Over eight years of producing this podcast; talking to hundreds of knowledgeable, experienced and professional owners, property managers and industry experts, I have learned so much.
Every episode has brought AHA moments, and nuggets of information that have improved and advanced my business.
I hope it’s been the same for you!
This reflection on the past 8 years, 425 episodes and one million downloads, pulls out the five most important lessons – the ones that drive me to excel and to build a better business.
> Learn something new every single day – find your one thing that will motivate and excite you and act upon it. Ryan Holiday, author of The Obstacle is the Way, puts it this way:
“Here’s your one thing. Every time you listen to a podcast, read an industry article or watch an educational video, try to walk away having grabbed at least one little thing. That’s how wisdom is accumulated - piece-by-piece, day-by-day, book-by-book, podcast-by-podcast.”
> Choose your partnerships well – resist the temptation to enter a business partnership with someone who is just like you. This may be fun and feel comfortable, but you’ll be unlikely to achieve your goals since you will both have the same gaps in your business skillset.
> We are all professionals – this is more for those just entering this business, who may have stumbled across this podcast. The moment you exchange your accommodation for money, you entered the hospitality business and must accept the responsibilities that come with it. Thinking like a business person from day one will reap rewards every step of the way.
> Network like crazy – join FB groups, local chapters of owner/manager associations, and go to meet-ups and conferences. The learning opportunities are massive as is the exposure to the ever-evolving group of industry suppliers.
> Have an exit strategy – those who have the end in mind from the beginning of the business, and constantly review the exit plan, will be in a better place when the time comes. This is the one thing that came from so many interviews with business strategists and the best organized property managers.
The most downloaded episode is VRS002 – published on the 8th February 2013 (before I even started counting ‘real’ episodes). It still gets 30+ downloads every month!
The 5 most downloaded episodes in the past 8 years:
VRS002 – Getting Started in Vacation Rental with Mike Bayer (only download for a historical perspective and a laugh at the newbies trying to launch a podcast!
VRS323 – Taking the Leap: How to Start a Short-Term Property Management Business
VRS395 – The 5 Biggest Mistakes New Short-Term Property Managers Make
VRS294 – Are you Covered if a Vacation Rental Guest Makes a Liability Claim?
VRS399 – Secrets of the Airbnb Hosts