J Massey is the author, speaker, and the podcast host who teaches other people to become better entrepreneurs. In the new Expert Insight Interview, he will talk about starting a short-term rentals business, as well as finding ways to reinvent and upgrade ourselves in the face of the changes the world is going through.
This Expert Insight interview explores:
- The advantages of short-term rentals
- Starting without capital
- Adapting to a new reality
The Advantages Of Short-Term Rentals
We all need a source of income, but that doesn’t necessarily mean having a traditional job. If you are prevented from doing it, it’s time to adapt, get creative, and find new ways to do familiar things. Real estate is a smart choice for getting income without physical work, and short-term rental is just a response to consumer demands. When you look at consumer trends, it is clear that it’s here to stay.
The pandemic is changing consumer behaviors, and that’s where the demand lies. It is a great opportunity for businesses such as Airbnb. People crave new places, but they will feel a lot safer in this type of housing, instead of in big, crowded hotels.
Starting Without Capital
The marketplace never cares about how much money you have, but about the value that you can create. Don’t lead with your need, but with what you can solve. Ask yourself what problem can you solve for someone who has capital. For example, real estate is excellent for solving tax problems. Even if you have resources, you will still need to find out how to use and access other people’s resources.
What is great about this business is that rentals don’t need to be close by, and you don’t even have to see them, but it’s still best to start with something near you. When you are building a system, it takes time to learn how to operate it. From that, it is all about growing. Find a way to have access to the system of somebody who can pull together all the resources you need to deliver the service. The goal is to create your own system that will allow you to add any number of new units without requiring any additional time out of your day to manage it.
Adapting To A New Reality
Job security isn’t something we can rely upon anymore. It is now critical more than ever to invest in yourself and find new ways to improve and grow. During this time, companies will keep only the ones who can produce the most value for them. It is about learning to adapt to new circumstances and accepting the fact that some things are permanently changed.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.