughout the spring and summer of that year with the simple vision of just finishing the race. He completed 50- to 100-mile rides a few times a week, thinking this would put him in the best shape possible to compete in the race.

“I had never really ridden anything longer than 100 miles before, so I was a little unsure of how the ride would go,” Hart said. “Sometimes, in life, it’s hard to know what to expect when you head into something you’ve never done before. You just don’t know if you’re prepared enough.”

The morning of the race, Hart got his start at 4 a.m. He was tired, as his nerves had kept him up most of the night, but his fatigue soon dissipated.

“As I got on my bike, the excitement of the race kicked in,” Hart said. “The early morning air was fresh and invigorating. The speeds were fast and fun and the people that were riding around me were just hammering and I was right in there with all of them. It was exciting to finally be riding in this race that I’d been training for and looking forward to all year long.”

When he came to the first mountain pass, things were still going swimmingly. His legs still felt strong, and he rode up several thousand feet, which culminated in a steep and speedy descent.

“I reached speeds close to 50 MPH!” he said. “I was pretty much in Steve Heaven.”

That euphoria helped Hart get through the second mountain climb. His legs still felt, in his words, “a little jello-y,” but he still had enough in him to get up and over the second mountain pass.

Then he came to the third mountain pass.

“It must have been around 1 or 2 p.m. because the heat of the sun felt so hot,” he said. “I started feeling really fatigued. My legs felt so heavy and tired. I felt so alone because by then, the race was really spread out and it was like every man for himself.”

But Hart wasn’t completely alone. On rides this long, he noted, riders can have support vehicles meet them at certain stages of the race. His wife, Amy, was his support person that day, and he would see his wife soon.

“At the first support station, I didn’t even stop,” Hart said. “I gave her the thumbs up and kept going. The second support stop at the 80-mile mark was pretty much the same. I grabbed some food from her real quick and some fresh water bottles and I was on my way. But by the 130-mile support stop I was baked! After three mountain passes and 130 miles and seven and a half hours of non-stop pedaling on a tiny, hard seat, I felt I had reached my physical limit.”

Hart felt that his vision to complete the ride was unattainable. After so much hard work and preparation, he truly thought he wasn’t going to finish the race. The thought brought him to tears. Defeated, he met his wife at the next support station, and she gave him a much-needed pep talk.

“She brought me to a little grassy area where we sat under a tree for some shade,” he said. “With tears in my eyes I managed to choke out the words: ‘I don’t think I can finish this race, Amy. I can’t do this!’ It’s not like me to say I can’t. But there I was, defeated. Literally collapsed on the ground. A grown man. Crying.”

Fortunately, Amy came prepared. She pulled out a Taco Time Crisp Bean Burrito and a large, icy Coke and urged Hart to eat. He did not feel hungry but he ate anyway while Amy rubbed his shoulders and helped him stretch his lower back and legs.

“In the 10 minutes it took me to eat that burrito and drink that Coke something happened,” Hart said. “I found just enough energy to entertain the idea of getting back on that stupid bike.”

He was further motivated by Amy, who pointed out that he had ridden his bike further that day than he’d ever ridden before. As far as she was concerned, he had already won, and she was extremely proud of him. She pointed out that he was so close to the end—only 70 miles to go.

“You’ve got this,” she told him.

Hart pushed himself to do at least 10 more miles. He told Amy to drive up the road 10 miles. He’d see how he felt once he met her up the road. He made it, and, without getting off of his bike, he yelled at her to go another 10 miles up the road, then another and another. He knew he could finish the race.

“I got to a rest stop and Amy had a Snickers bar waiting for me,” Hart said. “By then, I had ridden 160 miles.”

With only 40 miles left, Hart knew he could not quit. He had to finish the ride.

“So, I reluctantly got on the bike yet again and started pedaling,” he said. “I had to pull from stores physically, mentally and emotionally that I didn’t know I had.”

After what seemed like a lifetime—but was really 11 hours and 27 minutes—Hart crossed the finish line. He had completed 204 miles and nearly 11,000 feet of climbing.

“It took everything I had, and the support of my best friend and wife, to get me across that line,” he said.

Years later, Hart still remembers this race clearly. His experience has stuck with him throughout his career and motivated him to push through in business even when things got rough. It has also motivated him to make sure PMI franchisees are supported. The way Hart sees it, every franchisee at PMI has their own LoToJa to conquer, which will require them to work hard and step outside of their comfort zones.

Also, much like how his wife helped him during those 10-mile increments, PMI’s senior management team has helped Hart zero in on the company’s corporate vision.

“We don’t call them ‘10-mile goals,’ but we do call them monthly, quarterly and annual goals,” he said. “We even have a more grandiose five-year goal, all of which is in support of a bigger vision.”

As he works toward his goals, Hart will always remember the LoToJa race, and how hard he worked to cross that finish line. More often that not, he said, starting and running a business can feel like that bicycle race.

“We start with a vision,” he said. “Then we have to set goals to reach that vision.”

And PMI is ready to support franchisees as much as possible.

“Our franchisees will need to ascend some pretty steep peaks by themselves, but PMI is here to offer them all of the training, systems and support they need in order to cross their own proverbial finish line,” Hart said.

Hart is thrilled with PMI’s current state and excited to see the brand get to the next level.

“We’re the leaders in the industry,” he said. “Our competitors are either playing catch-up or trying to copy us. That feels amazing. We are the fastest-growing and the only property management franchise servicing all four sectors of property management. Our vision is to become a household name, and we’re well on our way to reaching that goal.”

With so much experience under his belt, plus the ability to reflect on the hard times and remember the lessons learned, Hart is ready to take his career and PMI to the next level.