EP193: How to Become an Airbnb Entrepreneur
Summary
This podcast episode discusses how to become an Airbnb entrepreneur and build a property management business. It highlights essential skills like hospitality, finances, and team management, while also emphasizing the importance of automation and outsourcing to free up your time. Hosts can learn from the success of others and apply these principles to streamline their own STR operations.
Key Insights
- •The entrepreneur's Airbnb listing income was $5K/month.
- •Automated systems saved the entrepreneur 10-15 hours per week.
Action Items
- ✓Reinvest Airbnb earnings to build your business.Effort: lowImpact: medium
- ✓Consider outsourcing tasks such as cleaning, check-ins, and guest communication to free up time for business growth.Effort: mediumImpact: medium
Tools & Resources
- →Kijiji: The entrepreneur advertised for clients and employees on Kijiji.(kijiji.ca)
- →Fiverr, Upwork, Cara Helps: The entrepreneur used Fiverr, Upwork and Cara Helps for virtual assistants.
- →QuickBooks: The entrepreneur used Google Sheets initially for logging hours, and moved to Quickbooks and TSheets App for time tracking.(quickbooks.intuit.com)
Common Mistakes
- ⚠The entrepreneur found that Google Sheets for cleaner tracking did not work well.
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Curated by Learn STR by GoStudioM