Episode 490: 8 Universal Business Lessons Learned From My AirBNB Business

<p>Today’s episode can be used as a guide for <em>any</em> entrepreneur, regardless of the business you’re in! In it, I’ll be sharing the 8 universal business lessons that I’ve taken (so far) from building my AirBNB business from a side hustle into a budding empire. It’s a ton of work to build a machine that is simple, streamlined and highly automated, but trust me when I say it is very much worth it. I hope these principles will help you and your team make better decisions for your business, so give them a try and let us know how you make out!</p> <p>If this episode inspired you in some way, take a screenshot of you listening on your device and post it to your Instagram Stories, and tag us, @jameswedmore and @jillycedeno.</p> <p>How would you like to discover how to attract your first 100 leads that actually want to buy your stuff? Grab our free 14-part video course here - <a href="http://jameswedmore.com/100" target= "_blank" rel="noopener">http://jameswedmore.com/100</a>.</p> <p>Haven’t left a review yet? All you have to do is go to <a href= "http://jameswedmore.com/itunes" target="_blank" rel= "noopener">http://jameswedmore.com/itunes</a>, and thanks for your support of this show!</p> <p>I want to invite you to help contribute to this podcast by submitting a question for a #Q&AEdition of The Mind Your Business Podcast. All you have to do is go to <a href= "http://jameswedmore.com/QA" target="_blank" rel= "noopener">http://jameswedmore.com/QA</a> and record a question (under 4 minutes or less) that could be featured on an upcoming episode.</p> <p><strong>In this episode you’ll hear:</strong></p> <ul> <li>What I learned by knowing the AirBNB business model and numbers inside-out [9:11]</li> <li>Why the “5% factors” are so crucial to understand for any business, and how I’ve applied this concept to my AirBNBs [27:49]</li> <li>How I’ve leveraged a great team to build this business [37:16]</li> <li>What we have in place in terms of structure and systems, and the results we have seen by doing this [39:27]</li> <li>