Ep 49 - What are the Keys to Scaling Your STR Business

HOSTS BIO

Mike Sjogren - Michael is a short-term rental expert and coach. He has a portfolio of STR properties across 5 states as well as an oceanfront boutique hotel. Michael brings a wealth of finance, business, and real estate experience. He is passionate about helping others create financial independence through real estate so they can pursue their passions and leave their mark on the world.

Emanuele Pani - Commercial and Residential Real Estate Consultant at Signature International Real Estate. Has a degree in accounting and finance. Started his real estate journey working as maintenance until the owner decided to sell the 40 unit apartment building to Emanuele Pani.

HIGHLIGHTS OF THE EPISODE

03:00  What are Mike’s and E’s roles look like now on their business.

04:30  Tool that you need to prepare for growth.

08:51  Getting PMS or channel managers to streamline processes for you.

15:19  Preparing your mindset for scaling.

17:52  E’s experience on having an executive assistant/ property manager on his team.

21:19  What you should be spending your time on.

24:43  Showing your team how you operate by working harder.

27:05  A tactical definition of “working on” versus “working in” the business.

27:43  Recap of the episode.

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NOTABLE QUOTES (KEY LESSONS):

"I prefer to work with cleaning companies because, again if the main cleaning person is sick or on a vacation or whatever, there's other people in the company that can go and get the property cleaned." - Mike Sjogren

"You need to start thinking like an entrepreneur, like a business owner and less like an operator that's working as a worker bee in your business." - Mike Sjogren

"You're creating yourself 1. Freedom. But 2. you're creating a consistent experience for your guests without you being involved in it." - Emanuele Pani

"When you bring on somebody to help you, may it be a local person or VA, the only thing you can teach them is how you've been doing things." - Emanuele Pani

CONNECTING WITH THE HOSTS

Michael Sjogren:  Facebook Group |  Facebook | Instagram | LinkedIn | Youtube | https://linktr.ee/the_airbnbguy

Clubhouse handle: @MichaelSjogren

Emanuele Pani: Facebook | Instagram | LinkedIn | Youtube

Clubhouse handle: @epanirealestate

2021 Goal Achiever Action Guide: www.strsecrets.com/2021