How to Work ON Instead of IN Your STR Business

Why are you in the short-term rental (STR) business? A lot of us start with a goal to replace our income and eventually quit our 9-to-5. But do you want to create a new job for yourself as a 24/7 Airbnb host? Or do you want to have the freedom to travel and do other things? In that case, it’s crucial that you learn how to work ON instead of IN your STR business.Julie George is the Airbnb consultant and business mentor behind Million Dollar Host, a platform designed to help STR hosts scale a property management business. Prior to Million Dollar Host, Julie founded Host My Home, an Airbnb property management company out of Cairns, Australia. She grew the business from 0 to 130 properties in three years and earned $8M on Airbnb before selling the portfolio in 2019. Julie is also the author of Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too!On this episode of Get Paid for Your Pad, Julie joins me to share her tips for working ON rather than IN your STR business. She explains the benefit of partnering with others rather than hiring employees and offers advice on how to document your processes in a playbook and then properly train and empower new team members. Listen in for Julie’s insight on developing a game plan for the future of your business and learn how to build a STR company that runs itself!Topics CoveredJulie’s background in the STR businessGrew Host My Home portfolio to 130 unitsEarned $8M on Airbnb before selling in 2019Julie’s tips for working ON rather than IN your businessDetermine what you’re going into business forRecognize strengths and outsource weaknessesEmpower staff + contractors to do job FOR youThe benefit of partnering vs. hiring employeesSense of ownership leads to pride in workSelf-motivated and invested in successJulie’s insight on how to train new staff membersDocument processes, communicate through playbookShadow you or trusted team member for weekRun through induction to see how business worksCheck in regularly with biweekly meetingsWhy it’s crucial to document your STR processesForces to consider best way to do thingsTeam can step up when you’re awayPrepared when want to sell businessJulie’s experience with joining STR LegendsBlown away by inspiring stories, culture of sharingOpportunities to partner on deals and projectsWhy hosts should think about their valuesCulture more important than strategyDefining values attracts ‘right people’Julie’s advice on finding a communityNo point in being smartest person in roomSurround self with people who enhance lifeConnect with JulieMillion Dollar HostJulie on FacebookJulie on LinkedInJulie on InstagramResourcesJulie on Get Paid for Your Pad EP300Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too! by Julie GeorgeSTR LegendsSTR Profit AcademyHost My HomeGoogle DocsDropboxAsanaThis is Marketing: You Can’t Be Seen Until You Learn to See by Seth GodinGet Paid for Your Pad: How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa KapadiaGet Paid for Your Pad on YouTubeEmail [email protected] Hosted on Acast. See acast.com/privacy for more information.