You might be surprised to hear that the most downloaded episode of Get Paid for Your Pad so far this year is a show about systems. While operations is not the sexiest aspect of running a short-term rental business, it may be the most important.
So, what is involved in building out the operations for an Airbnb business? And how does creating systems benefit you as a host?
On this episode of Get Paid for Your Pad, Eric and I sit down to discuss the ideal operations to scale your STR business, describing how to identify the most efficient processes and save time and brain power.
We explain why it’s crucial to write down everything you do for your vacation rental business and offer advice on how to start the documentation process.
Listen in to understand what STR operators can learn from McDonald’s and find out why focusing on operations is the prerequisite to scaling your Airbnb hosting business!
The 3 things you need to grow an Airbnb business
What we mean by the term operations
- Goes beyond tech tools for automation
- Document processes for every task
Why it’s crucial to document your operations
- Easy to hand off tasks to team members
- Takes you out of business asap
- Gives you option to sell business in future
Why we’re documenting every step of our STR takeover
- Use as blueprint for future acquisitions
- Smooth transition from previous owner
The benefit of documenting systems from the get-go
- Forces to create most efficient process
- Save time and brain power on repetitive tasks
Our advice on how to start the documentation process
- Start with voice notes or Zoom videos
- Transfer to spreadsheet or document later
What to ask yourself as you refine your STR systems
- Can I remove steps from this process?
- How do I simplify this system?
How a STR business is like a McDonald’s franchise
- Get clear on vision and build operations
- Maintain brand standard in multiple locations
Hostfully [Discount Code PAD]