Mark Simpson and a guest discuss running rental businesses from your phone. The key: use one primary app instead of scattered tools, focus on a clear step-by-step plan, and scale to cut costs like linen. Most hosts waste time on inefficient operations that pay poorly for the hours spent.
Chapters
A lot of people have great goals and they've got a big vision that this is what I want to achieve. But then in reality, most people have the vision, they've got the goals, but they don't actually have a plan to get to that goal or they don't have a vision, you know, they don't have a step by step layout of how am I going to get there? And there's a quote which is something like, if you chase two rabbits, you're going to catch either one. And you know, again, it ties back to the whole conversation we just had, which is a lot of the time you're trying to do so many different things at the same time that you're all over the place.
An app that you use that is really important for your business to succeed and grow.
You only really need one big one which can do a lot of things. And then these add on ones, it helps like, it helps to have the add on. So if someone's gonna just learn one and just take away one, I would say the talent manager. And the one I use is you.
Had one property and then you grew it to over 40, whatever the number may be. What was the, what would you say was the deciding factor from you from going from say 1 to 3, from 3 to 5 to 5 to 10? What were you doing that you see others not doing when you were growing? What were you doing in your business?
10 Help enable you to grow. A lot of things in business get easier as you grow, as you take more and more properties on and you have more money coming in. Linen over multiple units gets cheaper.
What is the one mistake that you see people when they come into rental accommodation, service ACCommodation, what's the one big mistake that you see people make?
You know, I always say that let's say you're making 1,000 pound a month, but it's taking you 10 hours a day. Suddenly that thousand pound a month is not very good. Whereas if you're making a thousand pound a month and it's taking you half an hour a day, that's very, very good.