Learning lessons from 10 years of entrepreneurship (Ep576)
Summary
This podcast episode features a discussion about entrepreneurship and making a career change, offering valuable lessons for those considering a transition from a corporate job to full-time STR hosting. The guest shares his experiences, decision-making process, and advice for navigating the emotional and practical challenges of building a business. Hosts can learn from the guest's experiences in transitioning careers and apply similar principles to their own businesses.
Key Insights
- •The guest quit a corporate job to start a math tutoring business, demonstrating the feasibility of leaving a traditional job for entrepreneurship.
- •The guest emphasizes the importance of aligning business ventures with personal strengths and passions, such as enjoying a certain subject.
Action Items
- ✓Reflect on your skills and interests to identify business opportunities that naturally align with your strengths.Effort: lowImpact: medium
- ✓Seek support from individuals who are supportive of your business decisions.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to put in the full effort required for the business to be successful
More from Getting Started
This article from GreekReporter.com reports that Greece is climbing the European short-term rental rankings. While specific details on the rise are not provided in this short article, this suggests a growing opportunity for hosts. It implies increased demand in the Greek market, which presents a dynamic opportunity for STR investors.
Ennismore plans to expand its hotel presence in India, with its first hotel under the Morgans Originals brand, Roswyn, already soft-opened in Mumbai. Following the Mumbai debut, the company plans to open a Hoxton hotel in Bengaluru and is actively exploring further expansion opportunities, recognizing the market's readiness for a luxury lifestyle product.
The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
Curated by Learn STR by GoStudioM