Do yourself and your business a favor and stop renting out your
personal space as soon as you possibly are financially able to.
Always pay yourself and even your kids for jobs that you perform. This is an expense for your business, which lowers the income, which lowers your business' tax burden. As long as your kids make under a certain amount, $12,200 in most cases, they do not have to pay taxes on it.
Get your mindset away from your old thinking. Employees and Self-Employed people think incorrectly about money - which usually is one of the main reasons they're stuck on the E and S side of the Quadrant!
THINK AND ACT like a business owner. Pay yourself! Hire the right professionals to get the job done! Don't step over dollars to save cents!
Stop Thinking Like an Employee
Start Thinking Like a Business Owner!
01) Provide Safety & Security for you & your Guests.
02) Help with things like a dead car battery, allowing maintenance men in, keep spare keys, sign for packages, and stocking your inventory.
03) Communicate with guests when you can't.
04) Give you peace of mind.
05) Advocate for you with HOA & other organizations.
06) Stop loud parties, too many people, things getting stolen, or other strange activities.
07) Increase your Network: people you know.
01) Do things for your neighbors like mow their lawns, bring over fresh baked goods, or get them souvenirs from your travels.
02) Show pride of ownership & take care of your property & theirs.
03) Be respectful & polite at all times.
04) Add rules so your guests are respectful, too. No pets or parties.
05) Let them know the Comings & Goings. Keep them informed.
Forums are a Great Place to _____________.
A. Learn from other Hosts.
B. Bitch to and with other Hosts.
C. Learn from Guests' Experiences.
D. All the Above (Hint: This one!)
Nest is a great way to control your units when there's no one in them.
An AC unit works best when it's set no lower than 68 degrees. Under that and you're asking for trouble because that's when units will start to freeze up, which could potentially harm your unit.
What is the definition of Host?
What is the definition of Guest?
Be a gracious host and allow your Guests to be comfortable.
A locked thermostat screams, "I don't care if you are comfortable!"
Stop the Madness!!
01) No Smoking
02) No Pets
01) Emergency Contact Card (Contact Information Sent by Email, Text, and Posted Clearly)
02) Fire Extinguisher (Right by the Stove)
03) First Aid Kit
04) Smoke Detector
05) Carbon Monoxide Detector
06) Super-Fast Wifi (Password Sent by Email, Text, and Posted Clearly)
07) Comfortable Mattress (Consumer Reports #2 Rated is only about $500-$700)
08) Smart Television (Plus Cable, if High End)
09) Bluetooth Speakers
10) Charging Stations
11) Smart Locks for Easy Entry (For You as much as Guests)
12) Climate Control Directions (Keep Your Guests Comfy)
13) Coffee, Coffee Maker, Filters, and Cream/Sugar
14) Hair Dryer
15) Iron and Ironing Board
16) Washer and Dryer (a MUST for Long Stays or Active Locations)
17) House Rules, Contact Information, Check-in, and Check-out Times Clearly Posted
18) High-Quality WHITE Sheets and Towels
19) Spare Sets of Sheets and Towels
First, a lesson on Capitalism. What is Compassionate Capitalism?
A wonderful book by Rich DeVos that describes how True Capitalism promotes growth through competition.
Donut Shop #1 Donut Shop #2 Donut Shop #3
Amazing Taste Average Taste Lousy Taste
Priced Higher Priced Lower Priced Higher
First, Capitalism allows competition by allowing anyone to own a business.
Second, products and service determine whether or not a business...
Here are the stories and the takeaways...
Story One: Having your STR guests steal your furniture and electronics from you. Yikes! Imagine walking in and finding your place empty. How long before your unit is up and running again?
Takeaway: Only accept Guests with Government IDs and Good Reviews. Even then, there's always a chance this can happen, so make sure you have umbrella coverage to fill the gaps from Airbnb and Business Income Insurance to cover your lost revenue.
Story Two: You move into a place with really scary neighbors.
Takeaway: Real Estate Investors often talk to the neighbors before buying a property - at least two. You want to know what they know about the property AND the neighborhood. They'll tell you things that the Seller and the Agent won't.
Story Three: Troubled Young Man gets stoned and poops on your bed... gross!
Takeaway: Run a background check and take extra security measures for anyone staying in your home. It's not...
When you subscribe to our Newsletter, we appreciate the honor. Yeah, we know you can cancel anytime but you're still trusting us to add value to your business and we take that to heart!
Not only does Michelle do weekly podcasts but she and her team write informative articles each month. You may know that Michelle does weekly Q&As and Accountability Calls with her members. But now, she's been allowing some of her trainings and check-in's to spill over into her Insiders.
Beginning in August, she's doing a Monthly "10 in 10 at 10" for her subscribers only. So, you'll be able to check in with Michelle and ask her questions or get some advice LIVE.
Plus, she's doing a Spotlight Member and Hotseats to help you grow your business learning from people just like you with families just like yours. Be around people who can assist you in building and growing what could potentially be the very business that carries you to financial freedom!
Become an Insider Now!