Episode 490: Lessons I Learned from my Airbnb Business that will Scale your Online Business

Uncategorized Sep 27, 2021

Today’s episode can be used as a guide for any 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!

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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 http://jameswedmore.com/QA and record a question (under 4 minutes or less) that could be featured on an upcoming episode.

In this episode you’ll hear:

  • What I learned by knowing the AirBNB business model and numbers inside-out [9:11]
  • Why the “5% factors” are so crucial to understand for any business, and how I’ve applied this concept to my AirBNBs [27:49]
  • How I’ve leveraged a great team to build this business [37:16]
  • What we have in place in terms of structure and systems, and the results we have seen by doing this [39:27]
  • Where great marketing really starts, in any business [45:51]
  • How the power of the client experience impacts this whole process [47:35]
  • Why you can’t always wait for everything to be perfect before acting [52:12]
  • What knowing the lifetime value of your customers can allow you to do immediately [53:04]
  • How we manage expectations in the AirBNB business, and why this is such a good idea to always do [59:34]


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