How to Start an Airbnb Business | Become an Airbnb Host: 3 Things to Do First

Sharing buttons:

it's amazing all the headlines that you

have seen regarding Airbnb and

short-term rentals in the sharing

economy and now I bet you are wondering

how on earth can you start an Airbnb

business well in this video we're going

to answer that question and more right

now hi my name is jay massey and welcome

back to cash flow diary TV i've had the

privilege of welcoming more than 3000

guests through 1,000 reservations using

platforms that you may be familiar with

like HomeAway VRBO Airbnb as well as

others if you have the desire to build

your own business and want to learn the

latest tips tactics tools and techniques

that you can use to become a bigger

better matter business owner then please

consider subscribing in this video what

I want to do is I want to give you three

things to consider when you are thinking

about starting your first Airbnb

business number one one of the most

important things to understand is that

you are in the hospitality business

having a lot experience in real estate

is great but this is a completely

different business and that's okay

because that means even if you've never

done real estate you still can do this

right here here's what I mean when you

someone comes to one of your locations

what they are thinking about is the

experience and what you need to be

thinking that is the experience that

they're going to have once they walk

through the door now obviously depending

on where you live part of their

experience is what's outside the door as

well that's great that might have

attracted them to the area but what you

want to know is what's going to attract

them to your location therefore you need

to be thinking about the experience for

example the first question that you need

to ask yourself is whom do you wish to

serve once you understand whom you wish

to serve you'll be able and better

equipped to go out there and create an

experience specifically tailored for

them what do I mean by that I mean

specifically that a family with children

might not want a place with any stairs

or a high-rise balcony simply because

their children are small and that could

become a risk factor things like that

can have a significant impact on who

chooses just

your location the other side of that

equation is maybe you don't wish to

serve any families with any kids

whatsoever in that case you probably

don't mind picking places with stairs or

using a high-rise piece of real estate

that has a balcony because that can

become an attractor for that particular

type of couple or individual who's

traveling number two how much time do

you actually have to commit to serving

individuals this is very very important

because you must remember that not only

is the work in obtaining the reservation

it's the work is also in servicing the

person once they arrive one of the

things that you need to think about is

what are your customers expectations

here's what I mean we've all heard of

stores like Walmart Target as well as

Nordstrom well each one of those stores

sells something similar for example

shirts you could get a shirt from

Walmart you could get a shirt from

Target and you can get a shirt from

Nordstrom but when you go to Walmart

Target or Nordstrom you have a different

expectation you have a different

expectation in the quality of the actual

product you also have a different

expectation and what happens if you

can't have a return that you need to

make as well all being said there are

different levels of time required to

meet your customers expectation so for

example let's pretend that you wanted to

be the Nordstrom high class person in

your general area that that's the type

of listing and that's the type of

organization that you wanted to run now

that's not to say that you can't have

high levels of service and customer

service and do great five-star things at

the Walmart or Target level I'm just

trying to say you're using finer

finishes you're delivering a more

boutique experience as opposed to

something that might be necessarily

mass-produced here's my point when you

are going down the Nordstrom route you

it may require more of your hands-on

time for example one of the things that

you could consider in a Nordstrom level

style service is simply a concierge well

who's going to do that who's going to

simply pick up your guests at the

airport who's going to make sure that

they have a local phone number for them

to contact to be able to get directions

or find that restaurant reservation or

make those extra arrangements that they

just might need on their behalf if

that's not you then maybe Nordstrom

level isn't what you're ready for just

yet all I'm trying to say is think about

what your customer is expecting because

delivering on your customers

expectations is the number one way to

protect your five-star rating and making

sure that you get future business again

from the same person okay and number

three for those of you who want to know

the absolute best thing that you can do

to get started and make sure that when

you are building your business that you

eliminate a ton of mistakes and start

hitting your target market properly one

of the best things that you can do is

stay at another short-term rental that's

right one of the best things to do is

before you start serving someone else is

let someone else serve you I know you

maybe you feel like I've stayed at a

hotel before I've stayed at a

bed-and-breakfast I've stayed at all of

these other places I'm telling you

something is completely different when

you actually go and experience it for

yourself now understand this when you're

guests your new guest is coming the

experience starts immediately from the

interface from the platform that you've

chosen to be a part of or your website

however they have found you that's where

the experience begins so you might want

to consider doing this on multiple

platforms meaning literally booking a

reservation on each and every platform

that you intend to be a part of so that

you can understand what your guest is

experiencing this will give you a leg up

over those that are also on that same

platform now for some of you maybe

you've never done this before and you're

just looking at it as a business like me

because that wasn't the first thought

when this came into my life what I was

looking at was like hey this seems to be

a neat way to use real estate and gives

me an opportunity to to possibly build

something that well my kids can

participate in something that would be

closer to home something that seemed to

be more tangible easier to execute and

just probably more fun and that's really

what I was after so maybe you're in that

category so with that being said what

I've learned is that instead of going

wide go deep pick an easy platform to

get started with and most importantly

take that platform to as deep a level as

you possibly can now having served

thousands of reservations in thousands

upon thousands of people in my opinion

one of the easiest platforms for

everyone to get started on right now is

of course Airbnb now maybe you've never

stayed at a unit that was advertised on

that particular platform and I

completely understand it but either

going through it on the computer versus

going through it also on your phone in

the mobile experience those are two

completely different experiences and

it's definitely something you should

look at but I honestly want you to go

and find a place to stay in your local

area even if it's just for one night and

observe things like what did the photos

look like what was the title that got

your attention what were the words or

photos in the description that actually

mattered to you and most importantly

what was that that reservation

experience like how did the directions

get to you how did you pick up the keys

all of those things what was your

impression the moment you walk through

the door all of those things are things

that you want to detail and that you

definitely want to make sure that you

know it's really really difficult to

start any business let alone this

business without having experienced it

as a customer first this is exactly why

I'm suggesting that now for some of you

maybe you don't have an account on the

Airbnb platform already and that's

completely fine what I've done is I've

included a link for you in the

description that will also give you $40

off for all of you who are registering a

new account so if you're registering a

new account click the link in the

description and you'll get $40 off

obviously if you use that link it does

support the channel a little bit and

that is always appreciate

but at the end of the day it's really

hard to start a business that you've

never actually experienced the product

of and in fact I think you'll be a

better bigger badder business owner if

you do it this way now that you've heard

from me I'm eager to hear from you so

all of you out there with inquiring

minds do me a favor put your questions

in the comments section below so that I

can read them I can respond to them and

also understand what other questions

that you might have when it comes to

getting your business off the ground

also if you're looking for more

information like this just click right

here for another video and if you would

like to get access to what we called the

ultimate guide to short-term rentals

click right over here and as always make

sure that you click Subscribe until next