Ten years ago, I was tired of trading my time for money practicing dentistry, so I started exploring other options. I got intrigued by the self-storage industry and quickly realized it's one of the few businesses that's recession-resistant and generates passive income. That's why I founded StoreIT! Something that makes us unique is that we're owner-operators who put our own capital at risk. Up until now, all of our projects have had our capital invested first before bringing in partners. 

>What are you looking forward to in the next six months?
I'm excited to see our three sites under construction come to life. There's something extremely satisfying about watching these projects go from dirt and blueprints to actual facilities with tenants moving their stuff in. On the personal side, my golf game has been improving lately and I'm looking forward to keeping that momentum going. 
 
>How do you see AI entering your field?
There are now AI platforms that help determine if a site is permitted for storage within certain jurisdictions, pulling data around population growth, income, home values, and other market indicators. We're also seeing platforms that assist with site plans and can predict what kind of groundwork and grading will be needed to get a site ready for storage development. It's helping with our market research, evaluating optimal rates, and showing us how to target and create social media content that actually converts.

On the operational side, we're seeing smarter facility management systems that can optimize pricing in real-time based on demand and competitor rates. Many storage facilities are transitioning into remotely managed facilities with AI being a huge part of the customer acquisition piece.

At the end of the day, this is still a relationship business. AI can make us more efficient, but it can't replace the personal touch.

>What has been a favorite EO moment over the years?
My favorite EO moment was giving an EO Talk about my story and incorporating some education around the belief cycle. I really enjoy all the time I spend with my EO Forum group, the connections and conversations are invaluable.

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Wayde joined EO Portland in 2007. Interested in joining a community of business founders? This could be your year! Learn more.